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Through part 1 - Asking questions, Remitano has found the 10 best questions related to the Altcoin topic voted by the Crypto-loving community on Remitano. Let's review part 1 of the program "Good questions - Good answers" HERE !
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Question: If most developments in crypto today such as DApp, Defi, etc..have been attributed to altcoins, how will this affect the fame of bitcoin?
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Time to answer questions: October 16 - October 29, 2020
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Remitano found two best answers to the question: If most developments in crypto today such as DApp, Defi, etc..have been attributed to altcoins, how will this affect the fame of bitcoin?
Congratulations to user imtiazkhan with answer;
The main concept behind Bitcoin development was “peer-to-peer electronic cash.”In beginning, Nakamoto called for an alternative to the traditional system of online commerce. Its ideas was a decentralized electronic cash system based on the technology of Blockchain system. Today In practice, Bitcoin is too slow and inefficient to act like electronic cash. Instead, many enthusiasts today view it as a form of “digital gold.”
Decentralized applications(Dapp) and decentralized finance(Defi) have become increasingly popular. With the inventions of new technologies it is much possible that Bitcoin may loss its role as king of cryptocurrencies.
- and user
dean01oreoluwa with answer;
Defi, in short, is the use of blockchain technologies (including smart contracts, decentralized asset custody, etc.) to replace all “intermediaries” with program codes, therefore maximizing the efficiency of financial services and minimizing costs.
These digital assets are designed on Ethereum codes, and usually exhibit characteristics that include having protocols and financial smart contracts. To some extent I think it will affect bitcoin based on the past records since the development of DeFi.
leading crypto assets like BTC and ETH have continued to experience low volatility in the past few days, a significant number of DeFi-related assets have managed to gain the attention of many crypto-investors, thereby pushing these digital coins to record highs.
