https://en.bitcoin.it/w/api.php?action=feedcontributions&feedformat=atom&user=VolkaBitcoin Wiki - User contributions [en]2026-05-15T06:24:55ZUser contributionsMediaWiki 1.43.8https://en.bitcoin.it/w/index.php?title=CryptoNote&diff=51452CryptoNote2014-09-24T14:47:06Z<p>Volka: The situation is ambiguous and it seems like an individual's point of view. Here are the links that justify the changes made in the article: http://goo.gl/rlGijz, http://goo.gl/8jVfkF, http://goo.gl/byy7Hw</p>
<hr />
<div>CryptoNote is an open-sourced protocol that allows for increased privacy in cryptocurrency transactions.<br />
<br />
== Features == <br />
<br />
===Difficult to trace and link payments ===<br />
<br />
Unlike traditional cryptocurrencies that mostly use unambiguous signatures to verify the transfer, CryptoNote utilizes [https://en.wikipedia.org/wiki/Ring_signature ring signature]. Ring signature is a more sophisticated scheme that demand several different public keys for verification. In this case the transaction is signed by a group of users. Thus, the verifier may only identify that one of them was a signer, but not who exactly that was. Though this does not offer provable anonymity (like [[Zerocoin]]), the increase in privacy in comparison to Bitcoin is considerable. <br />
<br />
CryptoNote automatically creates multiple unique one-time addresses for each of the payments, which are created from the single public key. Even though the payment is sent to a public address, in the block chain it appears as if it is sent to a one-time address. The sender uses random data and the public address of the receiver to calculate this one-time key of the payment. The redemption of the funds requires the receiver's private key, so only the latter may receive the money sent to the one-time address. Moreover, no third party can discover the link between the one-time key and the receiver's public address.<br />
<br />
=== Double-spending proof ===<br />
<br />
CryptoNote's ring signatures restrict the double-spending attempt by linking the transactions with the same private key. The protocol uses the key image, derived from a private key through a one-way function. All the users keep the list of all the used key images, which are checked against a new transaction. In case there is a duplicate key image, the transaction is rejected as a double-spending attempt. However, the identity of the sender would still be unknown, since it is impossible to get the private key from its image.<br />
<br />
=== Block chain analysis resistance === <br />
<br />
CryptoNote creates an obstacle for an analyst by using ring signatures and one-time addresses covered above. Every address of the payment is a unique one-time key, which is created from both the sender's and the receiver's data, and the usage of ring signature hides the exact outputs that have been spent for the input. Therefore, each next transaction increases the number of possible senders and hides the actual connection even more.<br />
<br />
=== Adaptive limits === <br />
<br />
There are no hard constants and magic numbers in CryptoNote. Each limit (e.g., max block size, or min fee amount) is re-calculated based on the historical data of the system. Moreover, the difficulty and the max block size are automatically adjusted with each new block. The main idea of the algorithm is to sum all the work that nodes have performed during the last 720 blocks and divide it by the time they have spent to accomplish it. The measure of the work is the corresponding difficulty value for each of the blocks. <br />
<br />
=== Smooth emission ===<br />
<br />
The coins are emitted smoothly, as the reward changes with each new block. This allows a predictable steady growth of money supply determined by the formula<ref>https://cryptonote.org/inside.php#smooth-emission</ref>:<br />
<br />
BaseReward = (MSupply - A) >> 18<br />
MSupply = 2^64 - 1 (atomic units)<br />
<br />
=== Egalitarian proof of work ===<br />
<br />
CryptoNote uses [[CryptoNight]] hashing algorithm as its proof-of-work.<br />
<!-- Please rephrase in such a way that it is true (this wording is NOT true):<br />
Its main feature is that it is suitable only for the ordinary PCs, since CryptoNight utilizes built-in CPU instructions, which are too expensive to implement in the special purpose devices. Therefore, unlike SHA256d, it allows preserving the equality among various users and prohibits centralization of the network in the hands of several miners.<br />
--><br />
The proof of work mechanism is actually a voting system. Users vote for the right order of the transactions, for enabling new features in the protocol and for the honest money supply distribution.<br />
<br />
== Origins ==<br />
<br />
The first version of CN – CryptoNote v.1 (December 12 2012) was published in Tor http://ol346fucnsjru223.onion/whitepaper.pdf <br />
<br />
Little is known about CryptoNote's origins. The official website uses supposedly fake names for the team members, while the white paper's author is Nicolas van Saberhagen, which is also likely to be a pseudonym. The white paper "CryptoNote v 2.0" is dated back to October 2013<ref>https://cryptonote.org/whitepaper.pdf</ref>.<br />
<br />
== Philosophy ==<br />
<br />
CryptoNote philosophy has several key points: privacy as a fundamental human right; government's influence and control remission as an aim. <br />
The economy should be separated from politics, communities should set new transparent principles, and impartial cryptographic algorithms should control its implementation.<br />
<br />
== See also ==<br />
<br />
* [[CryptoNight]]<br />
