Conceal Wiki

Differences

This shows you the differences between two versions of the page.

Link to this comparison view

Both sides previous revisionPrevious revision
Next revision		Previous revision
Next revisionBoth sides next revision
about [2019/12/03 11:42] – [Team Members] zorroabout [2020/05/20 16:15] – [Conceal Emission] boot2thrill
Line 1: Line 1:
 ==== What is Conceal? ==== ==== What is Conceal? ====
  
-Conceal.Network is a decentralized blockchain bank, with deposits and investments paying interest rates, without involvement of financial institutions, powered by 100% open source code.+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 money or messages when the messages are sent across public networks.+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.
  
-Conceal Cryptocurrency (₡CCX) is based on the Cryptonote protocol and runs on a secure peer-to-peer network technology to operate with no central authority. You control the private keys to your funds.+(₡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 is accessible by 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 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 avoids many concerns, e.g. technological, environment impact, reputation and security, of Bitcoin, and provides a glimpse of the future. +Conceal.Network avoids many Bitcoin concerns (e.g. technological, environmental impacts, reputation and security) and is an excellent private alternative store of value.
- +
-Conceal is open-source, community driven and truly decentralized. +
- +
-No one owns Conceal, everyone can take part. +
- +
- +
-This is the main source of documentation for users of Conceal Cryptocurrency. For more information on the project, please visit our **[[https://conceal.network|website]]**.+
  
 === Privacy Oriented Cryptocurrency === === 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.+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 ==== ==== Main Features ====
  
 | **Anonymous Banking** | **Encrypted Messages** | | **Anonymous Banking** | **Encrypted Messages** |
-| Deposits form the backbone of the Conceal ecosystem, providing users with an egalitarian form of staking that earns interests on locked deposits. Conceal Investments provide higher interest returns for longer term holders. | 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. |+| 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**     | | **Anonymous Payments**    | **Unlinkable Transactions**     |
-| Conceal uses ring signatures and one-time addresses for truly anonymous payments | Conceal's transactions can't be linked between the sender and the recipient. | +| 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** | **Adaptive Limits** | +| **Protected Proof Of Work** | **Dynamic Adaptive Limits** | 
-| PoW hash function is designed for egalitarian CPU & GPU mining and ASIC Resistance. | Conceal intelligently adjusts its parameters based on the historical data. |+| 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** | | **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 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. |
Line 35: Line 28:
 ==== Legal Disclaimer ==== ==== Legal Disclaimer ====
  
-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 block-chain, and, if the suggestion is voted by a majority of people, the changes are then implemented.+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 intended to be a community project not a commercial product and it relies on the good will of the volunteers involved.  +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.  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. 
Line 49: Line 42:
 | Name | Ticker | Symbol | | Name | Ticker | Symbol |
 | Conceal | CCX | ₡ | | Conceal | CCX | ₡ |
-| Mining Algo | Diff | Privacy | +| Block Time | Decimal Places | Transaction Fees  | 
-| Cryptonight Conceal | Zawy's LWMA3 | Ring Signatures and One-Time Addresses | +| 120s | 6 | 0.0001 ₡CCX  | 
-| Max Supply | Deposits | Investments | +| Mining Algo | Difficulty | Privacy | 
-| 200M CCX | Up to 4.16% interest rate per year | Up to 7.32% interest rate per year (36.62% max term) |+| 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 | | Messenger | Block rewards | Address Format |
-| Encrypted Messages and Self Destructive Messages | Starting on 5 CCX and going up to 20 CCX (+0.25 CCX/month). Currently 8 CCX. | String of 98 characters starting with "ccx7" |+| 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". |
  
-==== Emission and coin dynamics ====+==== Conceal Emission ====
  
-Coin emission comes from two sources. +Conceal coin (₡CCX) emission is generated from two distinct sources:
  
-  - Mining (100% of block reward goes to miners) +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.
-  - Deposits generating interest when they mature+
  
-Mining works as in any PoW coin. but deposits are unique as described bellow. The whole emission was carefully designed as the whole economic of the coin by people who know what they are doing. Here you can see simulated emission in the mathlab for the whole life cycle of the project.+Cold Staking (or Banking Deposits). A form of passive interest income generated on a timed deposit and earned when the deposit matures.
  
