Cryptocurrency’s uses are expanding.
Many altcoins are not just cryptocurrencies, but their technology can be harnessed for other uses. Blockchain technology opens the door to a variety of applications important to different industries, including peer-to-peer financial platforms, automation, building trust around transactions and providing greater access to credit. These use cases, which are unrelated to Bitcoin, are “finally being recognized and (are) achieving meaningful adoption,” says Clayton Gardner, co-founder and co-CEO of Titan, a cryptocurrency investment platform. Gardner says altcoins are gaining on Bitcoin because the industry is leaning toward “different crypto sectors that have different value drivers such as smart contract platforms, DeFi (decentralized finance) apps, NFTs (nonfungible tokens), play-to-earn games, distributed storage platforms, etc.” These applications are fundamental for developing new ways for consumers and businesses to digitally interact and manage operations.
