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Author Topic: [ANN][SUPERCOIN]First P2p Decentralized Trustless Anonymous Wallet Coming Soon  (Read 468916 times)
Wizardskills
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August 10, 2014, 08:40:59 AM
 #9581

While I am writing the whitepaper, I think instead of publishing it all at once when I finish, I will post it in parts, every 2-3 days, so community will get more details about the algorithm we use and logistics behind it. It is also an education process so people will understand what is a trustless system and why we need it. So expect 3 parts to be posted in this thread. I will prepare a pdf file with all parts together (the formal whitepaper).

All questions are welcomed, though I may not have time to answer all the questions. Because I still need to do testing on the code and fix bugs, and add bells and whistles etc.

Below is the first part on the SuperSend Trustless system. I will try to publish the next part in 2-3 days, maybe Monday/Tuesday time frame. Next parts will describe the overview and details of the algorithm.

==

SuperSend Trustless is an advanced p2p completely decentralized anonymous system. It belongs to Coinjoin category of the anonymous wallet. In this system all nodes (clients) are equal; there are no centralized or special nodes that hold more info than others. The coin transfer happens with the help of middle nodes that are randomly chosen. Mini-escrow is used with multisig address and transactions to ensure all the parties behave according to the transfer rules. This is a complete trustless system. The system is designed in a forceful way for all parties to behave correctly. If any party tries to cheat, he will lose more than his gain in the cheat.

Among all the online coin clients, if some minimum requirements are met (e.g. with minimum amount of coins in the balance, and with minimum 2 addresses in the wallet, etc), the node will advertise itself as a service node. Other nodes receiving the advertisement will add it to their service node list. There’s a limit in the service node list for each client (currently limited at 30). Any client can turn off the advertisement, if it does not want to be a service node. To turn off the service node advertisement, user just need to put a line in the config file. A service node will receive certain fee for each service it performs. Node not want to be service node can still receive other node’s advertisement and use the anonymous service, as long as it pays the service fee.

SuperSend Trustless makes heavy use of multisig technology. The sender of the coin will choose randomly 2 middle service nodes from his service node list to help the anonymous transfer. Among the two nodes chosen, one provides mix service, and another provides guarantee service. Why need 2 nodes? Because if there are any disputes between sender and mixer, it is up to guarantor to make a final judgment and then distribute the fund in the escrow accordingly.

Mixer is the node to mix the coins with his own, and send to destination. It is possible to have multiple mixer nodes, so to further obfuscate the transfer. At the current implementation, we use a single mixer node.

Guarantor is the one who will make the final judgment if any dispute between sender and mixer. If everything goes on well, Guarantor’s job is just to create multisig address and multisig transactions. It will not be involved in the signing processes of the multisig transactions in normal cases. But if there are disputes, the Guarantor will decide, based on the facts of the existing transactions, the outcome of escrow distribution. Of course, Guarantor cannot decide alone, he has to coordinate with another party (see below for the signing of multisig transactions).

We use a 2-of-3 multisig address for escrow. What is a 2-of-3 multisig address? It is an address that is created based on 3 public keys, each from Sender, Mixer and Guarantor, respectively. Remember, Sender, Mixer and Guarantor each hold the corresponding private key of the public key. Anyone is free to deposit coins to the 2-of-3 address. But in order to spend any fund from the address (i.e. send to another address), the transaction needs to be signed using at least 2 out of 3 private keys. Since the private keys are in different nodes, different nodes must willing to sign the same transaction before it becomes valid. In another words, the coins in that address cannot be spent by anyone alone, at least two of them should agree before the money can be spent.

==



WOW, nice one super dev Cheesy. I can't wait for this to come out of test and into general use. I'll be able to earn super via the multipool, PoS and as a mixer Cheesy

One question, will both of the addresses in the wallet have to have sufficient funds in them for the escrow to work or is it taken as a total over all of the addresses?

A tip is more than welcome if this post was helpful to you Smiley
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supercointeam
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August 10, 2014, 09:33:56 AM
 #9582

I would like to donate 250-500 SUPER but now  I cant  , i'm waiting a withdraw from cryptsy Wink .
Good idea, a good supportive community is key to success.
nomad13666
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August 10, 2014, 10:01:08 AM
 #9583

eXe47
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August 10, 2014, 10:25:42 AM
 #9584



uuuh, lady super gaga ? creepy happy morning   Roll Eyes Cheesy

nomad13666
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August 10, 2014, 10:29:38 AM
 #9585

Super UPDATE for SUPERCOIN! Phase II: The trustless system is working!
http://www.reddit.com/r/supercoin/comments/2d3n5y/super_update_for_supercoin_phase_ii_the_trustless/

Gotta love it!
Supercoin is superior!
redsn0w
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August 10, 2014, 10:38:46 AM
 #9586

Just to say that wallets on Cryptsy (some of them) have problems. Roll Eyes Roll Eyes

Deposits are not transfered too. I am still waiting my deposit since this morning to be accepted.
Majormax
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August 10, 2014, 10:50:04 AM
 #9587

The new OP idea is good, but the English could use a little improvement, and a presentational lift.

Suggestion:

Main title, strapline.

