If you’re not sure you understand Bitcoin, you just fell another step behind: Decred, a digital currency created by former Bitcoin developers in Chicago, is the latest alternative coin seeking acceptance among cryptocurrency enthusiasts.
Company 0, the Chicago-based maker of Bitcoin tools and secure communications software, launched Decred widely Monday, CEO Jake Yocom-Piatt said.
By midday Tuesday, Decred was trading on at least one exchange for less than 1 percent of the value of Bitcoin, which was worth about $373 at the time — giving the new coin a value of $1.27.
“I knew there would be a market for this because there have been several attempts at creating the next major cryptocurrency,” Yocom-Piatt said.
Beyond serving as a currency storage and transfer system, Decred is built as a system that can’t progress without input from the community that uses it, something Yocom-Piatt says is a key differentiator from Bitcoin. He sees a day when mainstream merchants and payment processors accept Decred as some have Bitcoin.
Dell, Expedia and Overstock.com are among the major corporations that now take Bitcoins as payment, and processors such as Coinbase enable such transactions. Chicago-based Braintree also offers Bitcoin processing through a partnership with Coinbase. But