Do you ever wonder why there are many altcoins today? I was just thinking that since the main objective of cryptocurrency is to ease payment. Why would people create so much altcoins when people can only use bitcoin as a payment gateway? Are the founders of every altcoins creating their token for money?
Most altcoins are tokens that serve some particular specific business. Such tokens have limited circulation and scope of use. Anyone can create new tokens, so no one can stop their development, including their number. We do not need to know all the altcoins, it is enough to select only a few of them, which, in our opinion, have good prospects for growth. A large number of cryptocurrencies are needed as this creates conditions for normal competition.