- Several altcoins prove to be a vital part of the crypto industry.
- Dogecoin (DOGE),Shiba Inu (SHIB), UniSwap (UNI) and Dash (DASH).
- The following are short history of DOGE, SHIB, UNI and DASH.
For an average person, when taking the topic of cryptocurrency, the first which comes to their mind and those who are clueless regarding it too, is the Bitcoin (BTC). However, the times have changed with the rise of the altcoins profusely. The developments in regards with the blockchain technology has completely catapulted the altcoin industry.
Moreover, not taking in regards to the top most altcoins, lets catch a glimpse of how and reason behind the start of certain prominent altcoins of the industry.
The ‘accidental coin’, ‘the People’s coin’, ‘the meme coin’ are often few alternatives for this altcoin. Yes, the Dogecoin (DOGE) is one altcoin which rose to epic fame and market capitalization in recent times.
Besides, from being adored by all, the overall market cap of DOGE has increased so much that now DOGE ranks 10th place. The altcoin was launched in the year 2013, merely as a joke, by Billey Markus and Jackson Palmer. Surely, till date the developers both of them couldn’t believe where their crypto stands. They still proclaim they had absolutely no intentions of any sort, except for making fun of the crypto industry.
In addition, no wonder why it’s adored by all, as it has the Japanese breed dog, Shiba Inu’s face for the coin.
Furthermore, the overall market cap of the DOGE stands at more than $26 billion. Also, DOGE current price is at $0.199 with a decrease of 0.29% at the time of writing.
Shiba Inu (SHIB)
This altcoin could be said to be a complete replica of the popular Dogecoin. In addition, the Shiba Inu (SHIB) was solely started only for destroying the DOGE.
Moreover, the SHIB was launched only last year, 2020. Despite such a short term the current market cap of SHIB accounts for about more than $7 billion. On the other hand copying the same Shiba Inu dog image , sort of even cuter than DOGE though.
Likewise, the SHIB was also considered as a meme based crypto. Many speculated it would fail adversely. However with the backing up from Elon Musk, who tweets every now and then, SHIB has reached prominent heights.
Moreover, SHIB has a loyal fan base who expects it to rise up like DOGE similarly. In spite of all this, the current market price of SHIB stands at $0.000007 at the time of writing.
As we spoke about technological advancements, the UniSwap (UNI) is one of the best examples. Apart from being a decentralized platform, UniSwap is solely dedicated to all sorts of finance based services, basically DeFi.
In spite of the platform being launched in the year 2018, owing to its profuse decentralized finance services, UniSwap has spiked up profusely. It was only 2 years later that the platform bought out its native token, the UNI.
Moreover, the liquidity pools with the finances ought to be the most important and vital factor for UniSwap platform’s rise. In addition, it eliminates all sorts of issues with liquidity pooling giving out automated solutions.
Also, UniSwap made sure none of the defaults saw that other first generation decentralized exchanges were present with UniSwap.
With all this, the current value of UNI stands at $23.15 at a dressing range of 3.69% at the time of writing. Besides, the overall market cap of UniSwap accounts to about more than $14 billion.
Another one in our list in regards to the technology driven aspects is the Dash (DASH). The open sourced blockchain platform is extremely unique when compared to other altcoins. In addition, the uniqueness is that instead of using the conventional transaction protocols, Dash uses ‘Masternodes’.
On the other hand these masternodes work at an amazing speed, with all transactions taking place almost instantaneously.
Moreover, looking at its history, the DASH, which is the native token of Dash platform, was actually launched as a hard-fork for Litecoin (LTC) in the year 2014.
In spite of all these factors, the Dash platform is now one of the most trusted platforms for amazing transaction speeds and extremely low costs compared to others. Amidst all, the sole goal of the Dash platform is to produce a crypto dedicated for payments at extreme speeds.
Besides, now the price of DASH stands at about $154.55 at the time of writing with an average surge of 2.81%. Also, the overall market cap accounts to about $2.93 billion.