Altcoins is the acronym for “alternative coins”. Altcoins usually emerge from a fork of another project or are created entirely from scratch. In most cases they are more or less the improved versions of an existing crypto project. There exist two types of forks, “hard fork” and “soft fork”. Since the hard fork involves a change in the rules, it will lead to the creation of a completely new coin. The soft fork is more of an updated feature of the currently existing coin. Well-known Altcoins are Ethereum, Bitcoin Cash, Bitcoin SV, Ripple, Tether, and Litecoin.
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