Adrian Niculescu
Currently, there are over 5,000 cryptocurrencies and growing starting with the grandfather Bitcoin and none of them has succeeded in becoming a worldwide adopted currency accepted all over the place. A little more than three years ago, CloudCoin, a next-generation cloud-based digital currency has born and it is on the edge of its marketing phase which will lead to mass adoption and usability for payments in retail, e-commerce, gaming, and other industries. CloudCoin is powered by a unique technology called RAIDA with a recently published patent in the US.
CloudCoin is powered by a unique technology called RAIDA with a recently published patent in the US.
This is a good moment to look at the differences between Bitcoin and CloudCoin to understand where the future is heading and why CloudCoin is better than Bitcoin for the financial world.
Underlying technology
Bitcoin is powered by Blockchain/ cryptography which is a 10 years old technology and shared by all the cryptocurrencies while CloudCoin is powered by RAIDA, a unique and now patented technology which is 3 years young and constantly updated. Think mobile phones and how big can be the differences in one year between one technology and another.
- Speed
Spending on Bitcoins takes 20 -minutes or more to update the public ledger. CloudCoin takes milliseconds to check the authenticity (unique to RAIDA and CloudCoin). - Theft
Bitcoin and all other cryptocurrencies can be stolen and the funds are usually never recovered. CloudCoins are safe and encrypted. Theft can be stopped if the owner updates RAIDA before thief (unique to CloudCoin). - Loss
With Bitcoin and crypto, the loss of funds is permanent. With CloudCoin lost coins can be recovered (unique to CloudCoin). - Counterfeits
Bitcoin can be mined while the number of CloudCoins does not increase or decrease. CloudCoin can't be mined. - Privacy
Bitcoin is pseudo-anonymous because all transactions are registered on the public ledger while CloudCoin is 100% anonymous (unique to CloudCoin). - Time to get started
It takes up to 24 hours to download Blockchain while the software to authenticate and store CloudCoins can be downloaded and used in minutes. - Account required
Bitcoin require accounts while CloudCoins can be traded peer to peer without the need for accounts. - Public ledger
All Bitcoin transactions are recorded on a Public Ledger that is available to the entire world. With CloudCoin there is no public ledger or centralized database.
10.Hackable
Hundreds of million of dollars worth of crypto are already lost. The RAIDA system is not hackable and even if the worst happens hacked RAIDA servers can be fixed by CloudCoin owners (unique to CloudCoin). - Quantum-Safe
Bitcoin is not Quantum-Safe while CloudCoin is (unique to CloudCoin). - Storage
Special software is required for Bitcoin storage while CloudCoin can be printed on paper, memorized as pass-phrases, stored in cell phones, computers as text files or jpeg images plus offline on any storage device. Encryption is optional (unique to CloudCoin). - Infrastructure Funding
Bitcoin is funded primarily by Bitcoin miners who allow their servers to be used publicly. Anyone can be Bitcoin Miner (counterfeiter). CloudCoin authentication by RAIDA Administrators is funded with CloudCoins that have been completely lost or abandoned and recovered by the CloudCoin Consortium. RAIDA Administrators must be Certified by the CloudCoin Consortium (unique to CloudCoin). - Importable
Bitcoin cannot be imported into video games or other apps.CloudCoin is the only real currency that can be imported and exported from software including video games. Add a new dimension to your software! (unique to CloudCoin) - Fractions
Bitcoin uses insane fractions like .000002. CloudCoin uses only integer denominations (whole numbers like customary money) and and will also have fractions scaling to a user’s needs. CloudCoin comes in denominations of 1, 5, 25, 100, and 250 units. - Analogy
Like the stone money of the Island of Yap, Bitcoin uses a public accounting system that all can see. This system is not private and open to attack.
Like the stone money of the Island of Yap, Bitcoin uses a public accounting system that all can see
CloudCoin is like typical money because it forms a distributed accounting system where each person is in charge of their piece of the system’s data.
CloudCoin is like typical money because it forms a distributed accounting system where each person is in charge of their piece of the system’s data.
Conclusion While Bitcoin is the first decentralized eCurrency, CloudCoin is the next generation decentralized eCurrency. More about CloudCoin here!