A cryptocurrency with a tiny portable blockchain
CodaProtocol Testnet Beta is live!
Today, if you want to check cryptocurrency transaction, you must first download a full copy of the blockchain. This works great in the early days of the network, but over time it quickly becomes impractical. When there are not too many cryptocurrency transactions, its block chain is only a few megabytes. As soon as there are more users and activity in the cryptocurrency, its block chain grows very significantly. Today, most modern blockchains are in gigabytes, and some even exceed 100 gigabytes. Coda overcomes this trade-off between scaling and decentralization by drastically reducing the amount of data each user must download. Instead of downloading the entire blockchain, the Coda network uses zk-SNARKs to compress the entire blockchain into a tiny snapshot and send this snapshot instead. This means that no matter how big the blockchain is, the cost of checking transactions and data remains constant and inexpensive – affordable for everyone.
Token: $3.5 million was collected during the seed round. At the moment it is unknown whether they are planning an ICO or not.
Team: There are 10 members listed on the website. The Coda team is quite strong and experienced. There are some of its key members below.
Evan Shapiro, CEO, graduated from Carnegie Mellon and got a bachelor's degree in computer science. He worked as a software engineer for Mozilla.
Izaak Meckler, CTO, is a mathematician and computer scientist, previously a graduate student who studied cryptography at the University of California, Berkeley. He wrote OCaml as a software engineer at the Jane Street trading company and contributed to numerous open source projects, including the Elm compiler.
Brad Cohn has many years of work experience, including classes in an electrophysiology laboratory, a high-frequency trading company, a technology analysis center, and a hedge fund. Previously he was an engineer in the Ray Dalio research team before joining a group of engineers dedicated to the main investment systems of Bridgewater Associates.
There are 3 advisors in the website. They are good experts in the field of cryptocurrency.
Jill Carlson is an advisor of cryptocurrency and block-dependent enterprises. She has worked on the Chain project with Nasdaq, State Street and the IMF. She conducted research in the area of Oxford University and the Cambridge Center for Alternative Financing and was represented as a speaker at IMF meetings, the World Government Summit and the Consensus.
Joseph Bonneau is an assistant professor at NYU. He graduated from Stanford University with a bachelor of science and a master’s degree in computer science and a University of Cambridge Ph.D. His research covers many topics in cryptography and security, including HTTPS and web security, passwords and authentication, end-to-end encrypted communications and channel-side cryptanalysis. He is the co-author of the popular textbook Bitcoin and Cryptocurrency Technologies and co-taught the first MOOC on cryptoconversion.
Paul Davison is the CEO of CoinList. Previously, he was CEO of Highlight, EIR at Benchmark Capital and vice president of Metaweb.