New revolutionary technology PoBanon (proof of burn anonymous - Korecoin)

[Pala_00]

Some news about Korecoin.
https://bitcointalk.org/index.php?topic=668886.0

A new revolutionary technology will be added. THE FIRST REAL ANON COIN.

What do you think about this project?

From the dev:

About the anonymous feature, I can start to explain the based idea. I've not tell about it before because I wanted to be sure that I can do it. I've start to work on it with good results.

I've think very much for find a good solution for give a REAL anonymous to the users, and all ideas that I've find around the forum it's only words.
The truth is that you never can hide the transactions because your coins can exists only in two situation... first if you have mined it, two if you have receive it from another user that have received too or have mined it.

If you going to delete/hide the transactions, coins simple don't exist anymore in chain. Of course you can encrypt it and give to the wallet the keys for uncrypt and read it. But if the wallet can uncrypt and read the encrypt TXs, all can do the same, and your anonymous feature going to be unuseless.

Finally I've find a crazy idea.

It's PoB based. PoB means Proof of Burn, is working when people send coins to a special address, this coins going to be destroy, and user take back a block with the same amount plus a interest. Usually PoB working with the same address that have send.

Now my solution. User that want to hide the sources of his coins, simple send coins to special Kore address, select the address where want to receive the new coins, and wait a random number of blocks. After this he going to receive the same coins burned, like he have mined it. New address, generation, no history of this coins, totaly anonymous.

The old coins going to be stored in the special and unspendable address and subtracted from the total coins.

I have not very much interesting to use PoB for network maintenance. I want to use it like washing machine. And of course, I've already write it, the destination address will be an unspendable address. I've to calc the checksum yet, but it will be like "KoreCoinDestroyMachineXXXXXX".

PoBA in devel, Will release the 1st October. This feature going to fork the net, you will must to update the client.

[Splatters]

I'm seeing in these days a good rising for KoreCoin, I think the ideas and projects are good, and its community is growing because of that.
The dev is pretty Legit for how is managing the coin, and if all the promise become reality I see this coin soon in the first three on bittrex.
It could bring a good innovation with this PoBa feature!
Let see.

[Pala_00]

I'm seeing in these days a good rising for KoreCoin, I think the ideas and projects are good, and its community is growing because of that.
The dev is pretty Legit for how is managing the coin, and if all the promise become reality I see this coin soon in the first three on bittrex.
It could bring a good innovation with this PoBa feature!
Let see.

+1

[Althoelzer]

Want to read more about this. Where can I find more information? I don't think this is all you got for future investors ;-)

[Splatters]

volume is getting crazy with kore today!!
it was about 4BTC this morning, and now it's 60!!

Want to read more about this. Where can I find more information? I don't think this is all you got for future investors ;-)

try looking at the official thread!

https://bitcointalk.org/index.php?topic=668886.0

[Pala_00]

[Splatters]

I'm looking forward to know better and try this feature.

[BitcoinFX]

...

I'm looking forward to know better and try this feature.

PoB (Proof-of-Burn) was first implemented in Slimcoin: https://slimcoin.org

Slimcoin White Paper: https://slimcoin.org/images/downloads/slimcoin_whitepaper.pdf

BitcoinTalk.org thread: https://bitcointalk.org/index.php?topic=613213.0

Slimcoin is perhaps one of the most underrated alt coins in regards to its economic model and also its technical implementation as a CPU mining (Dcrypt algo), PoS and PoB coin. However, the Slimcoin network has been somewhat fraught with issues and forks due to being built from earlier versions of both Bitcoin and Peercoin's code base. From a purely technical perspective PoB theory is quite sound.

In terms of PoB for anonymity - mining PoB blocks obviously confirms that a wallet has made proof-of-burn transactions i.e. has destroyed coins. Net Burnt coins , Effective Burnt coins , Immature Burnt coins and Decayed Burnt coins are live on the network and this information can easily be used by an adversary to identify which wallet / address actually burnt the coins.

Innovative and "new revolutionary technology" features are important with all alt crypto coins and I'll watch this implementation with interest, but without knowing the detail of it, I would say that there are much better ways to provide anonymity.

Remember that even PoSA isn't really truly anonymous (yet and if ever) and PoB (even without an 'anonymous' implementation) is still something very new in crypto.

Kontinue...

[Pala_00]

There are some differences between the traditional PoB (proof of burn) and the PoBa (proof of burn anonymous).

" I have not very much interesting to use PoB for network maintenance.
I want to use it like washing machine. "

I dont have information about it... The PoBA code is Open source and we can read it on October 1

[BitcoinFX]

There are some differences between the traditional PoB (proof of burn) and the PoBa (proof of burn anonymous).

" I have not very much interesting to use PoB for network maintenance.
I want to use it like washing machine. "

I dont have information about it... The PoBA code is Open source and we can read it on October 1

Sure. I look forward to see just how PoBA is implemented.

The obfuscation of sent transactions does not equal 100% 'true' anonymity and never can.

Coin ownership (your balance) and any changes to it at the time of a transaction can be used by an adversary to identify you. Thus, PoS and PoB are perhaps always less anonymous than PoW.

However, in terms of the network, the process of PoW mining (in the main and when mining in a pool, for example) is less anonymous than PoS(A) and PoB(A).

In other words, the real issue becomes one of ownership and acquisition of the asset, over and above the ability to make anonymous transactions.

EDIT: Basically its pointless to be able to make 'anonymous' and obfuscated transactions if an adversary already knows who owns the coins. PoS and PoB make this worse, because future balance increases can be linked more easily to the origin of ownership and/or spending patterns. You get more anonymity, in many respects, by just mining PoW coins over Tor to a new address!

The more anonymity provided to all users from the get-go, then the better the anonymity for the entire system. Basically, a functional system (ofc), which is also a total mess i.e. where 'real' transactions get fully 'lost in the noise'.

~ Anonymous mining stage via Tor (pools only using .onion addresses) and mining pre-set to connect that way for all users, automated coin mixing on the network and in the wallet by 'default', wallet connectivity only via an anonymity network such as Tor, then PoSA and maybe PoBA - this is the only route I see currently to 'perfect anonymity' with crypto-currency.

[Splatters]

Eurbids made a great job, the alpha wallet works perfectly and calls quality is very smooth!!
Amazing!

[Splatters]

http://i.minus.com/ibquZZeIF0w5G3.gif KORE

[bubble83]

Proof of burn anonymous is a really innovative concept.