When Bitcoin first burst onto the scene in 2009, it was heralded as a game-changing decentralized cryptocurrency that would revolutionize the financial industry. And while Bitcoin has certainly achieved a great deal of success, it has also spawned a whole new industry of altcoins in its wake. So, what exactly is an altcoin? An altcoin is simply any cryptocurrency that is not Bitcoin. That’s it. Altcoins are often created in an attempt to improve upon the shortcomings of Bitcoin or to address specific needs that Bitcoin doesn’t address. For example, Litecoin was created as a more lightweight and faster alternative to Bitcoin, while Ethereum focuses on smart contracts and decentralized applications. There are currently over 5,000 different altcoins in existence, and new ones are being created all the time. While not all of them will be successful, some have the potential to become the next big thing in cryptocurrency. So, if you’re looking to get involved in the world of cryptocurrency, don’t forget to check out the altcoins!
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