We can see that some altcoins, above all Ether plus Dash, are rising in value. But the question arises that, what is the purpose of them? For just holding the value or something else? Bitcoin, in any case, has been utilized as a tangible currency, with people taking it as the payment method as well as a few businesses even accepting it. But we have to yet to make out whether any “Ether Accepted Here!” or else “Now Accepting Dash!” signs at anyplace.
So what is driving force behind the value of these coins? Are they similar to precious metals, merely being a store of value rather than being like usual fiat currencies?
When somebody refers to Bitcoin as a currency, they are referring to the utilization of it as an exchange of value, repeatedly making allusion to it being online (a cryptocurrency), which shows its separation from actual money.
Intentions of the altcoins
We can debate over the fact that a number of altcoins, especially the most reputable ones such as Litecoin, do have significant innovations which makes it different from Bitcoin. We can assume that a number of these coins are even trying to be more functional as a currency, now Litecoin tries to make itself more expedient for mining as well as easy to get to the regular person which is often said as the “silver to Bitcoin’s gold”, plus Dash is trying to produce instantaneous transactions which have become more tricky on the Bitcoin network…
Read Full: Aspirations behind altcoins!