What is Altcoin and How Does it Work?

THECRYPTO.WATCH – Overall, the current development of crypto assets is already more than 10,000 currencies. One of them is what is Altcoin  as a traded crypto currency. 

What is Altcoin?

For those who have been familiar with this currency for a long time, it can be a reference for profit. However, those who have just joined the cryptocurrency can understand the following explanation.

This type of cryptocurrency is an alternative to bitcoin. The name of this coin is a combination of alternative and coin words in English. 

First appeared in 2011, this coin is called namecoin with the development of bitcoin. Namecoin is part of the history of Altcoins that shows there is still opportunity in cryptocurrencies.

How Altcoin Work 

The price of this coin will follow the price of the bitcoin currency. However, there is an influence from the investment ecosystem on cryptocurrencies. Its development in the crypto market makes it more independent and independent of the bitcoin price. To understand how it works, the following systems operate on blockchain technology, which are:

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