PYCOIN - Decentralized Privacy Platform for Secure Smart Contracts
Pycoin is a privacy preserving zero-knowledge protocol-based decentralized platform for writing, testing and deploying mathematically verifiable secure smart contracts in Python language that behave exactly as intended.Unlike Etherium smart contracts with a history of repeated hacks and stolen funds, hundreds and millions of dollars, Pycoin ensures that no run time errors or intentional/unintentional bugs can be used as expolits to steal funds and corrupt Pycoin smart contracts. Pycoin can be also used as a platform for launching a number of next generation decentralized applications such as scalable decentralized exchanges(DEXs), automated hedge funds and darkpools.
Pycoin uses Simplicity, a new typed, combinator-based, Turing Incomplete functional language without loops and recursion, designed to be used for crypto-currencies and blockchain applications as its target language and Python, a highly popular and versatile high-level programming language as its source. Simplicity was released recently by Blockstream, an influential decentralized application development company. Owing to its Turing incompleteness, Simplicity is amenable to static analysis that can be used to derive upper bounds on the computational resources needed, prior to execution. While Turing incomplete, Simplicity can express any finitary function, which we trust is enough to build useful “smart contracts” for blockchain and blockchain-free decentralized applications.
In order to encourage Pycoin users to participate, i.e., be online when selected and pay the network cost of operating Pycoin, the system may need to include incentives, possibly in form of a reward mechanism. Designing and analyzing an incentive mechanism includes many challenges, such as ensuring that users do not have perverse incentives.
Pycoin uses initially a directed acyclic graph decentralized network for deploying on a fork of DAG-based XRB(RaiBlocks).
Our goal is to create a platform that enables which can be more reliable and easy to understand and create smart contracts. And Pycoin is a decentralized application for writing, testing and deploying mathematically verifiable secure smart contracts(SSCs) in python language that behave exactly as intended.
In the near future Pycoin will be deployed on a realtime unforkable blockchain codenamed DexOS. DexOS will be capable of processing up to 2 Millions transactions per second and new users can join the network without affecting the network throughput.
Signing algorithm : ed25519+blake2B for DAG-based chain(forked XRB) and Blake2B for
DexOS realtime Blockchain
Hashing algorithm: Blake2B for hashing and PoW of DAG chain and for DexOS realtime
Blockchain
Key derivation function: Blake2b for both chains
Block interval: Instant for both
Total coins planned to be launched: 62,000,000,001
Max Supply (hardcap): 62,000,000,001
Reserved for developers and founder team: 9,000,000,000
Reserved for Bounty Hunters: 2,000,000,000
Mineable or not: Not Mineable for DAG-based chain but mineable for DexOS chain. But the mining fees will paid to peer-to-peer validators/users using mobile smartphones or laptop/desktop machines not to any speacial miner nodes.(edited)
We are implementing a zero-knowledge protocol ZK-STARK for it as a privacy-preserving quantum-safe cryptocurrency. And all Pycoin secure smart contracts will have privacy layer as default option.
