Altcoin is a contraction of the expression “alternative coin”. This term refers to all virtual currencies other than Bitcoin.
What is an Altcoin?
Altcoin is a contraction of the expression “alternative corner”. This name designates all Cryptocurrencies other than Bitcoin. An altcoin is an alternative to bitcoin, a cryptocurrency that was created in 2008 to offer a decentralized alternative to the traditional financial system. As Cryptocurrencies, altcoins (neo, ripple, monero, ethereum, dash, litecoin…), are digital assets (non-trustworthy currencies) based on blockchain technology. Altcoins integrate other functionalities and other validation protocols than bitcoin. The litecoin (a modified version of bitcoin) aims to offer lower transaction costs and shorter transaction times compared to those of its illustrious predecessor. Other altcoins, like ethereum, are now at the heart of real ecosystems, enabling smart contracts to be signed or fundraising to be organized. Potentially, the number of Altcoins is infinite, and everyone can now decide to launch their own Cryptocurrency. Each altcoin has its own value and volume of exchanges. The “price” and the capitalization of the 100 most important Cryptocurrencies (i.e. Bitcoin and Altcoins) can be consulted in real-time on the Coinmarketcap site.