After the phenomenal success of Bitcoin, cryptocurrencies have gone main stream in many countries and international territories. As everyone knows, Bitcoin is the real inspiration behind hundreds of new cryptocurrencies existing in the market since most of the cryptocurrencies have been derived from the Bitcoins codebase. For this reason, these alternate coins are also known as Alt coins. The Blockchain Technology was designed for the exchange of the world’s first crypto currency i.e. Bitcoin. It is a huge success and has grown manifolds since inception. It has not only created a space for itself in the industry, but it also has paved the way for other cryptocurrencies such as Lite coin, Doge coin, Ripple, Pree coin, Prime coin, Name coin, Quark and more.