bitcoin has a lot competitions: those from altcoins, though now they are all small, and those using blockchain technologies..
Where is the competition with alt coins? Any altcoin which is yet really competing with
BTC? Sure some use alternate algorithms and some of them are really promising. But I still don't see a real competition.
//alex
You will see it after a lot of the financial institutions are using hyperledger, soon. A lot of the thing with getting sync with hyper and totally the serious competitor for bitcoin has come. Just a problem of times.
Altcoin like a small fruit below of the big tree.
As quoted universities and financial institutions were focusing much over the digital currency network. Recently an university organised competition for Blockchain development. So, surely more and more altcoins will exist to compete with bitcoin, but to get the standard similar to bitcoin is possible for very few as the same way that we experience now.