The existence of an altcoin depends, among other things, on the extent to which the coin offers a unique addition or variation to the existing blockchain currencies, in particular in relation to Bitcoin. For example, Ethereum not only functions as a means of payment, but as a platform it also offers possibilities for ‘smart contracts’, which also make other applications possible – an important reason that this coin is now number two in market value, behind Bitcoin. To determine the right to exist of a coin, it is important to map out a few points.
The official website is obvious, but certainly important. Is this up-to-date and is the concept clearly explained? In addition, practically every crypto coin has a white paper (white paper), which can usually be downloaded as a PDF from the official website. This describes the technical explanation and unique addition of the coin. Although not always complete, a convincing white paper is an important marketing tool for the credibility of a currency. For doing all these you can follow the neuer capital platform blog now.
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Often a roadmap is also available on the site, which shows the important upcoming updates and developments in a well-arranged timeframe. It is striking, for example, that successful implementation of events on the roadmap often ensures stability among the users of the currency, which often results in an increase in the currency value. The successful implementation of the SegWit technology in Bitcoin, for example, led to an enormous price increase. A planned rebranding or cooperation can also cause a price increase. In addition, the roadmap clearly shows the ambition of the developers.
To investigate how lively the development of a crypto coin is, GitHub is a good adviser. Here the open source code of most coins is made available and it is immediately visible how much is being worked on a project and by whom. A lively repository on GitHub is a good indicator for a healthy currency.