<br />
== External links ==<br />
<br />
* [https://cryptonote.org CryptoNote website]<br />
* [https://forum.cryptonote.org Official forum]<br />
* [https://github.com/amjuarez/bytecoin Reference code]<br />
* [https://cryptonote.org/whitepaper.pdf White paper]<br />
* [https://cryptonote.org/coins.php CryptoNote Currencies]<br />
<br />
== References ==<br />
<br />
<references/><br />
<br />
[[Category:Digital currencies]]<br />
[[Category:Anonymity]]</div>Volkahttps://en.bitcoin.it/w/index.php?title=CryptoNote&diff=51451CryptoNote2014-09-24T14:09:14Z<p>Volka: Link doesn't work, you get an error.</p>
<hr />
<div>CryptoNote is an open-sourced protocol that allows for increased privacy in cryptocurrency transactions.<br />
<br />
== Features == <br />
<br />
===Difficult to trace and link payments ===<br />
<br />
Unlike traditional cryptocurrencies that mostly use unambiguous signatures to verify the transfer, CryptoNote utilizes [https://en.wikipedia.org/wiki/Ring_signature ring signature]. Ring signature is a more sophisticated scheme that demand several different public keys for verification. In this case the transaction is signed by a group of users. Thus, the verifier may only identify that one of them was a signer, but not who exactly that was. Though this does not offer provable anonymity (like [[Zerocoin]]), the increase in privacy in comparison to Bitcoin is considerable. <br />
<br />
CryptoNote automatically creates multiple unique one-time addresses for each of the payments, which are created from the single public key. Even though the payment is sent to a public address, in the block chain it appears as if it is sent to a one-time address. The sender uses random data and the public address of the receiver to calculate this one-time key of the payment. The redemption of the funds requires the receiver's private key, so only the latter may receive the money sent to the one-time address. Moreover, no third party can discover the link between the one-time key and the receiver's public address.<br />
<br />
=== Double-spending proof ===<br />
<br />
CryptoNote's ring signatures restrict the double-spending attempt by linking the transactions with the same private key. The protocol uses the key image, derived from a private key through a one-way function. All the users keep the list of all the used key images, which are checked against a new transaction. In case there is a duplicate key image, the transaction is rejected as a double-spending attempt. However, the identity of the sender would still be unknown, since it is impossible to get the private key from its image.<br />
<br />
=== Block chain analysis resistance === <br />
<br />
CryptoNote creates an obstacle for an analyst by using ring signatures and one-time addresses covered above. Every address of the payment is a unique one-time key, which is created from both the sender's and the receiver's data, and the usage of ring signature hides the exact outputs that have been spent for the input. Therefore, each next transaction increases the number of possible senders and hides the actual connection even more.<br />
<br />
=== Adaptive limits === <br />
<br />
There are no hard constants and magic numbers in CryptoNote. Each limit (e.g., max block size, or min fee amount) is re-calculated based on the historical data of the system. Moreover, the difficulty and the max block size are automatically adjusted with each new block. The main idea of the algorithm is to sum all the work that nodes have performed during the last 720 blocks and divide it by the time they have spent to accomplish it. The measure of the work is the corresponding difficulty value for each of the blocks. <br />
<br />
=== Smooth emission ===<br />
<br />
The coins are emitted smoothly, as the reward changes with each new block. This allows a predictable steady growth of money supply determined by the formula<ref>https://cryptonote.org/inside.php#smooth-emission</ref>:<br />
<br />
BaseReward = (MSupply - A) >> 18<br />
MSupply = 2^64 - 1 (atomic units)<br />
<br />
=== Egalitarian proof of work ===<br />
<br />
CryptoNote uses [[CryptoNight]] hashing algorithm as its proof-of-work.<br />
<!-- Please rephrase in such a way that it is true (this wording is NOT true):<br />
Its main feature is that it is suitable only for the ordinary PCs, since CryptoNight utilizes built-in CPU instructions, which are too expensive to implement in the special purpose devices. Therefore, unlike SHA256d, it allows preserving the equality among various users and prohibits centralization of the network in the hands of several miners.<br />
--><br />
The proof of work mechanism is actually a voting system. Users vote for the right order of the transactions, for enabling new features in the protocol and for the honest money supply distribution.<br />
<br />
== Origins ==<br />
<br />
The first version of CN – CryptoNote v.1 (December 12 2012) was published in Tor http://ol346fucnsjru223.onion/whitepaper.pdf <br />
<br />
Little is known about CryptoNote's origins. The official website uses supposedly fake names for the team members, while the white paper's author is Nicolas van Saberhagen, which is also likely to be a pseudonym. The white paper "CryptoNote v 2.0" is dated back to October 2013<ref>https://cryptonote.org/whitepaper.pdf</ref>, [https://bitcointalk.org/index.php?topic=740112.0 but this date appears to have been faked].<br />
<br />
== Philosophy ==<br />
<br />
CryptoNote philosophy has several key points: privacy as a fundamental human right; government's influence and control remission as an aim. <br />
