BitTorrent’s inventor is known for his passion for puzzles, and more generally speaking, offering elegant solutions to complex problems through lines of code.
Cohen believes that Bitcoin is wasteful. He suggests that a cryptocurrency that pins the mining value on storage space rather than processor time will be superior.
In an interview with TorrentFreak’s Steal This Show, Cohen revealed that his interest in cryptocurrencies is not merely abstract. It will be his core focus in the near future.
“My proposal isn’t really to do something to BitCoin. It really has to be a new currency,” Cohen says. “I’m going to make a cryptocurrency company. That’s my plan.”
While the idea of a storage based cryptocurrency isn’t new, Burstcoin uses a similar concept, there is little doubt that Cohen believes he can do better. And with his status and contacts in the Bitcoin developer community, his project is likely to gain some eyeballs.
