It was a normal Monday morning. Like any random morning before work, I was browsing around to keep up with new developments. After watching some videos about the idea of a Universal Basic Income, my mind drifted to Bitcoin. How is its price index doing?
You should know that I've always been a huge supporter of decentralised systems. I've been meaning to invest in Bitcoin, but oddly enough I never jumped into the hype. Partly because of the chaos and the messiness around the whole project, partly because I didn't trust the media hype.
After some clicking around I realised that Bitcoin is doing well. Extremely well. However, an
article by the New Scientist made me aware of some fundamental flaws that Bitcoin faces:
- Large amounts of Bitcoins are owned by very few people.
- Alliances of mining pools may try to manipulate the Bitcoin ecosystem.
- There is a lack of safety: hacks of online wallets pose a serious threat.
It made me wonder:
is there a cryptocurrency out there that addresses these issues? Why did nobody come up with a similar currency that lacks these monopolistic and chaotic features?
After some more browsing I realised that such a currency IS out there. I just wasn't paying attention to the developments in this field. An interesting
cryptocoinsnews article was all I needed to discover the existence of Decred.
