If we have to describe what is altcoin than altcoin are the cryptocurrencies that was launched after the success of Bitcoin. Till date there are more than 4800 altcoins or alternative cryptocurrencies are available out there.And according to the coinmarketcap altcoins accounted for over 35% of total cryptocurriency market in Feb 2020.
As an altcoins had an distinct categories and some of the main types of altcoins include mining- based cryptocurrencies, stable coins, security tokens, and Utility tokens.
These types of altcoins have a mining process by which new coins are generated by solving challenging problem to unlock blocks. Most of the top altcoins, into these categories are Ethereum.
Stable coin seek to improve on Bitcoin by reducing volatility. Some of the top stable coins are USDT, BUSD, USDC and many more..
So these is the some of the information about a altcoins.And how many kind of altcoins are there and what was the purpose of those altcoins so these article try to cover up some points.