Ripple founder announces his investment in a new digital currency
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Answer Ripple founder announces his investment in a new digital currency
When historians will begin to chronicle the development of the cryptocurrency, one of the first chapters will be known as (DigiCash), which is the first appearance of the digital currency as it was a decade before “Bitcoin” and fulfills the dream of giving the Internet an authentic currency. However, project creator and cryptocurrency pioneer David Chaum wants his name to appear in subsequent chapters of the book as well.
Chom, now 63, is launching a new pilot project called Elixxir that he claims will hit the full mark in terms of network decentralization, collective security, and transaction speed.
In an interview with The Wall Street Journal published earlier this year, Chom claimed that the technological innovations in Elixir will change how the blockchain is adopted. actually fulfilling the requirements to reach the consumer scale.”Read:A partnership between Binance platform and one of the largest banks in Turkey
The Elixir project
Specifically, the Elixxir project implements a reversal of the traditional blockchain model where transactions are grouped into blocks and then processed through contract validation. Chom said the blocks would be produced rather than making transactions, allowing the network to process payments quickly and at scale.
It remains to be seen whether the production block will meet David Chum’s lofty expectations while also achieving adequate decentralization standards. Meanwhile, Elixir announced that the project has received a strategic investment from Karls Larsen, one of the founders of the Ripple Blockchain Launch Project, and thanks to his ownership of Ripple and XRP, he is one of the richest people in the field of cryptocurrencies. To be precise, he is the richest investor in crypto.
Commenting on the project, Larsen said he is optimistic about Elixir’s potential as a consumer-oriented network. He said: “David Chum has been an advocate of privacy in the digital world for nearly forty years. I am proud to be an early supporter of Elixir and look forward to seeing this improved blockchain open the door to secure use by millions of people in their daily lives.”Read:Find out… How much did the Twitter founder’s first NFT tweet cost?
H&D Company Pte. Ltd,” a Singapore-based investment firm, is also in the process of seed funding for the new project.
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