The Blockchain is a digital ledger in which transactions made in bitcoin or in other cryptocurrencies are recorded chronologically and publicly but not all cryptocurrencies are equal. Some are known for the high level of innovation they bring to the community and others are referred to as “altcoins” because they produce no innovation - in a nutshell, they are just clones of bitcoin.
However, some cryptocurrencies have emerged and even though they have borrowed some Bitcoin concepts they still bring innovation to the community. New mechanisms and new platforms have emerged like “proof-of-stake” and the increasingly popular Ethereum, that works with decentralized computing platforms and “smart contracts” while offering the possibility to multiply functionality uses and enabling non- monetary uses. We can classify cryptocurrencies and blockchain innovations into two categories:
• New (public) blockchain systems that feature their own blockchain (Ethereum and Peercoin)
• D’Apps/others that exist on additional layers built on top of existing blockchain systems (Counterparty,Augur).