The most immediate, cost-free and risk-free approach for earning bitcoins online, is by effectively using a Bitcoin faucet or faucets that offer other altcoins. The biggest advantage when using CoinPot partner faucets is that the cryptos you collect from all these faucets are stored in a common wallet. Another good point is that you can also exchange/convert the acquired crypto-currencies within the coinpot portfolio instantly, and for any supported crypto you choose. A faucet is a site that offers a small number of crypto coins in exchange for your participation in it. This way, you can freely start to create your Crypto portfolio or, if you prefer, you can convert all the claimed coins by one of your choices, and then exchange it for the asset that is most convenient for you.
What are CoinPot tokens?
On March 28, 2018, CoinPot announced the creation of Coinpot Tokens, a new added value for CoinPot users. A new type of exclusive “asset” of this Microwallet that appears in the existing currencies, Bitcoin (Core / Cash), Litecoin, Dogecoin, and Dash. But to realize what Coinpot Tokens actually represent, it is essential to be able to distinguish the real differences between Tokens and crypto-coins.Cryptocurrencies – Altcoins and Tokens what’s the difference?
Coin / Altcoin
A cryptocurrency, let us use Bitcoin as an example, is a type of cryptographic currency that operates independently of any other platform, that is, it operates in its own Blockchain. There is no difference between cryptos or altcoin. The term Altcoin is applied to all cryptocurrencies that represent an alternative to Bitcoin. Most altcoins are Bitcoin variants, built using Bitcoin’s original open-source platform with a few changes (Forks) in their underlying codes, thus creating a new currency with a different set of features.Examples of altcoins: Litecoin and Dogecoin. There are also other altcoins that do not derive from Bitcoin’s Open Source protocol. Instead, it has created its own blockchain and protocol that supports the native currency. For example; Ethereum and Ripple. If you have questions, you can always check in Coin Market Cap the list of cryptos and their platforms.
Tokens
Unlike the altcoins or Bitcoin operating in their own Blockchain, the tokens operate on an existing blockchain that belongs to another currency, such as Bitcoin or Ethereum. Tokens provide a way to define a protocol, and also to finance the operating expenses necessary to host it as a service. Bitcoin and Ethereum have tens of thousands of servers around the world, the miners, who run their networks. Tokens, in turn, cover hosting costs with integrated mechanisms, which automatically distribute the mining rewards to the home network computers.Tokens provide a template for creating shared computing resources, such as databases, computing, and file storage. At the same time, they keep track of these decentralized resources (and without requiring an organization to maintain them). This is one of the many inherent features of blockchain technology, which allows shared data to be stored in a decentralized network.
The different types of Tokens
There are several types of token, and they can differ in their functions and attributes. A token can fulfill one or more of the following functions:Cryptocurrency used as a payment method between participants of a platform;
Cryptocurrency used as a payment method for participating in a given platform (Start-Ups, Airdrops …);
A digital asset (Actions / Vests of a given platform);
A way to count values (number of API calls, the volume of torrent uploads…);
A way to prevent attacks and create smart contracts;
No comments:
Post a Comment