The term "altcoin" refers to any cryptocurrency other than Bitcoin (BTC) or sometimes Ether (ETH) because these coins are the most widely used digital currencies.
Altcoins, at first, primarily sought to address some of the weaknesses of Bitcoin, particularly the Bitcoin blockchain. As a result, many sought to enable faster transactions or require less energy to mine.
However, as the cryptocurrency sphere continued to expand, thousands of altcoins emerged. Anytime someone mints a new cryptocurrency, they're creating another altcoin. For example, if you developed a simple cryptocurrency designed to facilitate transactions only between students and professors on a specific college campus, that would also fall under the altcoin category.
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Every altcoin is a token that has value in the context of the blockchain or blockchain-based solution for which it's designed. In some ways, altcoins are similar to tokens at an amusement park:...
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