Too many altcoins!

[Moova_btc]

Not all projects are interested in running away with people's funds, some project really wants to impact and solve problems but the problem is finding legit projects. I've been looking at some interesting projects in recent times and I think it's okay to say they are good projects. Check out ducatus project to see what they are doing. 

[Speaker]

It is much more important to consider ecosystem and infrastructure projects-blockchains

[Mackintosh]

The reason there are so many different altcoins is because they each have a particular purpose. One reason why there are so many cryptocurrencies now is the underlying blockchain technology. It gives programmers the chance to design various coins with a range of features. We have cryptocurrencies that serve as virtual money.

[Afony]

It is very good for the market when there are a lot of altcoins, and the markets live on altcoins. A lot of altcoins give a lot of new technology developments for the development of cryptocurrencies.

[Speaker]

Not all tokens and projects are needed and interesting to the market, because most of them are outright trash....but the ones that are there are definitely an important link between the user and the product.

[gurunanakji777]

Honestly speaking all are after money but for the development of the crypto market new altcoins are needed in the starting we have only BTC after that we have good projects like Ethereum, BNB, Polygon, Polkadot, Solana, and Tron and many are providing transactions with very low gas fees as compared to BTC transaction charges.

[Afony]

If we compare with these altcoins and transactions on the network, I would not say that BTC is more expensive than them. Projects are different and transactions are already exposed from popularity, take for example Ether overestimation of transactions due to popularity.

[Speaker]

Well, the ether at least with the transition to a new consensus algorithm, at least the commissions have become smaller

[GWstar]

In my opinion, some of new altcoins present new technologies wasn't covered by major coins before. They're just trying to follow the way of success.

[Speaker]

due to recent events, it is difficult to figure out which altcoins will become the next gem, and which ones will be a scam

[Cnghtn]

By the end of this bare market most of the scam or weak projects will have died.

[Speaker]

By the end of this bare market most of the scam or weak projects will have died.

I would say that the moshenic projects have already died... moreover, many of those who were considered top-end-became moshenic.It's sad to realize that we don't really have any control over what belongs to us (

[JordanKing]

Well, some people consider altcoins to be all cryptocurrencies other than Bitcoin and Ethereum as most cryptocurrencies are forked from one of the two. A few altcoins use distinct consensus mechanisms to validate transactions and open new blocks, or attempt to differentiate themselves from bitcoin and Ethereum by offering new or additional capabilities or objectives.

There are many benefits of Altcoins including Altcoins with more utility have a better chance of surviving as they uses like Ethereum's ether. Also, investors can choose from a wide variety of altcoins that perform different functions in the crypto economy. 

[Speaker]

Investors can always choose what they prefer, but I still prefer bitcoin and Ethereum.

[Alcor]

due to recent events, it is difficult to figure out which altcoins will become the next gem, and which ones will be a scam

This happens periodically and is a natural development of cryptocurrency. Thanks to the open source code and the ability to easily and relatively quickly create their own cryptocurrency, many use it to deceive investors and get big money. Such projects quickly leave the market, and often with the currency of investors. Investors learn from their mistakes, and therefore the number of useful cryptocurrencies in the market increases. Therefore, this path is a good opportunity for the development of this industry. There are not many altcoins.