Bitcoin forks: Why are there so many currencies separated from Bitcoins

[tyrim88]

This is certainly because of the open source nature of the technology behind Bitcoin. It allows competition, which maybe good or bad in the long run.

For consumers, it means coins with better features can be made to suit their wants.

The aspect of the leverage that tecchnology in terms of setting up your own cryptocurency is one factor,and another lots of investors would love to have a situation where they will transact with low gas fee.

 

[Gandiba]

Because that is what we actually need to make sure that we do not put all our hope in particular crypto currencies that may not actually be worth it in the end.

It is good to have different crypto currencies.

 

[Smiles20]

You can create another separate cryptocurrency or create another chain without it having to be a fork of another. Blockchain technology is still early and a lot of experiments are going on.

 

[Agbalagbaa]

Because that is what we actually need to make sure that we do not put all our hope in particular crypto currencies that may not actually be worth it in the end.

It is good to have different crypto currencies.

Diversification helps one to stay afloat even in challenges. It could make huge amounts of money despite incurring losses in some of your portfolio if you are skilled.

 

[Good-Person]

You can create another separate cryptocurrency or create another chain without it having to be a fork of another. Blockchain technology is still early and a lot of experiments are going on.

Indeed, there are many companies and cryptocurrency projects that have created a separate kind of coin whose name resembles bitcoin and other kinds of coins.