At first glance, especially to a digital currency neophyte, OpenCoin might not look that different from Bitcoin. Look beyond the superficial similarities, though, and the two ventures in virtual money couldn’t be less alike.
That’s especially true in terms of the people – and money – behind the currencies.
Bitcoin, after all, was birthed in a way by a cipher … a man (or entity) who isn’t there. (Theories abound as to who or what Satoshi Nakamoto is or was.)
Nor did Bitcoin enjoy the advantages of big names and big money as it grew: its popularity grew through its appeal to a certain (often libertarian) segment of the online geek community, expanding – if you will – organically through widening appreciation of its cryptographic ingenuity.
OpenCoin, on the other hand, has the backing of some leading luminaries of the digital.
CEO Chris Larsen previously co-founded and led the online lender E-LOAN and the P2P marketplace Prosper. And CTO Jed McCaleb created both eDonkey (the largest P2P file sharing network in 2000) and Mt. Gox, which is now the leading Bitcoin exchange.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.