The term "Altcoins" represents any cryptocurrency or token which is not Bitcoin. This term was created due to the thought that Bitcoin is the original crypto from which other alternative currencies were created.

When talking about Altcoins it’s necessary to talk about Ethereum which is the largest and most-known altcoin on the market right now, to really understand the concept. In addition to Ethereum, there are currently 19,200 cryptocurrencies Altcoins overall (as of this writing). Some Altcoins offer different technologies, and some just copy the code of Bitcoin with slight modifications.

Why you should know about Altcoin

Written by: Ofek B.   |   23-05-2022

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In Conclusion

Altcoins are any Bitcoin alternative cryptocurrencies, most of them offer new technology that upgrades the ability of the blockchain network technology. Ethereum, the largest Altcoin in the market to date is a blockchain network similar to Bitcoin but with improved technology and capabilities, whose native currency price is experiencing a huge increase in value which has made the network not only an excellent platform for programmers to build decentralized projects on, but also an excellent investment option for those looking to make a profit.

Investment point of view

Ethereum, as we said, is the second-largest blockchain network to date, in 2021 ETH price hit an all-time high of $4700, and since May 2020 ETH price made a 1,123.9% increase which made it an outstanding investment opportunity.

Ethereum went live on July 2015 and was co-founded by the Canadian programmer Vitalik Buterin. ETH is the native cryptocurrency of the Ethereum network with which most of the conduct on the network is paid with. Ethereum is often described as "the world's programmable blockchain", this sentence sums up the main benefit that the network offers.

While Bitcoin is a fairly limited network, the Ethereum network is designed as a convenient and easy platform for programmers to build any decentralized project/application they can think of. This makes it not only a digital means of payment but also a decentralized blockchain network on which endless projects can be built.

Ethereum background and its benefits