Bitcoin is the first ever invented cryptocurrency, and still remains to be the biggest for now, at least. However, we know that Bitcoin has a lot of complexity as a currency. The term ‘altcoins’ refers to every cryptocurrency in existence except Bitcoin- in other words, altcoins are alternatives to Bitcoin.
The technical reason proposes that Bitcoin is a bit complicated due to its design. However, developers think that they can fix it. For instance, Bitcoin takes a significant amount of time to process and its transactions have high fees. Thus, developers designed altcoins that have lower fees and faster processing times. According to experts, the PoW (proof-of-work) requirement that consumes a huge amount of energy usage can be replaced with a unique verification method, making the new altcoin more efficient. This will also save the world’s energy from being soaked up to mine Bitcoin.
Blockchain Solutions’ parent company is Oodles Technologies. We are one of the leading blockchain development companies famous for offering top-quality altcoin creation services. Not only we excel in cryptocurrency development services and blockchain wallet development but also create decentralized mobile apps, mobile apps, smart contracts, and exchange platforms.