David Chaum Launches New Cryptocurrency with Ripple Founder
The man who invented DigiCash, a predecessor of BTC, Mr. David Chaum is considered a pioneer of cryptography. He is starting a new project in cryptocurrency that he has declared so innovative that it brings to life the dream of a digital currency that boasts of swift transactions, decentralized networks, and secure blockchain. He named the project: Elixxir.
Chaum said in an interview conducted a few months ago that Elixxir marks a significant shift in the adoption of blockchain. He claims that his invention is up to the challenge of going into consumer scale. This is because it is the opposite of the usual blockchain tech as its exchanges are accumulated into blocks and then sorted out using validating nodes. To give the framework space to sort out payment processes rapidly, the production of blocks will take place before the batching of transactions. It is still not clear if the systems producing blockchain will be capable of being amply decentralized.
Chris Larsen, one of Ripple's founders, has invested significantly in the Elixxir initiative. He expressed his hopes for the project’s success when it faces the consumers. He also declared that it is an honor for him to support Elixxir as he believes in its aptitude as a secure blockchain due to his faith in Chaum and his long-lasting fight for digital privacy.
He stated that Elixxir will serve millions of people on a daily basis. The project also received seed funding from a firm outside Singapore, H&D Company Pte Ltd.