The altcoin has created a huge impact on today's financial world. In simple terms, an Altcoin is a digital currency derived from the Bitcoin source code. Crypto pundits often regarded these coins as a "Bitcoin alternative." Many altcoins exist in the crypto market, including Stellar, Dogecoin, Cardano, Tether, Ethereum, Litecoin, and Ripple. These altcoins are generally backed by Blockchain technology. Altcoins are cryptocurrencies underpinned by a 100% decentralized blockchain technology that enables P2P global transactions.
