We also stumbled upon a very large technical gap with all 2nd generation coins that needed to be addressed.  Let's say 2nd generation coins are coins that have colored coin capability (i.e. Nxt, Mastercoin, Counterparty) and exchange capability.  There is one area that they are overlooking that is fundamental to Bitcoin, so we decided to focus in this area too.... so you might say this is a 3rd generation coin.