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Johns Hopkins University Designing Bitcoin Alternative


Johns Hopkins University Designing Bitcoin Alternative

A team of researchers led by Mathew Green, John Hopkins assistant professor of computer science, are trying to build a digital currency for completely private exchanges. The name of the new cryptocurrency is Zerocoin.

The coin is designed to be untraceable and to compete with other virtual coins like Bitcoin. These cryptocurrencies are slowly but surely being considered as alternatives to regular financial tools but also seen as money laundering facilitators.

Mathew Green says there exists now a legitimate need for completely private financial exchanges. And if these virtual currencies are to exist, they might as well provide a high level of privacy and security.