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Author Topic: [PRE-ANN] AZERIUM - DAG based anonymous Coin and Exchange  (Read 2993 times)
abdullahzaib (OP)
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January 08, 2018, 12:23:03 AM
Last edit: February 22, 2018, 09:06:52 PM by abdullahzaib
 #1


Introduction

Azerium is the first highly scalable decentralized DAG based cryptocurrency with location and identifier anonymity, no-fee instant transactions, upto 100,000 transactions per second and an option to refund/chargeback within a time window using binding contracts. Azerium is mainly inspired by Raiblocks and Byteballs. It targets to provide necessary tools for businesses to adopt it faster. Azerium will have a native exchange with an option to support for various accounting rules (for example, help users comply with IRS rule 1031) and be one stop shop for everything related to cryptocurrencies.


Team

We are a team of passionate and dedicated developers, focusing on bringing the best of cryptography to this project and provide an unparalleled experience with the currency itself and its exchange.

Abdullah Zaib: https://www.linkedin.com/in/abdullahzaib/
Junaid Malik: https://www.linkedin.com/in/jdmalik/
Karan Anand: https://www.linkedin.com/in/anandkaran/
Pavan Kompelli https://www.linkedin.com/in/pavan-kompelli-576aa6/ 
Hadeel Elbitar: https://www.linkedin.com/in/hadeel-elbitar-28976a15/

The goal of this pre-announcement is to gather community feedback and find people with the same interest who are as passionate as ourselves in achieving this common objective. We have been exploring deep into crypto domain for more than a year and are working to enhance and develop existing technologies to bring together the best of everything.
We have developed a lot of respect for people already working towards improved solutions and moving forward from blockchain. Azerium aims to continue that mission to streamline crypto.

Process Details

At its core, Azerium uses DAG and is inspired mainly by RailBlocks and ByteBall. It provides highly scalable (100,000 tx/s in the start and improves with more nodes), power efficient (suitable for all devices), and instant fee-less (with some PoW) anonymous transactions. All of this is made possible by improving on existing technologies and building new ones.

DAG based Network

The core of Azerium’s network is a chain of transactions blocks per account/wallet. Since the chain is per account, only the account owner can add a new block to it. As part of a transaction, essentially the receiver & sender both add a block to their chain. The proof of such an action is broadcasted to the entire network, so that other nodes can then vote to resolve conflicts (if the need be). This is also why Azerium’s transactions are super fast and reliable. This is further enhanced by worker nodes in the start to have 100,000 tx/s guarantees.

Anonymity

There are many ways to achieve location & machine anonymity (using Tor and I2P). In addition to that, Azerium also offers completely trace-less transactions. This is done by clever use of state of the art hashing techniques. Sender can transfer the resources privately, while posting a hash to the ledger. Since the receiver has been told what the resources were, they can then use it to compute the hash & certify the receipt.

The executive summary of the process to make an untraceable payment is (in depth details followed by the whitepaper),

  • Sender generated the payload corresponding to the resources being transferred
  • A random padding is added to payload (so that hash of payload is not predictable)
  • Transfer the resource privately
  • Add the hash of payload to public DAG (i.e. Azerium’s mesh)
  • Receiver gets resource, computes the hash & confirms that it matches the one which was added to public ledger

Fee-Less Transactions

Each node initiating a transaction gets instant initial confirmation by addition of transaction in local chain, then it confirms N other transactions. N is decided based on weight of the recent transaction and is a bounded value (to have deterministic time). Similar to a tangle, Azerium’s core network is basically a mesh (made up of Dag). A node must only confirm the transactions which it knows are valid. There is mutual benefit of doing this. We can also attach weights to transactions.
Whoever is adding a transaction, is contributing by confirming other transactions thus making the mesh more secure. Consider the following scenario: A node adds a new transaction, which (knowingly or unknowingly) confirms a conflicting transaction. Other devices on the network will also see this, but will not approve this conflicting transaction. Thus the original work which was done, is totally wasted. This is the motivation to either directly or indirectly confirm transactions which are not conflicting.
As the number of confirmations of a particular transaction increase, it is added into the mesh with higher level of confidence. For context, we define weight as the amount of work that the issuing node put into it. This means, to make a transaction more important, nodes need to put more work into it. This also ensures that a node cannot generate transactions that have a really high weight (since they would have to work proportionally more to prove it).

In order to issue a new transaction, the node needs to,

  • Confirm N unconfirmed and non-conflicting transactions
  • Prove that it has put in the required amount of work: This is done similar to how Bitcoin requires the hash to have some pre-determined number of leading zeros

Fast Transactions

The instance confirmation of a transaction comes from the fact that the transaction is added to local chain of a node immediately. The growth in number of nodes in mesh increases confirmation rate of the transactions. Confirmation time depends on the network topology / bandwidth limitation and the number of transactions per second. There is no limit by which the number of transactions are bound or the rate at which they can be confirmed. This results in a massively parallel and super-fast network.

