Black_background_logo_BitcoinWorld-removebg-preview
Bitcoin (Courtesy: Twitter)
Bitcoin News

Bitcoin Has Spawned 436 Altcoin Derivatives Since Inception

Bitcoin (Courtesy: Twitter)
Bitcoin (Courtesy: Twitter)

Since its launch in 2009, Bitcoin has now generated more than 400 altcoin offshoots. Data from MapOfCoins shows that the world’s first cryptocurrency has now had 436 forks since going live over 11 years ago.

Despite its many derivatives, Bitcoin remains the undisputed market champion, controlling anything from 58 to 79 percent of the cryptocurrency market at any given time.

In the intervening 11 years, there have been sustained bear markets and contentious hard forks, but thus far there has only been one competitor that has even briefly threatened to give Bitcoin a run for its money.

Two years after Bitcoin went live, a hard fork called Namecoin hit the scene, marking the first of a flurry of hard forks.

Unlike Bitcoin, which existed to decentralize money, Namecoin existed primarily to decentralize identity management. Despite the divergence in purpose and use case, the relative success of Namecoin marked the first of Bitcoin’s numerous metaphorical children and grandchildren.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.