The “godfather” of Cypherpunks movement and developer of first digital monetary system eCash Dr David Chaum announced about the start of new cryptocurrency – Elixxir.
According to the Chaum`s words, Elixxir is able to solve basic problems of digital currencies: low speed of transactions, poor level of privacy and scalability. He has noted that Elixxir will be resistant to possible disasters in the future. “It`s impossible to achieve high speed and scalability, when server has to perform an operation with public keys for every transaction” – the creator of eCash has claimed and has added that Elixxir will become the fastest cryptocurrency in the world.
Chaum offered a kind of “workaround” – making operations with public keys beforehand. He is convinced that new Elixxir will be in thousands times faster than all existing types. Developers of new cryptocurrency intend to use confidential calculation protocol in order to achieve maximum privacy. Investment resource has learned that this technology is already used in such anonymity oriented projects, as ZCash and Enigma. Let`s note, that Chaum made some changes in protocol`s operation. Nodes in Elixxir`s net (mixnodes) will produce confidential calculations for every block of transaction.
What is more, approach to the operations with public keys can quasi allow Elixxir to minimise the threat of quantum computers. Chaum has added that governments should actively fund developments resistant to quantum computing. However, WhalePanda, well-known Bitcoin maximalist, has noticed that its necessary to pass the KYC-procedure in order to launch nodes in Elixxir`s net (Mixxchain). He has found it quite strange, because the project itself focuses on the privacy of users.