We call CloudCoin the “Last Digital Currency” because it is the first currency to obtain near perfection based on the “Theory of Perfect Money” and nothing more is needed. What is perfection? Perfection is a coin that can trade 24/7 in any part of the world with no fees. A coin that uses nearly zero electricity and bandwidth. A coin that is 100% private because it requires no usernames, logins, passwords or public ledgers. A coin that can be recovered if lost and theft can be mitigated. A coin with a fixed amount so that there is never any inflation. A coin that is file-based and separates data from logic so that it can be hidden in jpeg files or imported into software and video games. A coin that is patented by the USPTO so that it will not have thousands of copy-coins at least for the next 20 years. CloudCoin has a “Skywallet” that allows people to send coins using easy to remember DNS names. A digital currency that is quantum safe and will survive the extinction of cryptocurrencies that could occur in just a few years. Rather than using a Blockchain, CloudCoin utilizes an adaptation of the global Domain Name System (DNS) called RAIDA (Redundant Array of Independent Detection Agents). Note that the DSN is a data-store that has never gone down globally since 1985 and processes 2 trillion queries each day. Like the Blockchain and the DNS, the RAIDA provides “Data Supremacy” and cannot be taken down by hackers, governments or even nuclear weapons. “Cryptocurrencies built on Blockchains come with a host of challenges, making it difficult to do simple things like buy a cup of coffee. Transactions take too long, fees are too high, and it is still too difficult to scale,” said Sean Worthington, President of the CloudCoin Consortium. “We developed CloudCoin to overcome these challenges and pave the way for mass adoption.” CloudCoin may be the first patented currency. On May 12th 2020, The United States Patent and Trademark Office granted CloudCoin a rare patent for “Method of Authenticating and Exchanging Virtual Currencies” (Patent No 10650375). The patent was created so that there would not be 5,000 copy coins, as with cryptocurrencies, and is one of a few granted for virtual currencies. Just as the DNS system allows billions of people to find their web pages, CloudCoin enables millions of users globally to buy, sell and exchange with superior privacy and zero fees.
Each CloudCoin is a file that contains a serial number and 400 bytes of secret authenticity numbers. Using RAIDA, CloudCoin shreds those secret numbers into 25 streams of data and ships them to RAIDA clouds located around the world in different jurisdictions. The security of CloudCoins is due to shredding, not encryption; and there is also a fixed amount of CloudCoins, so there is no inflation. CloudCoins Feature Quantum Security Since the complete CloudCoin data is stored directly in the CloudCoins themselves, they remain uncompromised in the event RAIDA clouds are taken down. The patented “Triple Kerberos” fixed protocol allows CloudCoin owners to call on trusted RAIDA clouds to convince new RAIDA Clouds of a coin’s authenticity. Each RAIDA cloud is administered by an independent agent so there is no centralized control and no recorded transactions, ensuring a fully anonymous, private system. As the value of CloudCoins increases, more RAIDA clouds can be added to handle the demand. Over 150 million CloudCoins were traded in the month of June alone, demonstrating volume and realized value from the crypto community. With Blockchain, the amount of transactions would have cost millions in electricity and server power; however, CloudCoin offers a fast, secure and energy efficient alternative eliminating massive server rooms and costly energy consumption. CloudCoin provides the last digital currency needed based on DNS technology. The result is a more globally sound, efficient monetary system primed for the future of the digital economy.