What are alt coins?
Altcoins are cryptocurrencies that are not the same as Bitcoin (BTCUSD). They have some traits in common with Bitcoin, but they are also distinct in other respects. For example, some cryptocurrencies utilize a different consensus process to generate blocks and validate transactions than others. In other words, they distinguish themselves from Bitcoin by offering unique or additional capabilities, such as smart contracts or low price fluctuation, that Bitcoin does not.
As of November 2021, there are more than 14,000 cryptocurrencies in circulation worldwide. The cryptocurrency exchange CoinMarketCap estimates that Bitcoin and Ether alone accounted for approximately 60% of the total cryptocurrency market in November 2021. 1 The remainder was made up of so-called altcoins. Because they are frequently developed from Bitcoin, the price changes of altcoins tend to follow in the footsteps of Bitcoin’s trajectory. Analysts, on the other hand, believe that as cryptocurrency investing ecosystems mature and new markets for these coins emerge, price movements for altcoins will become independent of Bitcoin’s trading signals.
In other words, “Altcoin” is a combination of the words “alternative” and “coin,” and it refers to any cryptocurrency that is not Bitcoin. The fundamental frameworks of Bitcoin and altcoins are very similar. This allows them to serve as peer-to-peer networks, or as a huge computer capable of processing large volumes of data and transactions all at the same time. In some cases, cryptocurrencies strive to become the next Bitcoin by establishing themselves as a low-cost mechanism of conducting digital transactions.
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Top Altcoins With Potential To Buy in December 2021
Crypto trader Michael van de Poppe recently published a video to YouTube in which he revealed the top altcoins to buy in December 2021. Altcoins issued by the greatest companies in the blockchain field are set to soar as a result of the explosion of decentralized finance (DeFi) and the rising use of smart contracts in the industry.
Additionally, Michael van de Poppe identified the most promising altcoins to invest in for the month of December 2021.
First on the list is Ethereum (ETH), a smart contract platform for creating decentralized apps (dApps). It engineered its own programming language for smart contract solidity. At the time of writing, ETH surprisingly trades at $4,412.06 with a 24-hour trading volume of $26.2 billion. That’s sufficient enough to attract more crypto investors to try them.
Second, there is Cardano (ADA), a proof-of-stake blockchain platform that empowers changemakers, visionaries, and innovators to effect good global change through the use of blockchain technology. A dollar-per-share price of $1.45 is being traded at the time of this writing, with a 24-hour trading volume of $2.5 billion.
Third, Aave, a decentralized lending platform with superior security and anonymity than centralized lending. Aave is a popular lending mechanism today. It offers borrowers a higher collateral than the credit smart contract amount. It also provides 10% APY for specific stablecoin loans with no KYC, a product unheard of in traditional finance.