The economy should be separated from politics, communities should set new transparent principles, and impartial cryptographic algorithms should control its implementation.<br />
<br />
== See also ==<br />
<br />
* [[CryptoNight]]<br />
<br />
== External links ==<br />
<br />
* [https://cryptonote.org CryptoNote website]<br />
* [https://forum.cryptonote.org Official forum]<br />
* [https://github.com/amjuarez/bytecoin Reference code]<br />
* [https://cryptonote.org/whitepaper.pdf White paper]<br />
* [https://cryptonote.org/coins.php CryptoNote Currencies]<br />
<br />
== References ==<br />
<br />
<references/><br />
<br />
[[Category:Digital currencies]]<br />
[[Category:Anonymity]]</div>Volkahttps://en.bitcoin.it/w/index.php?title=CryptoNote&diff=51433CryptoNote2014-09-23T17:53:16Z<p>Volka: </p>
<hr />
<div>CryptoNote is an open-sourced protocol that allows for increased privacy in cryptocurrency transactions.<br />
<br />
== Features == <br />
<br />
===Difficult to trace and link payments ===<br />
<br />
Unlike traditional cryptocurrencies that mostly use unambiguous signatures to verify the transfer, CryptoNote utilizes [https://en.wikipedia.org/wiki/Ring_signature ring signature]. Ring signature is a more sophisticated scheme that demand several different public keys for verification. In this case the transaction is signed by a group of users. Thus, the verifier may only identify that one of them was a signer, but not who exactly that was. Though this does not offer provable anonymity (like [[Zerocoin]]), the increase in privacy in comparison to Bitcoin is considerable. <br />
<br />
CryptoNote automatically creates multiple unique one-time addresses for each of the payments, which are created from the single public key. Even though the payment is sent to a public address, in the block chain it appears as if it is sent to a one-time address. The sender uses random data and the public address of the receiver to calculate this one-time key of the payment. The redemption of the funds requires the receiver's private key, so only the latter may receive the money sent to the one-time address. Moreover, no third party can discover the link between the one-time key and the receiver's public address.<br />
<br />
=== Double-spending proof ===<br />
<br />
CryptoNote's ring signatures restrict the double-spending attempt by linking the transactions with the same private key. The protocol uses the key image, derived from a private key through a one-way function. All the users keep the list of all the used key images, which are checked against a new transaction. In case there is a duplicate key image, the transaction is rejected as a double-spending attempt. However, the identity of the sender would still be unknown, since it is impossible to get the private key from its image.<br />
<br />
=== Block chain analysis resistance === <br />
<br />
CryptoNote creates an obstacle for an analyst by using ring signatures and one-time addresses covered above. Every address of the payment is a unique one-time key, which is created from both the sender's and the receiver's data, and the usage of ring signature hides the exact outputs that have been spent for the input. Therefore, each next transaction increases the number of possible senders and hides the actual connection even more.<br />
<br />
=== Adaptive limits === <br />
<br />
There are no hard constants and magic numbers in CryptoNote. Each limit (e.g., max block size, or min fee amount) is re-calculated based on the historical data of the system. Moreover, the difficulty and the max block size are automatically adjusted with each new block. The main idea of the algorithm is to sum all the work that nodes have performed during the last 720 blocks and divide it by the time they have spent to accomplish it. The measure of the work is the corresponding difficulty value for each of the blocks. <br />
<br />
=== Smooth emission ===<br />
<br />
The coins are emitted smoothly, as the reward changes with each new block. This allows a predictable steady growth of money supply determined by the formula<ref>https://cryptonote.org/inside.php#smooth-emission</ref>:<br />
<br />
BaseReward = (MSupply - A) >> 18<br />
MSupply = 2^64 - 1 (atomic units)<br />
<br />
=== Egalitarian proof of work ===<br />
<br />
CryptoNote uses [[CryptoNight]] hashing algorithm as its proof-of-work.<br />
<!-- Please rephrase in such a way that it is true (this wording is NOT true):<br />
Its main feature is that it is suitable only for the ordinary PCs, since CryptoNight utilizes built-in CPU instructions, which are too expensive to implement in the special purpose devices. Therefore, unlike SHA256d, it allows preserving the equality among various users and prohibits centralization of the network in the hands of several miners.<br />
--><br />
The proof of work mechanism is actually a voting system. Users vote for the right order of the transactions, for enabling new features in the protocol and for the honest money supply distribution.<br />
<br />
== Origins ==<br />
<br />
The first version of CN – CryptoNote v.1 (December 12 2012) was published in Tor http://ol346fucnsjru223.onion/whitepaper.pdf <br />
<br />
Little is known about CryptoNote's origins. The official website uses supposedly fake names for the team members, while the white paper's author is Nicolas van Saberhagen, which is also likely to be a pseudonym. The white paper "CryptoNote v 2.0" is dated back to October 2013<ref>https://cryptonote.org/whitepaper.pdf</ref>.<br />
<br />
== Philosophy ==<br />
<br />
