why so many altcoins?

[jevee]

hello!

why are there so many coins to choose from, do they really each have something unique about them?

[jvdp]

hello!

why are there so many coins to choose from, do they really each have something unique about them?

Bitcoin is the father of cryptocurrency other cryptocurrencies are altcoin. In current market many altcoins are created in digital transaction. But all the altcoins are followed by Bitcoin. Some innovative things are designed in some altcoins but almost same in most of the altcoins. So altcoins is one of the cryptocurrency it will handle any place.

[myigitcoin]

every altcoin has different purpose. example some altcoins are created to transaction or buy something in the other way maybe you hearded useless ethereum coin for nothing. some of them are scam. this is why to many altcoins.

[Bamselk]

do they really each have something unique about them?

No, some of them are copycats or otherwise dodgy coins.

However, all of the top ones are unique in at least some way - for example, Litecoin has faster block times; Monero has ring signatures for anonymity; IOTA has a DAG-based system; Ethereum has smart contracts, and more.

Whether or not they're different enough to warrant their price is another matter though.

[shandi albert]

hello!

why are there so many coins to choose from, do they really each have something unique about them?

All about competition, altcoin is very much and from some they have no value even their innovation is less desirable ..
without any altcoin maybe bitcoin value is not like nowadays.
About your question ''This type of virtual money is not just a bitcoin ,,
 The similarity is both Cryptocurrency, aka equally digital currency .. Well of this similarity there is an element of difference, which is making the currency.

[webtricks]

hello!

why are there so many coins to choose from, do they really each have something unique about them?

There are so many coins because every one is free to create one and moreover making coin, selling it through ICO can make you rich without doing anything.
The time had gone when each coin used to have something unique and caters specific purpose. Nowadays, most of the coins don't even have their own unique blockchain. They are either build on Ethereum, or Waves or NEM blockchain. In recent times, we started using the word 'token' for such coins. So in short, all tokens are shitty. Only go for coins which really have something unique to offer.

[grimesrhymes]

hello!

why are there so many coins to choose from, do they really each have something unique about them?

There are so many because it is a booming space right now and most are new ideas and so many people with the same idea are competing to be the one that becomes dominant. There is a lot of money in altcoins right now and so there are more and more new coins each day trying to get a slice of the pie so to speak.

[VeeraS]

hello!

why are there so many coins to choose from, do they really each have something unique about them?

some ico developers have ideas and concepts that they carry on crypto innovation. there are all sorts of white papers they offer and the technology they apply. but not everything has a future. you must be smart to choose and investigate every investment you will make.

[withche.07]

Yeah every other coins has its own unique special purpose targeting different thing.  There are also platforms for tokens so it varies so much. You should choose carefully.

[Koadharber]

hello!

why are there so many coins to choose from, do they really each have something unique about them?

Yes theres uniqueness on some altcoins but most of them are just completely identical but still they did able to manage to have some values. After bitcoin all coins being created considered as alts. They do have different concept or features but still bitcoin is still on the edge and they are just still leaving behind but doesnt mean that altcoins are trash but they are also good for side income and some of them do really have usage on real life just take a look on ETH. It do have smart contracts which can possibly used for new innovation.

[SONG GEET]

Almost all of them are just copy cat of bitcoin or other coins (>90%) and are scams without any real development.
5% or even more of altcoins are actually ETH based tokens that is not a true coin, they are sold by projects so they can collect funds for their operation.
Remaining 5% of the total coins are only worth to check as they have constant development + unique features than others.

[giveen]

Because that's how this world works if something is successful people quickly start replicating the basic idea and introduce new and innovative features. See fidget spinners there are millions of design available.

Same happened with btc in earlier years very few of them saw the potential and created similar coins to btc one being ltc and even doge. Then came eth completely different idea and something unique.

And like this many more started being added and soon in no time there was thousands of alts.

[VladPoly]

Because each project can now easier to obtain money through ICO, you simply need to release their tokens. That is why most of the tokens eventually will go into history with the collected money and we need to be careful

[firstvava]

Only a handful of altcoins have new features or innovations. Most of the altcoins is plagiarized or modified. Be sure to shine your eyes.

[SiDtHeBeSt]

Well i think the simplest answer to thid will be, as you know bitcoin was very successful and it's price id very high. It was the original cryptocurrency and also the modt popular cryptocurrency. After seeing bitcoin become so successful alot of new altcoins came out as people thought they would becomd as successful as bitcoin. Still only some of thr altcoins bring out something new. Most of them are just clones of others.

[Avaemily]

There are lot of them,  but some of them are junks..

[terrific]

hello!

why are there so many coins to choose from, do they really each have something unique about them?

Before when bitcoin was launched there are too many ideas came out that has brought it during those early days. And as bitcoin is moving along its journey, developers are thinking of something new that bitcoin doesn't have. Most of them before wants to upgrade bitcoin and that's why they are creating their own coin that supposed to replace bitcoin but today it's different, they are creating altcoins for profit purposes only.

[coingrow]

Crypto is at the beginning of its life and there are tons of ideas that can be brought into blockchain to make the process more transparent for users. This is the reason that most businesses are moving to blockchain and hence so many new alts are coming into existence.

[Falgorn]

Most of the Altkoks were created as a result of the ICO to implement some new ideas, a new project for the coins to work in some narrow field of our activity. There are a lot of projects, so there are a lot of coins created. Now they are more than a thousand. However, the market selects the necessary projects that people support with their investments, many of the projects immediately become unnecessary and useless. Such soon will be forgotten. However, in general, such a process is necessary, since it is democratic and only in this way can the altkoys be improved by going through selection in the financial market.

[rayk]

Just because there are so many people who just want to make easy money without any real work, also there are so many who buy these unreal stories.