The Second Bitcoin Whitepaper

The Second Bitcoin Whitepaper

We claim that the existing bitcoin network can be used as a protocol layer, on top of which new currency layers with new rules can be built without changing the foundation. We further claim that the new
protocol layers described in this document:

• Will fix the two biggest barriers to widespread bitcoin adoption: instability and insecurity.

• Will financially benefit the entire bitcoin user community, including those who don’t use the
new protocol layers.

• Will provide initial funds to hire developers to build software which implements the new
protocol layers, and ongoing funds to pay for maintenance of this software.

• Will richly reward early adopters of the new protocol, in proportion to how successful it is.


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