Conceal Wiki

About

What is Conceal?

Conceal.Network is a decentralized blockchain bank, with deposits paying interest, without the involvement of financial institutions, powered by 100% open source code and community driven. No one owns Conceal.Network, everyone can take part.

Conceal.Network enables untraceable and anonymous messaging, and a secure way to transfer funds. Using a distributed public ledger, the sender and receiver are kept anonymous, a key concern in a post Snowden world. Hackers cannot trace funds or messages when they are sent across public networks.

(₡CCX), the native coin of Conceal.Network, is based on the Cryptonote protocol and runs on a secure peer-to-peer network technology that operates with no central authority. You control the private keys to your funds.

Conceal.Network is accessible to anyone in the world regardless of their geographic location or status. Our blockchain is resistant to any kind of analysis. All your ₡CCX transactions and messages are anonymous.

Conceal.Network avoids many Bitcoin concerns (e.g. technological, environmental impacts, reputation and security) and is an excellent private alternative store of value.

Privacy Oriented Cryptocurrency

Conceal is an open source, privacy protected, peer-to-peer digital cash system. It's untraceable and completely decentralized, without the need for a central server or trusted parties. Users hold the crypto keys to their own money and transact directly with each other in a secure P2P network environment. It has a decentralized banking system in its core and instant untraceable encrypted messages.

Main Features

Anonymous Banking Encrypted Messages
Deposits form the backbone of the Conceal ecosystem, providing users with an egalitarian form of staking (via Hash-Timelocked-Contracts) that earns interests on locked deposits. Annual interest rates vary from 2.9% to 6% depending on how long you choose to lock your deposit and the amount locked. A true decentralized, anonymous, untraceable, and end-to-end encrypted messaging service that operates on the blockchain while allowing messages that self-destruct. Future releases will include web and mobile messaging applications.
Anonymous Payments Unlinkable Transactions
Conceal uses ring signatures and one-time addresses for truly anonymous payments Conceal's transactions can not be linked between the sender and the recipient.
Protected Proof Of Work Dynamic Adaptive Limits
Our own decentralized, energy efficient PoW mining algorithm, Cryptonight Conceal, is designed for egalitarian CPU & GPU mining and ASIC resistance. Conceal intelligently adjusts its parameters based on the historical data.
Fungible Scalable
Conceal is truly fungible, thanks to built-in privacy features. Just like cash, all coins are equal, changeable. It is extremely unlikely that a coin will ever be blacklisted by any party due to its association in previous transactions. Future scalability initiatives will include a modular sidechain.

Conceal is an open source EXPERIMENTAL project, which means that there is no company behind it. This project is supported by the community, meaning there is no stable, full-time team and no physical headquarters from which the project runs its operations. The advantage here is that anyone can propose changes or improvements to the blockchain, and, if the suggestion is voted by a majority of the community, the changes are then implemented.

This project is a community project, not a commercial product, and it relies on the good will of the volunteers involved.

Conceal is distributed in the hope that it will be useful to people, but WITHOUT ANY WARRANTY; without even the implied warranty of MERCHANT ABILITY or FITNESS FOR A PARTICULAR PURPOSE.

There is no warranty that the coins generated/accrued will be worth anything.

Enjoy it!

Specifications

Name Ticker Symbol
Conceal CCX
Block Time Decimal Places Transaction Fees
120s 6 0.0001 ₡CCX
Mining Algo Difficulty Privacy
Cryptonight Conceal DDA & Zawy's LWMA3 Ring Signatures and One-Time Addresses
Max Supply Banking Deposits Premine
200M ₡CCX Tier 1: Principal <10,000 (Base APR 2.90%/Max EAR 4.00%) Tier 2: Principal >=10,000-19,999 (Base APR 3.90%/Max EAR 5.00%) Tier 3: Principal >=20,000 (Base ARP 4.00%/Max EAR 6.00%) 6% of the max supply locked over a 5 year interval
Messenger Block rewards Address Format
Encrypted Messages and Self Destructive Messages Starting on 5 ₡CCX and going up to 15 ₡CCX (+0.25 ₡CCX/month). Currently at 10 ₡CCX. Wallet addresses are a string of 98 characters starting with “ccx7”.

Conceal Emission

Conceal coin (₡CCX) emission is generated from two distinct sources:

Proof of Work (PoW) mining. A computer calculation used to create and verify a new group (or block) of trustless transactions on a decentralized ledger (or blockchain). PoW mining creates new ₡CCX currencies by rewarding miners for completing the calculation. 100% of the block reward goes to miners.

Cold Staking (or Banking Deposits). A form of passive interest income generated on a timed deposit and earned when the deposit matures.

The chart below visually details the emission (depicted in red) of the number of coins (on the vertical access) and the time duration (in months) of both PoW mining (depicted in green) and Cold Staking/Banking Deposits (depicted in blue).  

The block reward will continue to rise (at 0.25 ₡CCX per month) until reaching the maximum (capped at 15 ₡CCX per block). The maximum of 15 ₡CCX per block will be achieved in 3½ years (or 41 months). Once the maximum of 15 ₡CCX per block is achieved, a gradual descending mining block reward will begin (at 0.10 ₡CCX per month) until 6 ₡CCX per block is achieved in 11 years (or 131 months).  

