Bitcoin may be the first and most popular decentralized virtual currency, but it is not the only one that is making huge waves in the digital currency spectrum.
BlackCoin, which positions itself as the currency of the future, has shown significant movements in the market as it was chosen by Bittrex, an online cryptocurrency exchange, to join its platform, but taking over the spot previously held by another altcoin, Litecoin.
The announcement was made on the BlackCoin website, stating:
“After recent discussion with Bittrex, they have proposed to drop their Litecoin market in favour of BlackCoin. The reason being as the current methods of arbitrage are not beneficial to fast moving markets, which in the world of trading is vital. This will bring trading to an all new faster domain.”
Litecoin, which comes second to Bitcoin in terms of popularity in the landscape of cryptocurrencies, is not troubled by the decision of the cryptocurrency exchange, reasoning that the Litecoin market in other online exchanges proves to be thriving and can be compared with the Bitcoin market.
Meanwhile, another alternative currency is in the spotlight after its market cap exceeded the US$1 million mark.
The fast and flexible digital currency, ViaCoin, made an impressive record when it achieved such market cap in several days, taking advantage of the fact that it is traded on seven exchanges already and can be mined by those with the Scrypt ASIC miners.
The altcoin, which received an investment worth 610 BTC during its pre-sale on Bittrex, shows a lot of potential, especially that it allows for the creation of application on top of its blockchain—a move the Bitcoin developers are strongly against.
With the rise of BlackCoin and ViaCoin, as well as the continued success of Litecoin in the macro perspective, the sector of online gambling is poised to become broader and more varied.
Ever since Litecoin gambling has been established, many Bitcoin gambling sites have optimized their software to support this cryptocurrency aside from Bitcoin. Likewise, a number of Blackcoin gambling platforms continue to enter the online betting scene. More, the gambling community can now set its eyes on ViaCoin; thanks to its early market success.