What is the difference between Bitcoin and altcoins
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Bitcoin is the pioneering cryptocurrency, designed as a decentralized digital currency. It operates on its blockchain and is widely recognized as a store of value. Altcoins, or alternative cryptocurrencies, encompass a diverse range of digital assets beyond Bitcoin. They often serve different purposes, like smart contracts, privacy features, or specialized use cases, offering variations in technology, governance, and economics. While Bitcoin maintains dominance and stability, altcoins foster innovation and cater to specific needs within the crypto ecosystem.
Bitcoin is the first and most popular crypto coin in the market. It was developed to act as a digital alternative to money. Bitcoin pioneered the decentralized network called the blockchain, which is a public ledger that records all transactions.
Whereas an altcoin refers to any crypto coin or token apart from bitcoin. Alt means alternative. Some popular altcoin are ether, dogecoin, ripple, litecoin. These coins are created to overcome some shortcomings in bitcoin. Altcoins offers a safer and secure passage of transactions.