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Bitcoin is creating a third cryptocurrency

Mark Lennihan / AP

Just a few weeks after bitcoin announced that it was splitting into two separate entities, the initial version of bitcoin and its new "bitcoin cash," the network is adding a third version, per Motherboard.

  • Bitcoin first split in two as a result of the initial network's failure to keep up with the market's rapid transaction growth.
  • With the introduction of bitcoin cash (#2), the currency could offer a transaction capacity eight times the size of the original bitcoin, which developers hoped would ease some of the currency's current back-log issues (and so far bitcoin cash has done just that).
  • But now, a different group of bitcoin developers are urging for a third option, one that will combine the best of the two currencies; essentially a new bitcoin blockchain with its own set of rules.