What is CloudCoin?

in cloudcoin •  13 days ago

Sean Worthington

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CloudCoin is a digital currency that gets its physical integrity - not from cryptography like with crypto currencies - but from the redundancy of Cloud Computing.
With Crypto currencies, you must have an account on a public ledger and you must have a public and private key to access this account. People who you want to transact with must also have accounts and keys. Because of these account number, Crypto currencies are said to be "Pseudo Anonymous."
With CloudCoin, the CloudCoins themselves have accounts. This means that there are no user accounts needed and no user-names or passwords. This makes CloudCoin the first 100% private digital currency in the world. CloudCoin transaction are not tracked in a blockchain.
Crypto currencies rely on the Blockchain to obtain "Data Supremacy" so that they cannot be hacked or brought down by anyone including government. CloudCoin get their Data Supremacy from the RAIDA (Redundant Array of Independent Detection Agents). The RAIDA is 825 servers that work in a similar fashion to the DNS (Domain Name System). CloudCoin stores data in the CloudCoin files themselves which are dispersed among hundreds of thousands of users. When traded, CloudCoins need to be "POWNED" (password owned) and the RAIDA must be updated.
There are 1.4 billion CloudCoin and the amount never grows or shrinks so there will be no monetary inflation or deflation after the all coins are in circulation. Each CloudCoin is mirrored in 25 Clouds so that 24 Clouds would need to go down before any coins were lost. Because each Cloud is designed to have 32 servers, the amount of servers that would need to be taken down for there to be loss is considered impossible. Just like the DNS System has never gone down since its inception in 1985, the RAIDA has never gone down and there has been no loss of data in the first two years of the RAIDA.
Just like the global DNS system, the RAIDA is believed to be able to handle the entire world's transactions and this makes CloudCoin the first globally scalable digital currency. Transactions take less then two seconds.
Because CloudCoin transactions require very little bandwidth and processing power, they are 10,000 times more energy efficient than Cryptocurrency.
Because CloudCoin separates the data from the logic, CloudCoins are the first currency that can crossover from the real world into the virtual word. CloudCoin can be stored safely without the risk of theft and CloudCoins are the first digital currency that can be recovered if lost.
CloudCoins were designed based on the "Informational Theory of Perfect Money" and are being spent into existence. They are paid to programmers and system administrators who build the network and software. The coins are expected to be completely spent and all in circulation Jan 2022. There has never been and never will be a CloudCoin ICO (Initial Coin Offering). This is because CloudCoin is a real money and does not need to be traded with other currencies. Instead,
The CloudCoin Founders do not suggest that people think of CloudCoins as an investment as they will probably not undergo any kind of scarcity until 2022.

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