What are some of the key points about Altcoins?

A few more key points about Altcoins:

• Different goals: Many alternative coins were designed to do or improve something that Bitcoin does not. Bitcoin, for example, was designed to be a money-only currency. Some coins have added new features. Some are designed for super-fast payment, while others focus on privacy. Each altcoin can be compared to a startup or project with a specific goal.
• Altcoins provide a testing ground for new crypto ideas. Variety: Altcoins offer a variety of innovations. Altcoins like Ethereum, for example, have created ways to run code and create "smart contracts" on the blockchain. Others, such as Monero and Solana, are focused on making transactions more private and fast.
• Forks Some Altcoins are forks from Bitcoin's code. It means that someone has taken the Bitcoin software and tweaked it to create a new cryptocurrency. Examples include Litecoin Cash, Bitcoin SV, and Bitcoin Cash. They are often small (such as faster block times).
• Tokens in Other Networks Not every altcoin has its own blockchain. Most tokens run on another blockchain, like Ethereum. Imagine these as apps that run on Ethereum. They piggyback Ethereum's platform but serve different functions (e.g. governance tokens or game tokens). ).
• Stablecoins Some altcoins, such as USD Coin and Tether, are stablecoins whose value is linked to something stable. Tether and USD coin are two altcoins that are pegged 1:1 with USD. They want to minimize the volatility of crypto so that people can use it without fear.