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Safer, Faster Bitcoin on the Horizon? Stanford Professor Says Yes

Adam Davis - April 27, 2015

It seems like every day we are introduced to another dozen cryptocurrencies centered around everything from marijuana to helping impoverished people to random objects like clams. That’s why when someone claims to have created ‘the new Bitcoin’ it’s a bit tough to get excited about the proposition. However, Stanford Professor David Mazières wants you to pay attention.

The new program is called SCP and according to Mazières it is “a faster, more flexible and more secure alternative” to Bitcoin.

It’s certainly no secret that Bitcoin isn’t the most secure of currencies, and many companies handling it have experienced security breaches/scares/hacks in recent months. A newer and safer Bitcoin was bound to pop up sooner or later, and it is definitely comforting to see it arriving as the brainchild of an Ivy League professor.

It shouldn’t be surprising to anyone that newer coins are emerging every day that are meant to supplant Bitcoin as the top cryptocurrency. The society that has cultivated the idea of decentralized currency is the same one that will not be satisfied with one, ten, or a hundred coins – even as Bitcoin continues to move toward the mainstream. To many, Bitcoin is the second coming, but Mazières  is trying to make a real difference with SCP.

Just take what Prof. Mazières said about his new coin:

“Bitcoin is good, but we wanted to start from scratch and address some of these additional properties.” Bitcoin is good.  To refer to the coin as good, means that the Professor is either extremely bold, or onto something big.

And don’t think that the story of SCP is something we’ve seen before. The plans for the new coin include faster transaction time, stronger cryptography and a heightened level of trust in the transaction chain. It sure sounds like a good place to start.

Time will tell whether this latest coin will actually make an impact in the space or fail to grab a share of the cryptocurrency stake. For now, at least we can enjoy the fact that this isn’t another cannabis coin or tittiecoin, but rather something meant to make a substantial impact on the cryptocurrency space.

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