Like Ethereum, NEO also offers a platform for the development of smart contracts and Dapps. On the other hand, Bitcoin is just a digital currency that offers no such platform.
Litecoin, one of the oldest altcoins, was created in 2011 by an ex-Google employee, Charlie Lee. Like Bitcoin, Litecoin is also just digital currency but with improvements. In fact, the reason for launching Litecoin was to overcome some of the shortcomings of Bitcoin, especially its slow transaction speed.
Here we should note that liquidity, volume, market cap, and volatility are some of the major factors to consider when choosing an altcoin to trade, along with the market sentiment and tech innovations. Do not forget that crypto news may play a crucial role in popularising or demonizing an altcoin, so always follow the news to stay up-to-date.
Bitcoin Cash (BCH) holds an important place in the history of altcoins because it is one of the earliest and most successful hard forks of the original bitcoin. In the cryptocurrency world, a fork takes place as the result of debates and arguments between developers and miners. Due to the decentralized nature of digital currencies, wholesale changes to the code underlying the token or coin at hand must be made due to general consensus; the mechanism for this process varies according to the particular cryptocurrency.
The “crypto” in cryptocurrencies refers to complicated cryptography which allows for the creation and processing of digital currencies and their transactions across decentralized systems. Alongside this important “crypto” feature of these currencies is a common commitment to decentralization; cryptocurrencies are typically developed as code by teams who build in mechanisms for issuance (often, although not always, through a process called “mining”) and other controls.
What is the difference between a crypto exchange and a brokerage?
In layman’s terms, a cryptocurrency exchange is a place where you meet and exchange cryptocurrencies with another person. The exchange platform (i.e. Binance) acts as a middleman – it connects you (your offer or request) with that other person (the seller or the buyer). With a brokerage, however, there is no “other person” – you come and exchange your crypto coins or fiat money with the platform in question, without the interference of any third party. When considering cryptocurrency exchange rankings, though, both of these types of businesses (exchanges and brokerages) are usually just thrown under the umbrella term – exchange. This is done for the sake of simplicity.