Bitcoin remains the primary and first use case for blockchain technology, though there remain doubts as to its efficacy as not just a currency, but also as a payment rail that can reliably facilitate global transfers.

This has led to three alternative proposals, none without their issues but all envisioning a better solution which is scalable—a key concern to be addressed if widespread adoption is ever going to be plausible.

The First Alternative: A Faster and Cheaper New Cryptocurrency

A more efficient new currency which also bases itself on blockchain technology is a popular ...