The name Altcoin is a short term for 'alternative Bitcoin'. This generic name covers all other coins.

More than half of the total trading in cryptocurrencies is in Bitcoins, the other part thus in these Altcoins. These coins came on the market after the development of the Bitcoin. There are many thousands of Altcoins and these differ quite in value.

Altcoins differ from each other in, for example, transaction speed, algorithms and the number of coins in circulation. However, the main difference lies in the application behind it. It is the story (whitepaper) behind the purpose of using the currency such as: Drafting smart contracts (smart contracts), identification, making payments or storing information securely. The closer the use application gets to practical applications, or at least the belief in them, the more popular they become and the more they are dealt with. An example is Chainlink. The integration of the usage application of this Altcoin into applications of all kinds of well-known names (Intel, Swipe, Hyperledger) resulted in a huge increase in value in 2019 (1900%) and also in early 2020 it was one of the major increases within the Altcoins.