BITCOIN 2.0: ONE WORLD, ONE CRYPTOCURRENCY IS ‘UNREALISTIC AND COUNTER PRODUCTIVE’
NEW YORK (InsideBitcoins) – Developers working on bitcoin 2.0 initiatives are starting to feel pressure from all sides. As they begin to splinter away from each other to focus on their own projects, they also start to compete with one another.
In a recent blog post, Ethereum developer Vitalk Buterin talked about the increasing fragmentation the cryptocurrency space sees, specifically regarding blockchain-based projects.
‘Not only is fragmentation not all that bad, but rather it’s inevitable, and arguably the only way that this space can reasonably prosper.’
‘What was earlier perhaps a more tightly-bound community centered around developing the common infrastructure of Bitcoin is now increasingly a collection of ‘silos,’ discrete projects all working on their own separate things,’ Buterin wrote. He hinted at projects like BitShares, Blockstream, Truthcoin and Maidsafe, saying that they’re all no longer working on one idea.
For example, Counterparty recently took a stab at Ethereum by replicating their smart contract system into Counterparty’s platform. But even while Counterparty competes with Ethereum, Buterin doesn’t seem to mind. In fact, he wants all bitcoin 2.0 companies to continue competing.
‘Not only is fragmentation not all that bad, but rather it’s inevitable, and arguably the only way that this space can reasonably prosper,’ Buterin wrote.
This post was published at Inside Bitcoins on Jan 5, 2015.