What are Altcoins and how are they different from Bitcoin?

What are Altcoins and how are they different from Bitcoin? There are over 2000 altcoins on the market right now. What are they? And more importantly, how are they different from Bitcoin?
What are Altcoins? So what are altcoins anyway? Are they good or are they just cheap replicas of the original, the only Bitcoin?
You might be surprised to learn that the first altcoin to enter the market alongside Bitcoin was created in 2011. Namecoin (NMC) was intended to decentralize domain name registration on the web and was also used as an alternative digital currency. .
what are altcoins namecoin
Today, more than 2000 altcoins circulate in the cryptocurrency markets. You may be wondering if we need that many of them, but the truth is that this is free market competition in action. Everyone is free to launch their own cryptocurrency. And everyone who does think or at least pretend they have something unique to offer. But in practice, most of them are cryptocurrencies or utility and reward tokens for certain applications and platforms. Despite the high numbers, only the strongest will survive to reach mass adoption. However, increasing competition does not hurt Bitcoin. In most cases, it just pushes the cryptocurrency space forward. Also, not all altcoins are straightforward versions of Bitcoin, and they often come with unique value propositions.
In this guide, you will learn about the top ten altcoins, what they do, and what they want to achieve. The altcoins discussed in this article are Litecoin (LTC), Ethereum (ETH), EOS (EOS), Ripple (XRP), Tether (USDT), IOTA (MIOTA), Cardano (ADA), Bitcoin Cash (BCH), Tron (TRX) and Monero (XMR).