The compounding interest paid through Cold Staking/Banking Deposits in the main chain will terminate long before achieving the maximum supply of 200M. Existing interest rates will continue for 30 years (or 360 months). Cold Staking/Banking Deposits are intended to be an incentive during the ascending mining block reward curve to keep the circulation supply low. Banking deposits are unique and are described in detail (below).

This emission plan, combined with the maximum supply remaining unchanged at 200M, allows miners to be rewarded for over 100 years and deposits extended for 30 years. 

The whole economic ecosystem (PoW mining​​​​​​​ and Cold Staking/Banking Deposits) was carefully designed to assure an equitable distribution of ₡CCX for generations to come.

For the complete emission table please click here.

Block Rewards

Conceal has a very unique block reward scheme that increases to a max block reward, instead of decreasing as in most other PoW coins. With this simple and logical approach we avoided the unfair enrichment of early miners during the initial stages of the project where mining difficulty is low and successfully reached one of the lowest coin emission curves throughout the crypto space without affecting mining profit. Conceal.Network miners get 100% of the PoW mining fees.

Fees

Transactions

Send Receive
0.000100 CCX 0 CCX

Messages

Send Permanent Message Self Destructive Message Receiving Encrypted Messages
0.001000 CCX + (0.000010 per char) 0.000100 CCX 0 CCX

Banking

Deposits Withdrawals
0.001000 CCX 0.000100 CCX

Additionally, blocks can generate coins as Banking deposits mature. Lets describe how Banking deposits work.

Cold Staking (or Banking) is created by an issuance of a Time Locked Contract (TLC).

This contract is a type of transaction that includes an amount to be deposited of ₡CCX, a destination key, and a length of time (expressed in weeks and blocks) to lock. Once the transaction is completed, it contains the field unlock time and output-specific parameters and is included in the blockchain, as usual. When the TLC expires the total transaction amount will be earned (the original amount deposited of ₡CCX along with generated interest). Everything happens privately over the Cryptonote Protocol.

So in layman terms, when you deposit your ₡CCX coins, a TLC contract is created and stored on the blockchain and your ₡CCX coins are locked for the duration you selected. When that block is reached the coins are unlocked and the block creates additional ₡CCX (as much as your deposit generated) in addition to the mining block reward. As an example, lets say the current block reward is 15 ₡CCX and your deposit generated 200 ₡CCX in interest. The block where your deposit matures will generate 215 ₡CCX in total.

Premine

Our community premine is 6% of the maximum supply. The community funds are locked over a 5 year period. Every quarter (3 months) a bank of 400k ₡CCX is released to cover operation expenses, exchange listings, marketing and to pay collaborators.

The premine belongs to the community, as this is a community project. Through collaboration, anyone can earn ₡CCX by helping the project grow and evolve. The team only manages the premine as they manage the project. In fact, this wiki was made by community members and they were paid in ₡CCX for creating and maintaining it.

People can also get a ₡CCX grant by applying to ₡CCX Labs. This ₡CCX grant helps run their own projects in the Conceal.Network environment. Labs funded projects are on-going and voted on by the community and are funded by ₡CCX premine.

You can also audit how the premine is spent here: https://explorer.conceal.network/index.html#funds. There is also verification to show how much funds the project wallet holds at any given time. Our focus is to be as transparent as possible.

Premine batch unlock dates:

Metrics

Main Unit:*1.000000 CCX = 1,000.000 CX = 1,000,000 X

Point Unit: 1.000000 X = 0.001 CX = 0.000001 CCX

Official e-Mail

Exchanges

Hotbit: https://www.hotbit.io/ (Pair: $BTC)

TradeOgre: https://tradeogre.com/ (Pair: $BTC)

Stex: https://stex.com (Pair: $BTC)

Citex: https://www.citex.io/#/trade/CCX_BTC (Pairs: $BTC & $ETH)

Graviex: https://graviex.net (Pairs: $BTC)

FinexBox: https://finexbox.com (Pair: $BTC)

Sistemkoin: https://sistemkoin.com/#/ (Pairs: $BTC, $ETH, $TRY, $USD & $EUR)

Altilly: https://www.altilly.com/ (Pairs: BTC$, $ETH, $USDT)

ProBitEx: https://probitex.com (Pair: $BTC)

Azex: https://www.azex.io/ (Pair: $BTC)

Media Articles

Team Members

  • FOUNDER & OPS MANAGEMENT: krypt0x (aka 0x)
  • LEAD DEVELOPER: katz
  • CLOUD ENGINEER: ZeMaNel
  • MACROECONOMICS DESIGN: MaDMAx
  • PR & MARKETING MANAGEMENT: okanist (aka Okan)
  • JAPANESE AMBASSADOR: スピンドル玲奈《漢》
  • DEVELOPER: bomb-on
  • DEVELOPER: Taegus
  • DEVELOPER: Alex Stanford (HashOfZorro)
  • PR & MARKETING: boot2thrill (aka boots)

Media Content