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Computer scientist has better alternative to Bitcoin
Worthington appeared promoting his new book, Beyond Bitcoin: The Future of Digital Currency, discussed why Bitcoin is flawed and listed advantages of his next generation alternative:
Worthington said CloudCoin is a digital currency that is superior to Bitcoin because CloudCoin's underlying technology, the provisionally patented RAIDA system, solves the problems faced by Bitcoin's blockchain technology.
Meredith asked why Bitcoin has so many problems.
"It does have some big problems," Worthington said, "One problem is that Bitcoin is not scalable. The more people who use it, the slower it gets."
Worthington said the inherent problems of Bitcoin are the reasons for the internecine battles within the Bitcoin community that has lead to forks of the currency.
"Bitcoin was the first one," Meredith said, "So really they had no framework to look at mistakes. So you've created CloudCoin as a digital currency to eliminate those mistakes you've observed in Bitcoin… you haven't just put safeguards in, you've developed a whole new system."
"It's really amazing to think about," Meredith summarized.
CloudCoins have been trading publicly for several months and the trading price has risen as much as 850%.
Worthington's book details Bitcoin and blockchain's other shortcomings, including the sheer size of the blockchain (150 GB and growing), the massive amount of power consumed by Bitcoin mining (as much as the entire state of New Mexico each day) and the tremendous length of time it takes to conduct Bitcoin transactions (from two hours to as much as two weeks).
Worthington is a tenured faculty member in the Computer Science department at Butte College in Calif. His book is available free at http://digitalfrontiernews.com for a limited time, along with five free CloudCoins.
Visit http://cloudcoin.global for more information about CloudCoin and the provisionally patented RAIDA technology.
Contact Ace Fogerson for more information or to arrange an interview with Worthington.