Altcoins like its name suggests alternative crypto currencies yet considered as better substitute to Bitcoin, launched after the success of Bitcoin, traded on various online platforms with comparative rates of this digital asset in various countries. The historical data, charts, sites showing coin current market prices, and exchanges available for this currency are making them popular.
Altcoins the virtual currency has different work algorithms and users can mine their own blocks. Top ten Altcoins includes Basic Attention Token BAT, EOS, Ripple XRP, Stellar XLM, Zcash ZEC, 0x ZRX, Tron TRX, Ethereum Classic ETC, Monero XMR, Litecoin LTC. Nearly 1500 crypto currencies available on internet out of all one is altcoin, mostly developed using framework of Bitcoin, involves mining process plus newer features of altcoins maintains users confidentiality.
Top 3 Altcoins for Animal Lovers
This altcoin is a peer-to-peer open source crypto currency launched in December 2013 launched after Bitcoin, it is popular, and this visual currency witnessed many transactions online contradicting the reality that these coins introduced just for fun are now highly traded. Their smart operation facilitates faster payments to anyone, anywhere across the globe.
The price of Dogecoin (DOGE) is $0.00, it faced reduction of -0.32%, but the high trading volume of $65,023,299 indicates its demand and supply. The circulation of 119 Billion coins is its maximum limit. Its vast reach is proof of its exchange ease, with the number of tie-ups with various payment processors associated with several crypto currencies.
Dogecoin created on basis similar to Litecoin but differs from Bitcoin, it has a block time of 1 minute. There is no limit on production of these coins and its maximum supply is limitless. The value of these coins is less, making them easily tradable even in smaller transactions.
Dogecoin’s creation was out of human love for dogs the most faithful animal.
This crypto currency popularly used playing 200 online video games. Major advantage is that it accepts Bitcoins, Litecoins, and Dogecoins from the users. PENG priced at $0.00 currently but the trading volume of $1,629.81 in 24 hrs, actively traded on Coinexchange. It has supply of 9.86 Billion coins and a max limit is of 17.1 Billion coins.
This crypto currency’s mascot is dolphin wearing glasses and a top hat. It is popular as people love dolphins for their intelligence and friendliness with humans. TFL a crypto currency token issued on the Ethereum platform. Has current value of $0.23 and traded on KuCoin. Lucky draws published openly on GitHub; this lottery system aligned with TrueFlip’s goal to become most popular Blockchain lottery.
Other Altcoins: Pandacoin introduced by China in February 2014, the market seems to be quite low for this crypto currency but recent rise in transactions shows to $1.5 Million. The maximum supply is limited to 32 Billion coins, and traded actively on YoBit.
Dormant Altcoins – Famous once:
The Catcoin uses Bitcoin’s version, is password protected since its launch in December 2013 with opening balance of 21 Million coins and presently circulating supply of 7.22 Million coins, available for mining at the rate of 50 coins for every 10 minute blocks. It uses P2P technology for improving cat lives, actively traded on NLexch. One may purchase or mine the catcoins from the list of pools, after installing the application. It allows users to generate their catcoin address for receiving and sending them. No trading of catcoins seen, priced at $0.00. Similarly, Nyancoins of Japan were launched in January 2014 and were traded heavily then and has started rising again.
This crypto currency introduced in June 2017, purposed for fundraising and charity. Its current supply and price is 0 and price rise found in recent exchanges. The maximum supply can be 100 Billion coins and traded on Trade Satoshi. Nearly 10% of mined Bunnycoins allocated for donations to a charity by users votes casted to the charity organization. Out of 10 charities listed on site, one that receives highest votes receives the charity fund weekly.
Benefits of Altcoins:
Using blockchain technology for animal care and crypto currencies for donations e.g., a Japan based blockchain startup allows cat-loving crypto investors to donate to a Tokyo cat sanctuary that works towards saving the stray cats; of course using crypto currency. Each cat can have a QR code scanned for immediate donations using it in Sakura Bloom’s SKB tokens. Welfare activities for cats, dogs and other animals can make society a better place.
South Korea developed a blockchain for pet registration system that helps in reducing animal abuse and punishes abusive people who do not perform their duties towards their pet dogs and abandon them. It will be available on Foani platform open to all the NGO’s, animal welfare specialists, pet vendors, and pet owners to track medical supplies and pet products and even update veterinary records. The significant contribution of this portal is that it can ensure the stray animals obtain identification and receive care in long run.
Caring with Altcoins by providing shelter to animals from the donations received. PETA is the largest animal rights nonprofit organization of the world and it has started accepting donations via the BitPay platform.
WWF associated with blockchain companies like ConsenSys, TraSeable, and a fishing company named Sea Quest Fiji to create a database using blockchain technology about the tuna industry fishing from Pacific Islands to identify and eliminate the illegal fishing and save the species or precautions taken during their breeding period.
Setbacks of Altcoins:
- Stability of Bitcoin over other crypto currencies.
- World Economies and political concerns adding to the constraints of exchanges of Altcoins.
- Availability of older crypto currencies is major concern.
- Limited transactions and exchange value.
- Missing regulatory bodies and no stringent rules.
- Used for illegal purposes like gambling and adult entertainment.
Conclusively, we can say that altcoins having animal mascots may become popular with rising pet lovers and animal care activists. The challenges can intersect the abilities of blockchain technology for the contenting intentions.
Harsh Arora is a proud father of four rescued dogs and a Flemish Giant Rabbit. Besides being a full-time dog father, he is a freelance content writer/blogger and an educationist, with more than 6 years experience in the field of content writing.
Disclaimer: This is a paid article. The content and views expressed in the articles are those of the original authors own and are not necessarily the views of Crypto News. We do actively check all our content for accuracy to help protect our readers. This article content and links to external third-parties is included for information and entertainment purposes. It is not financial advice. Please do your own research before participating.