Altcoins is a word combination from the two words ‘Alternative and Coins’ implying that they are alternative cryptocurrencies especially launched after bitcoin gain value and became popular. Most of the altcoins available on the market try to provide a substitute to bitcoin. Generally, the term altcoin means all the other hundreds of cryptocurrencies that are not bitcoin. Many of the Altcoins copies the same design protocol that was used in building bitcoin. Some of the most renown altcoins on the market include Litecoin, Dogecoin, Ripple and Ethereum. Altcoins are viewed as competitors to the first successful cryptocurrency Bitcoin.