SoD  System of Decentralization ... a trustless form of Anonymity

First line of OP 
'This is a legendary crypto currency. This is SUPER Coin. We are first one in its kind.
Phase 2 truly trustless system, and this is the first one'

 change to

SUPER coin is a landmark crypto currency.  The first one of its kind.
In Phase 2 of the development , a truly trustless anonymous payment system is introduced.




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August 10, 2014, 10:51:31 AM
 #9588



uuuh, lady super gaga ? creepy happy morning   Roll Eyes Cheesy



Lady Ghastly is not the best image !
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August 10, 2014, 11:02:28 AM
 #9589

NEW SUPERCOIN LOGO
VOTING STARTED


HERE -> https://bitcointalk.org/index.php?topic=732322.new#new


3votes per user
3days voting window
14 choices


Vote Vote Vote! =)
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August 10, 2014, 11:24:55 AM
 #9590

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August 10, 2014, 11:29:29 AM
 #9591


Oh great, i love tiffany taylor, she's one of the my favorite playboy girls Wink
If u r playboy lover follow me on twitter
@Playb0yl0ver
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August 10, 2014, 11:37:08 AM
 #9592


supercointeam
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August 10, 2014, 01:56:05 PM
 #9593


Grin Lovely.
Rnbin
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August 10, 2014, 01:58:21 PM
 #9594




Time to get Supercoin back on track !!! The price has been way too low due to several reasons (Busoni's lack of competence, the impatience of some investors when dev announced decentralization could take a while, and ofcourse the fudders). The time is near to recover from all that, finally we are able to prove the dev was serious of his vision. The price has reached 14k satoshi before, and that was when people could only dream of "phase 2". Now it's almost reality. You don't have to be a rocket scientist to realise how huge this is going to be !

Let's slowly reach a new top in the coming days, this time above 14k satoshi !
eXe47
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August 10, 2014, 01:58:29 PM
 #9595


Thx rudarSRB, i just added it to the voting pool!

----
NEW SUPERCOIN LOGO
VOTING STARTED


HERE -> https://bitcointalk.org/index.php?topic=732322.new#new


3votes per user
3days voting window
14 choices


Vote Vote Vote! =)
----
supercointeam
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August 10, 2014, 02:00:30 PM
 #9596

Super UPDATE for SUPERCOIN! Phase II: The trustless system is working!
http://www.reddit.com/r/supercoin/comments/2d3n5y/super_update_for_supercoin_phase_ii_the_trustless/

Gotta love it!
Supercoin is superior!

Yeah, Feel the superiority over others. Even Bitcoin has not got this much advanced anonymity solution...
lobo13hf
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August 10, 2014, 02:05:09 PM
 #9597


Thx rudarSRB, i just added it to the voting pool!

----
NEW SUPERCOIN LOGO
VOTING STARTED


HERE -> https://bitcointalk.org/index.php?topic=732322.new#new


3votes per user
3days voting window
14 choices


Vote Vote Vote! =)
----
[/quote]


this logos have the look of natzis the one that we have  is the best one why change this gonna be like the 4th logo os Supercoin you just confusing the people ...

HERO/LEGENDARY




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TOKEN GENERATION EVENT
JUNE 4 UNTIL JUNE 24  [ WHITEPAPER ]
[TWITTER] [FACEBOOK] [REDDIT] [STEEMIT]
supercointeam
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August 10, 2014, 02:07:29 PM
 #9598




Time to get Supercoin back on track !!! The price has been way too low due to several reasons (Busoni's lack of competence, the impatience of some investors when dev announced decentralization could take a while, and ofcourse the fudders). The time is near to recover from all that, finally we are able to prove the dev was serious of his vision. The price has reached 14k satoshi before, and that was when people could only dream of "phase 2". Now it's almost reality. You don't have to be a rocket scientist to realise how huge this is going to be !

Let's slowly reach a new top in the coming days, this time above 14k satoshi !


Let's spread good news, Supercoin is finally doing it, new level of privacy under-control of you. This will create safer environment for all parties involved in. It's not about price but helping crypto currencies in general to advance to  newer levels of anonymity.
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August 10, 2014, 02:18:59 PM
 #9599




Time to get Supercoin back on track !!! The price has been way too low due to several reasons (Busoni's lack of competence, the impatience of some investors when dev announced decentralization could take a while, and ofcourse the fudders). The time is near to recover from all that, finally we are able to prove the dev was serious of his vision. The price has reached 14k satoshi before, and that was when people could only dream of "phase 2". Now it's almost reality. You don't have to be a rocket scientist to realise how huge this is going to be !

Let's slowly reach a new top in the coming days, this time above 14k satoshi !


Let's spread good news, Supercoin is finally doing it, new level of privacy under-control of you. This will create safer environment for all parties involved in. It's not about price but helping crypto currencies in general to advance to  newer levels of anonymity.



To me it's also about the volume that gets traded ! High volume is one of the best things to reach the big public, best marketing out there. People will find their way to this thread once they see Super on the exchange. And if you look at the graph you can see the volume rises exponentially in function of the price. So that's why i support this Smiley
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August 10, 2014, 02:34:48 PM
 #9600

Free!

The only thing that i hate is sometimes i forget to open my wallet for free SuperCoins



HERO/LEGENDARY




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TOKEN GENERATION EVENT
JUNE 4 UNTIL JUNE 24  [ WHITEPAPER ]
[TWITTER] [FACEBOOK] [REDDIT] [STEEMIT]
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