MODULE 2 - Dan Pentagram
📚 Intermediate Cryptocurrency Course: Lesson 2 - Exploring Altcoins and Their Use Cases 💎
The crypto world is much more than Bitcoin and Ethereum. Altcoins (short for "alternative coins") are all the other cryptocurrencies that exist, created to offer new functions or improve existing technologies.
What Are Altcoins For?
💡 Decentralized Finance (DeFi): Many tokens are used to create a financial system without banks. Projects like AAVE and Compound allow lending, borrowing, and investing directly on the blockchain.
🕹️ Gaming and Metaverses: Some altcoins are the official currency of video games or virtual worlds. Tokens like MANA (from Decentraland) or SAND (from The Sandbox) are used to purchase land and digital items.
🚀 Scalability Solutions: Altcoins like Solana (SOL) or Polygon (MATIC) were created to solve speed issues and high transaction costs that older blockchains like Ethereum sometimes have.
💵 Stablecoins: As the name suggests, these cryptocurrencies are designed to maintain a stable value. They are usually pegged to the value of the US dollar (e.g., USDT, USDC), and are essential for trading in the market without the volatility of other cryptocurrencies.
Exploring altcoins allows you to see the diversity and potential for innovation in the crypto ecosystem beyond the main coins.
— Dan Pentagram
