Altcoins
Altcoins, short for “alternative coins,” are cryptocurrencies that are alternative to Bitcoin. Bitcoin was the first and most widely-known cryptocurrency, and it continues to be the dominant cryptocurrency in terms of market capitalization and adoption. However, since its creation, many other cryptocurrencies have been created, which are collectively known as altcoins.
Altcoins are similar to Bitcoin in that they are digital currencies that use cryptography for security and are decentralized, meaning that they are not controlled by any central authority or institution. However, altcoins differ from Bitcoin in their technical design, intended use cases, and other aspects. For example, some altcoins are designed to be faster and more efficient than Bitcoin, while others are focused on privacy or other specific use cases.
Altcoins can be traded on cryptocurrency exchanges, just like Bitcoin, and many investors hold altcoins as part of their overall cryptocurrency portfolio. Some popular altcoins include Ethereum, Litecoin, and Ripple.
