ALQO (XLQ) - MASTERNODES, PRIVACY, POW/POS, Encrypted p2p CHAT, HYPERSEND, inclusive Governance!!
VIDEO LINK: https://youtu.be/ffy8LbbY29MALQO (XLQ) is a 3rd generation cryptocurrency which offers instant and anonymous transactions.
Centralization: in bitcoin mining, people with the most money get most of the rewards from mining. In order to prevent such an occurrence, ALQO utilizes an advanced and fair hashing algorithm known as Quark. Quark is well known for being a lightweight algorithm that can be mined with very modest hardware devices. This ensures that anyone can participate in the ALQO mining, whether they own a smartphone or a super computer. It further utilizes multiple algorithms, namely Blake, Groestl, Blue midnight wish, Jh, SHA-3 and Skein, which makes the development of a dedicated ASIC device specifically designed to produce a large number of hashes per second virtually impossible as it must work with 6 radically different functions. This property is known as ASIC-resistance, and with it, we seek to eliminate any barrier to entry for the average ALQO end user in terms of network governance and promote absolute decentralization and democracy
Sustainability & Governance: ALQO has decided to opt for a system called Carbon Voting, whereby every 1 ALQO is given 1 vote.
Scalability and Network: To ensure the long-term health and future-proof its network, ALQO has decided to introduce the following:
• Larger and Faster Blocks. ALQO relies on a block size of 4MB and a block time of 60 seconds. This effectively allows ALQO to handle a transaction volume 40x greater than Bitcoin’s.
• Flexible Blocksize. Roughly 1 year into ALQO´s life cycle, the network will switch from a consensus algorithm of mining-driven Proof of Work to staking-driven Proof of Stake. Upon this second stage, the protocol will switch to a dynamic blocksize that will adjust in size to any increase in transaction volume. If the network detects that more and more transactions are stuck in the unconfirmed queue (known as the mempool) it will dynamically increase the size of the subsequent blocks to handle the increase in transaction volume. This is the equivalent of a mining difficulty algorithm applied to block sizes.
• Masternodes. The ALQO network constitutes a 2-tier architecture, where the first tier is the protocol level, mining and staking and the blockchain itself. The second layer is its masternode array, being a large network of high availability dedicated servers operated by users. These users provide enhanced services to the network (such as faster transactions, anonymous transactions, voting validation and others) as well as contain a full copy of the blockchain.
POW/POS: Traditionally, POS requires that a user has their device running and continuously connected to the network at all times, otherwise they are skipped by the network for reward distribution. With the groundbreaking Liberio wallet, cold staking is now a reality - users automatically stake and gain rewards for their balances without having to take any actions whatsoever. Think of it as generating passive interest on your bank balance while helping maintain its infrastructure at the same time while incurring no costs at all.
Liberio Framework transcends the definition of a simple SPV client and is an entire framework upon which more user-friendly services will be built and offered over time. We can list the array of features and services it currently offers seamless access to as the following:
• ALQO HyperSend & ALQO Shroud. Using the Liberio client, users will be able to specify whether their next transaction will be done in a high-speed, high-anonymity fashion utilizing the HyperSend and Shroud services.
• Infinite Scalability. Liberio is designed to be a partial SPV, meaning that it'll keep an MVC (minimum viable chain; mentioned previously) version of the chain. This MVC will consist of only the 20 more recent blocks and prune the remainder. Coupled with ALQO's Quark algorithm that's designed for low-end devices, Liberio will allow every single such client to participate in the block and transaction validation process and in turn fortify the decentralization of the network. As Liberio is designed to be compatible with any device, from dedicated services to mobile devices with minimal hardware and network requirements, it'll form the basis of having hundreds of thousands if not million of effective nodes on the network, resolving the scalability issue before it ever arises.
• Masternode connectivity. Liberio will allow users to connect and configure their masternodes remotely while maintaining local control of their private keys. • ALQO Hosting Framework. Liberio will grant users seamless access to the ALQO Hosting Framework, launch and monitor their masternodes from the comfort of their wallet. All a user will have to do is connect and/or launch a node with a single click, and ALQO's back-end infrastructure will take care of the rest in a seamless and painless way.
Offline (Cold) Staking.
• Wallet-To-Wallet Chat. Using the ALQO cryptographic framework, Liberio will enable secured and end-to-end encrypted p2p chats between any two members on the network in order to increase coordination and economic cooperation, allow for preplanning and reduce the occurrence of imperfect transactions.
• Built-In Palacio Framework. The Palacio Framework is a game changer in the cryptocurrency space with very broad commercial implications, and its design has not yet been finalized and therefore cannot be made public as of yet. As mentioned, more information about Palacio will follow towards the end of 2017.
Atomic swaps.
