What is the one thing we have noticed about most altcoins? The need for developers is a demanding and never ending. Fortunately, ViaCoin has been showing an incredible ability of hiring developers who are regarded very highly in the cryptocurrency community.
ViaCoin recently hired Peter Todd, a bitcoin core developer, and creator TreeChains, and Stealth Addresses. Peter is quite an influence in the cryptocurrency world as he is an advisor at Coinkite as well. It should be mentioned that he used to work closely with MasterCoin, but has announced that he is no longer involved with that coin.
Peter’s role is Chief Scientist and Advisor to ViaCoin, the ClearingHouse projects, and he will concentrate, mainly, on developing TreeChains, which could potentially decentralize mining, and enable sidechains. Essentially, the idea of creating a non-linear blockchain is in sight.
A quote by Peter in his paper regarding TreeChains:
“So what's the underlying issue there? The chains are too independent. Even with merge-mining there's no real link between one chain and another with regard to the order of transactions. Secondly merge-mining suffers from 51% attacks if the chain being merge-mined doesn't have a majority of total hashing power... which kinda defeats the point if we're worried about miner scalability.”
The aim seems to be improve upon the blockchain to achieve a higher level of security, and decentralization. Yet, ViaCoin is the first coin to launch blokchain 2.0 on an altchain. Meanwhile, all other attempts at this have worked by using the Bitcoin blockchain.
- Peter Todd
ViaCoin’s blockchain is not designed just to store viacoins, but to enable protocols to build applications upon the blockchain. ViaCoin is trying its best to bring never before seen features, and we are yet to see if they can fulfill that vision. However, they are doing some great things in order to achieve that goal.