Altcoin

Part of speech: noun

Definitions

1. A cryptocurrency that serves as an alternative to Bitcoin while also being categorized as a digital asset on a blockchain network
2. A digital currency created on a blockchain that is not Bitcoin, representing a different form of cryptocurrency investment
3. A type of digital currency that operates on a blockchain as an alternative to Bitcoin

Etymology: The word "altcoin" is a clipping-style blend built from two pieces: "alt-", short for "alternative," and "coin," meaning a unit of currency. The first part traces back through Latin "alternus," meaning "one after another" or "every other," which in turn comes from "alter," "the other of two." That Latin root gave English "alternative," a word that originally signalled a choice between exactly two options, and the abbreviated form "alt-" has since become a productive prefix for anything positioned as a substitute for something established. The "coin" half has a more physical history. It descends through Old French "coin," meaning a corner or wedge, from Latin "cuneus," "wedge." Early coins were struck from metal blanks pressed between a die and an anvil-like punch, and the wedge sense of the word reflects that tool. English picked up the currency meaning in Middle English, so when people combined "alt-" with "coin," they were literally naming a rival to the standard coin.

Synonyms: cryptocurrency, digital currency, token

Antonyms: fiat currency