-{{ :emmision.png?direct&600 |}}+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).  
  
-==== Block rewards ====+{{ :new_emission_curve.png?direct&600 |}}
  
-Conceal has a very unique block reward scheme that increases to a max block reward instead of decreasing as in most other coins. This is because we do not want to penalize the late comers and reward only early investors. The emission is slow so this does not increase inflation by much.+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 __[[emissiontable|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.
  
-{{ :ccx-block-reward.png?direct&600 |}} 
  
 ==== Fees ==== ==== Fees ====
Line 87: Line 92:
 **Banking** **Banking**
  
-| Deposits | Investments | Withdrawals | +| Deposits | Withdrawals | 
-| 0.001000 CCX | 0.001000 CCX | 0.000100 CCX |+| 0.001000 CCX | 0.000100 CCX |
  
-Miners get 100% of the fees. The block can generate extra coins when the deposit or investment matures. Lets describe how deposits and investments work.+Additionally, blocks can generate coins as Banking deposits mature. Lets describe how Banking deposits work.
  
-they are TLC (Time Locked Contracts)+Cold Staking (or Banking) is created by an issuance of a Time Locked Contract (TLC).
  
-The contract consists in a new type of transaction inputs/outputs. It includes amount, destination key and time (expressed in blocks) to lock. Transaction itself contains the field unlock time and output-specific parameters and is included in the blockchain as usual. When the lock time expires the transaction amount will be added with the interest earned giving a new total. +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.
-Everything happens privately over the Cryptonote Protocol.+
  
-So in layman terms when you deposit your coins, a TLC contract is created and stored on the chain and your coins are locked for the duration you selected (until a specific block as calculated from the duration). When that block is reached the coins are unlocked and that block creates additional CCX (as much as your deposit generated) on top of the mining block reward. So lets say a current block reward is 20 CCX and your deposit generated 200 CCX interest. So the block where your deposit matured will generate 220 CCX in total.+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 ==== ==== Premine ====
  
-Our premine is 6% of the maximum supply. The funds have been locked over a 5 years interval. Every quarter (3 months) a batch of 400k CCX is released to cover operation expenses, exchange listings, marketing and to pay collaborators.+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 belong to the community as this is a community project. Through collaboration anyone can earn CCX by helping the project grow and evolve. The team is only managing the premine as they manage the project. In fact this wiki was made by community members and they were paid in CCX for making it. +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 CCX for applying to the CCX Labs and running their own projects in the conceal network environment. As we speak projects are being made by the community and funded by CCX premine.+
  
-You can also check how the premine is spent here: [[https://explorer.conceal.network/index.html#funds|https://explorer.conceal.network/index.html#funds]]. There is also verification to show how much funds the project wallet holds at each given time. We try to be as transparent as possible.+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.
  
-Premine batches unlock dates+You can also audit how the premine is spent here: [[https://explorer.conceal.network/index.html#funds|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.
  
-{{ :preminedates.png?direct&600 |}}+Premine batch unlock dates: 
 + 
 +{{ :reserve_fund_update.png?direct&600 |}}
  
 === Metrics === === Metrics ===
Line 196: Line 201:
  
 **Altilly**: https://www.altilly.com/ (Pairs: BTC$, $ETH, $USDT) **Altilly**: https://www.altilly.com/ (Pairs: BTC$, $ETH, $USDT)
- 
-**LetsDoCoinz**: https://letsdocoinz.com (Pair: $BTC) 
  
 **ProBitEx**: https://probitex.com (Pair: $BTC) **ProBitEx**: https://probitex.com (Pair: $BTC)
  
 **Azex**: https://www.azex.io/ (Pair: $BTC) **Azex**: https://www.azex.io/ (Pair: $BTC)
 +
 +==== Media Articles ====
 +
 +[[Media|Media Content]]
  
 ==== Team Members ==== ==== Team Members ====
Line 214: Line 221:
   * DEVELOPER: Taegus   * DEVELOPER: Taegus
   * DEVELOPER: Alex Stanford (HashOfZorro)   * DEVELOPER: Alex Stanford (HashOfZorro)
 +  * PR & MARKETING: boot2thrill (aka boots) 
 +[[Media|Media Content]]