What is altcoin?

[bitpation]

Altcoin is an alternative coin created because the amount of bitcoin is very limited. In addition, high bitcoin prices cannot be bought by everyone. That's why Altcoin is here so that it can be an investment solution for everyone.

[Salauddin]

An altcoin is any digital cryptocurrency similar to Bitcoin. The term is said to stand for “alternative to Bitcoin” and is used describe any cryptocurrency that is not a Bitcoin. Altcoins are created by diverging from Bitcoin consensus rules (the fundamental rules of the cryptocurrency’s network) or by developing a new cryptocurrency from scratch.

Most popular altcoins use the same fundamental building blocks as Bitcoin. This approach is relatively easy to carry out because Bitcoin is a free, open source platform. When an altcoin forks at the blockchain level, an alternate system of consensus rules must be used and the coin will have an entirely different distributed ledger. The same is true for altcoins built from scratch.

Some altcoins have different monetary policy rules built into the currency to encourage different uses and treatment. Policies such as minimum spend, or positive or negative interest on coins stored, can encourage or discourage hoarding. Policies for coin mining may function differently from Bitcoin, as may the number of coins paid out per new block mined.

Some altcoins are made to discourage ASIC or GPU mining. This limitation is designed to reduce the advantage of specialized coin miners, as in the case of Litecoin, upon which half of all altcoins are based. An altcoin blockchain may also store different metadata about the coin’s previous transactions or may allow the coin to be repurposed as an alternate asset.

While some altcoins can be attempts to enrich founders and offer little new, many have found niches because of way their differences encouraged new miners and uses. Since Bitcoin's inception there have been upwards of 500 altcoins created. Litecoin, Dogecoin, Blackcoin, Freicoin, Peercoin, Vericoin, Myriad, NXT are just a few examples of altcoins.

reference link : https://noshortlink/hWAKDn

[Cheratu Mesir]

Altcoins are derivatives of the bitcoin unit, the initial indicator of which is the counterweight and comparator of bitcoin prices. The initial purpose of the distribution of the altcoin was to cover the weaknesses of bitcoin with a limited supply of 21 million coins. Bitcoin consists of only one coin, while altcoin consists of many types of coins even though two coins both adopt blockchain technology.

[Master107]

Altcoins is alternative investment of bitcoin. There are a lot of altcoins in the market and you can choose whatever you want to invest for long term or for short term. It depends on your understanding of every possible aspects.

[Ragnar]

Alt coin - is also same as bitcoin. It is a cryptocurrency but it's based on bitcoin like litecoin, ethereum, dogecoin and much more. If we're talking about token it's ethereum based token or simply called as erc20

[b-day38]

In my own point of views Altcoins is a group of coins created to compete bitcoins and this is now composed of thousand of coins.

[Tayecrypto]

Altcoin also known as "alternative coin" are coins which are created after bitcoin was invented in 2009. You can check coinmarketcap to see list of all altcoins in crypto world.

[investmark]

In my opinion, fights are great for quickly grab cash on some currency if you have a lot of your own funds.

[avicii]

I'm a new member here,  please i want to know what is altcoin.

Usually people call it a coin other than bitcoin. that's what I know about altcoins. the type of altcoin is very much. maybe I will research very long to get to know the type of altcoin.

[Unknown]

You can find it here https://www.altcoinstalks.com/index.php?topic=52144.0
Try to use search button first before asking for a help

[Stuart]

I'm a new member here,  please i want to know what is altcoin.

Altcoins are called alternative cryptocurrency, they are coins other than bitcoin, or used instead of bitcoin. Altcoins includes Lisk, ETH, LTC, KICK, GOAL... And many more. There are over five hundred to one thousand or two thousand of altcoins out there in the crypto market.