Altcoin (Alternative Coin)

An altcoin refers to any cryptocurrency that is not Bitcoin. These cryptocurrencies were introduced after Bitcoin and aim to either improve upon or provide different functionalities than Bitcoin. Many altcoins introduce technological innovations like faster transaction times, different consensus mechanisms, or enhanced privacy features. They often serve niche markets or specific use cases, ranging from smart contract platforms to privacy-focused currencies.
Despite their differences, altcoins share the common goal of decentralizing financial operations or introducing new applications for blockchain technology.