CloudCoin (CC), which made history by being the first cloud-based currency, recently launched an ERC20 version of the currency. The CloudCoin Ethereum (CCE) coins were listed on Bitcoin.com on October 13, 2020, according to an official announcement. CCE tokens will be easily exchanged for CC tokens, which will allow users to access a fast and secure payment system.
The Launch of ERC20 CCE Tokens
CloudCoin is the first cloud-based currency. It is designed as digital cash, which is built on a private, energy-efficient monetary system that has no fee. On October 13, 2020, the team behind the currency announced that it had launched CloudCoin Ethereum (CCE). The CCE tokens are an iteration of the CC currency on Ethereum. Holders of the CCE tokens will be able to conduct one-to-one exchanges with the CC currency. These tokens can be accessed on the Bitcoin.com Exchange.
The CloudCoin currency is a file-based currency, which can be shared via email-to-email transfers. Unlike many other cryptocurrencies, CC is built on DNS instead of the blockchain. CloudCoin utilizes a patented DNS-based authentication protocol called RAIDA. The RAIDA protocol enables fast and secure transactions using CC, which cannot be lost, stolen, or counterfeited.
Initially, users could only access CC by creating a Proton Mail account or through a Skywallet. However, the Bitcoin.com listing will ensure that CC coins are accessible to a wider audience. It will allow those working with Ethereum to make use of the innovative monetary system that powers CC.
CloudCoin Is A Unique Project
Commenting on the listing of CCE on Bitcoin.com, the Head of the exchange, Danish Chaudhry, said that the CloudCoin project was unlike anything else in the crypto sector. He added that by working with their dedicated team, they had found a way to get the tokens listed on the exchange. Chaudhry concluded by saying that CloudCoin would stand the test of time. Besides that, it would revolutionize other platforms looking for ways to list their token.
The Development of CloudCoin
According to Sean Worthington, the CEO of CloudCoin, the CC currency design is based on the “Theory of Perfect Money,” which is a concept he developed. The theory suggests that perfect money should be private, scalable, and fast to transact. Additionally, the theory suggests that perfect money should prevent the loss, counterfeiting, theft, and system-wide outages.
CloudCoin meets all the requirements of the theory. It offers quantum safety and data supremacy, which means neither governments nor hackers can bring it down. According to the announcement, CC is a post-blockchain, next-generation digital currency that uses nearly zero bandwidth and electricity.
It also has a fixed amount, which eliminates the risk of inflation. The currency is file-based and it can be stored in jpeg files or imported into video games and software. CloudCoin can be traded P2P without the need for a public ledger, fees, or a user account. A noteworthy unique feature of CloudCoin is Skywallet, which enables users to send coins using easy-to-remember DNS names.
CloudCoin appears to have followed the concept of wrapped tokens being used to bring digital currencies into Ethereum. While no major details have been released on how the one-to-one exchange of CC and CCE will occur, it is safe to assume it will follow the model used by many wrapped tokens.
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