Bitcoin, one of the first and the most popular cryptocurrencies, currently has no direct competitor. This is because it is way ahead of all others in terms of value. However, over the last few years, this market has witnessed an increasing number of cryptocurrencies, and perhaps many more are in the offing.
With such an intense competition among players, technical and functional innovation in terms of increased security, and enhanced features of the cryptocurrency platforms coming out, it is essential that the old and the initial ones need to be upgraded; else, they may become obsolete. And that is the rule of nature.
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