Now, we know that Rimbit is #scam, let's talk about it and try to find a true alternative.
Elixxir - Printable Version

+- Now, we know that Rimbit is #scam, let's talk about it and try to find a true alternative. (http://rimbit.dk)
+-- Forum: Main (http://rimbit.dk/forum-1.html)
+--- Forum: Bitcoin and Altcoin (http://rimbit.dk/forum-15.html)
+--- Thread: Elixxir (/thread-956.html)

Pages: 1 2


Elixxir - Hugues - 2018-10-30

This one has it all. I think
If you ask me this token meets most of the criteria a token or coin should meet.
  • Near infinite scalability
  • Near infinite decentralisation. This means that their voting should be distributed over at least 10,000 to 100,000 different voters.That means, they CANNOT be PoW, because PoW suffers from strong mining pool centralization, so the voting is pretty much distributed across only 3 voters. They cannot be PoS, because PoS suffers from strong centralization of voting power among the rich, large companies, institutions, governments, thus defeating the whole point of the blockchain. They can also not be dPoS, because dPoS is only distributed across a few dozen nodes.
  • Low energy usage. Currently with around 50M users, Bitcoin uses 30TWh per year, around the electricity of a small country like Ireland. All banks together use around 100 TWh per year. With 5B users, Bitcoin would use 3,000 TWh per year, 300 times more than all banks combined, making it completely unusable as a global currency. The Bitcoin vs Visa Electricity Consumption Fallacy. This automatically disqualifies all PoW coins (Bitcoin, Litecoin, Bitcoin Cash, Dogecoin, Digibyte, Verge)
  • Permissionlessness and trustlessness. Permissionless means that there is no 3rd party making rules how to vote, thus giving permission. Trustlessness means that nodes do not need to trust each other in order to participate in the voting. This is not given for Ripple, Stellar, EOS, NEO, Ark, Lisk. They are all permissioned and non-trustless, which always leads to cartel formation, lobbyism and introduces a myriad of social engineering attack vectors such as blackmail, coercion, threats etc.
  • Zero Fees. Having fees is still suboptimal, but it is not such a big point compared to the above.
Have a good look at this brief:
https://elixxir.io/technical-brief

Also have a look at the team.


RE: Elixxir - Hugues - 2018-10-30

David Chaum, founder of Elixxir.
This guy has a hell of a reputation.

https://www.prnewswire.com/news-releases/announcing-david-chaums-elixxir-first-blockchain-capable-of-meeting-the-needs-of-consumer-scale-messaging-and-payments-300715769.html

https://en.wikipedia.org/wiki/David_Chaum

https://www.chaum.com/

http://heywyre.com/david-chaum-cryptocurrency/


RE: Elixxir - Carsten - 2018-10-31

Thanks for sharing.

Their homepage is not different from many other crypto project sites. It would be nice if they would be able to explain why we should believe in their solution in some clear shot statements. Most people won't have the time to read all their information.

You have tried to extract the essence of the information Hugues. Thanks. From what you write it looks similar to Cardano.


RE: Elixxir - Hugues - 2018-10-31

(2018-10-31, 10:02 AM)Carsten Wrote: Thanks for sharing.

Their homepage is not different from many other crypto project sites. It would be nice if they would be able to explain why we should believe in their solution in some clear shot statements. Most people won't have the time to read all their information.

You have tried to extract the essence of the information Hugues. Thanks. From what you write it looks similar to Cardano.

You have to dig a bit deeper to see how great this is. Also have a look at the resumes of the founder. He is genius.


RE: Elixxir - Carsten - 2018-10-31

Yes I see he is a smart guy.


RE: Elixxir - BobBobert - 2018-10-31

Good website and certainly to someone one of my level it talks a good game. No sign of where to invest though, so I assume they are not looking just now?


RE: Elixxir - Hugues - 2018-10-31

(2018-10-31, 04:33 PM)BobBobert Wrote: Good website and certainly to someone one of my level it talks a good game. No sign of where to invest though, so I assume they are not looking just now?

They didn't start yet. Not sure if they will do an ICO. The founder even refused $180M from Microsoft for his E-Cash system many years ago.


RE: Elixxir - Hugues - 2018-10-31

Look at this security system:

“Elixxir secures individual tokens rather than securing an entire wallet as a whole. Each token owned by a user is secured through knowledge of an individual secret, which means that even if an attacker successfully performs a brute-force attack, only one single token from the user can be compromised”


RE: Elixxir - Carsten - 2018-11-01

(2018-10-31, 08:20 PM)Hugues Wrote: Look at this security system:

“Elixxir secures individual tokens rather than securing an entire wallet as a whole. Each token owned by a user is secured through knowledge of an individual secret, which means that even if an attacker successfully performs a brute-force attack, only one single token from the user can be compromised”

Okay. I don't understand how that works.  Huh Huh


RE: Elixxir - Hugues - 2018-11-01

(2018-11-01, 09:31 AM)Carsten Wrote:
(2018-10-31, 08:20 PM)Hugues Wrote: Look at this security system:

“Elixxir secures individual tokens rather than securing an entire wallet as a whole. Each token owned by a user is secured through knowledge of an individual secret, which means that even if an attacker successfully performs a brute-force attack, only one single token from the user can be compromised”

Okay. I don't understand how that works.  Huh Huh
I suppose the guy knows what he is talking about.
Let's just wait and see.
I will follow the evolution of this project.