David Schum, who created his digital currency eCash more than a decade before the appearance of bitcoin (the current course), introduced a new platform, which, he said, would allow trading digital money almost as fast as physical money.
A platform called Elixxir will be able to process thousands of transactions per second and reduce the energy needed to maintain the network. Now the bitcoin network can handle about seven transactions per second, low speed is a major obstacle to the popularization of the network. For comparison, Visa can handle tens of thousands of transactions for the same time. Similar indicators promise Elixxir.
Unlike the bitcoin network, blocks are first produced and then filled as transactions are recorded, which significantly reduces the processing time. Blocks in this new system will not contain real transactions and will not be associated with digital wallets. The network will store less information, which will reduce its vulnerability and reduce the energy needed to operate it.
And, finally, in Elixxir, all network members will be rewarded equally, regardless of the power of their equipment, and the platform itself will be released as an open source project (like bitcoin), so that developers can improve it and create on its basis own development.