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We the Internet: Bitcoin Developers Seed Idea for Bitcloud

Phys.Org (01/27/14) Nancy Owano 

Bitcoin developers want to decentralize the current Internet and replace it with a new Internet. The Bitcloud developer group has proposed a peer-to-peer system for sharing bandwidth, and enabling individual users to complete computing tasks such as routing, storing, or computing in exchange for cash. The Bitcloud approach would enable nodes on a mesh network to be rewarded financially for routing traffic in a brand-new mesh network. The researchers note their cash model would eliminate the need for Internet service providers. The proposal is based on the ideas of Bitcoin, Mediaglobin, and Tor, and the researchers are looking for more developers to assist with the project. They point out that the initiative demands a “massive amount of thought and development in many different parts of the protocol, so we need as many people helping as possible.” Cloudcoins would be the system’s currency, and would operate similar to bitcoins as the currency of the Bitcoin protocol. “If you’re interested in privacy, security, ending Internet censorship, decentralizing the Internet, and creating a new mesh network to replace the Internet, then you should join or support this project,” according to a recent appeal on Reddit.

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