The blockchain technology does not rest on its laurels, with more and more crypto-related companies set up every day. While some startups have a long way before becoming reputable, others are noticed by outstanding figures at early stages of development. These up-and-coming startups win investors’ funding and gain traction pretty quickly.
Such a destiny was prepared for Elixxir, launched by a famous cryptographer David Chaum during Consensus Singapore. Recently, the company announced a strategic investment from H&D Company led Chris Larsen, Ripple‘s co-founder. According to the company, they are very optimistic about Elixxir’s future and value the knowledge and experience that Elixxir’s leader has gained in the area.
H&D Company commented on the investment:
“H&D Company Pte Ltd and Elixxir are working together to give everyone the opportunity to build wealth by investing in products that are currently out of reach. We value David Chaum’s experience and innovations in cryptography and shared vision to create a more vibrant and sustainable future.”
Chris Larsen has the same view. He said:
“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 to Fulfill the Dream of Decentralization
Elixxir is a bockchain platform launched by David Chaum. Elixxir began its development in early 2016, however, the idea of the company was older, with the development starting in “stealth” mode.
Welcome to @elixxir_io! Led by David Chaum (@chaumdotcom) #Elixxir is a significant step forward in blockchain technology, providing users with a confidential & secure decentralized platform capable of scaling to meet the demands of mainstream adoption pic.twitter.com/QmYySibRpF
— Elixxir (@elixxir_io) September 19, 2018
The company’s website reads:
“Many have dreamed of scaling decentralized technology, providing consumers with the speed they are accustomed to and the privacy they expect — all without compromising security.”
Elixxir implements an inversion of the traditional blockchain model, wherein transactions are aggregated into blocks and then processed by validating nodes. The Elixxir design is capable of processing hundreds of thousands of confidential, quantum-resistant transactions in a matter of seconds. What is more, it can operate at a fraction of the energy of the bitcoin, addressing concerns over the energy consumption of the bitcoin network.
The company already has more than 1,500 interested parties that want to be a part of the company’s nodes. 500 developers have declared that they have interest in developing applications for this new company.
David Chaum to Revolutionize the Crypto Industry
Elixxir’s founder David Chaum was the first to create blockchain technology in 1982, being a graduate student at the University of California Berkeley. He has made a great contribution to the development of the technology. Recognized as the inventor of digital cash, Chaum is also known for his roles in DigiCash, an electronic money company founded more than a decade before bitcoin, and the Association for Cryptology Research, the cryptography group at the Center for Mathematics and Computer Science in Amsterdam.
Speaking at CoinDesk Consensus Singapore, Chaum said that Elixxir technology is a fundamentally new solution able to revolutionize the entire crypto industry. He also believes that in the future, Elixxir will be used by a wide group of people not only for payment, but also for taking control over their data online.