[NUD ₦ ] New Universal Dollar | Bcrypt | 0% Pre-mine

New Universal Dollar

Hello there,

I am the founder of New Universal Dollar and I would like to invite you all to take a moment out of your day to mine some NUD while the difficulty is low, it will cost you nothing and will take an insignificant amount of time, please don't miss out on this golden opportunity.

Since NUD is a CPU coin and is very likely to remain so in the foreseeable future your rewards would be large and the potential to earn for your effort maximized. No other mining methods except the official client are available.

NUD is the first currency with a practical solution to anonymity. Using the secure bcrypt which is 12 years old and based on functions that are more than 30 years old. New Universal Dollars are truly here to stay.

This post signifies the soft-launch of NUD and will be expanded upon the addition of exchanges and other services.

url: nud.fi

Forum • Wiki • Blog

NEW UNIVERSAL DOLLARS IS TAX-FREE, ANONYMOUS, DECENTRALIZED DOLLARS FREE FROM THE CLUTCHES OF CENTRAL BANKERS.

What is NUD?
New Universal Dollars are distributed peer-to-peer digital currency that can be transferred instantly, securely and anonymously between any two people in the world. It's like a credit card that you can use to pay friends or merchants however significantly more secure with no chance of your assets getting arbitarily seized.

Specifications:

BCRYPT
TOTAL COINS: 21,000,000 (MILLION) NUD
2½ MINUTE BLOCK TIME
KIMOTO'S GRAVITY WELL
6 CONFIRMATIONS
OPENSSL VULNERABILITY FIXED
PRE-MINE 0.0%

Features:

SECURE
NUD is based on bcrypt, a key-stretching hashing algorithm that exists for 13 years and is based on functions that are more than 30 years old.

COMPLETELY ANONYMOUS
Unlike other alternatives NUD is not just pseudoanonymous but completely anonymous on both the protocol level (TOR) and the blockchain level.

SMALLER BLOCKCHAIN
Other cryptocurrencies blockchains are ever growing and could potentially become so large within the coming years that only centralized servers could store them, NUD actively works on introducing a significantly smaller blockchain which will not compromise on security.

Original innovation summarized:

Quote from: YarkoL on July 10, 2014, 06:10:47 PM

Here's an attempt for ELI5. Well maybe more like ELI12.

NUD works on two fronts. First you need to have a Tor address.
(You need to install Tor yourself and turn your wallet into a hidden service)

Others on the network will not then see your IP address, instead
they see you something like lcqnp3bufy2hoosd.onion.

When your address is relayed through Tor network, it's pretty good anonymity,
meaning that it is pretty hard for anybody figure out who is behind
the .onion address.

This in itself is not very remarkable (some other coins have it too), but NUD
adds another layer of anonymity in the form of transactions by delegate.

A delegate is someone who uses a part of his total balance to service
other users for a fee. So when you want to send NUD anonymously,
your wallet contacts a delegate wallet that has enough NUD to fund
your transaction. Then the delegate transfers his coins to recipient,
and afterwards you send an equal amount (plus delegate fee) to the delegate.

The end result is that there is no record in the blockchain that links you to the recipient.
What is recorded are the payments from the delegate to the recipient
and from you to the delegate, but for an outsider it is hard to say who is the sender
and who is the delegate, especially when there are many transactions
of this kind.

The wonderful thing is that all this happens kind of automatically. The
sender just pushes a button and goes to sleep. The delegate can be
asleep all the time. The wallet takes care of the processing. And if something
goes wrong (like computer crashing when they're asleep), the sender or the delegate can
reclaim their NUD. That works because the transactions have an inbuilt escrow
mechanism.

This is the gist of it. In practice however there are still a few hurdles and
wrinkles, that will no doubt be leveled out as NUD matures.

Donations:

NUD:

Code:

NEaaHBhhjaTK36mYiSvPGjSjThDWN5gXgM

BTC:

Code:

1HnSPip8oHNJqhjRKdc1tX9GFumdVLuBcq

Wallet:

Wallet Download

Resources:

Exchanges

Explorers

Chainstate

Source Code

Accepts NUD

Coin Gifts

Graphs

Cryptonator

Bounties

Additional info:

If you want to help with development / design / marketing or add NUD to your services like pools, exchanges, etc.
Please PM Julian Sheen

August-12-2014:

Quote from: NUD on August 12, 2014, 07:26:51 PM

A hardfork will happen within 24 hours.

Don't forget to update the clients.

Update:

Quote from: NUD on August 12, 2014, 10:17:52 PM

The new master is now available. Please update everyone.

Quote from: JulianSheen on August 17, 2014, 10:04:17 AM

Fix for the 0.0.0.5 bug

It seems that the network forked, we are still early in development with no serious resources allocated so things are moving slow. They will move significantly faster now.

We have came up with a fix:
1. Re-download the client from http://nud.fi/downloads
2. Download the blockchain from the same page or http://nud.fi/blockchain.zip
3. Unzip the blockchain into %appdata%/NUD directory on Windows or ~/.NUD directory on Linux
4. Launch the client and wait for the blockchain to get rescanned

This will keep your client synchronized to the proper/official fork of the network.