Altcoin

In cryptocurrency jargon, an altcoin is simply an alternative coin, as in any cryptocurrency that is not bitcoin.

The word was coined to refer to the growing numbers of cryptocurrencies in existence, many of which have been simple hard forks of the Bitcoin protocol.

Many people still refer to any cryptocurrency other than bitcoin itself as being an altcoin. However, this is gradually changing with the emergence of smart contract platforms like Ethereum that can do many things that bitcoin can’t.