Almost every new comer has these question. This mess is because of 3 reasons:
- Cryptography
- Open market
- Fraud
They ale utilize cryptography and they their own Blockchain.
In open market, one is encouraged to invent and compete. Multiple crypto currencies are providing different solutions.
Like everything, by doing fraud, and making fake currencies, this is a time for people to make money, by essentially doing nothing and copy-cating/renaming coins.
So, at the end, do your due diligence before investing, and invest what you can lose.
Thanks!