[ANN][SUPERCOIN]First P2p Decentralized Trustless Anonymous Wallet Coming Soon

[yurimir]

SUPERCOIN is : Simply the Best  

[1714896246]

1714896246

[1714896246]

1714896246

[nomad13666]

[nomad13666]

For the new investors, quick recap of the last important updates of supercoindev:



August 9th

Here's our update from dev team.

I have good news to report. I have finished the basic implementation of the p2p decentralized trustless anonymous system, and it works fine. With all the multisig addresses and transactions, it is a pretty complex system. Now it works end-to-end. In the next few days, we will provide a detailed schedule for testing and releasing the system (a rough schedule is below).

As far as I know, this is the first real p2p decentralized trustless anonymous system in coinjoin category. I am not sure for the crypto-note technology, it seems it is a good one, although it is a different technology and mainly for CPU. But for coinjoin category claims, I don't see any truly trustless system, and this is the first one.

Following is a quick screenshot from my desktop showing test log and some code.



The following is a rough schedule for the next few weeks, we will provide more details soon:

- A detailed white paper will be published in a few days, I should finish it before August 14. The white paper will contain details on the technology and algorithms we are using.

- Now to August 14 is dev team testing on trustless system, and also we will add bells and whistles to the code (especially for some error handlings).

- Alpha testing on real network of MammothCoin: August 15 - August 19. We decided not to use testnet as we have high confidence on our code, also our testing so far has been on the real network. We choose MammothCoin for initial testing as it has less traffic, so it is easier to fix initial bugs etc.

- Best testing on real network of SuperCoin: August 20 - August 24. With more robust code we move to SuperCoin. Both alpha and beta testings we will invite limited members of the community to participate the testing. These testing phases including all bug fixes.

- August 25, we will release p2p decentralized trustless anonymous system for both SuperCoin and MammothCoin.

Also, we don't release immediate the source code as they are too many copycats, but we plan to release the full source code 2 months after the system is released. So people with skills (and curiosity) will be able to inspect and review the code.

Stay tuned, we will provide more info in the next few days.

August 10th

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.

==

August 11th

Here is the 2nd part of the whitepaper, which gives a high level in-depth view of the trustless algorithm we use. Please refer to the part 1 if you need to understand some terms. Part 1 is here:
https://bitcointalk.org/index.php?topic=618552.msg8272890#msg8272890

==
The following diagram shows a high level description of the trustless system algorithm. It shows the “normal” case where everything goes as expected.




The next diagram shows the case where, after step 6, the Sender is not satisfied with the Mixer’s txid. This could happen if the Sender cannot verify Mixer’s transaction, or Mixer did not send enough funds to the destination. In which case Sender asks Guarantor to do the arbitration. The new scenario are marked in brown lines and explained in the diagram.



There are other possible scenarios, that we will describe in the next parts, where we will show details of the algorithm and steps. But from the above two cases you see why multisig is tightly linked with trustless system and how it creates a bonding among all parties where they have to follow the anonymous transfer rules.

August 12th

I added a console command "getlastanontxinfo" to get the info for the current or last p2p trustless anonymous transaction, so user can see the status and the log of the current or last (if finished) anonymous tx. From my tests, each trustless transaction takes about 30-40 seconds to complete. Considering the many steps involved, this is a pretty good speed.

+1000

[brookefinancial]

Lol guys I like the SuperGirl but I'm sure we can do better and post more serious things here ahead of the upcoming good days for SUPER.

Don't forget the alpha testing on MammothCoin starting on Aug. 13, they are looking for people to test it.

Beta Testing for "SuperSend Trustless" will be around Aug. 20.

[brookefinancial]

By the way, I'm pretty sure there is at least 1 person here who knows a miner with 300MH hash power, this is not very huge.

Let's take the hashrate of SuperMultiPool to 1GH, it has already double in the last few days.

[apojii]

Do we have a plan on Chinese promo

[marseille]

Do we have a plan on Chinese promo

That is a good idea

[brookefinancial]

Guys we are being featured on BitcoinAgile.com, I visit this website everyday for Bitcoin News and I stumbled into this.... Very great exposure!

Just because of this I think the small investment was well spent lol. I wanted Supercoin to be on BitcoinAgile.

[supercointeam]

Nah man you're correct, a press release is something important and I wouldn't make one myself either. This has to be done by the person who knows Supercoin best, the Dev would be a wise choice since he'd be the one who can bring up the best points of Supercoin in 100 words. 100 is really short to bring up all good things about Supercoin.

I have 60 words and it could look more professional. Let's work on that

Supercoin is pleased to announce the release of “SuperSend Trustless”, the first real p2p decentralized trustless anonymous system, on August 25th. The team is very proud of the recent development and will begin testing the new system on MammothCoin and SuperCoin in the next few days. The system is now working end-to-end and Supercoin is very excited to move forward with this project.