Quantum Proof Model

Each transaction in Azerium must always be accompanied by some proof of work, i.e. is weighted but with a cap. So the main advantage of a heavy computational resource can’t be used to its full extent. There are also measures within the system to prevent a node from generating too many transactions within a short period of time and also avoid race conditions.

Highly Scalable

Azerium supports 100k transactions per second in the start, this will scale out as more nodes contribute to the system. It’s possible with weight balanced verification from worker nodes in the start by Azerium on i2p network. This works with modified zK snark to have deterministic run time and have infinite scalability. The trust-able worker nodes only activate when overall transactions drop by 100k to keep transactions fast and efficient.

Refund/Chargeback

Using cryptocurrencies, there have been instances where one of the parties involved in the transaction turned out to be malicious. This has given cryptocurrencies a bad reputation. Azerium offers fair and reliable instant transactions to address that. With Azerium, merchants and buyers have an option to keep the payments with an escrow until the contractual obligations have been met, this can be set as default by the wallet and is configurable.

Distribution

We strictly believe in fair and transparent distribution and a clean launch. No pre-mined coins for anyone (including the development team). We buy at the same price as the entire community. The project is self funded and we will continue to do so as much as we can.
The details of distribution model are still being worked on, and we welcome the feedback from community to contribute in making the process of distribution fair, transparent and balanced. We also believe marketing is important for mass adoption and will have a finite portion from the distribution.

Closure

This document is a an executive summary and a pre-announcement, and is in active development. We will provide with regular updates as soon as we have more significant details to share.
Please let us know your thoughts. Our main goal is to have this project driven with community’s support . Together we can all strive to make the entire ecosystem better.

Channels to get timely updates,

Telegram: https://t.me/azerium


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January 08, 2018, 12:43:02 AM
 #2

bullshit scammer from stone and zeth,never donate to this guys they here only after donations then disappear a real project will post the announcement at least when the project is almost ready and mature,this guys make a new thread here almost every week with the words DAG,Zsnark,Anonymous,TOR...etc in them to fool newbies,this project is pure fiction just to get the scammer some donation
abdullahzaib (OP)
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January 08, 2018, 12:47:23 AM
 #3

We understand your frustration but we’re NOT asking for donations, just your opinion and support.
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January 08, 2018, 12:52:10 AM
 #4

Fee-Less Transactions
How much does that cost?
abdullahzaib (OP)
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January 08, 2018, 01:01:04 AM
 #5

Fee-Less Transactions
How much does that cost?

Computational cost is static, if you’re asking about transaction fee then that’s zero since the role of authenticator and issuer is the same.
abdullahzaib (OP)
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January 08, 2018, 01:21:15 AM
 #6


Introduction

Azerium is the first highly scalable decentralized DAG based cryptocurrency with location and identifier anonymity, no-fee instant transactions, upto 100,000 transactions per second and an option to refund/chargeback within a time window using binding contracts. Azerium is mainly inspired by Raiblocks and Byteballs. It targets to provide necessary tools for businesses to adopt it faster. Azerium will have a native exchange with an option to support for various accounting rules (for example, help users comply with IRS rule 1031) and be one stop shop for everything related to cryptocurrencies.


Team

We are a team of passionate and dedicated developers, focusing on bringing the best of cryptography to this project and provide an unparalleled experience with the currency itself and its exchange.

Abdullah Zaib: https://www.linkedin.com/in/abdullahzaib/
Ali Siddiqui: https://www.linkedin.com/in/alisiddiqui/
Junaid Malik: https://www.linkedin.com/in/jdmalik/
Karan Anand: https://www.linkedin.com/in/anandkaran/
Pavan Kompelli https://www.linkedin.com/in/pavan-kompelli-576aa6/
Hadeel Elbitar: https://www.linkedin.com/in/hadeel-elbitar-28976a15/


What we can promise

  • A secure, stable, reliable and finished product
  • Dedication to deliver on a timely manner
  • Timely and accurate updates with transparency on progress
  • A professional attitude and consistency

What we can’t promise

  • Inflated prices or absurd profits
  • Hype news
  • Unstable product
  • Orphaned project

The goal of this pre-announcement is to gather community feedback and find people with the same interest who are as passionate as ourselves in achieving this common objective. We have been exploring deep into crypto domain for more than a year and are working to enhance and develop existing technologies to bring together the best of everything.
We have developed a lot of respect for people already working towards improved solutions and moving forward from blockchain. Azerium aims to continue that mission to streamline crypto.

