Thread by @zignaly

(1/8) #Altcoins🟡 are any blockchain-based digital project tokens apart from #Bitcoin ₿. This thread focuses on types of altcoins and their functionality. 🦾🧵
Learn more at 👇
medium.com/zignaly/llts05…

(2/8) All Altcoins use the #blockchain as an unchangeable, #decentralized public database that only accepts and records a payment if there is widespread agreement that it is authentic. 📊✅

(3/8) Numerous #altcoins have built off Bitcoin’s original concept but with differing ends in mind or by fixing some perceived shortcomings of the original. 🖨

(4/8) ⚡️The use cases for alternative cryptocurrencies are diverse and can include #governance, #utility, and even monetary transactions. There are also various types of #altcoins that are mentioned below. ⚡️

(5/8) #MiningBasedCoins
Coins based on mining are “mined” into existence by communications systems solving complex statistical problems. ⛏₿

(6/8) #Stablecoins
Stablecoins are a form of #cryptocurrency whose worth is tied to another asset, most often the U.S. dollar. 💰

(7/8) #StakingBasedCoins
These cryptocurrencies use #staking to validate #transactions and increase the supply of coins. 📈🟡

(8/8) #GovernanceTokens
Governance tokens are #digitalassets that grant their owners the power to vote on the project’s direction. Because of this, #cryptocurrency is a #decentralized initiative since all owners have a say, and a single authority doesn’t make choices. 👨🏿‍⚖️🟡