Updated: Jan 22, 2019
Stephanie Vaughan, CFO of Elixxir, joined us November 9th for TF 2 to talk about solving blockchain privacy and scalability. Elixxir is founded by one of the first digital currency creators, David Chaum.
David has been concerned with the downsides of blockchain networks, especially on speed and privacy. That is why he came out with a better strategy to increase computational speed by combining random functions in the blockchain network of Elixxir.
Why would you take hours in completing a transaction online whereas nodes can be pre-computed and hence increase the speed in blockchain?
Stephanie emphasizes that blockchain technology should increase the speed of transactions and enable security of the systems to enable privacy and scalability of the blockchain network.
She argues that for mass consumers to be onboarded, blockchain networks must be faster and remain decentralized.
Elixxir is quite different from existing networks in a variety of ways.
The first way is that it will enable the finalizing of transactions on a single platform. Even if one uses Coinbase, it does not finalize the transaction.
Finalizing transactions in other blockchain network takes quite a long time. So private keys that are used to authenticate ownership are basically pre-computed and hence completing transactions is less time consuming.
To learn more in-depth of ways solving privacy and scalability, watch Stephanie Vaughan’s full presentation at TF 2 below:
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