Ripple Co-Founder Invests in David Chaum’s new blockchain Elixxir

Ripple Co-Founder Invests in David Chaum’s new blockchain Elixxir

David Chaum, an American computer scientist, and a cryptographer has launched an Elixxir blockchain, which aims to fulfill the vision of decentralization initiated by Satoshi Nakamoto.

After turning down Ecash, a digital cash method which existed long before Bitcoin, David Chaum has come up with yet another project named Elixxir. This blockchain can conduct sensitive transactions and scale up to 100,000 transactions per second.

However, Elixxir still has a long way to go before it can handle thousands of confidential quantum-resistant transactions in seconds overcoming the drawbacks of Bitcoin and Ethereum. Furthermore, it operates with low energy, which is way less than that consumed during the Bitcoin processing.

Maybe because the founder is David who is regarded as a mastermind of the cryptopunk movement, more than 1,500 parties registered for running the Elixxir nodes and over 500 developers were interested in building the dApps for the blockchain within just 10 days.

Chris Larsen, the co-founder of Ripple and one of the wealthiest men in the cryptocurrency space is also investing in this startup to boost the network. Ripple is currently among the top 5 cryptocurrencies according to the market capitalization. Apart from being a part of Elixxir, Ripple has partnered with global institutions in Spain, Japan and other countries for building a gateway payment which is operated in the ripple network.

The investment was led by Singapore-based H&D Company Pvt which is owned by Larsen. He commented on the optimistic side of Elixxir and appreciated the experience of Chaum. According to Larsen:

“David Chaum has been a defender of privacy in the digital world for almost forty years. I am proud to be an early backer of Elixxir and look forward to seeing this consumer-facing blockchain open the door to secure use by millions of individuals in their daily lives,”

Elixxir is expected to revolutionize the blockchain world Elixxir. With the back support of Ripple, we can definitely expect that happening soon. What do you think about the collaborations? Do let us know in the comment section below.

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