The Altcoin is short for alternative coin that is all cryptocurrencies except for Bitcoin. Altcoins are different from Bitcoin in economic model and coin-distribution method that are given away to all citizens of a country.
Reference Definition by Investopedia: Altcoins are the alternative cryptocurrencies launched after the success of Bitcoin. Generally, they project themselves as better substitutes to Bitcoin. The success of Bitcoin as the first peer-to-peer digital currency paved the way for many to follow. Many altcoins are trying to target any perceived limitations that Bitcoin has and come up with newer versions with competitive advantages. There is a great variety of altcoins.
