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Altcoins Basic Guide 2021: Details & How it Works? The word altcoin refers to any cryptocurrency other than Bitcoin or an alternative to the popular BTC. Altcoins were launched after the massive success of Bitcoin, and their numbers are rapidly rising. Since the release of Bitcoin, more than 900 altcoins have been created. Bitcoin, the first cryptocurrency that got much recognition and became so popular in such a short time, lacked on many terms and thus, other Altcoins came into the picture. For example, Litecoin was designed to process the transactions faster; some are developed to optimize privacy, hashing algorithms, distribution methods, etc. Namecoin, Litecoin, and Dogecoin are some examples of altcoins.
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