Alternative coins are alternative currencies in the cryptocurrency environment, which often originate from splits (blockchain split) of existing cryptocurrencies like Bitcoin. Although these new cryptocurrencies differ from “original currencies” like Bitcoin, they typically feature many similarities regarding the mining algorithm or the wallet functionality. Well-known altcoins are Bitcoin Cash, Eos, Iota, Monero or Xrp. One of the main motivations for the emergence of altcoins are higher levels of privacy and anonymity in electronic payments based on cryptocurrencies, for which the term privacy coins has emerged. For example, Altcoins derive from Bitcoins may be generated (“mined”), stored in virtual wallets and traded via corresponding exchanges (crypto exchange), much like Bitcoin.
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