CloudCoin - New Cloud Technology Challenging Bitcoin

By CloudCoin | CloudCoin | 11 Jul 2019

$1.28 tipped


A new technology called RAIDA (Redundant Array of Independent Detection Agents), used to detect the authenticity of a new cloud-based digital currency – CloudCoin, aims to challenge the technology (Blockchain) standing behind Bitcoin.

The name of the challenger is CloudCoin™

CloudCoin™ is a cloud-based digital currency that makes some substantial claims.

It claims that it cannot be counterfeited, controlled, or tracked. That it cannot be double-spent, mined or lost. That it is 100% private and requires no public ledgers, accounts, or encryption. And that it is a completely fair and ethical monetary system.

CloudCoin and its underlying technology named RAIDA has ambitious plans.
At this point, even if the claims are true, it sounds like David and Goliath … but we all know how that story ended, could this be the same?
And even if it’s a new mouse trap with improvements … does it matter?

CloudCoin and RAIDA aim to challenge Bitcoin and Blockchain technology.

Let’s look at how it claims to challenge Bitcoin and Blockchain technology in multiple areas.

Actually, let’s take a close look
Based upon my understanding, these are not just surface changes. The term paradigm-changing probably has been used more often than it should, but if simultaneous changes in speed, security, anonymity, cost, ecological footprint, and impenetrability can be (or may already have been,) accomplished by CloudCoin, then the world has actually changed and it’s only a matter of time for people to recognize it and catch up.
So, lots of big aims and big claims. Let’s peek beneath the hood.

RAIDA History

The RAIDA project was created by Sean H. Worthington, a professor who was working on a PhD (Computer Information Systems) dissertation on an artificial intelligent object recognition system that could recognize and identify money for vending machines. The system used Worthington's "Magic Neuron" design that required many computes to act like neurons. The data store could be taught and could memorize the notes. He understood that he could create a brain in the cloud that could identify millions of individual notes and even be taught to recognize changes.

In August 2016, Worthington minted 16,777,216 CloudCoin notes and registered them with the RAIDA - then in experimental development.
After filing a provisional patent, he set out to create the RAIDA. The provisional patent was granted (#62354022). Because he realized the potential scope of what he was trying to accomplish, and that monetary systems are information systems, Worthington first needed to recruit world-class Systems Administrators throughout the world. This has been completed. System Administrators and Programmers joined the “CloudCoin Consortium” from numerous countries including Taiwan, Philippines, Japan, India, Serbia, Russia, Germany, UK, Macedonia, Venezuela, Columbia, USA, Italy and others. Once the extensive network was in place the proof of concept tests were conducted in January 2017. These tests showed conclusively that the CloudCoin invention worked in practice as it did in theory.

RAIDAtech

This is the development company for the RAIDA technology, who is pioneering new uses of the patented RAIDA technology, the first and foremost being CloudCoin.

RAIDA is an acronym for the

* Redundant
* Array of
* Independent
* Detection
* Agents

What makes it up? How does it work? What makes it safer? What are the benefits?
First, let's address "what is RAIDA?"
https://cloudcoin.global/raida.html
http://www.cloudcoinwiki.com/RAIDA

In short, RAIDA is a decentralized cloud-based technology consisting of 25 of 25 independent clouds of servers. The clouds store and process CloudCoin files.
These Clouds are hidden in different countries around the planet: Australia, Macedonia, Philippines, Serbia, Switzerland, South Korea, Japan, UK, India, Germany, USA, Taiwan, Russia, France, Singapore, Argentina and Canada. Each of these clouds consist of a Sentinel and 32 Detection Agents.

The RAIDA is a new authentication protocol that is the first of its kind and the first true Cloud-based authentication system. Most authentication protocols require one password to be given to one server that is checked against one database. The RAIDA uses many passwords against many different servers each with a no-share database. This allows to have decentralized authentication, fault tolerance, high availability and tamper proof data.

