An altcoin is also known as a Bitcoin Alternative or Alternative Cryptocoin, which refers to all cryptocurrencies other than Bitcoin. Most of the cryptocurrencies in the early stage were created through forking (copying Bitcoin codes).

An altcoin is also known as a Bitcoin Alternative or Alternative Cryptocoin, which refers to all cryptocurrencies other than Bitcoin. Most of the cryptocurrencies in the early stage were created through forking (copying Bitcoin codes)

With the development of blockchain technology and relevant projects, there are many different variations of altcoins, along with many emerging public chains and tokens with high potential, behind which is technological innovation distinct from that of Bitcoin and Ethereum. Because of this, altcoins are more commonly known as “mainstream coins” now.

Every time we mention altcoin, we mean “token” instead of “coin”. This is because coins are only used as a medium of payment and trading or as a store of value. In contrast, a token will vary depending on a project’s smart contract, thus enjoying more diverse functions.

The most important token standard is ERC-20, whose open-source nature makes it easily accessible for the public to develop and issue an altcoin of their own on it. As a reference, there are over 20,000 altcoins listed on CoinMarketCap.
#Altcoin