What are Altcoins? Here’s all you need to know

While Bitcoin was the first digital currency, Satoshi Nakamoto envisioned in 2009, all other cryptocurrencies that came after Bitcoin were termed altcoins. In other words, an altcoin or alternative coin is any currency other than Bitcoin. However, as the market is expanding further, this definition presents a very broad picture of those thousands of ‘altcoins’ floating in the market. The recent definition has started excluding the top 10 from the altcoin list. 

Altcoins are diverse and many: While Namecoin was the first altcoin (which brought forth the concept of colored coins similar to NFTs), Ethereum is the most popular and largest altcoin, and most of the altcoins are forks of Ethereum (some altcoins like Litecoin, Bitcoin Cash, etc., hard forked from Bitcoin). Bitcoin comprises over 40% of the market capitalization, Ethereum occupies 25%, and the rest of it is occupied by altcoins. There are over 17,000 different types of altcoins in the market currently. Some of the popular altcoins include Cardano (ADA), Solana (SOL), Tether (USDT), Dogecoin (DOGE), XRP (XRP), Polkadot (DOT), Uniswap (UNI), and many more. 

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