Bitcoin’s transaction speed depends on the number of transactions occurring and number of miners available at that time. While it’s usually about 10 minutes, during the January 2018 frenzy, transactions were taking as long as 16 hours to confirm (source).
CloudCoin’s RAIDA authentication is built to scale. Currently, the RAIDA authentication network can handle over 300,000 transactions every two seconds. As CloudCoin becomes more popular, the RAIDA network will scale to deliver even faster authentications.
While Bitcoin is perceived as private and decentralized, there are many copies of the central ledger documenting each transaction making it neither private nor decentralized. Every time you send or receive Bitcoin, intelligence agencies and governments around the world can see it too.
CloudCoin may be the most private currency ever created in human history. This is because there is no public ledger and it doesn’t require accounts. CloudCoin can be sent through encrypted and hidden methods that can’t be traced.
CloudCoin has a decentralized authentication network instead of miners calculating useless math. This system is so efficient, it renders the energy usage per transaction negligible. The entire RAIDA network uses less electricity than the average home. This efficiency empowers the public with the ability to conduct transactions with no additional fees!
Owning a Bitcoin wallet requires downloading the over 300 Gigabyte (and growing) central ledger blockchain (source). The growth of the blockchain will accelerate further if there is a mass adoption of Bitcoin in regular commerce. This would make owning a personal wallet on a typical personal computer impossible. Enthusiasts will point to “Moore’s Law,” stating the number of transistors in a microchip doubles every two years which characterized advancements in technology for about 50 years (source). However, many experts agree this law is now dead as advancements have slowed in recent years (source) portending the end of the Bitcoin wallet.
Meanwhile, all of the CloudCoins in existence total only 16 Gigabytes in size. CloudCoin does not require advancements in technology to sustain itself with mass adoption.
Blockchain uses public key encryption that is not quantum-safe, according to the US NIST (National Institute of Standards and Technology). Bitcoin’s private key has been perceived as safe, with 128 bit encryption, and would take a supercomputer 10’s of thousands of years to break. It is predicted that a quantum computer could break this in a matter hours or days.
CloudCoin is quantum-safe in both storage and transportation because of design and the RAIDA authentication network. The coins themself do not require encryption to store since they are shredded. The RAIDA communications can be transported using AES encryption that is quantum-safe according to the NIST (source).
Crypto enthusiasts are familiar with the stories of people irretrievably losing fortunes in mishaps like 7,500 Bitcoins lost by accidentally discarding the wrong hard drive (source), 850,000 Bitcoins stolen by hackers from the Mt Gox exchange (source), 6,000 Bitcoins lost by mistakenly discarding the offline printed key (source), among many other unfortunate stories (source). Experts predict 4.4 million of the18.3 million Bitcoins mined are now forever lost and about 1,500 Bitcoins are lost daily (source).
If you are willing to register your email by encrypting it into your CloudCoins and keep a record of your serial numbers, there is a recovery process available should they become lost. Additionally, no CloudCoins are lost forever as they will eventually cycle back for the RAIDA system administrators to recover. This helps cover the costs of sustaining and scaling the system.
Bitcoin is not easily divisible in a fashion that people can quickly comprend relative to the government currencies with which they are accustomed. For instance, one can quickly appreciate whether or not they are getting a fair deal if a latte costs $5 or the latest iPhone is $999. But if those same prices are in Bitcoin (as of 12/31/20), that latte is 0.00017 and the iPhone is 0.034. This is substantially more difficult to interpret without a calculator.
CloudCoin uses only whole numbers (integers) that people can more easily understand. To keep the currency functional as the value increases, a split will happen, multiplying your CloudCoins in number, preserving it’s utility as a currency by staying in the same relative range of purchasing power. For example, when CloudCoin is sustained at $2, a 1:100 split will automatically occur, multiplying the CloudCoins by 100 and reducing the CloudCoin value to $0.02. This means if you had 10 CloudCoins worth $2 a piece, you will now have 1,000 CloudCoins worth $0.02 apiece, an equal value.