Tag: Do all Altcoins have their own blockchain?

Ripple is a blockchain-based digital payment network and protocol with its own cryptocurrency, XRP . Rather than use blockchain mining, Ripple uses a consensus mechanism, via a group of bank-owned servers, to confirm transactions.

As it stands, there are over 2,000 cryptocurrencies in the open market that uses blockchain for a wide variety of applications and use cases.

Altcoins are alternative cryptocurrencies other than market leaders like Bitcoin. Altcoin prices can be very volatile and risky, making altcoins not suitable for all investors. Thousands of altcoins exist, and all use blockchain technology similar to Bitcoin .

Dogecoin uses blockchain technology , just like Bitcoin and other cryptocurrencies. Blockchain tech is considered extremely difficult, although not impossible, to hack. Being among the cryptocurrencies with the largest market capitalization and widest adoption rate, Dogecoin is relatively secure.