Creditbit to Become Ethereum Token in Bid to Beat Bitcoin at Speed

Despite Bitcoin’s continuing strength, altcoin developers are still putting their case for alternatives this year - some are more compelling than others.

A group of Slovenian developers is focusing on Ethereum’s Smart Contract platform, to produce not just another token, but a more complex system that shows what can be done with the technology.

Considering themselves the next generation of altcoin developers, they are focusing on Creditbit, an extant hybrid proof-of-work or proof-of-stake cryptocurrency originally released with the aim of providing up to ten times faster transactions than the Bitcoin Blockchain.

Hybrid coins, smart contracts

Initially developed in 2015, Creditbit went through a quiet period before resurfacing with the new development team. The future of Creditbit 2.0, as it is now known appears ambitious.

“It will be implemented as an Ethereum token smart contract on Ethereum’s platform,” a lead developer wrote this month. “The decision came to be because Creditbit wants to be more than just another cryptocurrency. It is planned to have some custom, decentralized functionalities, which befits the new era of Blockchain technology.”

These “custom” options include several spin-off projects beyond a simple tradable token as the original Credit Bitcoin is still freely tradable on several exchanges.

According to develo