A provisional patent has been granted for a new technology that will challenge Bitcoin and the underlying Blockchain technology used in cryptocurrencies. This technology, called RAIDA (Redundant Array of Independent Detection Agents), is only the second technology (the Blockchain being the first) to solve the physical integrity problem presented by digital currencies.
RAIDA is superior in everyway to the the Blockchain and a new currency – CloudCoin – has been created. CloudCoin transacts in milliseconds (Bitcoin in 40 minutes), CloudCoin is 100% anonymous (Bitcoin is pseudonymous) CloudCoin does not require encryption (Bitcoin requires massive computational resources, storage space and electricity). CloudCoin is the first currency in human history that cannot be counterfeited or lost. Bitcoins “mining” is actually counterfeiting used to support infrastructure. CloudCoin is self-funded.