We have seen and witnessed how Bitcoin successful history that leads to other cryptocurrency to released on the market after Bitcoins success.
A little Background:
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Last time I discussed how Altcoins performance for the last three years. Decentralised Financial like Altcoins which is a short term for Alternative to Bitcoin. Altcoins somehow challenges the dominance of Bitcoin this recent years especially Bitcoin Cash, Ethereum and Ripple.
But for the last 2 years, there's a new and fresh challenge to it's dominance to it's strong market.
As I have discussed day's ago about Altcoins, I tackled there how smaller cryptocurrency challenge the dominance of Bitcoin. Aside from Bitcoin Cash, cryptocurrency that perform well these past years, Ethereum also posing some analytics and performance that. suggest this coming years Ethereum will rise.
Lately, Altcoins are gaining ground and momentum against their bigger cousins. For the past 2 years altcoins attract and gathered users, communities and developers who are confident altcoins have much more potential.
Let's Recap about Altcoins
What are Altcoins:
Altcoins are the other cryptocurrencies launched after the success of Bitcoin . Generally, they sell themselves as better alternatives to Bitcoin. The term "altcoins" refers to all cryptocurrencies other than Bitcoin. As of early 2020, there were more than 5,000 cryptocurrencies by some estimates. According to CoinMarketCap, altcoins accounted for over 34% of the total cryptocurrency market in February 2020.(Source Credit: investopedia.com)
Key Terms for Altcoins:
The term "altcoins" refers to all cryptocurrencies other than Bitcoin.
Some of the main types of altcoins include mining-based cryptocurrencies, stablecoins, security tokens, and utility tokens.
Altcoins might include only mining-based cryptocurrencies other than Bitcoin in the future as usage continues to develop with technology.
Ethereum and Ripple were the largest altcoins by market capitalization in February 2020.
Understanding Altcoins:
The word altcoin was formed from two words first three letters: alt and coin thus represents as following as Alternative to Bitcoin. Always remember that Altcoins are the other cryptocurrencies launched after the success of Bitcoin. The success of Bitcoin as the first peer-to-peer digital currency paved the way. Many altcoins in the market target and challenges the perceived dominance of Bitcoin. An altcoin must have a competitive advantage to succeed against Bitcoin.
Mostly of the altcoins in the market are built in the basic framework provided and used by Bitcoin. We noticed that most of the altcoins are peer to peer. Their main goal and maming it their advantage was offering efficient and inexpensive ways to carry out transactions virtually. Even having them with similar and overlapping features and framework, each altcoins vaey widely from each other.
Vectracoin:
1) Multilevel blockchain
VectraCoin is developed on a multilevel blockchain. What does it mean? It allows you to combine the features of coins that at first glance are incompatible, For example for VectraCoin, these are smart contracts (which imply publicity) and complete anonymity, on the analogy of Monero with the help of a one-time signal. This is the most important characteristic of Vectra, because of which, everyone predicts that VectraCoin will take the rightful place on the top 10 coin Market Cap in 2021.
2) Transaction speed
The Bitcoin network processes 7 operations per second, and Ethereum processes 15 operations per second. The speed of VectraNetwork is up to 1000 operations per second, which allows it to compete not only with competitors in the crypto market, but also with fiat money, and Visa and MasterCard.
3) Security and Anonymity
Thanks to the integration of the CryptoNote algorithm, it is impossible to link the sender and recipient to any specific person. The network and its transactions are completely anonymous thanks to a single-time ring signature. Of course, Vectra is also a decentralized system. No single center regulates VectraCoin, which allows making transactions directly without government or other control.
Another Altcoin that going to be an opportunity to the cryptocurrency enthusiast out there.