Phase 2 ExplainedPhase 2 is a joint effort between SuperCoin and MammothCoin dev teams.
Phase-2 of the anonymous wallet is to provide a trustless system, and a truely de-centralized p2p coinjoin system. Again the characteristics of the trustless system are:
- Each party will do the best they can by gaining (e.g. coins).
- Whenever possible, they will cheat to gain advantages.
- They will not sacrifice their own benefits to do damages (e.g. cheat).
- They will do damages even they don’t gain anything (make others lose, but they themselves will not lose, they may not gain either).
In phase-2, the sender of the coin will pick randomly any qualified peers as mixer and guarantor, to send the coins anonymously. This is a truely de-centralized p2p coinjoin system, which has no central authority at all in whatever format. Any qualified peers (eg holding enough coins in his wallet) can become the middle points of the transfer (of course if he wants, he can turn off the "service" from the config file).
This system is much more complex than the phase-1 mixer solution we already completed. It involves intensive usage of multisig addresses and transactions, with mini-escrows established so to constrian various parties involved and guarantee the smooth transfers of the fund.
I am glad to report that we've made significant progress on the phase-2 work.
First, we have defined a complex scheme that coordinate the anonymous send, and it guarantees that all different parties involved will behave correctly, because otherwise they will lose their own coins (mini-escrows in effect).
Second, we have fixed some significant bugs in the code that prevent some multisig features from working correctly. As some of you probably know, the Bitcoin codebase created the multisig system and it has some intensive testing there and many bugs fixed. Bitcoin uses protocol version of 700xx. All the PoW/PoS codebase, however, follows the NovaCoin codebase, which is currently at protocol codebase 60015. The multisig system is unfortunately not working in the 600xx codebase. And porting the whole 700xx to PoW/PoS is a siginicant of change, involves many complete code rewrites. We have successfully fixed the multisig address and transaction system in codebase 600xx without porting the whole new code over. This way it guaratees the smooth development/enhancement of SuperCoin and MammothCoin.
Now all basic building blocks especially the multisig addresses and transactions work great, we are in the process of implementing the whole phase-2 scheme. We can not reveal the details now, but we will publish whitepapers gradually on this and we will provide weekly updates to the community on our progress.
As you understand, devs all have their daily jobs and we are focusing on this whenever we have spare time. Our track record to deliver phase-1 is excellent. Our SuperSend mixer coinjoin solution is one of the best: intuitive, simple to use, fast and very reliable. This team knows exactly what it's doing and we are a very capable team, knowing all the details of the coin codebase, and is able to deliver as promised. So please understand that while we will do our best to communicate with community our progress, we can not be in the thread every day, and we need to focus to accomplish our implementation, there are a lot of work as you could imagine. Post your questions if any, we will try to answer as much as possible.
Supersend will be the best anonymous send, we have no doubt about it. SuperCoin and MammothCoin will become the best X11 and X13 coins. As we have the best devs, best technologies and best community here!
