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What Is?...
Altcoin is a term used to describe alternative cryptocurrencies that are not Bitcoin. These cryptocurrencies are created as alternatives to Bitcoin, with different features, uses, and goals.
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History of Altcoins
1. 2011: First altcoin, Namecoin, was created to provide a decentralized DNS (Domain Name System).
2. 2013: Litecoin, one of the most popular altcoins, was launched as a faster and more lightweight alternative to Bitcoin.
3. 2014-2015: Many altcoins emerged, including Dogecoin, Ethereum, and Monero.
4. 2017: Altcoin market experienced significant growth, with many new coins launching and existing ones gaining popularity.
5. Present day: Over 5,000 altcoins exist, with new ones emerging regularly.
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2. Smart contract platforms
Enable decentralized applications and smart contracts (e.g., Ethereum, Binance Smart Chain).
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4. Meme coins
Created for fun or as a joke, often with a community-driven approach (e.g., Dogecoin, Garlicoin).
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5. DeFi coins
:* Related to decentralized finance, offering lending, borrowing, and yield farming opportunities (e.g., Maker, Compound).
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6. Gaming coins
Used for online gaming, often with rewards and in-game purchases (e.g., Enjin Coin, Roblox).
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