CONSTANT MONITORING

https://raida.cloudcoinconsortium.com/
The status of the RAIDA network is always monitored and can be observed by anyone.
The RAIDA continually updates about every 30 seconds.

A key difference between Bitcoin and CloudCoin™ is that all the coding is contained within the CloudCoin™ itself.

NO PUBLIC KEY

A public key provides a route for the unlikely, but not impossible, hacking of Bitcoin. This is especially true for a number of super computers working in tandem, let alone a quantum computer.

Being public, it also provides information on the values of what is being transmitted, and to a thief this could look like an armoured car transporting a large amount of money and therefore being a difficult, but tempting target.

Thinking of the hacker being part of a well-funded crime syndicate, huge competitor or unfriendly government, the target must be tempting enough for the thieves to even consider investing a considerable amount of their time, energy and resources.

Here’s a quote that was attributed to an infamous American bank robber named Willie Sutton when asked a question of why he robbed banks. His reply was:
“Because that’s where the money is.”

CloudCoin TRANSMISSIONS ARE INDIVIDUAL

They are not batched. With CloudCoin you do not have an “armoured truck” carrying a big load of money.

Additionally, there isn’t any kind of value indicator to let anyone know whether there are only a few CloudCoins being sent to a friend, or millions that are being transmitted in business.

But what if there is some hacker who has access to huge computing power, but isn’t very practical, or has a lot of time to waste? Not likely. But perhaps a team of hackers who are part of a crime syndicate, an unscrupulous banking organization, or some corrupt government?

HERE'S FEW THINGS THE HACKERS WOULD NEED TO CONFRONT!

- Each line of the authenticity code consists of a 16-byte password that is 100% random.

- Most authentication protocols require one password to be given to one server that is checked against one database. The RAIDA uses many passwords against many different servers, each with a no-share database.

- Presuming that a hacker were able to find one of the hidden detection agents and capture it, and then break its code, the hacker would only have 1/32 of 1/25th of the authentication data. So, even if a hacker could decrypt it, doing that would not provide ownership of any coins.

- In order to crack a CloudCoin, a hacker would nearly simultaneously need to guess the Authenticity Numbers of a majority of the RAIDA located around the world.

- The RAIDA also has a bottleneck of how many codes can be guessed at each second. This is like when you forget or mistype a passcode three times and you get locked out. The public ledger does not have a bottleneck. With a public ledger, a hacker could make as many guesses as they have servers. If a hacker has a football field full of supercomputers (like the NSA), then they could guess trillions of combinations per second. With quantum computers, a hacker could guess all combinations within two minutes and crack the Blockchain.

- With RAIDA, a hacker is limited to only guess 8 million guesses per second, per RAIDA. If one were to take the time to run the math, it would clearly show that it would take more guesses than there is the time in the Universe to crack a CloudCoin. Therefore, the RAIDA is also quantum safe.

HOW IS THE SYSTEM ITSELF SAFE FROM ATTACK OR HARM?

- The clouds are scattered all around the world in secret locations.

- RAIDA servers do not require large computer facilities which are easy to spot.

- CloudCoin has a very small electrical footprint. This not only ensures its financial and ecological viability, but also eliminates the possibility of locating one of the RAIDA servers through the monitoring of electrical consumption.

- RAIDA has data redundancy for instantaneous backup and is self-healing. If one of the detection agents gets knocked out, it is automatically replaced by a new one.

WHAT ARE CloudCoin’s MAJOR BENEFITS?

1. Users can remain completely anonymous. Not pseudo anonymous as with Bitcoin. In this regard CloudCoins are like paper money. Naturally, you would keep your own records, and have accounts with businesses, and handle your responsibilities, but anonymity is your decision and there is no ledger tracking your business or who you transact with.

2. Cannot be manipulated. Governments and banks publicize horrible things to manipulate people into agreeing to give up their freedom. They use emotionally charged things like drugs, child pornography, sex trafficking, terrorism and others as a justification, or a reason, for you to give up your anonymity, your freedom and the control of your finances. These “we have to protect you” justifications all seem reasonable to well-intentioned people, but when you look behind the curtain you can see that they are being used by unscrupulous powers to justify their efforts to take control of your finances. Restricting your freedom and taking away your rights is not the correct solution to handle these problems.

