Altcoin
Yaser Rahmati | یاسر رحمتی
What is an Altcoin?
Altcoin is a portmanteau of "alternative" and "coin". It is used to describe all cryptocurrencies other than Bitcoin. Here’s a detailed breakdown:
Definition and Origin:
Bitcoin was the first cryptocurrency, created in 2009 by an anonymous person or group known as Satoshi Nakamoto.
Altcoins refer to any cryptocurrency that is not Bitcoin. The term was coined to distinguish these new cryptocurrencies from Bitcoin.
Types of Altcoins:
Stablecoins: Pegged to a stable asset like the US Dollar (e.g., Tether, USDC).
Mining-based Coins: Require mining to be created (e.g., Litecoin, Monero).
Staking-based Coins: Use staking to secure the network (e.g., Cardano, Polkadot).
Utility Tokens: Provide access to a service or product (e.g., Binance Coin, Chainlink).
Governance Tokens: Give holders voting rights in a blockchain project (e.g., Uniswap, Aave).
Purpose and Features:
Altcoins are created for various purposes, including improving upon Bitcoin’s limitations, offering new functionalities, or targeting specific use cases.
They can have different consensus mechanisms (Proof of Work, Proof of Stake, etc.), transaction speeds, privacy features, and smart contract capabilities.
Examples of Popular Altcoins:
Ethereum (ETH): Known for its smart contract functionality.
Ripple (XRP): Focuses on fast and low-cost international payments.
Litecoin (LTC): Offers faster transaction times compared to Bitcoin.
Cardano (ADA): Known for its focus on security and scalability.
Finding the Total Market Cap of Altcoins on TradingView
To find the total market capitalization of altcoins (excluding Bitcoin) on TradingView, follow these steps:
Open TradingView:
Go to TradingView.
Search for the Total Altcoin Market Cap:
In the search bar at the top of the TradingView homepage, type "TOTAL2".
Select the "TOTAL2" index. This index represents the total market capitalization of all cryptocurrencies excluding Bitcoin.
Analyze the Data:
Once you select "TOTAL2", you will see a chart displaying the total market cap of altcoins.
You can use various tools on TradingView to analyze this data, such as adding indicators, changing time frames, or comparing it with other financial instruments.
Customization and Alerts:
You can customize the chart by adding trend lines, indicators, or other analysis tools.
Set up alerts for specific market cap levels if you wish to be notified of significant changes.
Keywords
cryptocurrency, blockchain, Ethereum, Litecoin, Cardano, Ripple, altcoin market, stablecoin, DeFi, smart contracts, mining-based coins, staking-based coins, utility tokens, governance tokens, altcoin trading, altcoin investing, altcoin exchanges, ICO, altcoin wallet, altcoin price analysis , یاسر رحمتی
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