In traditional monetary systems, the people who "have" the money own it. With CloudCoins, the people that "know" the money own it.
An artificial mind that is globally dispersed, self-healing, self-funded and indestructible knows which coins are real and which coins are counterfeits
Exclusive technology provides the first currency that cannot be counterfeited or lost, takes milliseconds to trade, 100% Anonymous
It is hidden inside a JPEG file
Inside a simple text file. Encrypt this, back it up and it cannot be stolen.
It is printed out in a QR. You can put this in your physical wallet
In a private ledger. Send and receive funds quickly by using Skywallet and other private ledgers
| Metric | Bitcoin® | CloudCoin™ | Notes |
|---|---|---|---|
| Underlying Technology | Cryptocurrency / Blockchain | Cloud Currency / RAIDA | Both RAIDA and Blockchain solve the physical integrity problem found in digital currencies. But RAIDA does it much faster, more efficiently and privately |
| Spending Speed | Spending takes 40 minutes or more to update public ledger and confirm. | Takes milliseconds to check authenticity. | Blockchains are not scalable. As the number of users and transactions and nodes increases, the time to confirm a transaction also increases Bitcoins Average Confirmation Time. The RAIDA is scalable. The more nodes that are added, the faster it gets. Bitcoin is becoming too slow to use as it becomes more popular. |
| Theft | Can be stolen | 100% Safe if encrypted. Theft can be stopped if owner updates the RAIDA before the thief. | To keep your CloudCoins safe, you should send them over encrypted channels and store them on encrypted media. Note that quantum computers could crack your encryption, but they would need to have access to your files first. The Blockchain is publicly accessible and vulnerable to quantum computer attacks. |
| Loss | Loss is permanent. See Guy Lost $67,000 in Bitcoin When he Upgraded His Computer | Loss can be recovered | An example: There have been CloudCoin owners and Bitcoin owners who reinstalled their operating systems, wiping out their money. However, the CloudCoin owners can merely record their Serial Numbers into a CloudCoin - Lost Coin Report and your CloudCoins will be emailed back to you. |
| Counterfeits | Can be mined | The Number of CloudCoins does not increase or decrease | CloudCoin is the first currency to have a fixed amount so that no money is added or lost. |
| Privacy? | Pseudonymous / Pseudo-Anonymous | 100% Anonymous | CloudCoin may be the most private currency ever created in human history. This is because there is no public ledger that requires accounts and because CloudCoin can be sent like cash over a computer using encrypted channels. |
| Software Required? | Requires “Wallet” | No special software needed | We have developed a Web page that allows you to Pown (password-own) your CloudCoins. |
| Time to get started | Takes over 24 hours to download the blockchain. See Why is downloading blocks taking longer and longer? | No downloads required | CloudCoins do not store data on a public ledger but instead store the data within themselves. No downloads required. |
| Account Required? | Account Required. see Bitcoins: How We Got Busted | No Account Required | CloudCoins themselves have the equivalent of accounts so you do not have to. The RAIDA manages all these accounts. |
| Public Ledger of all transactions | Uses Public Ledger that is available to the entire world including the KGB, CIA, China, etc. | There is no public ledger or centralized database. See: What is the RAIDA? | With Bitcoin, every time you send or receive money, the transactions are logged. Anyone who discovers your account ID can know everything you have done. |
| Quantum-Safe? | Bitcoin is not Quantum-Safe | Yes! Quantum-Safe | The United States National Security Agency most likely has quantum computers that are designed for breaking encryption. In theory, the Bitcoin Blockchain can be cracked in under two minutes with a quantum computer. The Blockchain may already be controlled by governments with quantum computers. |
| Storage | Special software Required | Printed on paper, memorized as passphrases, in cell phones or computers as text files or jpeg images or offline on any storage device. Encryption is optional. See How will you store your CloudCoins? | We are now working on software to show that CloudCoin is the first currency in human history that can be stored in one’s mind. |
| Importable | Bitcoin cannot function as a crossover currency. | CloudCoin is and can function as a crossover currency that can be imported and exported from software, including video games. Add a new dimension to your software! | Bitcoins are just notations on a public ledger. They do not exist in reality. CloudCoins are dispersed among all the owners. They can actually be imported into accounting systems and video games. |
| Trademark | Bitcoin is a registered trademark of Mt. Gox | CloudCoin has been registered so that it can be used as a general term throughout the digital currency ecosystem. | CloudCoin trademark is in progress. |
| Fractions | Bitcoin uses insane fractions like .000002 | CloudCoin uses only integer denominations (whole numbers like customary money). Comes in denominations of 1, 5, 25, 100 and 250 CloudCoin units. | People have a much easier time thinking about prices when expressed in integers. |
| Environmental Impact | Bitcoin requires millions of dollars in electricity. | CloudCoins use extraordinarily little electricity. | CloudCoins are much more sustainable. |
| Conclusion | First decentralized digital currency | Next-generation decentralized digital currency. See About CloudCoin | Real CloudCoins can be tried now. |