##Are Altcoins or alternatives to Bitcoin?

[chrisbennet]

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All other crypto coins are generically called “Altcoins”, which basically mean alternative to Bitcoin. There are more than 11,000 crypto coins listed on CoinMarketCap, a market research organization.



Altcoins are cryptocurrencies that were built on the success of Bitcoin by changing its rules to appeal to specific users. For example, Ethereum is a cryptocurrency that introduced the idea of “smart contracts”, which are basically codes that run only when predetermined conditions are met.




They use smart contracts to execute agreements between buyers and sellers, opening possibilities for the future development of applications that rely on these contracts.



As the cryptocurrency market expands rapidly, many wonder if Bitcoin's lead will end with any of the coins that came after it. Simply put, Bitcoin is the first cryptocurrency and all others are “Altcoins.”