CryptoNote philosophy has several key points: privacy as a fundamental human right; government's influence and control remission as an aim. <br />
The economy should be separated from politics, communities should set new transparent principles, and impartial cryptographic algorithms should control its implementation.<br />
<br />
== See also ==<br />
<br />
* [[CryptoNight]]<br />
<br />
== External links ==<br />
<br />
* [https://cryptonote.org CryptoNote website]<br />
* [https://forum.cryptonote.org Official forum]<br />
* [https://github.com/amjuarez/bytecoin Reference code]<br />
* [https://cryptonote.org/whitepaper.pdf White paper]<br />
* [https://cryptonote.org/coins.php CryptoNote Currencies]<br />
<br />
== References ==<br />
<br />
<references/><br />
<br />
[[Category:Digital currencies]]<br />
[[Category:Anonymity]]</div>Volkahttps://en.bitcoin.it/w/index.php?title=Comparison_of_cryptocurrencies&diff=51400Comparison of cryptocurrencies2014-09-22T11:58:39Z<p>Volka: </p>
<hr />
<div>This article aims to list relevant cryptocurrencies.<br/>To be listed here, a currency must have '''one''' of the following qualities:<br />
*The currency must have a market cap of one million US dollars.<br />
*The currency must be the first to introduce an innovative protocol.<br />
*The currency must have at one point had significant notoriety.<br />
*The currency must have been an infamous fraud.<br />
These coins are currently ordered according to launch date.<br />
<br />
{| class="wikitable sortable" style="width: 100%; text-align: center; font-size: smaller; "<br />
! style="width: 1;" | Coin<br />
! style="width: 1;" | Ticker<br />
! style="width: 1;" | Launched<br />
! style="width: 99;" | Protocol<br />
! style="width: 1;" | Distribution<br />
! style="width: 1;" | Market cap<br />
! style="width: 1;" | Unit cap<br />
! style="width: 1;" | Status<br />
! Notes<br />
|-<br />
| style="text-align: left;" | [[File:Bitcoin.png|16px|link=]] [[Bitcoin]]<br />
| BTC<br />
| 3 Jan 2009<br />
| SHA256d<br />
| rowspan=2 | Proof-of-work (fixed, halving)<br />
| rowspan=2 | $6.34 billion<br />
| 20,999,999.9769<br />
| {{yes|Active}}<br />
| First blockchain<br />
|-<br />
| style="text-align: left;" | [[File:Bitcoin.png|16px|link=]] [[Tonal Bitcoin]]<br />
| TBC<br />
| 2 Jan 2011<br />
| SHA256d<br />
| 7,750,54.00<br />
| {{yes|Active}}<br />
| First on-chain alternative<br />
|-<br />
| style="text-align: left;" | Ripple<br />
| XRP<br />
| 1 Mar 2011<br />
| Ripple<br />
| Central<br />
| $139 million<br />
| 28,989,252,282<br />
| {{yes|Active}}<br />
| <br />
|-<br />
| style="text-align: left;" | [[File:Namecoin.png|16px|link=]] [[Namecoin]]<br />
| NMC<br />
| 18 Apr 2011<br />
| SHA256d<br />
| Proof-of-work (fixed, halving)<br />
| $9.83 million<br />
| 20,999,999.9769<br />
| {{partial|Broken}}<br />
| First alternative chain, bitDNS<br />
|-<br />
| style="text-align: left;" | Tenebrix<br />
| TBX<br />
| 25 Sep 2011<br />
| [[scrypt]]<br />
| Central, Proof-of-work (fixed, halving)<br />
| ''None''<br />
| 10,499,999.9769<br />
| {{no|Dead}}<br />
| First [[scrypt]] coin<br />
|-<br />
| style="text-align: left;" | [[File:Litecoin.png|16px|link=]] Litecoin<br />
| LTC<br />
| 7 Oct 2011<br />
| [[scrypt]]<br />
| Proof-of-work (fixed, halving)<br />
| $154 million<br />
| 83,999,949.9076<br />
| {{yes|Active}}<br />
| TBX clone<br />
|-<br />
| style="text-align: left;" | Bytecoin<br />
| BCN<br />
| 4 Jul 2012<br />
| [[CryptoNight]]<br />
| Proof-of-work (random, smooth)<br />
| $2.73 million<br />
| 184.46 billion<br />
| {{yes|Active}}<br />
| First CryptoNote coin<br />
|-<br />
| style="text-align: left;" | [[File:Peercoin.png|16px|link=]] Peercoin<br />
| PPC<br />
| 19 Aug 2012<br />
| SHA256d<br />
| Proof-of-work/stake<br />
| $15.5 million<br />
| Unlimited<br />
| {{yes|Active}}<br />
|<br />
|-<br />
| style="text-align: left;" | Freicoin<br />
| FRC<br />
| 21 Dec 2012<br />
| SHA256d<br />
| Proof-of-work<br />
| $84 thousand<br />
|?<br />
| {{Yes|Active}}<br />
| First demurrage cryptocurrency<br />
|-<br />
| style="text-align: left;" | Feathercoin<br />
| FTC<br />
| 16 Apr 2013<br />
| [[scrypt]]<br />
| Proof-of-work (fixed, halving)<br />
| $1.15 million<br />
|?<br />
| {{yes|Active}}<br />
| LTC hardfork<br />
|-<br />
| style="text-align: left;" | Primecoin<br />
| XPM<br />
| 7 Jul 2013<br />
| [[Cunningham]]<br />
| Proof-of-work<br />
| $1.2 million<br />
|?<br />
| {{Yes|Active}}<br />
| First "useful proof-of-work" altcoin<br />
|-<br />
| style="text-align: left;" | [[File:Btsx.png|16px|link=]] BitSharesX<br />
| BTSX<br />
| 29 Sep 2013<br />
| BitSharesX<br />
|?<br />
| $66.5 million<br />
| 1,999,992,536<br />
| {{yes|Active}}<br />
|<br />
|-<br />
| style="text-align: left;" | [[File:Nxt.png|16px|link=]] Nxt<br />
| NXT<br />
| 29 Sep 2013<br />
| Nxt<br />
| Central<br />
| $29.0 million<br />
| 999,997,096<br />
| {{yes|Active}}<br />
| <br />
|-<br />
| style="text-align: left;" | [[File:Dogecoin.png|16px|link=]] Dogecoin<br />
| DOGE<br />
| 6 Dec 2013<br />
| [[scrypt]]<br />
| Proof-of-work (random)<br />
| $12.7 million<br />
| Unlimited<br />
| {{yes|Active}}<br />
| Was joke, became huge<br />
|-<br />
| style="text-align: left;" | [[File:Darkcoin.png|16px|link=]] Darkcoin<br />
| DRK<br />
| 19 Jan 2014<br />
| [[Combo11]]<br />
| Proof-of-work (fixed, curve)<br />
| $12.5 million<br />
| 18.4 million (estimate)<br />
| {{yes|Active}}<br />
| <br />
|-<br />
| style="text-align: left;" | HunterCoin<br />
| HUC<br />
| 1 Feb 2014<br />
| SHA256d and/or [[scrypt]]<br />
| Game rewards, Proof-of-work<br />
| $47 thousand<br />
