I am writing an introducing paper to cryptocurrency. I have a doubt in my mind.
"What are the basic features of 2nd gen cryptocoins compared to Bitcoin?"
or in another words:
"What are the necessary ingredients of 2nd gen crytpocoin? What make them be 2nd-gen rather than 1st-gen?"
In your mind, how many 2nd gen coins there are so far? Which ones?
2nd gen - coin solving the problems of the Bitcoins and it early forks:
- truly anonymous (in Bitcoin everyone can track your address)
- faster than Bitcoin (<<10 min confirmation time)
- low mining threshold (current Bitcoin is area for big ASIC-miners. Real 2nd gen have to be ASIC-resistance)
- PoW like a system have their own disadvantages like 51% attack, ecological problems (more Mhash => more Watts) and etc
There are main criteria of 2gen coin for me.
There are a lot of coins implements some of that - NEM, NXT, Monero, Bytecoin(BCN), Darkcoin etc.
P.S. And 2gen is the marketing ploy, of course. Each ScamCoin is perspective, innovative, 2nd gen and truly anonymous.