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.
There are big problems with cryptocurrencies that cannot be ignored. Quantum computer are now in operation and the Blockchain is not quantum safe. This means that Bitcoin is vulnerable and can be destroyed. Bitcoin transaction are taking over 40 minutes to complete. The C3 (CloudCoin Consortium) predicts this time will increase to 2 days within a few years as more accounts and more transactions are completed using Bitcoin. The C3 also predicts that the Blockchain will soon be too large to fit on most hard drives and to move around the Internet. CloudCoin has none of these problems and will go into circulation this week.
The inventor of RAIDA – a tenured computer science instructor in northern California (Sean H. Worthington)- noticed that monetary systems are information system and applied the rules of data integrity used in databases to create a philosophical model for a perfect currency. The result was the RAIDA, CloudCoin and the C3.
The RAIDA is the first ever distributed, fault-tolerant and self-healing authentication system. It is spread out over 20 different countries in different jurisdictions and like the fault-tolerant TCP/IP protocol that makes the Internet indestructible, the RAIDA is a permanent datastore that can have large parts wiped out and still provide authentication. Understanding the global significance of the discovery, the RAIDA technology has been given free to the CloudCoin Consortium, a new global organization dedicated to providing theoretically “perfect” money. The C3 is made up of 20 independent Cloud providers in 20 different countries like Russia, Switzerland, USA, UK, Taiwan and India. The C3 has implemented the RAIDA and will now begin its work.
For More Information: Marketing Website: http://www.CloudCoinConsortium.com
Consortium Website: http://www.CloudCoinConsortium.org Skype id of Principle: Sean.Worthington
Internal Marketing: http://CloudCoin.Global Phone: (530) 591-7028
eMail: [email protected]
Contact information for interviewable consortium members available on request.
Here’s a recent video from CloudCoin Consortium on The Physical Integrity of a Monetary System Where Money is Data. Subscribe to our Youtube Channel here!