Digital Currency

What is an altcoin?

Any coin other than Bitcoin is considered an altcoin, short for alternative coin. Some altcoins have similar foundations to Bitcoin, but an increasing number of cryptocurrencies are using delegated proof-of-stake (DPoS) to achieve consensus.

While some altcoins are forked from the Bitcoin blockchain others are created from scratch. All altcoins are attempting to create systems that are faster and cheaper than Bitcoin. Thus, each altcoin has individual features that addresses the flaws of Bitcoin in their own unique feasible ways.
While Bitcoin has dominated the market overall, it is clear that many altcoins have found a niche in the market.

Some popular altcoins include:

  • Litecoin – Is an open source, peer-to-peer cryptocurrency that offers faster transactions than Bitcoin. It is also one of the very first altcoins to have emerged.
  • Ethereum – Is an open-source, public, blockchain based development platform that allows developers to create smart contracts on autonomous networks
  • Ripple – Is a real-time gross settling system that allows banks to remit money and exchange currency globally.

There are many such altcoins that you can find and new ones that are created each and every day. You can also check our cryptocurrency page to learn in detail about popular altcoins.