BITHUMAN (
BTH) is a cryptocurrency started on August 5, 2017. BitHuman is not a fork Bitcoin and uses the unique algorithm CryptoNight.
Based on CryptoNote technology |
https://cryptonote.org/
SourceCode: 05/08/2017
Linux Gui Wallet: 05/08/2017
Linux Command Line: 05/08/2017
Windows: not available, but you can build.
iOS: not available, but you can build.
Solo Mining: available
Mining Pool: not available for the moment
Exchange: not available for the moment
SpecificationsAlgorithm: CryptoNight
Block time: 120 seconds (2 minutes)
Difficulty retargets each block
Block reward decreases each block according to the formula: BaseReward = (MSupply - A)/218, where MSupply = (264 - 1) atomic units and 'A' is amount of already generated coins
One coin is divisible down to 8 decimal places (divisible up to 108)
Total coins: 18 446 744 073 709 551 616 atomic units (= 184.46 billion BTH)
Roughly 90% mined in 5 yearsPremined: 1% to improve the currency
Features True anonymity & data protection
Untraceable payments use ring signature
Unlinkable transactions with random data by the sender
Blockchain analysis resistant
Only CPU-mining & ASIC-resistant
POW mechanism is a voting system for users
What is CryptoNote?CryptoNote is an application layer protocol that powers several decentralized privacy oriented digital currencies. Conceptually, it is an evolution of ideas behind bitcoin: both are similar in some ways yet different in many others.
The main difference between the two technologies is that bitcoin (and most digital currencies) is less opaque than CryptoNote-based currencies due to the latter's blockchain being almost anonymous, contrary to non-Cryptonote blockchains.CryptoNote currencies use a distributed public ledger that records all balances and transactions of its in-built currency like bitcoin. Unlike bitcoin, CryptoNote's transactions cannot be followed through the blockchain in a way that reveals who sent or received coins. The approximate amount of a transaction can be known, but the origin, destination, or actual amount cannot be learned. The only information available is that the actual amount was lower than the displayed amount. The only people with access to the whole set of data about a transaction are the sender or receiver of the transaction and the person who possesses one or both secret keys.
Another significant difference is hash-based proof-of-work algorithm. Bitcoin uses SHA256, which is CPU-bound function. That means that participants (miners) are only limited by their calculation speeds, and it is relatively cheap to create an application-specific integrated circuit (ASIC) device, which will surpass an ordinary computer in hashes per unit of money.[5] CryptoNote uses memory bound function CryptoNight, which cannot be easily pipelined.
CryptoNote code was not forked from bitcoin's, so it also has other different inner algorithms, like recalculating new difficulty level or new block size.
Untraceable paymentsCryptoNote provides users with a completely anonymous payment scheme. CryptoNote implements the ring signature technology which allows you to sign a message on behalf of a group. The signature only proves the message was created by someone from the group, but all the possible signers are indistinguishable from each other.
Unlinkable transactionsEven if outgoing transactions are untraceable, everyone may still be able to see the payments you have received and thus determine your income. However, by using a variation of the Diffie-Hellman exchange protocol, a receiver has multiple unique one-time addresses derived from his single public key. After funds are sent to these addresses they can only be redeemed by the receiver; and it would be impossible to cross-link these payments.
Double-spending proofNobody is able to spend the same money twice — even if all his signatures are anonymous. Every signature contains a key image — a kind of fingerprint of the secret key. It is based on a one-way cryptographic function; this implies that given only the key image it is impossible to restore the corresponding secret key. These key images are used to prevent double-spending.
Blockchain analysisresistanceNon-repeating one-time addresses and mixed keys in ring signatures make the whole blockchain resistant to analysis. Each future transaction will only increase the entropy and create additional obstacles for an analyst.
Egalitarian proof of workThe proof of work mechanism acts as a voting system. Thus, it is crucial that during the voting process all the participants have equal voting privileges. CryptoNote brings this equality with its egalitarian proof of work, utilizing built-in CPU instructions, which are very hard and too expensive to implement in special purpose devices, but perfectly suitable for ordinary PCs.
Adaptive parametersA decentralized payment system must not depend on a single person's decisions, even if this person is a developer. CryptoNote has no hard-coded constants; magic numbers in the code are designed to be re-calculated based on the previous state of the network. Thus, they always change adaptively and independently, allowing the network to develop on its own.
Ring signatures are explained below. Reproduced from CryptoNote:A normal signature looks like this. There's only one participant, which allows one-to-one mapping.
A ring signature obscures identities because it only proves that a signer belongs to a group.
This allows a high level of anonymity in cryptocurrency transactions. You can think of it as decentralized and trustless mixing.
