Each altcoin is implemented from its own blockchain and its own P2P network (Per-to-Per or peer-to-peer network in Spanish). Additionally, some altcoins use their own mining algorithm. The most popular are Prof of Work (or proof of work in Spanish) and Prof to Stake (proof of stake). Therefore, anyone with a team that they can mine (produce) an altcoin with would be able to produce their own cryptocurrency with Meme Token

These currencies are quoted on the financial markets and their value depends on supply and demand. Altcoins today cannot be used to transact or acquire goods and/or services. If you want to make a transaction or acquire a good or service, you must convert to Bitcoin (this is accepted on certain occasions to make payments). In the event that bitcoins are not accepted as a means of payment in a transaction, they can be changed to fiat currency (such as euros, dollars or yen).

Altcoins are used as an alternative source of funding for business projects related to technology and the development of new digital concepts. When a new project is born, what is called an “ICO” or “initial coin offering” is carried out. The project promoters make available to the public a certain number of coins that they can buy and thus finance the projects with Hokk Finance Meme Tokens.

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The objective of an “ICO” is the same as that of a public offer of sale (IPO) on the stock exchange, except that in this case the securities that are delivered to the investor are altcoins

Benefits of altcoins

The advantages of altcoins are mainly:

Decentralization: These coins do not depend on any monetary authority that controls their issuance and/or circulation. Therefore, they take central banks out of the process and decentralize every conceivable aspect in real life.

Utility: Each altcoin is designed for a different purpose or theme, thus seeking to add value.

Innovation: Every new altcoin aims to include or provide technical details that Bitcoin did not incorporate at the start. Therefore, they are trying to improve its functionality.

Disadvantages of altcoins

On the other hand, the disadvantages of altcoins are:

Liquidity: The liquidity of most altcoins is currently negligible compared to Bitcoin.

Many projects fail: Projects that fund altcoins are not always successful.

What is Tron (TRX)?

How does Tron work?

Tron was inspired by another platform, EOS, for the choice of its consensus mechanism: DPoS, for Delegated Proof-of-Stake. Part of the crypto community accused the English White Paper of being a plagiarism of the FileCoin and IPFS projects, with some even calling it a possible scam, even though the original is in Chinese.

A competitor to Ethereum?

The architectural choices are in fact at odds with Ethereum: while Tron implements a less secure and less fair network towards small investors to favor the capacity and speed of transactions, Ethereum makes the choice of better economic incentives for anyone wishing to help. securing the network by promoting the emergence of a large number of nodes.

The choice of robustness associated with decentralization pushes Ethereum to develop overlays on the main blockchain in order to overcome the limits of the network. It's out of the question for Tron at the moment.

Tron, marketing that seduces

Tron is nonetheless a successful marketing story. The teams were able to find visibility in this ultra-competitive environment. Arrived late in the ecosystem, Tron was able to draw inspiration from already existing projects in order to save R&D costs.

By taking inspiration from the open source code, Tron was able to integrate the development of smart-contracts in Solidity and the consensus model of EOS, among others, at a lower cost. Funds could therefore be allocated to other sectors, in particular for the development of an active community and lobbying with important actors.