Altcoins are a good example of how easily you can fool an investor when presented with a bitcoin-like concept that is a complete vaporware in reality. We dont see much of the newly launched altcoins make any headlines after a couple of years - if you look deeply in the net you will find that they have been on a ghosting mode or making up shit excuses and delaying stuff, in reality they have gone bankrupt and have abandoned the project.
What matters is the lesson learnt from them. Give at least two years to any altcoin project before making your move on it - remember that your money is hard earned.
What matters is the lesson learnt from them. Give at least two years to any altcoin project before making your move on it - remember that your money is hard earned.
Ethereum was once a waporware cryptocurrency, until it faced heavy pressure from investors. Most altcoin projects tend to launch their own token or cryptocurrency without having deployed their own Blockchain network first. TRON started this way, as well as, EOS. They now have their own independent blockchain networks competing against top industry players. Altcoins like Holochain (HOT) and Maidsafecoin (MAID), remained waporware to this date. Investors who bought such coins were scammed big time.
As to the question of why altcoins are important, it's simple. They are needed to help test the Blockchain's true limitations and/or capabilities. Without altcoins, Bitcoin would become a complete disaster. After all, you can't scale a single Blockchain network for millions of people worldwide. Altcoins bring new features to the table, while relieving the main BTC blockchain from high transaction load. Who knows how big will the altcoins market grow in the future? Just my opinion
