What are Altcoins ?

Altcoin stands for Alternative Coin, all other digital coins except Bitcoin ($BTC) are called Altcoins, since Bitcoin was the first successful digital currency. Therefore, other digital coins that run on the blockchain except Bitcoin are called alternative coins. MegaMoon platform also uses Altcoins as well.

• How many types of Altcoins are there ?

1. PoW Altcoins

• Using the same mining method as $BTC, is an old method that uses a lot of energy, including $DOGE , $LTC , $BCH , $XMR etc.

2. PoS Altcoins

• PoS is a low energy mining method. Just bring the crypto you want to invest by staking for receive dividends proportional to your investment such as $ETH (V2), $ADA , $SOL , $TON etc.

3. Stable Altcoins

• It is a digital coin that binds its value to real world currencies such as $USD , $EUR , $GBP including gold and others such as $USDT , $USDC , $PAXG etc.

4. DeFi Altcoins

• Use smart contract to verify transactions instead of traditional centralized systems such as $UNI , $COMP , $CAKE , $SNX etc.

Although Bitcoin was the first successful blockchain currency, There are also calls that Ethereum or $ETH shouldn’t be counted as Altcoins, because without $ETH there wouldn’t be smart contracts and dApps, so $ETH is also a pioneer.

• What are Altcoins associated with MegaMoon ?

1. $USDT

• The main Stablecoin that MegaMoon is currently using, whether it’s a MegaMoon lottery ticket purchase system, MegaMoon Dealer system, MegaMoon Exchange system, MegaMoon LP system, including a total of rewards pool are spent in $USDT.

2. $MATIC

• MegaMoon launched on the Polygon blockchain, users will need to buy $MATIC in their wallet for gas fees on transactions to fuel the Polygon.

*In the future, MegaMoon will enable $MOON token to spending in the ecosystem instead of $USDT.

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