| 42,000,000<br />
| {{yes|Active}}<br />
| First blockchain-based game<br />
|-<br />
| style="text-align: left;" | [[File:Monero.png|16px|link=]] Monero<br />
| XMR<br />
| 18 Apr 2014<br />
| [[CryptoNight]]<br />
| Proof-of-work (random, smooth)<br />
| $6.27 million<br />
| 18,446,744,073,709,551,615<br />
| {{yes|Active}}<br />
|<br />
|-<br />
| style="text-align: left;" | [[File:Maid.png|16px|link=]] MaidSafeCoin<br />
| MAID<br />
| 22 Apr 2014<br />
| Mastercoin<br />
| Central<br />
| $8.54 million<br />
| 452,552,412<br />
| {{yes|Active}}<br />
|<br />
|}<br />
<!--<br />
==Top 100==<br />
<br />
=== Anoncoin (ANC) ===<br />
* [https://anoncoin.net/ Anoncoin website]<br />
* [https://wiki.anoncoin.net Anoncoin wiki]<br />
* Built in support of I2P and Tor<br />
* 4.2 million total coins<br />
* Block reward 5 ANC, halved every 306k blocks<br />
* Block target 3.4 minutes, difficulty changes every block<br />
* Launched: June 2, 2013<br />
<br />
The goal of Anoncoin is to provide a truly anonymous cryptocurrency. The location of the user is concealed by providing built-in support of the I2P darknet and Tor. [[Zerocoin]] will be implemented in an upcoming release, making it impossible to trace transactions in the blockchain.<br />
<br />
=== Bytecoin (BCN) ===<br />
* '''BCN''' https://bytecoin.org<br />
* '''CryptoNote''' technology https://cryptonote.org/<br />
* Algorithm: '''CryptoNight'''<br />
* Started on July 4, 2012<br />
* Block time: '''120 seconds (2 minutes)'''<br />
* Difficulty retargets each block<br />
* Block reward decreases each block according to the formula: BaseReward = (MSupply - A)/2^18, where MSupply = (2^64 - 1) atomic units and 'A' is amount of already generated coins<br />
* Total 184.46 billion BCN<br />
* '''Forum''' https://bitcointalk.org/index.php?topic=512747.0<br />
* '''Forum''' https://cryptocointalk.com/forum/1362-bytecoin-bcn/<br />
* '''Twitter''' https://twitter.com/Bytecoin_BCN<br />
* '''Block chain''' https://chainradar.com/<br />
* '''Coin features:'''<br />
**Difficult to trace payments by use of ring signature<br />
**Only CPU-mining & ASIC-resistant<br />
**POW mechanism is a voting system for users<br />
<br />
=== Devcoin (DEV) ===<br />
* https://bitcointalk.org/index.php?topic=34586.0<br />
* (merged mined with BTC)<br />
* blocks every '''10 min'''<br />
* coin supply* '''constant generation''' coins will be available (???)<br />
* difficulty adjustment '''2016 blocks'''<br />
* hashing algorithm '''SHA256d'''<br />
* Reward '''50,000''' coins per block<br />
* '''EXTRA 90% block subsidy goes to foundation'''<br />
<br />
=== FeatherCoin (FTC) ===<br />
* http://feathercoin.com/<br />
* A fork of Litecoin<br />
* 243 million total coins<br />
<br />
=== Freicoin (FRC) ===<br />
* http://freico.in/<br />
* http://www.freicoin.org/<br />
* blocks every '''10 minutes'''<br />
* coin supply* '''100 million''' coins will be available<br />
* difficulty adjustment '''2016 blocks'''<br />
* hashing algorithm '''SHA-256'''<br />
* [http://www.freicoin.org/freicoin-generation-graph-t41-20.html#p532 Arithmetically decreasing] reward<br />
* EXTRA: <br />
**4.89% annual [http://en.wikipedia.org/wiki/Demurrage_currency demurrage]<br />
**80% block subsidy [http://www.freicoin.org/application-developer-best-practices-t87.html#p919 goes to foundation for the first 3 years] (about 500 coins for each of first 161280 blocks, total 80m)<br />
<br />
=== GoldCoin (GLD) ===<br />
* http://gldcoin.com/<br />
* https://www.gldtalk.org/<br />
* https://bitcointalk.org/index.php?topic=317568.0<br />
* blocks every '''2 minutes'''<br />
* coin supply* '''123 million''' coins will be available<br />
* difficulty adjustment* '''60 blocks'''<br />
* hashing algorithm '''Scrypt'''<br />
* reward '''45''' coins per block<br />
<br />
=== IxCoin (IXC) ===<br />
* https://bitcointalk.org/index.php?topic=36701.0<br />
* (merged mined with BTC)<br />
* blocks every '''10 min'''<br />
* Coin supply* '''21 million''' coins will be available<br />
* difficulty adjustment '''2016 blocks'''<br />
* hashing algorithm '''SHA1''' <br />
* Reward '''96 '''coins per block<br />
<br />
=== Mastercoin (MSC) ===<br />
* http://www.mastercoin.org<br />
* Coin supply: 619478.59338440 MSC<br />
* Launch Date: September 1, 2013<br />
* Blockchain: Uses Bitcoin for transport, storage and security, inherits Bitcoin Protocol properties<br />
* Extended Properties: Distributed Exchange, Savings & Guardian Addresses, Contracts for Difference, Smart Properties, User Currencies<br />
* Protocol: Master Protocol <br />
* Spec Github Repo: https://github.com/mastercoin-MSC/spec<br />
<br />
=== Megacoin (MΣC) ===<br />
* http://www.megacoin.co.nz/<br />
* https://forum.megacoin.co.nz<br />
* Block Target is 2.5 minutes<br />
* Block reward halved every every 420,000 blocks<br />
* 25 coins per block<br />
* 42 Million total coins<br />
* Difficulty changes every block<br />
<br />
The implentation of the Kimoto Gravity well retargets difficulty every block. This keeps mining fair and secure for all miners and users of the coin, and prevents the rampant multipool abuse that was (and still is) common with most all other altcoins out on the market today. <br />
<br />
=== Netcoin (NET) ===<br />
* Main - http://netcoin.org.uk/<br />
* Forums - http://forum.netcoinfoundation.org/<br />
* blocks every '''1 min'''<br />
* coin supply* '''320.6 million''' coins will be available<br />
* difficulty adjustment* '''60 blocks'''<br />
* hashing algorithm '''Scrypt'''<br />
* Initial Reward '''1024 '''coins per block<br />
