Re: [ANN][DRK] DarkCoin | First Anonymous Coin | First X11 | First DGW | Fork for Masternode Payment
Quote
DarkSend+
Over the last week or two, Darksend+ has made some significant advances. Were happy to say that were closing in on a finished product.
We've opted to employ a strategy for Darksend+ that is slightly different than the one we outlined in our last update. This new strategy has several advantages, and we think it is a significant improvement over the previous iteration in terms of both privacy and efficiency. The Darkcoin client will now store pre-mixed, denominated Darkcoins in the users wallet, to be used instantly at any time the user desires. The mixing and denomination process is seamless, automatic, and requires no intervention on the part of the user. The 10 DRK limit previously in place with Darksend v1 will be permanently removed. With RC4, the amount that users can send via Darksend+ is limited only by the available balance in their wallet.
Here's how it works:
Every 10 blocks, user clients network-wide will send any unmixed, traceable Darkcoins in their possession through an anonymization phase. In this phase, Masternodes are used in chained succession to mix the coins they receive from the network and break them down into homogenous denominations. After being processed by a minimum of 2 Masternodes, the coins are either sent to the next Masternode in the chain or back to the users wallet at randomly generated change addresses.
Depending on the desired depth of security and privacy, users may select between 2 and 8 hops to successive Masternodes before their coins are sent back to the client. Hops are made every 10 blocks, so anonymization at a depth of 2 hops will take 10*2*2.5=50 minutes, 3 hops 10*3*2.5=75 minutes, and so on. The desired mixing depth can be selected in the client GUI.
At the end of the anonymization phase, the users coins are returned to their client at randomly generated change addresses. When the user wishes to make a transaction, the client forwards the intended amount from these anonymous change addresses directly to the intended receivers address. There is no direct involvement of of Masternodes in the final person-to-person transaction.
Proof of payment will work as it always has: a user can see the send transaction with the receivers address in their own wallet, and the blockchain will show that the receivers address received an input in the corresponding amount.
Over the last week or two, Darksend+ has made some significant advances. Were happy to say that were closing in on a finished product.
We've opted to employ a strategy for Darksend+ that is slightly different than the one we outlined in our last update. This new strategy has several advantages, and we think it is a significant improvement over the previous iteration in terms of both privacy and efficiency. The Darkcoin client will now store pre-mixed, denominated Darkcoins in the users wallet, to be used instantly at any time the user desires. The mixing and denomination process is seamless, automatic, and requires no intervention on the part of the user. The 10 DRK limit previously in place with Darksend v1 will be permanently removed. With RC4, the amount that users can send via Darksend+ is limited only by the available balance in their wallet.
Here's how it works:
Every 10 blocks, user clients network-wide will send any unmixed, traceable Darkcoins in their possession through an anonymization phase. In this phase, Masternodes are used in chained succession to mix the coins they receive from the network and break them down into homogenous denominations. After being processed by a minimum of 2 Masternodes, the coins are either sent to the next Masternode in the chain or back to the users wallet at randomly generated change addresses.
Depending on the desired depth of security and privacy, users may select between 2 and 8 hops to successive Masternodes before their coins are sent back to the client. Hops are made every 10 blocks, so anonymization at a depth of 2 hops will take 10*2*2.5=50 minutes, 3 hops 10*3*2.5=75 minutes, and so on. The desired mixing depth can be selected in the client GUI.
At the end of the anonymization phase, the users coins are returned to their client at randomly generated change addresses. When the user wishes to make a transaction, the client forwards the intended amount from these anonymous change addresses directly to the intended receivers address. There is no direct involvement of of Masternodes in the final person-to-person transaction.
Proof of payment will work as it always has: a user can see the send transaction with the receivers address in their own wallet, and the blockchain will show that the receivers address received an input in the corresponding amount.
PLUS
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Darkcoin suffers from a bad methodology to achieve anonymity and it's put everything into this one basket.
Sorry to hear you lost faith in the project. Also, sorry you're going to be getting out at a horrible time (right before I announce I have EVERYTHING figured out to make Darkcoin mainstream?).
Over the past couple of days, I've made huge leaps in the Darksend technology. In fact, RC4 will be the final solution to Darkcoin's anonymity. The client will automatically look at all of your funds and it will be able to tell which funds are not anonymized, if it finds non-anonymous outputs it will run them through a darksend with other clients. After that process, users can send without Darksend using the anonymous outputs for instant transactions without waiting for other nodes (with no upper limit on transaction sizes).
The other thing you're missing is that there is a reason I forked Bitcoin. Adoption for Darkcoin will be MUCH faster and easier for vendors, because all of the APIs are the same.
Expect more news in a few days. I have lots of work to do, but soon we can start testing all of this new functionality.
very nice reminder, thanks for that El Presidente