What is Bitcoin?
Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system. credits from bitcoin.org
What is Altcoins?
Altcoins are the alternative cryptocurrencies launched after the success of Bitcoin. Generally, they project themselves as better substitutes to Bitcoin. The success of Bitcoin as the first peer-to-peer digital currency paved the way for many to follow. Many altcoins are trying to target any perceived limitations that Bitcoin has and come up with newer versions with competitive advantages. As the term 'altcoins' means all cryptocurrencies which are not Bitcoin, there are hundreds of altcoins.
Examples of known altcoins:.
The Bitcoin Cash
Bitcoin Cash is a peer-to-peer electronic cash system. It's a permissionless, decentralized cryptocurrency that requires no trusted third parties and no central bank. Sounds like a bitcoin? well they are not. What is difference between bitcoin and bitcoin cash? In 2017, the Bitcoin project and its community split in two. Perhaps the least controversial way to refer to each side is simply by their respective ticker symbols, BTC and BCH. Bitcoin Cash is usually represented by the BCH ticker symbol and is considered by its supporters to be the legitimate continuation of the Bitcoin project as peer-to-peer digital cash.
The Etherium
The project was founded via a presale in August 2014 by the fans of etherium and successfully boom until now. Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference.
The Ripple
Ripple is created by the ripple company. Ripple provides one frictionless experience to send money globally using the power of blockchain. You can visit their website at
https://ripple.com.
This are just some of the known altcoins out there but actually there are hundreds of them some of them are just in the beginning stage where they offer initial coin offerings (ICO). Hoping that someday this altcoins can zoom out the bitcoin.
What are the prices of this cyrpto currencies?
There were so many bitcoin and altcoins exchange market today. They just popping out like a mushroom in your yards. As for today this is the pricing at
https://coinmarketcap.com/.
How known is Bitcoin and Altcoin in Philippines?
In third country like Philippines. The crypto currencies is not like that famous. They have already a knowledge that Bitcoin and Altcoins are existing but don't know where to get it and how to use it. Those people who spent so much time in internet must have already have a knowledge on what is bitcoin, but still they are afraid to invest in it since it has no clear what company produced and has no legal accommodation on it. If this crypto currrency will be develop in the future and it has proper legal accommodation then perhaps this crypto currency will expand its purpose to have easy process in acquiring goods in internet market.