Process Details

At its core, Azerium uses DAG and is inspired mainly by RailBlocks and ByteBall. It provides highly scalable (100,000 tx/s in the start and improves with more nodes), power efficient (suitable for all devices), and instant fee-less (with some PoW) anonymous transactions. All of this is made possible by improving on existing technologies and building new ones.

DAG based Network

The core of Azerium’s network is a chain of transactions blocks per account/wallet. Since the chain is per account, only the account owner can add a new block to it. As part of a transaction, essentially the receiver & sender both add a block to their chain. The proof of such an action is broadcasted to the entire network, so that other nodes can then vote to resolve conflicts (if the need be). This is also why Azerium’s transactions are super fast and reliable. This is further enhanced by worker nodes in the start to have 100,000 tx/s guarantees.

Anonymity

There are many ways to achieve location & machine anonymity (using Tor and I2P). In addition to that, Azerium also offers completely trace-less transactions. This is done by clever use of state of the art hashing techniques. Sender can transfer the resources privately, while posting a hash to the ledger. Since the receiver has been told what the resources were, they can then use it to compute the hash & certify the receipt.

The executive summary of the process to make an untraceable payment is (in depth details followed by the whitepaper),

  • Sender generated the payload corresponding to the resources being transferred
  • A random padding is added to payload (so that hash of payload is not predictable)
  • Transfer the resource privately
  • Add the hash of payload to public DAG (i.e. Azerium’s mesh)
  • Receiver gets resource, computes the hash & confirms that it matches the one which was added to public ledger

Fee-Less Transactions

Each node initiating a transaction gets instant initial confirmation by addition of transaction in local chain, then it confirms N other transactions. N is decided based on weight of the recent transaction and is a bounded value (to have deterministic time). Similar to a tangle, Azerium’s core network is basically a mesh (made up of Dag). A node must only confirm the transactions which it knows are valid. There is mutual benefit of doing this. We can also attach weights to transactions.
Whoever is adding a transaction, is contributing by confirming other transactions thus making the mesh more secure. Consider the following scenario: A node adds a new transaction, which (knowingly or unknowingly) confirms a conflicting transaction. Other devices on the network will also see this, but will not approve this conflicting transaction. Thus the original work which was done, is totally wasted. This is the motivation to either directly or indirectly confirm transactions which are not conflicting.
As the number of confirmations of a particular transaction increase, it is added into the mesh with higher level of confidence. For context, we define weight as the amount of work that the issuing node put into it. This means, to make a transaction more important, nodes need to put more work into it. This also ensures that a node cannot generate transactions that have a really high weight (since they would have to work proportionally more to prove it).

In order to issue a new transaction, the node needs to,

  • Confirm N unconfirmed and non-conflicting transactions
  • Prove that it has put in the required amount of work: This is done similar to how Bitcoin requires the hash to have some pre-determined number of leading zeros

Fast Transactions

The instance confirmation of a transaction comes from the fact that the transaction is added to local chain of a node immediately. The growth in number of nodes in mesh increases confirmation rate of the transactions. Confirmation time depends on the network topology / bandwidth limitation and the number of transactions per second. There is no limit by which the number of transactions are bound or the rate at which they can be confirmed. This results in a massively parallel and super-fast network.

Quantum Proof Model

Each transaction in Azerium must always be accompanied by some proof of work, i.e. is weighted but with a cap. So the main advantage of a heavy computational resource can’t be used to its full extent. There are also measures within the system to prevent a node from generating too many transactions within a short period of time and also avoid race conditions.

Highly Scalable

Azerium supports 100k transactions per second in the start, this will scale out as more nodes contribute to the system. It’s possible with weight balanced verification from worker nodes in the start by Azerium on i2p network. This works with modified zK snark to have deterministic run time and have infinite scalability. The trust-able worker nodes only activate when overall transactions drop by 100k to keep transactions fast and efficient.

Refund/Chargeback

Using cryptocurrencies, there have been instances where one of the parties involved in the transaction turned out to be malicious. This has given cryptocurrencies a bad reputation. Azerium offers fair and reliable instant transactions to address that. With Azerium, merchants and buyers have an option to keep the payments with an escrow until the contractual obligations have been met, this can be set as default by the wallet and is configurable.

Distribution

We strictly believe in fair and transparent distribution and a clean launch. No pre-mined coins for anyone (including the development team). We buy at the same price as the entire community. The project is self funded and we will continue to do so as much as we can.
The details of distribution model are still being worked on, and we welcome the feedback from community to contribute in making the process of distribution fair, transparent and balanced. We also believe marketing is important for mass adoption and will have a finite portion from the distribution.

Closure

This document is a an executive summary and a pre-announcement, and is in active development. We will provide with regular updates as soon as we have more significant details to share.
Please let us know your thoughts. Our main goal is to have this project driven with community’s support . Together we can all strive to make the entire ecosystem better.

