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Author Topic: [ANN]!!!EnigmaCoin!!! - POW - X13 - No premine - Launched!  (Read 24288 times)
EnigmaCoinTeam
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April 23, 2015, 06:10:45 PM
Last edit: April 30, 2015, 08:44:45 PM by EnigmaCoinTeam
 #1

[EGMA] EnigmaCoin

http://i.imgur.com/Xm0sYtt.png


http://i.imgur.com/2XUa4jt.png


Windows Wallet
Github
BlockExplorer

Exchanges:
BITTREX
YoBit




POOLS:
https://enc.coin-miners.info
https://enc.suprnova.cc


EnigmaCoin.conf
Code:
port = 11993
rpcport = 11992
addnode = 178.32.53.123

Initially I was seeking an investment of at least 50 BTC's for development efforts for this coin and tried to organize ICO fundraiser. However due to the lack of interest ICO was scraped. I have managed to find enough time to develop the coin and therefore do not require additional funding. So instead of an ICO this coin will be distributed via standard POW.

http://i.imgur.com/9Wc46WS.png

Name: EnigmaCoin
Ticker: [EGMA]
POW+POS (X13)
Block reward: 100 [EGMA] (Block 1-100 - reward 1 ENC)
Distribution: POW+POS
Money Supply: 1,000,000 [EGMA]
POS starts at 7,000 blocks
POW ends at block height: 10,000
Total POW coins ~ 850,000
Block time: 60 seconds
POS interest: 5% per year


http://i.imgur.com/sr3regC.png

Download PDF

http://i.imgur.com/n6icY5S.png

Anonymity

How is your coin balance being tracked and what blockchain properties are responsible for this?

As you all know one can always check coins balance directly from the blockchain using block explorer. In most cases, users prefer to use single wallet address multiple times - to receive money from other users, from pools etc. In theory you could, of course generate a brand new address for each transaction, however this is not particularly convenient. Imagine how it would be if you had to update your payout address in your pool settings every time you want to get your coins out there.
Besides that, using multiple addresses may bring a lot of confusion when your coins are all spread between different addresses and you need to execute single big transaction. For example, you need to pay someone 100 coins and you have 120 coins evenly spread between 3 different addresses. Now your simple 100 coins transaction will require to create at least 4 different transactions: 3 transactions of 40 coins and one return transaction with change.

http://i.imgur.com/oPnlMUD.png

Anyone who happens to throw a glance on the blockchain after your transaction will clearly see that all three address obviously belong to a single person, and how much money this person have. With pretty simple observation anyone can track and analyze blockchain to see major coin holders and accurately estimate your coin balance no matter of how much work you put in mixing your coins between your addresses.

How to change this?

To better understand the idea lets look at the simple example of how the new address generation and further address usage occurs:

At first private key "A" is being generated. Basically "A" is simply a big and random number.
After that your public key "B" is being calculated from your private key using a hash function. An algorithm that creates "B" from "A" is irreversible, which means that even if everyone knows your public key "B", there is no way to find out what was original "A" that gave birth to it. That "B"  will be transformed to "C" in order to represent it as a familiar 34 digit string that will be from now on used as your wallet address. You will give your "C" key (address) to everyone to receive your coins. Your secret "A" key will stay unused until you will need to send some coins to other users. At this point it will be used as a signature that tells everyone that your transaction is in fact valid.  
The simple logic of address generation will now look like that:
http://i.imgur.com/0qYnEEM.png
What happens if another variable is introduced between A and B? It is known that A - is a random number. Imagine that instead of directly calculating B from A an interim Z variable is introduced. Z will be calculated using the irreversible function from A as was previously B. Now from Z multiple B arguments can be generated (all Bs will now be generated from Z instead of A). In order to receive a transaction you will provide your "Z" address instead of your "B", and every time a transaction to you is originated your counterpart will generate new "B" address for every transaction. This it equivalent to generating new wallet address every single time someone sends you a transaction.
When you need to originate a transaction - any of newly generated B arguments will be used and signed by your private key "A" (not Z). Therefore the new logic will look like this:
http://i.imgur.com/ViTpOGm.png
Using this simple change in logic, common analyses of blockchain will become almost impossible. Because blockchain doesn't know of the existence of "Z" and all new Bs are generated every time you receive coins.

However there is still a possibility to analyze the blockchain!

