Question: Why there are so many Crypto-currencies? Are they connected to Bitcoin?
Bitcoin is the first Crypto-currency created and the creation of Crypto-currency market follows after the invention of Bitcoin.
There are now countless number of Crypto-currencies created every day by developers, but none of them are connected to Bitcoin’s market itself.
Each Crypto-currency has its own value which value system is powered by the developer and the balance of supply and demand of users.
Why so many Crypto-currencies?
As you may already know, one of the Bitcoin’s unique feature is that open source.
Its protocol and software are all published openly and anyone can make a use of it.
The Crypto system may not be exactly the same, but there are many developers creating new Crypto-currencies by utilizing the idea.