• Altcoins are any coins or tokens that isn’t Bitcoin.
• Altcoins are created to fill a need that arises from perceived market gaps that Bitcoin does not fill.
• Popular altcoins include tokens of use, tokens of payment, tokens for security, and stablecoins.

Alternative cryptocurrencies, commonly known as altcoins, have been a major part of the blockchain industry since the genesis block of Bitcoin was created over ten years ago. Altcoins are any coins or tokens that isn’t Bitcoin and are created to fill a need that arises from perceived market gaps that Bitcoin does not fill. The variety of altcoins is growing and can be created by anyone with an internet connection due to blockchain’s open source nature.

Tokens of use are altcoins within a network that offer services like purchasing services, paying network fees, and redeeming rewards. Tokens of payment are exchanged for value in the form of currency, while tokens for security are tokenized assets regulated by the Securities and Exchange Commission and traded on stock exchanges. Stablecoins are altcoins that provide relative price stability and are usually backed by a reserve asset, such as gold or USD.

The most popular altcoins are Ethereum (ETH) and Tether (USDT). Ethereum is a decentralized platform that runs smart contracts and allows developers to create decentralized applications (Dapps). On the other hand, Tether is a stablecoin that is pegged to the US dollar, allowing users to store and transfer value without worrying about price volatility.

Overall, altcoins have become an integral part of the cryptocurrency market, providing more options to users than ever before. With new altcoins emerging every day, the possibilities are endless and the future of blockchain technology looks very promising.