The Altcoin Label Covers Crypto With Different Roles and Uses
Photo: TokenPost
Altcoin is a broad market label for cryptocurrencies other than Bitcoin (BTC). It identifies assets outside Bitcoin but does not describe their technology or purpose. The category includes assets with different roles, including Ether on Ethereum and stablecoins designed to track fiat currencies. Bitcoin’s original model focused on sending payments between people without a financial institution. Ethereum supports applications built with smart contracts, which are software programs that operate on its blockchain. Ether (ETH) pays transaction fees and helps secure Ethereum. Stablecoins serve another function. Tether’s USD₮ is designed to track the U.S. dollar at a 1-to-1 peg.
Source: TokenPost