That's correct. And there is a way make it impossible. The only thing that gives away that several wallets belong to a single person is a transactions with multiple inputs. Let's get back to our previous example where you had 3 wallets with 40 coins in each one of them. Suppose you would like to transfer 100 coins to the recipient. To do that, the recipient gives you her Z address. Knowing her Z you will generate 3 different Bs (B1, B2, and B3). Then you will go ahead and create 3 separate transactions. The first and the second transactions will be one-way transactions of 40 coins. For the third transaction the current logic is to send 40 coins and receive 20 coins in change from the recipient. However, instead of doing this you would receive the change to a unique wallet that will be generated from your Z by the recipient - therefore in the blockchain it will be impossible to deduce that all of your wallets are connected.

http://i.imgur.com/rxtjgX8.png

What are the real benefits?

Obfuscation of blockchain analysis is achieved and it provides another tool in the box for the path toward true anonymity. By no means this approach provides the ultimate solution for the anonymity and it should be coupled with other available solutions.
 
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Shadow_Runner
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April 23, 2015, 06:11:03 PM
 #2

Anonymity from launch?
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April 23, 2015, 06:11:35 PM
 #3

I thought I remembered this from awhile back.

Will point my x13 at it for awhile. Good luck!

twitter.com/notsofast
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April 23, 2015, 06:12:48 PM
 #4

Okay!
You going to be setting up a pool for this OC? I hope so because I want IN!!!! lol

 

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............NoobKidOnThe.BLOCK.....
 
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April 23, 2015, 06:14:17 PM
 #5

Anonymity is over rated, its been done before  Huh

Soooooooon...............
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April 23, 2015, 06:14:28 PM
Last edit: April 23, 2015, 06:28:35 PM by scorpio25
 #6

OK .....

https://enc.coin-miners.info/ is open for pre-reg , dev pls add to the op

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April 23, 2015, 06:14:54 PM
 #7

Shadow and OC are here , so lets get the fun Smiley
EDIT: Actually the countdown can't preview..
EnigmaCoinTeam
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April 23, 2015, 06:18:46 PM
 #8

Algo is X13. Lately new coins are mostly with scrypt or sha-256. What do you guys think of the benefits? My take was given that POW phase is relatively short there is no need to use scrypt or sha-256
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April 23, 2015, 06:23:49 PM
 #9

Algo is X13. Lately new coins are mostly with scrypt or sha-256. What do you guys think of the benefits? My take was given that POW phase is relatively short there is no need to use scrypt or sha-256
I think it's a nice change of pace for sure because it seemed there for a while that all coins being released were either Scrypt or SHA-256 so I'm down for this adventure Smiley

 

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EnigmaCoinTeam
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April 23, 2015, 06:32:03 PM
 #10

I have added the countdown link. For some reason .gif countdown is not displaying properly. The launch is at 21:00 GMT+1 (London time)
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April 23, 2015, 06:34:18 PM
 #11

Nice, good to see you guys decided to fall back from stupid ICO. Will mine!
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April 23, 2015, 06:39:29 PM
 #12

ocminer, if you are doing this, can you post a pool link please?

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Want a set and forget cpu and/or gpu mining app? Easier and better than Nicehasminer Try https://honeyminer.com/referred/58rie
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  ✵ Super FAST block times      ✵ Block Explorer right in the wallet!     ✵ Stealth Addresses     ✵ PoW/PoS hybrid  
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Ancient Money
for a New World
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Join the conversation!
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TWITTER


kondiomir
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April 23, 2015, 06:39:36 PM
 #13

Shadow and OC are here , so lets get the fun Smiley
EDIT: Actually the countdown can't preview..

Glad to see you on board my friend. Smiley
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April 23, 2015, 06:51:11 PM
 #14

Shadow and OC are here , so lets get the fun Smiley
EDIT: Actually the countdown can't preview..

Glad to see you on board my friend. Smiley
Always pleasure to see you around too Smiley
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April 23, 2015, 06:58:22 PM
 #15

1 hours countdown and no pool Sad
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April 23, 2015, 07:03:28 PM
 #16

Pass. no cheap x13 to be had and i am not getting into a nicehash war with you guys Tongue

I like tacos!
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April 23, 2015, 07:05:42 PM
 #17

Pass. no cheap x13 to be had and i am not getting into a nicehash war with you guys Tongue

It was fun to see NH go mental at BT launch earlier today Cheesy
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April 23, 2015, 07:08:06 PM
 #18

1 hours countdown and no pool Sad


one already has, https://enc.coin-miners.info,

right now suprnova.cc
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April 23, 2015, 07:13:38 PM
 #19

Please add

https://enc.suprnova.cc

to the list of pools. See you in about 45 mins

suprnova pools - reliable mining pools - #suprnova on freenet
https://www.suprnova.cc - FOLLOW us @ Twitter ! twitter.com/SuprnovaPools
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April 23, 2015, 07:18:24 PM
 #20

Whitepaper actually makes sense. I'm kinda surprised ICO never took off - it should have.
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