Hazy
Anonymous string generated payments and paper transactions
Abstract
As cryptocurrency evolves, it is becoming apparent that cryptocurrencies are pseudonymous, meaning that anyone could have any address. This may be useful for transparent transactions, however, the need for something more private is inevitable. New regulation laws are now in place for a more centralized cryptocurrency instead of decentralized. Monero, a project that aimed for privacy, has tried to accomplish this using signatures, but the result is just a 'harder' to trace coin instead of true anonymity.
This is where Hazy comes in. Hazy is a revolutionary new coin that supports true privacy. There are no transaction records on the Blockchain – just addresses. This is the world of Hazy.
How does it work
Hazy accomplishes true anonymity by using traditional Bitcoin address generation methods but with another factor set in place. There are no more transaction broadcasts. The only transactions available are via string generated payments or paper transactions. A 20 digit string, consisting of letters and numbers such as ZbtXKRaMKM91HvqX04yA will be generated by the sender (sending any amount of coin). This string will only be valid for one block. During that 10 minutes, the sender can write this string down, print it out, or send it via text in PGP form. The receiver then 'redeems' this string, and the amount transacted is put into the account. The Blockchain only records the strings generated and redeemed by each address, meaning no one knows how much is being transacted where.
It is recommended that transactions that are printed or written be burned right after the transaction has completed to ensure maximum privacy.
Blockchain Analysis
There is no way of using blockchain analysis on Hazy other than coordinated times. To ensure there is no Blockchain analysis, every address will generate and redeem 0 Hazy automatically on each Block. Because no one can see the amount of Hazy in each generation and redemption, there is not tracing.
It is suggested that you set your client to generate the transaction on a new block, and always redeem on a new block so there is no chance of Blockchain Analysis.
Roadmap
Create a client-side web-wallet (opensource) by the end of 2017
List the Hazy coins on various exchanges by the end of 2017
Launch an official block explorer by the end of 2017
Main Developers
Our team consists of 2 individuals: Matthew Ellsworth and James Hudgins
Matthew Ellsworth
Matthew, 29, is a passionate privacy centric person who opposes government surveillance and the intrusion of privacy. He has graduated with a double degree in Law and a Masters in Computer Science in the University of North Dakota. He has been working with cryptocurrencies since Bitcoin's inception and has sound understanding on Blockchain analysis techniques.
James Hudgins
James, 27, is a talented developer, coder, and software engineer that has degrees in advanced computing and software in New York University.
Initial Coin Offering
The Initial Coin Offering will offer 1,000,000 Hazy out of the 25 million supply. The Initial Coin Offering will sell the coins at 1,000 per Ethereum on the first week, 500 per Ethereum on the second week, and 250 per Ethereum on the final week.
The Initial Coin Offering lasts for 21 days – starting from the 26/07/2017 10am GMT until 16/08/2017 10am GMT.
The address is:
0x082f1b78b7F9C35A6b1038BeD4f116551EB304A4
The tokens will be expected to be listed on EtherDelta 2 days after the Initial Coin Offering finishes.
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