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When and why did the word ‘altcoin’ lose its relevance? -Breaking


Any cryptocurrency other than (BTC) were first described as altcoins for a single reason: There was a rise of projects that copied and pasted Bitcoin’s source code. The cryptocurrencies in the early stages weren’t unique enough to have a distinctive term, so “altcoin” (alternative coins) best fit their description. The community, at that point, didn’t put too much thought into other cryptocurrencies due to Bitcoin’s potential advancement — its future price growth, use cases, mainstream adoption, etc. This was crypto’s leading voice.

But things changed when people caught onto Ethereum’s smart contract platform, as it can produce “smart contract tokens” — cryptocurrencies with the ability to perform intelligent tasks autonomously.

Johnny LyuKuCoin is run by him, the chief executive of KuCoin. KuCoin was founded in 2017 and has become one of the most popular cryptocurrency exchanges. Prior to joining KuCoin he was a veteran in the auto, luxury and ecommerce sectors.