3. Your money or wealth is not limited to, or controlled by one economic system. It’s not restricted by borders. With CloudCoin you could think of your money as invisible and international.

4. Because the file sizes are very small, they require very little storage and transmit quickly. On the server level, there is no need for large, expensive and energy consuming storage.

5. On a personal level, CloudCoin wallets are under 5 MB and download in a few minutes compared with a huge Bitcoin wallet that may take days to download.

6. CloudCoin transaction speeds are blazingly fast, with authentications measured in milliseconds. 8 000 000 TPS

7. Utility value: In a practical sense, a currency is only as valuable as it makes trade safer and easier. With CloudCoin it only takes a few seconds for a retail merchant, who has people waiting in line at a checkout counter, to check authenticity, and be paid.

8. Transaction costs are pennies, making small purchases like a cup of coffee viable.

9. CloudCoin wallets are free and can be downloaded by anyone.

10. You can send a CloudCoin to anyone on earth who has a computer, smartphone or tablet, and an internet connection in seconds. This makes Peer-to-Peer transactions super-fast, free and confidential.

11. Since CloudCoins use simple integers, like paper money, the values are easy to understand.

12. CloudCoins are limited. Only a fixed amount have been minted and no more will ever be added. This eliminates the possibility of inflation. Your money will not lose value because some government or entity creates more in order to manipulate the economy.

13. CloudCoins cannot be taken from your account by anyone.

14. The money in you CloudCoin account is not visible.

15. Your account cannot be frozen.

16. CloudCoins cannot be copied or double spent. This is because with each transaction the authentication code is changed and the ownership is transferred to the receiver.

17. CloudCoins cannot be permanently lost. Procedures are in place that can immediately find lost coins, but if for some reason the coins are lost without having copies of the serial numbers, there still exists a way that lost coins can be recovered after two years. It is the first digital currency that can be found if lost.

18. The CloudCoin RAIDA system is completely scalable. Because of its small file sizes, very small electrical requirements, and the small size of the computers necessary, the system can be expanded indefinitely while remaining financially and ecologically viable. It has the capability of serving a global economy.

THE PURPOSE OF CloudCoin.
The purpose of having a currency like CloudCoin is simply to enhance free trade.
We believe that trade is simultaneously; (a) the glue that binds peoples and nations together, and (b) the lubricant that smooths out the frictions born out of the differences between them.

Where free trade prospers, wars cease.

Free trade acknowledges and rewards true value. It’s independent and outside of beliefs or political ideologies.

We therefore hold that the basic purpose of a true currency is simply, and only, its ability to quickly, safely and easily facilitate free trade anywhere in the world.

WHY RAIDA AND CLOUDCOIN?

THE PROBLEM

The person or persons known as “Satoshi Nakamoto” introduced a revolutionary advancement affecting technology, finance, sociology and other fields with the advent of distributed ledger technology in 2008. Nakamoto was the first to solve what computer scientists call ‘the physical integrity problem’, allowing for the creation of the first widely-accepted digital currencies that could not be copied or double-spent.

That was over a decade ago.

For over a decade, distributed ledger technology (DLT, also known as blockchain) has promised to provide solutions for every problem from currency inflation to world hunger to global warming.

The hype has not been the reality. Blockchain technology has been hampered by the inability to efficiently scale, unreasonable transactional times, and overly complex and dangerous consensus paradigms. Blockchain applications are immensely harmful to the environment, consuming more electricity each day than used by most nations. There has been progress in the application of distributed ledger technology, but improvements have not come close to solving its fundamental weaknesses. DLT has failed to deliver on its promise to become a transformative innovation.

Continuous advances in quantum computing, meanwhile, threaten to completely nullify the centerpiece of DLT: asymmetric elliptic curve cryptography.