It looks good to me.

[supercointeam]

So this is the article he just emailed me this  

http://cryptocoinchronicle.com/2014/08/supercoin-supersend-trustless/

https://twitter.com/Cryptochronicle/status/499275628743380992

https://www.facebook.com/cryptocoinchronicle

https://plus.google.com/115165949572350437669/posts

http://www.reddit.com/r/CryptoCurrency/comments/2dd4gs/supercoin_supersend_trustless/

Leave comment: http://cryptocoinchronicle.com/2014/08/supercoin-supersend-trustless/

Retweet: https://twitter.com/Cryptochronicle/status/499275628743380992

[supercointeam]

SUPERCOIN is : Simply the Best  

She is gorgeous!

[CryptoBull]

Nah man you're correct, a press release is something important and I wouldn't make one myself either. This has to be done by the person who knows Supercoin best, the Dev would be a wise choice since he'd be the one who can bring up the best points of Supercoin in 100 words. 100 is really short to bring up all good things about Supercoin.

I have 60 words and it could look more professional. Let's work on that

Supercoin is pleased to announce the release of “SuperSend Trustless”, the first real p2p decentralized trustless anonymous system, on August 25th. The team is very proud of the recent development and will begin testing the new system on MammothCoin and SuperCoin in the next few days. The system is now working end-to-end and Supercoin is very excited to move forward with this project.

It looks good to me.

If this is the text i will send it

[supercointeam]

Nah man you're correct, a press release is something important and I wouldn't make one myself either. This has to be done by the person who knows Supercoin best, the Dev would be a wise choice since he'd be the one who can bring up the best points of Supercoin in 100 words. 100 is really short to bring up all good things about Supercoin.

I have 60 words and it could look more professional. Let's work on that

Supercoin is pleased to announce the release of “SuperSend Trustless”, the first real p2p decentralized trustless anonymous system, on August 25th. The team is very proud of the recent development and will begin testing the new system on MammothCoin and SuperCoin in the next few days. The system is now working end-to-end and Supercoin is very excited to move forward with this project.

It looks good to me.

If this is the text i will send it

It's perfectly ok for me, go for it!

[CryptoBull]

Nah man you're correct, a press release is something important and I wouldn't make one myself either. This has to be done by the person who knows Supercoin best, the Dev would be a wise choice since he'd be the one who can bring up the best points of Supercoin in 100 words. 100 is really short to bring up all good things about Supercoin.

I have 60 words and it could look more professional. Let's work on that

Supercoin is pleased to announce the release of “SuperSend Trustless”, the first real p2p decentralized trustless anonymous system, on August 25th. The team is very proud of the recent development and will begin testing the new system on MammothCoin and SuperCoin in the next few days. The system is now working end-to-end and Supercoin is very excited to move forward with this project.

It looks good to me.

If this is the text i will send it

It's perfectly ok for me, go for it!

I have send all that they need so we are waiting or result

[Splatters]

Is it a good moment to buy or it could dump a bit before a rise? 2k is cheap ok, but could it be cheaper?

[CryptoGretzky]

Hmmm so that screenshot...


1. Is Mammothcoin and supercoindev the same dev?
2. If not, who was the lazy dev that just stole that screenshot and pretended a transaction was logged?  (Mammothcoin dev or you)

[supercointeam]

We allowed mammoth team to use our graphics. Stop fud! If you want to be licencor you need to PM us.

[CryptoGretzky]

We allowed mammoth team to use our graphics. Stop fud! If you want to be licensor you need to PM us.

Thanks for answering.   So, what's the reason to let them use it if it supposedly shows one of your anon transaction?

[CryptoGretzky]

We allowed mammoth team to use our graphics. Stop fud! If you want to be licensor you need to PM us.

Thanks for answering.   So, what's the reason to let them use it if it supposedly shows one of your anon transaction?

We are co developers. Otherwise it takes more time to bring about such a unique technology. I wonder why you suddenly appear and questioning. It's long time we did not see any fud. You should feel something threating you. Let us know what makes you afraid so?

How is it fud when I am asking you questions based on posted facts from both you and Mammothcoin dev?   Which part of it do you "fear"?   The question was simple....   2 coins, same screenshot.   Why should you fear anything if you are not hiding anything?

I think you will only feel the fear part of FUD when there is something to fear. 

Sharing screenshots like that which take under 1 second to make using prtscr and and imgur is really questionable at best if the answer is to save "time"...? 

You can't blame people when you guys got lazy and decided to share something that is supposed to be unique to your coin.   We are not talking about a generic screenshot here.   This was supposed to be a successful anon transaction.   We are all living through scam coins after scam coins now.   If you don't want people to question, don't be lazy next time?!?!   Simple, right?!

[supercointeam]

Community rule 1 no feed the fud.

That's why we need self moderated thread.