The Tech Quiz - Season 17

^{Introduce : I am shahariar1 from #Bangladesh
Date : 14 January 2024}

My sincere gratitude and greetings to all who are reading my content from anywhere in the world (Peace be upon you) Today I am going to participate in this contest organized by honorable Admim @malikusman1 . I would like to thank him for organizing this beautiful competition. Altcoins what! Detailed discussion on what are my favorite Altcoins etc!

Without further ado, I'm going straight to the Q&A phase of the competition. Forgiveness of mistakes will look good.

We sometimes see people advise that if the price of Bitcoin goes up, the value of altcoins will go up. The question in our mind must know that what is altcoins? Every coin other than Bitcoin is called an altcoins in the crypto currency market. Those who move with Bitcoin. When the value of Bit Coin increases, the value of all these altcoins increases. Again, when the value of bit coin decreases, the value of all these altcoins decreases. That is, Bitcoin is called an alt coin that follows. Again every coin except bitcoin is called altcoins but in cryptocurrency market.

source

Now, if we talk about the popular altcoins in the crypto market, then Illyrium, Bnb, XRP come to the top.

Ethereum (ETH):[Market cap: $223.3 billion.]
Ethereum is the most altcoin in the current market. It plays a special role in users running decentralized applications. Unlike Bitcoin, which primarily operates as a distributed competitive network. Despite the high fees of this coin, Ethereum occupies the crypto space 1.

Binance Coin (BNB): [ Market cap: $37.4 billion]

BNB is a major token associated with the Binance exchange. BNB also has applications outside of the Binance platform, such as payment processing. It is used to pay trading fees. The use of BNB in ​​staking any coin in the market is immens.

XRP (XRP):[Market cap: $36.2 billion.]

The main function of this coin is to facilitate payments and remittances. It also facilitates exchange between different currencies using Ripple Labs' technology. Note that XRP has faced many challenges in the past but currently its popularity is high.

This picture design by canva

Among my favorite altcoins, Ethereum is my favorite because of its significant impact on the crypto market. Here's why:

Vibrant Ecosystem: It hosts various decentralized finance protocols, NFT marketplaces and more. Ethereum has a strong ecosystem with many projects, tokens and DeFi platforms.

Upcoming Upgrades: Ethereum aims to improve security at scale and energy efficiency. The 2.0 upgrade makes the transition from proof-of-work to proof-of-stake a simple process that makes Ethereum even more powerful.

Community Support: Ethereum collective effort drives innovation and adoption. This is a passionate and active community of developers, enthusiasts, and contributors.

source

Hope you like my content. Hope you have gained detailed knowledge about All Coins through my content. Sorry for the mistakes. Ending the content here wishing everyone good health.

Inviting some of my well wishers to participate in this contest. @jimiaera02, @inspiracion, @pelon53 The contest link is at the very top of the post.

@disconnect Thank you for finding and saving these beautiful contests for us. Which helps us find this competition.

^{And I invite you to support @pennsif.witness for growth across the whole platform through robust communication at all levels and targeted high-yield developments with the resources available.}

^{Click Here}

Cc :
@malikusman1

Best regards,

shahariar1

The End