It's not about trying to hide something, but protecting IP.
Have a look at this ALTs market, scam coins flood again and agin. If open source at this stage, there'll be XC1, XC2, XC3 tomorrow morning when you wake up.
You mentioned OPEN HW? do you know even CPU has software in it? How do you think Intel and Qualcomm will open source for you? Are you kidding?
BTW, if you have interesting in below ISA code of CPU, we could have a talk LOL.
Let us finish on it.
Agree, IP protecting is nice feature, but it behaves in context of anonimity we've decided not to touch on.
If I am somewhat paranoid, I can completely switch to TOR or VPN tunelling on my comp to use BTC instead of XC because BTC source is open.
But XC does have another intersting features against BTC, you do ignore again and again
Here you go:
From the website:
xc-official.comANONIMITYXC’s privacy technology is currently industry-leading, both in the degree of privacy that is possible, and in the flexibility of its privacy solution. XC offers multiple and optional layers of privacy that are suitable for a variety of purposes. Here’s a brief overview of how it works.
Multipath ArchitectureBefore a transaction or a message moves through the XC network, it’s first broken down into small fragments, which are then sent along multiple, randomly selected paths through the network. This allows for several privacy benefits. Firstly, the amount paid or received is kept confidential, because any one fragment is not associated with any other fragment. Secondly, once a payment is made, there is no public record whatsoever to associate the receiving address with the sending address. As a result, onlookers can neither know the amount received or sent for any given transaction, nor can they know which addresses sent or received the original transaction. Additionally, the security and robustness of the network is bolstered, because if any one node fails to forward a fragment of your transaction, there are multiple others to take its place.
Multipath routing is optional. It maximizes the privacy of a transaction.
End-To-End EncryptionBy default, transactions (and broadcasts on the XC network) are encrypted from end to end. This means that if any party intercepts a message, it is impossible (i.e. computationally infeasible) for them to decode it.
The XC App automatically uses end-to-end encryption whenever you make a payment.
TOR NetworkTo steal a private key, a malicious actor would have to gain access to your computer. To do this, (s)he would first have to know which computer a transaction comes from. For this reason, the XC App connects to the XC network via TOR (“the onion router”), which obfuscates your IP address, making it extremely difficult to decipher where any given transaction comes from.
Using TOR to connect to the XC network is optional.
App EncryptionIf a malicious actor intercepts a transaction, before it can be read the private key for that message would have to be stolen (in order to decode the message). Private keys are themselves encrypted and stored securely in the XC App. This makes it impossible (i.e. computationally infeasible) to find out what the private keys are.
When you download the XC App, you can encrypt it and set a password to unlock (decrypt) it whenever you use it. However, don’t store your password on your computer. In fact, don’t share it with anyone. (If you forget your password, you will be able to get your private keys back from a backup that you will make.
Multilayered Privacy
In summary, it is a monumental effort to breach XC’s privacy or security:
Your IP address would need to be revealed, which TOR makes effectively impossible.
Your transactions or messages would need to be identified with your app, which multipath makes impossible.
The balance in your app will need to be known for there to be any incentive to invest the massive resources required to hack a wallet, which end-to-end encryption and multipath routing make impossible.
Lastly, your app would need to be hacked, which is computationally infeasible unless your password is known.
Without surmounting these challenges, a malicious actor will not have a chance to compromise your privacy or steal your money. The amount of processing power necessary to break the strong encryption in any one of these layers is generally more than that of the entire internet! In other words, it is computationally infeasible – practically speaking, impossible – to compromise any one layer of XC’s privacy platform. In this light, XC offers true privacy and true security, and this puts you back in control of your information, your money, and your identity.
