Altcoin refers to any cryptocurrency alternative to Bitcoin. The term “Altcoin” encompasses all digital currencies that emerged post-Bitcoin’s inception in 2009. These include well-known cryptocurrencies like Ethereum, Litecoin, and Ripple, as well as thousands of lesser-known projects. Each altcoin operates on its own blockchain or utilizes existing blockchains with modifications that enhance certain features or introduce new ones. For instance, Ethereum brought smart contracts into the crypto ecosystem, providing a platform for decentralized applications.
Altcoins can vary in their consensus mechanisms, tokenomics, and overall purpose. Some aim to address Bitcoin’s perceived limitations, like transaction speed or mining centralization, while others target specific industries, such as supply chain or finance. Investors and developers see altcoins as opportunities for innovation and diversification within the burgeoning world of digital assets.
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