[2015-04-15] MIT Tech Review: A New Competitor for Bitcoin

[pitham1]

A New Competitor for Bitcoin Aims to Be Faster and Safer

http://www.technologyreview.com/news/536641/a-new-competitor-for-bitcoin-aims-to-be-faster-and-safer/

The total value of the digital currency Bitcoin is now approximately $3.4 billion, and many companies and investors are working to prove that the technology can make financial services cheaper and more useful.

But Stanford professor David Mazières thinks he has a faster, more flexible, and more secure alternative. If Mazières is correct, his technology could make digital payments and other transactions cheaper, safer, and easier—particularly across borders. He released the design for his system in a white paper last Wednesday

Mazières’s new cryptocurrency protocol, called SCP, is being adopted by a nonprofit called Stellar to replace a Bitcoin-inspired system meant to make financial services cheaper and more widely accessible in the developing world. Stellar’s original system was modeled on one developed at the startup Ripple Labs, which is using it to help banks and other financial organizations move money faster

[Alley]

Oh cool another leocoin...

[cbeast]

If it really is better, then Bitcoin will assimilate it. Resistance is futile.

[johnyj]

Ripple, though invented before bitcoin, after so many years of marketing, still get no traction. Either its design is flawed, or too complicated to be understood by average human  

[bryant.coleman]

Ripple, though invented before bitcoin, after so many years of marketing, still get no traction. Either its design is flawed, or too complicated to be understood by average human  

For shitcoins to have any chance of widespread adoption, a new and fatal flaw should be discovered within Bitcoin. No one will adopt a new cryptocurrency, when one is already established. So unless they can destroy Bitcoin, there is no chance.