The Roads to Innovation in Cryptocurrencies


altcoins Once upon a time there was Bitcoin and nothing else. History was being written by Satoshi and a few illuminated minds that posted the most interesting ideas in the Bitcointalk forums and IRC channels. Almost every cryptocurrency idea I’ve heard of had a seed in some of these heated online discussions. During 2009 improving every part of Bitcoin seemed to at the reach of the hand: changing the scripting system, the proof-of-work function, the block format and more. Then the conservative era begun: Bitcoin value had risen considerably and much more money was at stake. So there was no room for destabilizing changes anymore. During 2010 ideas were still discussed, but not implemented. But as powerful ideas cannot be contained so during 2011 alt-coins came into existence. Apart from Namecoin , which was something different than a mere cryptocurrency, the first alt-coin code changes were all minor; only the economic…

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