Despite their crackdown on cryptocurrency mining, China is purchasing massive amounts of CloudCoin, according to CloudCoin founder Sean Worthington.
CloudCoin is a unique digital currency in that it is not based on the blockchain technology that most cryptos use. This gives CloudCoin several advantages over bitcoin, ethereum, and other blockchain-based currencies.
One of these major advantages is that CloudCoin is 'Quantum Safe'. Quantum computers will make blockchain vulnerable to advanced decrypting software. RAIDA (Redundant Array of Independent Detection Agents), on which CloudCoin is built, uses authentication as opposed to encryption to determine the ownership of a coin. RAIDA technology will also be the backbone behind secure servers, e-mail, and financial transactions everywhere.
CloudCoin is also a 'green & clean' digital currency. A growing number of socially and environmentally-conscious investors want to put their money into something they can feel good about. The amount of energy usage to process a bitcoin transaction caused Elon Musk to reverse his initial decision to accept bitcoin to purchase Tesla vehicles. Economic and environmental authorities are starting to take notice. The European Central Bank recently described crypto-assets’ exorbitant carbon footprint as 'grounds for concern', with bitcoin’s annual energy consumption being half that of the entire UK, and growing.
Storing and transferring CloudCoin requires virtually no energy, as they are just a piece of code on an image file. This makes CloudCoin an extremely convenient sustainable monetary system. CloudCoin can be scaled-up globally and still have an insignificant impact on the environment.
Bitcoin is also plagued by slow transaction times, with transactions taking from hours to days. In comparison, CloudCoin transactions take microseconds to transact. You can also transfer CloudCoin through messaging and email apps like Telegram or Gmail. And unlike other cryptos, these transactions are free.
Finally, unlike bitcoin, CloudCoins are recoverable if they are lost. Studies have shown approximately 20% of Bitcoin has been “lost”. This equated to over 140 BILLION dollars lost. CloudCoin has two separate methods of recovering lost coins. This truly sets CloudCoin above and beyond the rest.
With CloudCoin also coming very soon to literally tens of thousands of ATMS worldwide, CloudCoin will soon be on the lips and in the wallets of individuals, merchants, and investors everywhere.
