Topic: Were there any new source coins before NXT? (Read 1598 times)

The evolutionary links between Bitcoin and scrypt based currencies like Dogecoin are actually quite complex. A simplified explanation is this: Most scrypt coins are based on Litecoin which was based directly on Bitcoin in order to eliminate bugs introduced by other developers and to benefit from the latest code updates which coblee would then merge into LTC. However, the scrypt PoW part was derived from Fairbrix which was an identical copy of Tenebrix but without the premine. Tenebrix (and thus also Fairbrix) was based on Multicoin which was itself based on Bitcoin. Multicoin was buggy and ended up being a failure so coblee's decision to base LTC on BTC was a very good one.


I guess if you really wanted to be really technical then the direct ancestors of Bitcoin would also probably count. Out of these, Hal Finney's RPOWs was the only one that was actually implemented in software though.

Also, it's probably debateable whether or not the centralized currencies in your examples are actually coins since they are/were probably nothing more than entries in a centralized database.

there where a few well before Bitcoin  Digicash, e-gold.....etc etc

NXT was first 2nd gen as they called it. I presume SHA256 and SCRYPT coins are quite different so must have had new source at some point.

Peercoin is based on Bitcoin although it incorporates a substantial amount of new code since it uses an all-new proof-of-stake algorithm. Think of it as being similar to how English looks like today. There are lots of French and Latin words but the basic structure is still Germanic.

Interestingly, I once read from somewhere that NXT basically lifted the whole PoS code from Peercoin at one point during its development although it's probably not true anymore. Can't seem to find the actual quote though...


Both coins have diverged in the months/years preceding their creation but Monero still stays pretty close to the reference implementation (as does Bytecoin).


Anonymous/pseudyonymous devs are pretty common in the altcoin world. Bitcoin, Namecoin, NXT, NEM, Auroracoin, Peercoin, and Primecoin are examples of coins that once had or continue to have anonymous/pseudonymous devs. Monero has a development team of 7 people and 5 of these have chosen to remain pseudonymous. Its founder was also pseudonymous too:


Yeah, it's been in development for a very long time but there are only closed betas to show for it. I've heard that the sole developer is still working on it so the project isn't dead. It's a promising piece of tech if it ever does get released but I think most people have lost interest by now.

We have. J1mb0 is one of the original Bytecoin shill accounts that was used to try to sell their fraudulent 82% premine, including continued bashing of Monero despite the community having decided long ago which one is legitimate. He's still at it.

Also Bytecoin isn't really that old. The best available verifiable evidence is that it was developed in mid-late 2013, around the same time as Nxt.

Still in beta and under development, so I don't know if it counts here. BTW the development started roughly in the same time as NXT, maybe a bit earlier.

Emunie?

Did the original BCN dev make much money out of his premine?

I thought I read that they had done a large amount of refactoring the code and such. Plus they hired a bunch of independent researchers/cryptographers/mathematicians and such which is pretty good.

Monero say they forked Bytecoin and don't have anything to do with Cryptonote consortium - I can't see anything earth shattering that Monero has added to Cryptonote. Apart from self-moderated hype, pump, dump repeat scam on BCT forum.

https://github.com/ripple/rippled/commit/a8e8613475f178f779fd2800c38175615c118a13
Ripple: First commit in October 2011, current blockchain started in December 2012.

It is about as decentralized as Bitcoin, however the native currency is centrally issued. This has nothing to do with the underlying network layer.

isn't ripple just a rip-off of sharecoin? if it is inflationary instead of deflationary is it a "new source coin" like altcoin. there probably is a lot of old alt coins which qualify. i have no idea what freicoin or others where all about.
Swiftcoin http://www.firstnationalbnak.com/faq
Or Beertokens

Peercoin counts I think. Not sure if the POW side was new but the POS using coinage was ground breaking at the time.

Yeah, Bytecoin was supposed to have been released in 2012 but it didn't really become well known until 2014. I worded my original post to emphasize that it became popular in 2014 as that was when it literally popped out of nowhere. Nevertheless, I don't think it fully counts because of this.


The Cryptonote Bytecoin (BCN) was supposed to have started in 2012 but it only became well known in 2014 when someone who was looking for the other Bytecoin (BTE) accidentally discovered it. The dates are not easy to verify and there is speculation that the coin is a more recent creation though.

There was an old alt called Bytecoin that was started by Maria a few years ago but it has nothing to do with the Bytecoin that we know today which was started in 2014.

The original Bytecoin was just a fork of Bitcoin with nothing special going for it.

I think Bytecoin is pretty damn old and one of the first non Bitcoin fork coins. Too bad it was a premined scam, but luckly Monero saved the project and improved it.

I would leave Ripple off the list, since it is not a decentralized system.

I'm sure most people here know by now that NXT is a new source coin that has no relation to Bitcoin code-wise.

Since NXT, a few other new source coins have popped up including NEM, Qora, Node, Crypti, the Cryptonote coins, and various others. It seems that new code coins became popular in 2014 but very few existed before then. My question is; were there any new source coins before NXT's launch in late 2013?

I've seen references to a coin called Timekoin that was coded in PHP that ultimately went nowhere. I guess Ripple might also qualify.