Hello everyone,
I would like to start a healthy discussion of what distinguishes a First Generation Cryptocurrency from a Second Generation Cryptocurrency.
Sample list of 1st Gen:
- Bitcoin
- Litecoin
- Peercoin
- Namecoin
Sample list of 2nd Gen:
- Nxt
- eMunie
- Bitshares
- Mastercoin
I think the distinction should include some of the following:
Does the 2nd Gen currency resolve problems with 1st Gen currencies?
Does the 2nd Gen currency come with additional functionality "built-in"? (Especially functionality which was previously tacked on to 1st Gen currencies as an afterthought?)
Does the 2nd Gen currency have greater potential to survive long-term than the 1st Gen currencies?
Does the 2nd Gen currency have inherent flexibility and extensibility such that it can compete with future growth of the cryptocurrency space (e.g. that it won't be trivially passed out by a hypothetical 3rd Gen currency)?
Another question. Are we agreed that Nxt is a 2nd Gen currency. I think it is.
Discuss.
