Types of Cryptocurrencies HENRY WILLIS
Today, there are over 3000 cryptocurrencies, with some being industry- or country-specific. CAPITAL.COM
BITCOIN
The Original Digital Currency
ALTCOINS
Alternative Bitcoins
The Three Cryptocurrency Archetypes ACCORDING TO BITDEGREE
TOKENS
Decentralized Application Currency
Bitcoin Bitcoin was the first cryptocurrency to be used in the blockchain. It had a bumpy start, but soon gained traction and saw two big booms, first in 2013 and 2014, then again in 2017. Although the price for bitcoin reached its peak in 2017—a whopping $20,000 per bitcoin—its worth continues to fluctuate.
Altcoins
Many cryptocurrencies have been created using the bitcoin model as an example, and these are known as altcoins.
Think of altcoins as alternative bitcoins; while structural similarities exist, intention and platform can differ. Altcoins, then, are homebrewed versions of bitcoin, adjusted just slightly to maximize specific benefits.
dApp Tokens Open source, protocol-driven applications can be built within blockchains, and are referred to as “decentralized applications” (dApps). The cryptocurrency used for purchasing services and products within dApps is called a token.
Tokens can also buy privileges within these apps, such as lower monthly fees for using a specific dApp.
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