ELixxir, a new cryptocurrency project created by founder of DigiCash David Chum, has not only attracted cryptocurrency enthusiasts, but also big names in the crypto world. The co-founder of Ripple, Chris Larsen, is one of the notable names that have shown interest in the project, investing in the vision of Chum.

Larsen invested in the consumer-oriented cryptocurrency project, noting that he sees great potential in it. He praised David Chum, saying that:

“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.”

When it comes to cryptocurrencies, everyone believes that the idea evolved from one Satoshi Nakamoto, who’s behind bitcoin. It appears that the vision of digital coins existed way before bitcoin was formed, as David Chaum was the first to come up with DigiCash.

The ambitious project of DigiCash came decades before bitcoin, almost fulfilling the dream of forming a native currency for the internet. The cryptographer pioneer, Chaum, is now looking to go into history books with the new Elixxir cryptocurrency project, which he claims will achieve ‘holy grail of network decentralization, blockchain security, and transaction speed.’

In an Interview with the Wallstreet Journal on September 19, the Godfather of cryptocurrencies said that the technological innovation in his new project, Elixxir, is going to be a game changer when it comes to blockchain adoption.

He told the publication that:

“These breakthroughs I’ve made change the whole game….We can actually meet the requirements to go to consumer scale.”

Elixxir utilizes an inversion of the traditional model of the blockchain, where instead of transactions being first aggregated into blocks before being processed, the blocks will be produced before the actual batching of transactions, giving the network power to process many of them quickly.

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