Why so many Digital cryptocurrencies ? Bitcoin, Ethereum, Litecoin? [ Bitcoin Series - Episode 5]

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Bitcoin isn't the only cryptocurrency. Just like paper money there is more than one form of currency (Dollar, Peso, Yuan, etc).

There are thousands of other cryptocurrencies sometimes called alternative coins (Alt Coins). Like Bitcoin they all attempt to solve a problem of traditional paper money. Ethereum, Litecoin, Zcash, Monero, are examples of popular alt coins with different use cases. Ethereum for instance is a decentralized blockchain that allows for smart contracts to be built on it's network. Many alt coins build their currency on the Ethereum platform.
Zcash and Monero are examples of privacy coins that make the transactions harder to trace. Litecoin is an alt coin that is very similar to Bitcoin and addressed the same problems but transactions are faster than Bitcoin are.

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