A very large majority of these altcoins are essentially scams. There is a cottage industry that takes a coin, changes something minor (name, logo), and releases it with great fanfare, enticing people to buy it, allowing the forker to unload their typically worthless coins.
As Нонн Болдырев said, there is a small list of worthwhile coins. I'd leave Ripple out, since it's not a cryptocurrency per se, but otherwise his list seems sensible.
Here's my very short list of interesting currencies:
- Monero: adding privacy and fungibility (the most prominent of Cryptonote coins)
- Ethereum: smart contracts, ability to create contracts on the blockchain, automatically redeemed when predefined conditions are met
- Cryponite: mini blockchain, solving the scaling problem (though it's not being worked on anymore)
I can't comment on the others on Нонн Болдырев 's list due to not knowing enough about them.
Searching out unique codebases is a great approach to prioritizing alts. In addition to the list above, consider Vcash and the newly released Steem. – brandondoge – 2016-06-03T14:46:17.297
3@brandondoge Vcash isn't a new codebase, it refactored the Bitcoin code base (which breaks copyright and is illegal...) – Нонн Болдырев – 2016-06-03T15:42:02.860
Source to the claim of illegality? Poloniex and Bittrex are typically very careful with compliance, so I find it hard to believe that Vcash is in direct violation of copyright law. – brandondoge – 2016-06-03T16:11:07.410
4https://bitcointalk.org/index.php?topic=920344.0 (gmaxwell is a bitcoin core developer). Bitcoin core is MIT licensed, and apparently (https://bitcointalk.org/index.php?topic=920344.msg10125574#msg10125574) copyright notices were stripped, which is directly against the licence, and therefore the copying of the code is not permitted by copyright law, as they do not have a licence for it. – user36303 – 2016-06-04T07:45:51.263