How can you be sure that you’re choosing the right option when there are a lot of alternatives to choose from? To differentiate and make the right choice we’ve listed some of the key points stating the difference between the two.
- Bitcoins are the original cryptocurrencies. They gave birth to the blockchain revolution. It made the transaction more secure and created additional units. But it has now become the old version and is no longer use as currency. It is referred to as digital gold or store of value. It was a beta test of technology and was not that useful.it was not that realistic and useful for real life.
- Other than the bitcoins everything else are considered as altcoins. Almost 1500 other coins are referred to as altcoins. Etehrium is also referred to as an altcoin. They are usually the clones of bitcoins. They try to fix the disadvantages of the bitcoins but fundamentally both of them are similar.
- The other altcoins are made to solve various problems. Most of the cryptocurrencies are not even considered to be currencies. Many of them are social networks or cloud computing or data storage These include many degraded trading exchanges. Most of the altcoin projects use blocks chain technology, which can be then used to solve real-world problems. They solve problems from industries to medications. So basically it is not limited to financial market and transactions.
- Within a few decades by the advancement of the internet, the future of altcoins is increasing. We would see the future UBERS running on decentralized apps. Thus it is having a vast scope out there.
- Thus, to sum up, we can say the whole market of cryptocurrencies cannot be a single winner game in terms of competition or altcoin cannot be the single coin to overthrown bitcoins. There would be a wide network of the crypto market in future. In this decade we have got bitcoin which can be considered the high brand ambassador of the blockchain to get media attention. But altcoins have much more promising results than we realize.
- Bitcoin can although get developed to be capable of getting at par with altcoins. But competition is always healthy for a business to prosper. And as a block is a young technology, thus it requires more thriving system around to develop and become valuable to society. The beauty of blockchain is that it allows for cryptocurrencies to be used for much more than just paying for things.