Sometimes, altcoins don’t get it right the first time. Trading dies off, the community goes quiet, there’s no action in the GitHub repository, those sorts of things. This can be because of many reasons, including that the technology available at the time simply wasn’t adequate to meet the developers’ needs.
Such is the case with BlueCoin (BLU). (Whitepaper)
It has seen a revival in trading of late and values have risen steadily since December 2017. (I’m merely pointing this out – please don’t construe this as investment advice. It isn’t.)
So why the sudden interest? What has ignited the developers and communities once again?
There are a few reasons that this is happening, perhaps the greatest of which is BlueCoin’s adoption of the Bitcoin Core 0.13.0 codebase, which has multiple advantages over the previous codebase BlueCoin was using.
- BlueCoin 2.0 has activated Segregated Witness (SegWit) that improves transaction speeds dramatically. (It’s a well-known fact that the BitCoin blockchain is sluggish at best).
- By utilizing sidechains and Layer 2 extensions, BlueCoin 2.0 offers virtually unlimited transaction scalability.
- Using the Scrypt algorithm, BlueCoin 2.0 offers a hybrid AuxPoW/PoSV (Auxiliary-Proof-of-Work/Proof-of-Stake-Velocity) consensus that protects the network from 51% attacks. It also offers merge-mining with Litecoin and any other AuxPoW Scrypt algorithm coins.
- BlueCoin offers cold-staking, so end-users can store their coins offline and still mint new coins, which is significantly safer than holding coins in online wallets.
- The new inflation algorithm has been adjusted to support a more stable level of growth.
- Bluetooth transactions can be made P2P without the need for a stable internet connection.
Sometimes, taking a step back from your original vision and reassessing it objectively can only be a good thing. With the number of changes that have been made in the transition from BlueCoin to BlueCoin 2.0, it certainly seems to have been in this case.
TL;DR I think we should all be giving the BlueCoin 2.0 team a standing ovation for its commitment and talent in bringing BlueCoin back to the fore.