Channels to get timely updates,

Telegram: https://t.me/azerium




mean Fast transaction that in second or in minute?
because some Crypto say fast transaction but after release transaction is fast if use high fees
if low fees that same slow transaction

There won’t be any fees at all and same latency for all transactions, with our initial stress testing we were able to touch <6.4 seconds with binding contract and anonymity enabled. We’re working further to improve this number.
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January 08, 2018, 01:24:58 AM
 #7

Sounds great, will it be like RaiBlocks captcha distribution?
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January 08, 2018, 01:29:43 AM
 #8

There have been lots of projects like this announced, all look similar.  STONE is one.  If you can build it great.

Notable projects 2019: Semux, Dero, Wagerr, BEAM
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January 08, 2018, 01:30:33 AM
 #9

We understand your frustration but we’re NOT asking for donations, just your opinion and support.
well language used is very similar to a well known scammer my gut never lies to me if you're not which i doubt very much,don't ever mention donations here or put your bitcoin address requesting some support we already seen this bullshit before,make a complete mature good project and the community will reward a good project once the project is mature not scammers.
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January 08, 2018, 01:39:10 AM
 #10

lolll yah its basically a copy and paste of the stone thread
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January 08, 2018, 02:21:57 AM
 #11

Sounds great, will it be like RaiBlocks captcha distribution?
Faucet distribution is definitely on the horizon but we are also considering airdrop and referral distribution. We welcome any feedback you have.
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January 08, 2018, 02:49:47 AM
 #12

We understand your frustration but we’re NOT asking for donations, just your opinion and support.
well language used is very similar to a well known scammer my gut never lies to me if you're not which i doubt very much,don't ever mention donations here or put your bitcoin address requesting some support we already seen this bullshit before,make a complete mature good project and the community will reward a good project once the project is mature not scammers.
lolll yah its basically a copy and paste of the stone thread


I am part of the Azerium team. Since Stone & Azerium are both inspired by RaiBlocks, some similarities are bound to exist. However, the two are not the same. First, we support binding contracts, along with anonymity. Second, in addition to a currency we also planning to be an exchange. Third, we are not anonymous ourselves (our public profiles are attached) for credibility. Our scale is entirely different than stone. Lastly, we are putting our own money to fund this because we firmly believe in the project & its vision and are not asking for any kind of donations, just your feedback.
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January 08, 2018, 02:54:15 AM
 #13

You're the same "dev" of Stone? This sound much strange..
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January 08, 2018, 02:57:44 AM
 #14

I need more information before making investment decision: team dev, roadmap ...
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January 08, 2018, 03:02:01 AM
 #15

You're the same "dev" of Stone? This sound much strange..
No, we are not associated with Stone in any way whatsoever.
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January 08, 2018, 03:08:33 AM
 #16

You're the same "dev" of Stone? This sound much strange..
No, we are not associated with Stone in any way whatsoever.
well anyone with a brain and read both threads will know straight away you're the same,just don't mention the word donation here or dear to put your bitcoin or any altcoin address in this forum then we see if you ever going to make anything as i said genuine project never post announcement before they make something physical announcement is the easiest part and usually if project is announced before it's maturity it's a scam,we will be watching if you're the stone DEV you better close this thread now
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January 08, 2018, 03:22:11 AM
 #17

You're the same "dev" of Stone? This sound much strange..
No, we are not associated with Stone in any way whatsoever.
well anyone with a brain and read both threads will know straight away you're the same,just don't mention the word donation here or dear to put your bitcoin or any altcoin address in this forum then we see if you ever going to make anything as i said genuine project never post announcement before they make something physical announcement is the easiest part and usually if project is announced before it's maturity it's a scam,we will be watching if you're the stone DEV you better close this thread now

Again, we have no affiliation with Stone.
Stone's post has a lot of attention already. Folks have donated, and post is pretty active. What good would it do to start another?
We decided a pre-announcement purely to gather some feedback, not donations.
But yes you are right, we would like you to watch this space and stay tuned for updates.
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January 08, 2018, 03:24:02 AM
 #18

well I hope you are legitimate, you can understand our concern though.. best of luck if you are Smiley
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January 08, 2018, 03:31:00 AM
 #19

DAG become so popular for now,, because of IOTA
not sure if this project will be like IOTA
anyway good luck!! if you really serious to develop this azerium in DAG

.
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January 08, 2018, 03:36:47 AM
 #20

Wow guys calm down ! Yeah they use DAG like Stone, but they didn't give a word about donnation and you already attack them...
All they want for the time being is feedback... Feedbacks aren't transformed into btc... Their are transformed into good product!
Wish you good luck guys.
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