* Reward Halves '''Every 3 months or 129,600 Blocks'''<br />
* Market Cap: approx. $200,000 (Dec 4th, 2013)<br />
* Launch Date: Sept 2nd, 2013<br />
<br />
=== Terracoin (TRC) ===<br />
* http://terracoin.org/<br />
* blocks every '''2 minutes'''<br />
* coin supply* '''42 million''' coins will be available<br />
* difficulty adjustment '''30 blocks'''<br />
* hashing algorithm '''SHA-256'''<br />
* Reward '''20''' coins per block<br />
--><br />
==See Also==<br />
* [http://bitcointalk.org/index.php?topic=134179.0 List of alternative chains]<br />
==References==<br />
<references/><br />
[[Category:Alternative cryptocurrencies]]</div>Volkahttps://en.bitcoin.it/w/index.php?title=CryptoNote&diff=46793CryptoNote2014-04-25T12:20:30Z<p>Volka: /* Double-spending proof */</p>
<hr />
<div>CryptoNote is an open-source technology that allows creation of completely anonymous CPU-based cryptocurrencies. It proposes concepts and features, which haven't become mainstream in the altcoins yet. The only known digital currency to be based on CryptoNote is [[Bytecoin|Bytecoin [BCN]]].<br />
<br />
== Features == <br />
<br />
=== Untraceable payments ===<br />
<br />
Unlike traditional cryptocurrencies that mostly use unambiguous signatures to verify the transfer, CryptoNote utilizes ring signature. Ring signature is a more sophisticated scheme, which in fact may demand several different public keys for verification. In this case the transaction is signed by a group of users. Thus, the verifier may only identify that one of them was a signer, but not who exactly that was. The public key of a user may appear in a large number of ring signatures even if it was already used to sign her own transaction.<br />
<br />
=== Unlinkable transactions ===<br />
<br />
CryptoNote automatically creates multiple unique one-time addresses for each of the payments, which are created from the single public key. Even though the payment is sent to a public address, in the block chain it appears as if sent to a one-time address.<br />
<br />
The sender uses randam data and the public address of the receiver to calculate this one-time key of the payment. The redemption of the funds requires the receiver's private key, so only the latter may receive the money sent to the one-time address. Moreover, no third party can discover the link between the one-time key and the receiver's public address.<br />
<br />
=== Double-spending proof ===<br />
<br />
In spite of being anonymous, CryptoNote's ring signatures restrict the double-spending attempt by linking the transactions with the same private key. The protocol uses the key image, derived from a private key through a one-way function. All the users keep the list of all the used key images, which are checked against a new transaction. In case there is a duplicate key image, the transaction is rejected as a double-spending attempt. However, the identity of the sender would still be unknown, since it is impossible to get the private key from its image.<br />
All users keep the list of the used key images (compared with the history of all valid transactions it requires an insignificant amount of storage) and immediately reject any new ring signature with a duplicate key image. It will not identify the misbehaving user, but it does prevent any double-spending attempts, caused by malicious intentions or software errors.<br />
<br />
=== Block chain analysis resistance === <br />
<br />
CryptoNote creates an obstacle for an analyst by using ring signatures and one-time addresses covered above. Every address of the payment is a unique one-time key, which is created from both the sender's and the receiver's data, and the usage of ring signature hides the exact outputs that have been spent for the input. Therefore, each next transaction increases the number of possible senders and hides the actual connection even more.<br />
<br />
=== Adaptive limits === <br />
<br />
There are no hard constants and magic numbers in CryptoNote. Each limit (e.g., max block size, or min fee amount) is re-calculated based on the historical data of the system. Moreover, the difficulty and the max block size are automatically adjusted with each new block.<br />
<br />
=== Smooth emission ===<br />
<br />
The coins are emitted smoothly, as the reward changes with each new block. This allows a predictable steady growth of money supply determined by the formula<ref>hhttps://cryptonote.org/inside.php#smooth-emission</ref>:<br />
<br />
BaseReward = (MSupply - A) >> 18<br />
MSupply = 2^64 - 1 (atomic units)<br />
<br />
=== Egalitarian proof of work ===<br />
<br />
CryptoNote uses [[CryptoNight]] hashing algorithm as its proof-of-work. Its main feature is that it is suitable only for the ordinary PCs, since CryptoNight utilizes built-in CPU instructions, which are too expensive to implement in the special purpose devices. Therefore, unlike Bitcoin, it allows preserving the equality among various users and prohibits centralization of the network in the hands of several miners.<br />
<br />
== Origins ==<br />
<br />
Little is known about CryptoNote's origins. The official website uses supposedly fake names for the team members, while the white paper's author is Nicolas van Saberhagen, which is also likely to be a pseudonym. The white paper "CryptoNote v 2.0" is dated back to October 2013<ref>https://cryptonote.org/whitepaper.pdf</ref>.<br />
<br />
