David Chaum Presented a New Quantum Computer Resistant Cryptocurrency Praxxis
The new blockchain is an extension of another Chaum’s brainchild — Elixxir platform, focused on protecting the privacy of users. The platform became known in September last year.
Praxxis: A New Quantum Resistant Cryptocurrency
We are working on Praxxis decentralized digital currency to provide high-speed financial transactions. The world also needs Elixxir communications technology, as it is the only known practical way to break down the metadata that inevitably forms during our digital life. In order to support Elixxir, a better type of consensus is needed in comparison with what we have in the current blockchains. Today, he works in alpha mode without consensus, and this is the reason why I focus on the Praxxis project
stated D. Chaum
Concerning the press release, the Praxxis consensus protocol at the same time addresses the scalability, privacy and security issues that traditional blockchains face. It happens in order to provide the “purely peer-to-peer version of electronic cash” that Satoshi called for at the very beginning of bitcoin's white paper.
The focus on quantum resistance flows from the preceding debates on the overall vulnerability of Bitcoin to attacks from new-generation equipment.
Praxxis uses a type of cryptography, which not only differs fundamentally from those governmental approaches, but is also resistant to attacks at the quantum level. This avoids the fundamental vulnerability inherent in current widely used cryptographic tools.
Full technical specifications of Praxxis will be presented in white paper, which should be published later this year.
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