The Rise of Altcoins
Altcoins are the alternative cryptocurrencies. The first Altcoin to created was Namecoin. Which was invented in April 2011. Namecoin was created for the use of decentralized domain registrations. Each unique Altcoin solves a different problem. New Altcoins are being born every single day. Which means more Altcoins equal solutions.
Ethereum created by Vitalik Buterin on July 2015 paved the way for tokenization of assets. Above all, Ethereum is also responsible for the commercialization of Initial Coin Offerings.
Tokens and coins are a unit of blockchain value. However, tokens are built on existing blockchains. While coins are unique digital currencies which are based on their own, standalone blockchains.
An Initial Coin Offering is the Blockchain Industry’s equivalent to the stock industry’s Initial Public Offering. The difference between ICO and IPO is that one issues stock and the other issues coins. Each are similar in that they use proof of ownership to verify dividend payouts. They both are just fancy ways to raise capital. Although, if you live in the United States launching an ICO can be tough. This is because the SEC is very strict on Initial Coin offerings and require heavy compliance.
Ethereum is just one of many Altcoins that have revolutionized the world! In the future the term Altcoin will become more familiar to the public. Each year more and more users come on board. Some of the smartest people on this planet are currently quitting their jobs to create Altcoins and work for companies funded by crypto currency.
Many celebrities including Floyd Mayweather, Ashton Kutcher, and Mike Tyson have invested in Altcoins. Floyd Mayweather just a few days before his historic fight with Connor McGregor promoted an ICO of a blockchain based content marketplace, Hubii Network. He also said that we could call him Floyd Crypto Mayweather. Hollywood actor Ashton Kutcher is a well-known investor in the technology industry. Ashton is an investor in BitBay. His investment firm Sound Ventures is backing Unikrn. Which is a cryptocurrency based on eSports betting. Boxing legend Mike Tyson partnered with Bitcoin Direct to introduce Bitcoin ATM.