The developers have mentioned at CryptoNote's official forum that the team actually consists of cryptographers, developers, and economists, but their identities have to be concealed currently<ref>https://forum.cryptonote.org/viewtopic.php?f=3&t=21#p61</ref>. It was also mentioned that CryptoNote's team and Bytecoin's team have been developing the technology and the currency in a cooperation, but separated soon after the launch<ref>https://forum.cryptonote.org/viewtopic.php?f=3&t=21#p73</ref>. <br />
<br />
CryptoNote has have been under development for some time before Bytecoin's launch on the clearnet in March 2014, but there is no evidence of the exact years of R&D. CryptoNote's website mentions "2011—2014" in the footer.<br />
<br />
== Implementation ==<br />
<br />
The first alternate currency to be based on CryptoNote is [[Bytecoin]]. CryptoNote forum has a separate branch for those who would like to implement the protocol in another altcoin<ref>https://forum.cryptonote.org/viewtopic.php?f=6&t=7</ref>. However, the reference code is still Bytecoin<ref>https://forum.cryptonote.org/viewtopic.php?f=6&t=6#p8</ref>.<br />
<br />
== See also ==<br />
<br />
* [[Bytecoin]]<br />
* [[CryptoNight]]<br />
<br />
== External links ===<br />
<br />
* [https://cryptonote.org CryptoNote website]<br />
* [https://forum.cryptonote.org Official forum]<br />
* [https://github.com/amjuarez/bytecoin Reference code]<br />
* [https://cryptonote.org/whitepaper.pdf White paper]<br />
<br />
== References ==<br />
<br />
<references/><br />
<br />
[[Category:Alternative cryptocurrencies]]<br />
[[Category:Digital currencies]]<br />
[[Category:Anonymity]]</div>Volkahttps://en.bitcoin.it/w/index.php?title=CryptoNote&diff=46792CryptoNote2014-04-25T12:16:35Z<p>Volka: /* Untraceable payments */</p>
<hr />
<div>CryptoNote is an open-source technology that allows creation of completely anonymous CPU-based cryptocurrencies. It proposes concepts and features, which haven't become mainstream in the altcoins yet. The only known digital currency to be based on CryptoNote is [[Bytecoin|Bytecoin [BCN]]].<br />
<br />
== Features == <br />
<br />
=== Untraceable payments ===<br />
<br />
Unlike traditional cryptocurrencies that mostly use unambiguous signatures to verify the transfer, CryptoNote utilizes ring signature. Ring signature is a more sophisticated scheme, which in fact may demand several different public keys for verification. In this case the transaction is signed by a group of users. Thus, the verifier may only identify that one of them was a signer, but not who exactly that was. The public key of a user may appear in a large number of ring signatures even if it was already used to sign her own transaction.<br />
<br />
=== Unlinkable transactions ===<br />
<br />
CryptoNote automatically creates multiple unique one-time addresses for each of the payments, which are created from the single public key. Even though the payment is sent to a public address, in the block chain it appears as if sent to a one-time address.<br />
<br />
The sender uses randam data and the public address of the receiver to calculate this one-time key of the payment. The redemption of the funds requires the receiver's private key, so only the latter may receive the money sent to the one-time address. Moreover, no third party can discover the link between the one-time key and the receiver's public address.<br />
<br />
=== Double-spending proof ===<br />
<br />
In spite of being anonymous, CryptoNote's ring signatures restrict the double-spending attempt by linking the transactions with the same private key. The protocol uses the key image, derived from a private key through a one-way function. All the users keep the list of all the used key images, which are checked against a new transaction. In case there is a duplicate key image, the transaction is rejected as a double-spending attempt. However, the identity of the sender would still be unknown, since it is impossible to get the private key from its image.<br />
<br />
=== Block chain analysis resistance === <br />
<br />
CryptoNote creates an obstacle for an analyst by using ring signatures and one-time addresses covered above. Every address of the payment is a unique one-time key, which is created from both the sender's and the receiver's data, and the usage of ring signature hides the exact outputs that have been spent for the input. Therefore, each next transaction increases the number of possible senders and hides the actual connection even more.<br />
<br />
=== Adaptive limits === <br />
<br />
There are no hard constants and magic numbers in CryptoNote. Each limit (e.g., max block size, or min fee amount) is re-calculated based on the historical data of the system. Moreover, the difficulty and the max block size are automatically adjusted with each new block.<br />
<br />
=== Smooth emission ===<br />
<br />
The coins are emitted smoothly, as the reward changes with each new block. This allows a predictable steady growth of money supply determined by the formula<ref>hhttps://cryptonote.org/inside.php#smooth-emission</ref>:<br />
<br />
BaseReward = (MSupply - A) >> 18<br />
MSupply = 2^64 - 1 (atomic units)<br />
<br />
=== Egalitarian proof of work ===<br />
<br />
CryptoNote uses [[CryptoNight]] hashing algorithm as its proof-of-work. Its main feature is that it is suitable only for the ordinary PCs, since CryptoNight utilizes built-in CPU instructions, which are too expensive to implement in the special purpose devices. Therefore, unlike Bitcoin, it allows preserving the equality among various users and prohibits centralization of the network in the hands of several miners.<br />
<br />
== Origins ==<br />
<br />
