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Alt-coin corrections

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Andreas M. Antonopoulos 2015-02-23 19:46:09 -05:00
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@ -13,13 +13,11 @@ With new coins introduced every day, it would be impossible not to miss some imp
((("chains, alternative")))((("currencies, alternative")))Bitcoin is an open source project, and its code has been used as the basis for many other software projects. The most common form of software spawned from bitcoin's source code are alternative decentralized currencies, or _alt coins_, which use the same basic building blocks to implement digital currencies. ((("chains, alternative")))((("currencies, alternative")))Bitcoin is an open source project, and its code has been used as the basis for many other software projects. The most common form of software spawned from bitcoin's source code are alternative decentralized currencies, or _alt coins_, which use the same basic building blocks to implement digital currencies.
There are a number of protocol layers implemented on top of bitcoin's blockchain. These((("blockchain apps")))((("meta chains")))((("meta coin platforms"))) _meta coins_, _meta chains_, or _blockchain apps_ use the blockchain as an application platform or extend the bitcoin protocol by adding protocol layers. Examples include Colored Coins, Mastercoin, and Counterparty. There are a number of protocol layers implemented on top of bitcoin's blockchain. These((("blockchain apps")))((("meta chains")))((("meta coin platforms"))) _meta coins_, _meta chains_, or _blockchain apps_ use the blockchain as an application platform or extend the bitcoin protocol by adding protocol layers. Examples include Colored Coins, Mastercoin, NXT and Counterparty.
In the next section we will examine a few notable alt coins, such as Litecoin, Dogecoin, Freicoin, Primecoin, Peercoin, Darkcoin, and Zerocoin. These alt coins are notable for historical reasons or because they are good examples for a specific type of alt coin innovation, not because they are the most valuable or "best" alt coins. In the next section we will examine a few notable alt coins, such as Litecoin, Dogecoin, Freicoin, Primecoin, Peercoin, Darkcoin, and Zerocoin. These alt coins are notable for historical reasons or because they are good examples for a specific type of alt coin innovation, not because they are the most valuable or "best" alt coins.
In addition to the alt coins, there are also a number of alternative blockchain implementations that are not really "coins," which I call((("alt chains"))) _alt chains_. These alt chains implement a consensus algorithm and distributed ledger as a platform for contracts, name registration, or other applications. Alt chains use the same basic building blocks and sometimes also use a currency or token as a payment mechanism, but their primary purpose is not currency. We will look at Namecoin, Ethereum, and NXT as examples of alt chains. In addition to the alt coins, there are also a number of alternative blockchain implementations that are not really "coins," which I call((("alt chains"))) _alt chains_. These alt chains implement a consensus algorithm and distributed ledger as a platform for contracts, name registration, or other applications. Alt chains use the same basic building blocks and sometimes also use a currency or token as a payment mechanism, but their primary purpose is not currency. We will look at Namecoin, Bitmessage and Ethereum, as examples of alt chains.
In addition to the proof-of-work consensus mechanism used in bitcoin, alternatives include experimental protocols based on proof of resource and proof of publishing. We will examine Maidsafe and Twister as examples of these consensus mechanisms.
Finally, there are a number of bitcoin contenders that offer digital currency or digital payment networks, but without using a decentralized ledger or consensus mechanism based on proof of work, such as Ripple and others. These non–blockchain technologies are outside the scope of this book and will not be covered in this chapter. Finally, there are a number of bitcoin contenders that offer digital currency or digital payment networks, but without using a decentralized ledger or consensus mechanism based on proof of work, such as Ripple and others. These non–blockchain technologies are outside the scope of this book and will not be covered in this chapter.