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about [2019/12/15 12:09] – boot2thrill | about [2020/05/20 16:15] – [Conceal Emission] boot2thrill | ||
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==== What is Conceal? ==== | ==== What is Conceal? ==== | ||
- | Conceal.Network is a decentralized blockchain bank, with deposits | + | Conceal.Network is a decentralized blockchain bank, with deposits paying interest, without the involvement of financial institutions, |
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.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. | ||
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=== 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, | + | Conceal is an open source, privacy protected, peer-to-peer digital cash system. It's untraceable and completely decentralized, |
==== 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. | + | | Deposits form the backbone of the Conceal ecosystem, providing users with an egalitarian form of staking |
| **Anonymous Payments** | | **Anonymous Payments** | ||
- | | Conceal uses ring signatures and one-time addresses for truly anonymous payments | Conceal' | + | | Conceal uses ring signatures and one-time addresses for truly anonymous payments | Conceal' |
- | | **Protected Proof Of Work** | **Adaptive Limits** | | + | | **Protected Proof Of Work** | **Dynamic |
- | | PoW hash function | + | | Our own decentralized, |
| **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. | | ||
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| 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 |
- | | 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 | ||
+ | | 200M ₡CCX | __**Tier 1**__: Principal <10,000 (Base APR 2.90%/Max EAR 4.00%) __**Tier 2**__: Principal > | ||
| 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/ | + | | Encrypted Messages and Self Destructive Messages | Starting on 5 ₡CCX and going up to 15 ₡CCX (+0.25 ₡CCX/ |
- | ==== Emission | + | ==== Conceal |
- | Coin emission | + | Conceal coin (₡CCX) |
- | - 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. | + | 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 Deposits). A form of passive interest income generated on a timed deposit and earned when the deposit matures. | + | |
- | Mining works as in any PoW coin. Deposits | + | Cold Staking (or Banking |
- | {{ :emmision.png? | + | 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/ |
+ | |||
+ | {{ :new_emission_curve.png? | ||
+ | |||
+ | 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/ | ||
+ | |||
+ | 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/ | ||
+ | |||
+ | For the complete emission table please __[[emissiontable|click here]]__. | ||
==== Block Rewards ==== | ==== Block Rewards ==== | ||
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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. | 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 ==== | ==== Fees ==== | ||
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**Banking** | **Banking** | ||
- | | Deposits | + | | Deposits | Withdrawals | |
- | | 0.001000 CCX | 0.001000 CCX | 0.000100 CCX | | + | | 0.001000 CCX | 0.000100 CCX | |
- | Additionally, | + | Additionally, |
- | Cold Staking (or Deposits) are created by an issuance of a Time Locked Contract (TLC). | + | 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. | 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 20 ₡CCX and your deposit generated 200 ₡CCX in interest. The block where your deposit matures will generate | + | 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 |
==== Premine ==== | ==== Premine ==== | ||
- | Our premine is 6% of the maximum supply. The 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. | + | Our community |
- | The premine belongs to the community, as this is a community project. Through collaboration, | + | The premine belongs to the community, as this is a community project. Through collaboration, |
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. | 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. | ||
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You can also audit how the premine is spent here: [[https:// | You can also audit how the premine is spent here: [[https:// | ||
- | Premine | + | Premine |
- | {{ :preminedates.png? | + | {{ :reserve_fund_update.png? |
=== Metrics === | === Metrics === | ||
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**Altilly**: | **Altilly**: | ||
- | |||
- | **LetsDoCoinz**: | ||
**ProBitEx**: | **ProBitEx**: | ||
**Azex**: https:// | **Azex**: https:// | ||
+ | |||
+ | ==== Media Articles ==== | ||
+ | |||
+ | [[Media|Media Content]] | ||
==== Team Members ==== | ==== Team Members ==== | ||
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* DEVELOPER: Taegus | * DEVELOPER: Taegus | ||
* DEVELOPER: Alex Stanford (HashOfZorro) | * DEVELOPER: Alex Stanford (HashOfZorro) | ||
+ | * PR & MARKETING: boot2thrill (aka boots) | ||
+ | [[Media|Media Content]] |