Typically, an altcoin (short for “alternative coin”) is any cryptocurrency other than Bitcoin. Bitcoin was the first cryptocurrency and remains the most well-known and widely used, but there are thousands of other cryptocurrencies in existence, each with its own unique features, use cases, and underlying technology.

Some popular altcoins include Ethereum (which introduced smart contracts and decentralized applications), Ripple (known for its focus on fast and low-cost international money transfers), Litecoin (often considered a lighter and faster version of Bitcoin), and many others like Cardano, Polkadot, Chainlink, and more.

Altcoins can serve a wide range of purposes beyond being a digital currency. They can be designed for specific applications like decentralized finance (DeFi), non-fungible tokens (NFTs), supply chain management, privacy-enhanced transactions, and more.

It’s important to note that the cryptocurrency space is highly dynamic, and new altcoins are frequently introduced, while others may become less relevant or even disappear over time. When considering investing in or using altcoins, it’s crucial to do thorough research and understand the unique characteristics and risks associated with each one.

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