CloudCoin

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. 

About CloudCoin

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.

Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. The information has been obtained from sources we believe to be reliable; however no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Authors may own the crypto currency they discuss. The information and content are subject to change without notice. Visionary Financial and its affiliates do not provide investment, tax, legal or accounting advice.

This material has been prepared for informational purposes only and is the opinion of the author, and is not intended to provide, and should not be relied on for, investment, tax, legal, accounting advice. You should consult your own investment, tax, legal and accounting advisors before engaging in any transaction. All content published by Visionary Financial is not an endorsement whatsoever. Visionary Financial was not compensated to submit this article Please also visit our Privacy policy; disclaimer; and terms and conditions page for further information.

You May Also Like

How BSOV Token Price Can Benefit From Greater Mining Costs

The BSOV Token  With all the noise, scams, price fluctuations, and fake…

Philanthropist Bill Pulte to Help Africans With Bitcoin

Bill Pulte who has become famous for his act of generosity and…

Waves Ports High-Interest Yielding Stablecoin Neutrino USD to Ethereum Network

Paves Path for Decentralized Forex and Inter-Chain DeFi SAN FRANCISCO- August 18,…
NULS Blockchain

veriTAG Leverages NULS Blockchain to Solve Asia’s Food Safety Problem

SAN FRANCISCO – August 27, 2020 – VeriTAG, a cloud-based tracking system…