From the course: Blockchain Basics
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The growth of crypto coins and crypto tokens
From the course: Blockchain Basics
The growth of crypto coins and crypto tokens
- Even with the rapid growth of blockchain technology in a variety of applications and industries, cryptocurrency still dominates its use. However, beyond the use of cryptocurrency as a form of digital money, cryptos, short for cryptocurrency, and a derivative called crypto tokens form the basis for some fascinating and important innovation. I'll begin with a quick overview of the current crypto market. Bitcoin was the first cryptocurrency and continues to be the largest and most impactful. Its success provided the basis for thousands of spin-off cryptocurrencies. We call these Altcoins, short for alternative coins. Many are, in fact, based on the Bitcoin code base, which being open source allows anyone to copy and modify the code. This makes it easy for literally anyone to create their own cryptocurrency. Some cryptos exists to compete with Bitcoin, but also to serve specific needs and applications. For example, cryptos are used to support cross-border payments, making it easier and…
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