The term altcoin is used to describe digital assets that are alternatives to the first cryptocurrency, Bitcoin. The second cryptocurrency to be introduced to the market was Litecoin. In other words, Litecoin, which was first introduced in 2011, was the first altcoin. Since 2011, the number of altcoins has increased rapidly, and as of 2023, there are more than 2000 active altcoins. The purpose of releasing altcoins is to offer an alternative to Bitcoin in areas such as higher transaction speed and energy efficiency.
