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A New Cryptocurrency From Signal Creator Moxie Marlinspike

Source: www.wired.com

Another day, another cryptocurrency. But like Bram Cohen’s Chia, this one might be one worth watching. Cohen created BitTorrent, which fixed1 many of the scalability issues of transferring large files. That suggests he might be able to do something about the scaling issues of cryptocurrency.

Conversely, Marlinspike created the Signal2 instant messaging app, which makes rock solid end to end encryption (which is hard) seem dead simple. Perhaps he can do something about cryptocurrencies’ usability issues:

“I think usability is the biggest challenge with cryptocurrency today,” says Marlinspike. “The innovations I want to see are ones that make cryptocurrency deployable in normal environments, without sacrificing the properties that distinguish cryptocurrency from existing payment mechanisms.”

MobileCoin (the cryptocurrency in question) is based on the Stellar Blockchain, which seems to be something else worth learning about.

  1. Or at least vastly improved.
  2. You may or may not have heard of Signal. You probably have heard of WhatsApp, though. Both use the Signal Protocol which was originally created by Marlinspike’s Open Whisper Systems.