The Quantum Era is near, if not already upon us, as many experts believe. Quantum computers rely on quantum mechanical phenomena like entanglement and superposition to operate on quantum bits of data (qubits). Traditional bits are binary: they are either ones or they are zeros. Qubits, essentially, can be ones, zeros or both at the same time. A quantum computer is able to process data twenty million or more times faster than a traditional one. The simple reality is that by the time DLT/blockchain technology reaches anything near critical mass, it will already be obsolete!

The next generation of technology to provide immersive customer engagement, shield data transmission, stop counterfeiting, ensure privacy, safeguard financial security and protect intellectual property will be effective only if it is quantum-safe and provides solutions to blockchain’s problems with scalability, speed, privacy efficiency, governance and ecological harm.

NOW

Present time --- See for yourself

CloudCoin™ is in the process of finalizing its new “Client Wallet” and will be inviting a limited number of public to take part in the second stage of Beta Testing. No technical knowledge is required. As mentioned above, the wallet is only about 5 MG in size and downloads quickly.

People participating in the Beta Test will be provided with CloudCoins to use during the testing, and upon completion will be rewarded for participating.
If you are interested in participating, and possibly be part of building a new world, contact the person who sent you this and ask to be added to the list of beta-testers.

"CloudCoin Wallet." This program will change many things and make CloudCoin much more usable. CloudCoin Wallet can automatically make change and it can send CloudCoins from one person to another with a click of a button. Its transfer time maybe the fastest of any payment system in the world. We are able to send coins to the change maker, and get them back within four seconds. This means that a user can send the two transactions of sending money, making sure it is authentic, sending change and making sure that is authentic (two transactions) happen in less time than it takes to approve a Visa payment. People get to have their own username. In a few days we will have Merchant software that allows anyone to accept CloudCoins as payment. The exchange is well underway. We will focus all effort on Liquidity and it will be a fast effort.

CloudCoin Wallet, has been released to the public and can be found at: https://cloudcoinconsortium.com/use.html.
We expect to have the final version done within two weeks. The new Wallet can fix 400 fracked coins at a time instead of one at a time, track your deposits and transfers, Allow you to encrypt your coins, allow you to embed email hash for recovering lost coins by email. It can fix coins in the case that they RAIDA does not answer, It can also all you to keep your coins in the Cloud and transfer them to another person instantly without using email or other forms of file transfer. CloudCoin Use https://cloudcoinconsortium.com .The new version also comes in a high contrast version.The final version will have the ability to process 1000 coins at one time instead of 400, will be able to transfer from one Skywallet account to another, will have multi fix and hopefully can recover lost coins by email. It will also fix any bugs that we find in the Beta version. Lastly, I hope to include a way for a user to get one free CloudCoin if they sign up for out news letter. This will help them create a Skywallet to receive CloudCoins.

Now we are officially in the Liquidity state. This is when we make it so our coin can be changed into goods, services and other currencies very quickly. Projects include the P2P Exchange, The Escrowed Exchange, The Craigs-List type Store, the Merchant software, APIs and Video games. The Peer To Peer Exchange. The backend and front-end business layer are 95% done. The GUI for the P2P exchange is 50% done. Then we need to add payments systems. An P2P exchange ready for testing in just a few weeks. The Merchant Software: Creates a "Pay With CloudCoin" button. It is completed and now in testing. Yea! We will need to improve it over time!


If you interested and want to participate in beta testing of our Wallet - PLEASE GIVE US THE FEEDBACK!

 


CloudCoin
CloudCoin

Our mission is to provide a "perfect" global currency that cannot be counterfeited, double-spent, mined or lost; eCurrency that is 100% private, requires no public ledgers, accounts, or even encryption; a monetary system that is absolutely fair.


CloudCoin
CloudCoin

Our mission is to provide a "perfect" global currency that cannot be counterfeited, double-spent, mined or lost; eCurrency that is 100% private, requires no public ledgers, accounts, or even encryption; a monetary system that is absolutely fair!

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