Little is known about CryptoNote's origins. The official website uses supposedly fake names for the team members, while the white paper's author is Nicolas van Saberhagen, which is also likely to be a pseudonym. The white paper "CryptoNote v 2.0" is dated back to October 2013<ref>https://cryptonote.org/whitepaper.pdf</ref>.<br />
<br />
The developers have mentioned at CryptoNote's official forum that the team actually consists of cryptographers, developers, and economists, but their identities have to be concealed currently<ref>https://forum.cryptonote.org/viewtopic.php?f=3&t=21#p61</ref>. It was also mentioned that CryptoNote's team and Bytecoin's team have been developing the technology and the currency in a cooperation, but separated soon after the launch<ref>https://forum.cryptonote.org/viewtopic.php?f=3&t=21#p73</ref>. <br />
<br />
CryptoNote has have been under development for some time before Bytecoin's launch on the clearnet in March 2014, but there is no evidence of the exact years of R&D. CryptoNote's website mentions "2011—2014" in the footer.<br />
<br />
== Implementation ==<br />
<br />
The first alternate currency to be based on CryptoNote is [[Bytecoin]]. CryptoNote forum has a separate branch for those who would like to implement the protocol in another altcoin<ref>https://forum.cryptonote.org/viewtopic.php?f=6&t=7</ref>. However, the reference code is still Bytecoin<ref>https://forum.cryptonote.org/viewtopic.php?f=6&t=6#p8</ref>.<br />
<br />
== See also ==<br />
<br />
* [[Bytecoin]]<br />
* [[CryptoNight]]<br />
<br />
== External links ===<br />
<br />
* [https://cryptonote.org CryptoNote website]<br />
* [https://forum.cryptonote.org Official forum]<br />
* [https://github.com/amjuarez/bytecoin Reference code]<br />
* [https://cryptonote.org/whitepaper.pdf White paper]<br />
<br />
== References ==<br />
<br />
<references/><br />
<br />
[[Category:Alternative cryptocurrencies]]<br />
[[Category:Digital currencies]]<br />
[[Category:Anonymity]]</div>Volkahttps://en.bitcoin.it/w/index.php?title=CryptoNight&diff=46584CryptoNight2014-04-18T12:24:23Z<p>Volka: </p>
<hr />
<div>CryptoNight is the proof-of-work algorithm used in [[CryptoNote]] and [[Bytecoin|Bytecoin (BCN)]]. It is designed to be egalitarian, being suitable for ordinary PC CPUs, but not the special purpose devices for mining. Therefore, the currencies based on CryptoNight are CPU-mined only.<br />
<br />
== Principles ==<br />
<br />
CryptoNight relies on random access to the slow memory and emphasizes latency dependence. Each new block depends on all the previous blocks (unlike, for example, [[scrypt proof of work|scrypt]]). The algorithm requires about 2 Mb per instance:<br />
<br />
# It fits in the L3 cache (per core) of modern processors.<br />
# A megabyte of internal memory is almost unacceptable for the modern ASICs.<br />
# GPUs may run hundreds of concurrent instances, but they are limited in other ways. GDDR5 memory is slower than the CPU L3 cache and remarkable for its bandwidth, not random access speed.<br />
# Significant expansion of the scratchpad would require an increase in iterations, which in turn implies an overall time increase. "Heavy" calls in a trustless p2p network may lead to serious vulnerabilities, because nodes are obliged to check every new block's proof-of-work. If a node spends a considerable amount of time on each hash evaluation, it can be easily DDoSed by a flood of fake objects with arbitrary work data (nonce values).<br />
<br />
<br />
== See Also ==<br />
<br />
* [[Bytecoin]]<br />
* [[CryptoNote]]<br />
<br />
== External Links ==<br />
<br />
* [https://cryptonote.org/inside.php#equal-proof-of-work CryptoNight on CryptoNote's website]<br />
<br />
<br />
<br />
[[Category:Alternative cryptocurrencies]]<br />
[[Category:Digital currencies]]<br />
[[Category:Technical]]</div>Volkahttps://en.bitcoin.it/w/index.php?title=CryptoNight&diff=46582CryptoNight2014-04-18T12:23:00Z<p>Volka: </p>
<hr />
<div>CryptoNight is the proof-of-work algorithm used in [[CryptoNote]] and [[Bytecoin|Bytecoin (BCN)]]. It is designed to be egalitarian, being suitable for ordinary PC CPUs, but not the special purpose devices for mining. Therefore, the currencies based on CryptoNight are CPU-mined only.<br />
<br />
== Principles ==<br />
<br />
CryptoNight relies on random access to the slow memory and emphasizes latency dependence. Each new block depends on all the previous blocks (unlike, for example, [[scrypt proof of work|scrypt]]). The algorithm requires about 2 Mb per instance:<br />
<br />
# It fits in the L3 cache (per core) of modern processors.<br />
# A megabyte of internal memory is almost unacceptable for the modern ASICs.<br />
# GPUs may run hundreds of concurrent instances, but they are limited in other ways. GDDR5 memory is slower than the CPU L3 cache and remarkable for its bandwidth, not random access speed.<br />
# Significant expansion of the scratchpad would require an increase in iterations, which in turn implies an overall time increase. "Heavy" calls in a trustless p2p network may lead to serious vulnerabilities, because nodes are obliged to check every new block's proof-of-work. If a node spends a considerable amount of time on each hash evaluation, it can be easily DDoSed by a flood of fake objects with arbitrary work data (nonce values).<br />
<br />
<br />
== See Also ==<br />
<br />
* [[Bytecoin]]<br />
* [[CryptoNote]]<br />
<br />
== External Links ==<br />
<br />
* [https://cryptonote.org/inside.php#equal-proof-of-work CryptoNight on CryptoNote's website]<br />
* [https://en.bitcoin.it/wiki/CryptoNight]<br />
<br />
<br />
[[Category:Alternative cryptocurrencies]]<br />
[[Category:Digital currencies]]<br />
[[Category:Technical]]</div>Volka