What is an altcoin?

Altcoins are generally defined as all cryptocurrencies other than Bitcoin (BTC). However, some people consider altcoins to be all cryptocurrencies other than Bitcoin and Ethereum (ETH) because most cryptocurrencies fork from one of the two. Some alternative currencies use different consensus mechanisms to validate transactions and open new blocks, or attempt to distinguish themselves from Bitcoin and Ethereum by providing new or additional capabilities or purposes. An altcoin is an alternative digital currency to Bitcoin.

The word Altcoin is an acronym for alternative and currency, to form altcoin. It actually refers to a group of cryptocurrencies, ultimately to all cryptocurrencies other than Bitcoin. Altcoins are alternative cryptocurrencies to Bitcoin, the first and oldest cryptocurrency.

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