DigiCash Creator David Chaum Emerges With New Elixxir Platform

David Chaum, who gained fame for constructing a digital currency long before Bitcoin, has emerged to introduce a new platform, Elixxir, at Consensus Singapore. He claims Elixxir will be able to process thousands of transactions per second.

David Chaum, widely seen as the inventor of digital cash, and a well-known advocate for blockchain technology, is now ready to unleash a new platform he claims can churn through thousands of transactions per second.

According to the Wall Street Journal, Chaum’s Elixxir platform produces blocks first and then sees them filled up as transactions are recorded, cutting down on processing time.

Chaum says the overall system processes and stores less data, which lessens potential security vulnerabilities and slashes the amount of required energy.

Introducing Elixxir

A press release says Elixxir was the product of almost two years of behind-the-scenes development.

Chaum officially unveiled the platform at CoinDesk Consensus Singapore. At the conference, he shared a technical breakdown of Elixxir and invited people to participate in the platform’s community.

According to Chaum, there are some fundamental solutions that are still needed for blockchain to make the “critical leap” from “store-of-value to consumer-scale payment and messaging.” He thinks Elixxir can solve many of these problems.

Overall, the Elixxir blockchain’s transaction processing speed essentially enables its “use as a smartphone app.”

In an interview, Chaum heralded the breakthroughs as a “game changer”, and asserted it was now possible to “actually meet the requirements to go to consumer scale.” He says Elixxir will be released as an open-source project.

David Chaum…Cryptocurrency Pioneer

David Chaum has been hard at work on ideas related to cryptocurrencies since the 1980s.

However, he told the Wall Street Journal how his 1990s invention, DigiCash, would not have ever been used at the time due to a lack of knowledge about the Internet.

Chaum, also referred to as the “father of online privacy,” is also well-known for his cryptography and secure election systems expertise, having founded the International Association for Cryptologic Research and the Voting Systems Institute. 

Crypto Market Update: Ethereum (ETH), XRP, Bitcoin Cash (BCH), and Chainlink (LINK)

Siamak Masnavi

This article provides: an overview of how Ethereum (ETH), XRP, Bitcoin Cash (BCH), and Chainlink (LINK) has been doing over the past 24-hour period; a recap of interesting recent news that might have affected their prices (or might do so in the future); and recent useful observations from Crypto Twitter regarding these cryptocurrencies.

To give you a rough idea of how well the crypto markets are doing today, 13 out of the top 20 cryptoassets (by market cap) are currently in the green (against the dollar). 

All market data used for the price charts in this article was taken between 15:30 UTC and 16:00 UTC on 22 October 2019 from CryptoCompare, which also generated the price charts shown in this article.

Ethereum (ETH)

ETH-USD 24 Hour Chart - 22 Oct 2019.png

Since October 16, ETH has been trading between $170 and $180. 

Earlier today, Hudson Jameson, Community Manager at Ethereum Foundation, said on Twitter that he is not happy with Ethereum's current governance structure and asked the crypto community for suggestions on how it could be improved:

Ethereum Foundation researcher Vlad Zamfir had this say in his reply to Jameson's tweet:


XRP-USD 24 Hour Chart - 22 Oct 2019.png

Although XRP is up only slightly down, in the past 30-day period, the XRP price has risen 6.96%. 

Earlier today, Ripple announced that it had expanded its global regulatory team and opened an office in the heart of Washington, DC. Furthermore, Craig Phillips, former Counselor to the Secretary at the U.S. Treasury Department, is now part of Ripple's Board of Directors. Lastly, Ripple has become a member of the Blockchain Association, and Michelle Bond, Ripple’s Global Head of Government Relations, will be sitting on its board.

Bitcoin Cash (BCH)

BCH-USD 24 Hour Chart - 22 Oct 2019.png

On October 17, CryptoGlobe reported that Changpeng Zhao (aka "CZ"), Co-Founder and CEO of Binance, the world's largest crypto exchange by trading volume, had proposed (on the Binance community forum) the idea of listing BCH on Binance DEX, Binance's decentralized exchange platform.

In his post on the Binance community forum, CZ said that Binance was proposing to list (on Binance DEX) BCH-1FD, "a pegged token that tracks the value of the native asset of the Bitcoin Cash" to allow "Binance DEX users to trade BCH on the DEX." CZ went on to say:

BCH-1FD is backed by real BCH assets, and Binance, the largest cryptocurrency exchange, will provide conversion between BCH and BCH-1FD through deposit/withdraw. As such, there isn’t much development work in this token or any potential of conflict of interest.

Yesterday, Binance announced that Binance DEX had listed this new token (i.e. BCH-1FD) and that trading in the pair BCH/BNB had gone live. Since then, there have been 2116 transactions.

Chainlink (LINK)

LINK-USD 24 Hour Chart - 22 Oct 2019.png

Chainlink continues having a great October, going up almost 10% today (highest gainer among the top 20 cryptoassets).

Chainlink continues to impress the crypto markets with a non-stop flow of partnership announcements; the latest one came yesterday when blockchain startup Ultrain announced via a blog post that it "will officially integrate with the Chainlink oracle network."

Chainlink's highly impressive return on investment (ROI) figures for the past seven days, 30 days, three months, and one year are +16.04%, +52.82%, +15.71%, and +607.18% respectively.


Featured Image Credit: Photo via Pixabay.com