The cryptocurrency market was worth more than $1.6 trillion by the end of the July 2021. And bitcoin controls more than 47 percent of that market, according to Tradingview.com, down from more than 70 percent at the start of 2021. Altcoins, or alternatives to bitcoin, have surged in number and value since 2018. Crypto networks with advanced technologies such as Ethereum, Polygon and Uniswap have captured more and more of the crypto market. And there's also stablecoins, utility coins and meme currencies like Dogecoin. Here's how altcoins work, and why they're becoming a larger and larger force in the crypto market.
"Everybody's trying to do something that hasn't been done before," Mati Greenspan, Quantum Economics founder and CEO, told CNBC in an interview.
Altcoins fall into several different categories. There are technology platforms such as ethereum, the blockchain that ether is built on and that provides the underpinnings for the growing
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