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Monthly Archives: November 2014

CryptoNote – A Closer Look

Introducing CryptoNote Most of us who are following the current trends in digital currencies are also well aware of the technologies that underpin them. It wouldn’t be an overstatement to call the anonymous transactions a very important feature for the coins putting the utmost emphasis on user privacy. Many words have been said about ZeroCash, CoinJoin and its implementations (e.g. DarkCoin), and other mixing services however there’s one more technology that is worth looking into. The appearance of CryptoNote protocol has made quite a splash within the crypto community. Shortly after the first CN based currencies hit the market the enthusiasm reached the point where some inspired users proclaimed this privacy tool the best thing since sliced bread. So what exactly is CryptoNote and what makes it so special? “An open-source technology and concepts for the cryptocurrencies of the future” What is CryptoNote? CryptoNote is an open-source protocol that allows for enhanced privacy in cryptocurrency transactions. Unlike traditional cryptocurrencies that use ordinary signatures to verify the transfer, CryptoNote utilizes ring signature. With ring signatures all the parties involved in a transaction are undistinguishable and there is no way to determine whose private key was used in the process of signing. …

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Acoin – Press Release 31/10/14

Acoin wants to bring cryptocurrency back to the basics Bitcoin has revolutionized money in the same way the internet has revolutionized communication. It gave us power over our financial destiny and the power to protect ourselves from the consequences of endless money printing and the power of governments and banks over our lives and well-being. But what Bitcoin also brought us was a seemingly never ending “arms race” to mine the coin. What was designed as a currency that could be well sustained for decades with just a few connected laptops has unleashed a billion dollar mining industry in which increasingly expensive mining rigs become obsolete after just 6 months or less. Energy bills for miners are also increasing exponentially. Mining has become the major focus of the Bitcoin industry and the original purpose and true beauty of the Bitcoin system has seemingly almost been forgotten. When a new coin is developed, the first question generally is: ” What do I need to mine it? How much money do I make mining the coin?” It is time that we think of cryptocurrency as a way out of financial slavery, not to become a slave the the mining process. How many …

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