David Cham, E-cash, unveils his new digital currency. The digital currency, he said, will also be resistant to attacks by quantum computers.
In a post released on August 20, Cham announced the initial release of Praxxis, which is still undergoing a six-month development Praxxis.
This new blockchina will continue the path of the Elixxir project, unveiled last September, and is intended to be closely linked to the project's framework.
Cham explains in this post:
The Praxxis collective agreement protocol can solve old blockchain problems like scalability, privacy, and security at once. The three problems that can be solved are "a peer to peer version of digital money" as Satoshi pointed out in his early White Pepper. The Praxxis currency is also designed to take advantage of the power of its sister privacy platform, Elixir, properly.
Although his recent efforts in the digital currency space are a bit distant from Bitcoin, Cham is referred to as one of the founding fathers of digital currency.
Is there really a quantum threat ahead?
The current focus of digital currency developers on resisting quantum attacks comes from an argument that Bitcoin is vulnerable to the next generation of hardware, quantum processors.
Of course, experts such as Andreas Antonopoulos firmly reject these concerns.
In a March Q&A session, Andreas said:
We are very confident that the National Security Agency (NSA) has already made quantum computers. Google also has one of them in its data center. If Google also has a computer you can be sure that the NSA computer is ten times more powerful.
But can they hack Bitcoin? Our answer to this question is simple. No.
Cham Praxxis launched at Tuesday's official Web3 Summit in Berlin.