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Bitcoin Competitors Are Being Built in Ex-Google Coders' Laptops

Bloomberg business news

Why Investors Are Piling Into Bitcoin

Bitcoin’s seemingly unstoppable surge to record highs isn’t deterring competitors.

Former Silicon Valley developers are working on at least two new versions of the digital currency. Basecoin is seeking to solve bitcoin’s volatility with a team of former Google Inc. coders that are building what they hope will be a more stable version of the cryptocurrency. Cypherium has former Google, Amazon Inc. and Microsoft Corp. developers building a blockchain that aims to be able to handle an expanded workload more easily.