What is an altcoin?

What are Altcoins? Are they useful or are they just cheap Bitcoin replicas?

An altcoin is the contraction of the "alternative coin" expression This classification refers to all non-bitcoin cryptocurrencies. An altcoin is an alternative to bitcoin, this cryptocurrency that was itself created in 2008 to offer the traditional financial system a decentralized alternative.

Altcoins (NEO, Ripple, Monero, Ethereum, Dash, Litecoin, etc.) are digital assets (non-fiduciary currencies) that rely on blockchain technology, like cryptocurrencies. Altcoins incorporates functionalities other than bitcoin and other authentication protocols. For example, Litecoin (LTC) (modified bitcoin version) aims to offer reduced transaction costs and times compared to those of its illustrious elder.

Other altcoins, such as Ethereum (ETH), are at the heart of real ecosystems today that allows you to sign smart contracts. The number of altcoins is potentially infinite, so today everyone can decide to start their own cryptocurrency. Each altcoin has its own exchange-value and volume.

On the Coinmarketcapplatform, the "profit" and the capitalization of the 100 largest cryptocurrencies (i.e. bitcoin and altcoins) can be displayed in real-time.

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