CloudCoin is based on a new counterfeit detection technology called the "RAIDA" (Redundant Array of Independent Detection Agents). Instead of having a public ledger that tracks all transactions, CloudCoin simply checks to see if the coins are authentic. The goal of CloudCoin is very simple: To be the best currency in the world. CloudCoins were developed based on a new "Theory of Perfect Money" that spells out confidentiality, efficiency, availability and integrity.
The perfect currency should require no accounts, usernames and passwords and should not record transactions.
The perfect currency should not require any noticeable resources and should have no fees.
The perfect currency should have data supremacy and be immune to hackers, governments and tech giants.
Users are not required to have accounts. Therefore CloudCoin is 100% private.
CloudCoins are file-based and not ledger-based so they seem like cash.
CloudCoins trade much faster than other currencies and usually authenticate in under 2 seconds.
CloudCoin is the most efficient payment system in the world and there are no fees associated with trades.
CloudCoin is the only cryptocurrency that can be recovered if lost.
It is easy to mitigate against the risk of theft.
CloudCoins can be hidden in files so that they are undetected.
CloudCoins do not depend on encryption for their physical integrity and are quantum-safe.
CloudCoins are much easier to use than other digital currencies.
CloudCoin is the first digital currency that is protected by a patent to prevent copy cats.
The amount of coins is fixed so the number never grows or shrinks.
The RAIDA Administrators are paid by recovering lost coins. Coins that have not been authenticated
for over five years.
The RAIDA was based on the root DNS Servers and have never gone down since the day it was created in 2016. The Root DNS servers haven't gone down since they were created in 1985.
CloudCoin did not have an ICO but instead, spent itself into existence.
CloudCoin is the most perfect coin based on the theoryof perfect money.
CloudCoin's Founder is Sean Worthington. Sean has worked as a tenured computer science instructor for over 20 years. His subject of specialty is System Administration including teaching Cisco Academy, Microsoft Certification, Linux and general Network Infrastructure.
Sean came to the realization that monetary systems are information systems that help people make decisions. He recognized that the Blockchain is a database and so are all other monetary systems. He asked himself what makes the Blockchain unique and came to the conclusion that the Blockchain has no owner and has a property that Sean coined called "Data Supremacy." This is when Hackers, Governments, Natural Disasters and even the creators and Administrators cannot take a database down.
Sean looked for other databases in the world that had data supremacy and found only one: The Root DNS System. This system has been up since the day it was created in 1985. Sean decided to use the Root DNS System as a starting point for the creation of a new data structure with Data Supremacy. He invented the RAIDA and received a patent USPTO #10,650,375 and granted the CloudCoin Consortium free use of the patent. The idea is to stop thousands of copy-cat coins like Blockchain has. Then he developed a global network of independent system administration so that each RAIDA server would be in a different legal jurisdiction (country) and so CloudCoin began.
The top exchanges for trading in CloudCoin are currently Folgory.com. Folgory is rated to be the most liquid exchange (745/100) at the time of this writing. Folgory has chosen CloudCoin to be a "Main" currency. This means that like Bitcoin, Ethereum and USDT, CloudCoin trades with any other currency and pairs automatically with every currency on the exchange.
The only time a coin needs governance is when there are decisions to be made. The CloudCoin Project Plan is on track for eliminating any decisions by Jan 1 2022.
Integrity is achieved by having redundant authentication systems. This means that each coin's authenticity is examined by 25 Agents. It is like going through customs while traveling and being required to show 25 different passports to 25 different custom agents. Because of the speed of light, we can do this within seconds. The RAIDA also has a network infrastructure of volunteers called the "Guardians" who provide DNS, Reverse Proxy, DoS Protection and other services to CloudCoin users.