Alternative Bitcoin Has Backers Nervous

August 24, 2015—Bitcoin was built on the sort of open-source ethos that has driven generations of geeks. But the same principles it celebrates—a decentralized network of contributors, a transparent code base—are allowing competitors to flourish.

The Bitcoin faithful aren’t so sure that’s a good thing.

Two high-profile Bitcoin developers, Gavin Andresen and Mike Hearn, released an alternative version of Bitcoin recently. In software parlance, this kind of offshoot is called a fork.

Hearn acknowledged in a blog post that not everyone is thrilled with the endeavor. “The community is divided,” he wrote. “Such a fork has never happened before.”

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