A common question we get asked when we explain what Parity is is if it is like Bitcoin. Bitcoin is the most well known crypto currency and the first to gain any traction. Parity tries to solve a different problem to Bitcoin and therefore is quite different.
Bitcoin was developed by a pseudonymous person or group called Satoshi Nakamoto in 2008 to 2009. It borrowed ideas from previous projects such as Nick Szabo’s Bit Gold and Adam Back’s Hashcash as well proposing novel solutions to the problem of decentralised digital money.
The following two lists highlight some prominent features and differences of each currency.
Even though Parity is not like Bitcoin, could Parity still benefit from using blockchain or some other distributed ledger technology (DLT)?
We are open to being convinced otherwise but our current position is not. We will write a follow up blog post explaining our position.
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