Topic: [ANN][BOUNTY][AIRDROP]⚡️ Electronero ⚡️ ASIC Resistant Electroneum HardFork - page 31. (Read 487062 times)

PLEASE BE AWARE OF THE RUMORS !!! OUR OFFICIAL WEBSITE IS ELECTRONERO.ORG
ELECTRONERO (ETNX) IS NOT AN ETHER TOKEN. BEWARE OF ETHERDELTA!
The ETNX community operates ELECTRONERO.ORG ELECTRONERO.NET ELECTRONERO.COM ELECTRONERO.INFO

Remember to be safe and come ask us anything you like on Telegram. ETNX is a Hard Fork of Electroneum and ETNX is a CryptoNote based on XMR Lithium Luna v0.12.2 with many improvements from inspiration from Sumokoin and the ideas and concerns raised about by the community.

INTRODUCTION
Electronero  (ETNX)


Electronero is  a  fork  from  Electroneum  (ETN)  made  by  the  community,  for  the  community beginning building from Monero source v0.12.2 Lithium Luna, one of the most respectable cryptocurrency well-known for security, privacy, untraceability and active development. Starting as an educational project, we found that it would be great to create a new coin with high level of privacy by (1) moving forward right away to Ring Confidential Transactions (RingCT), (2) setting minimum transaction mixins to 12 that would make it high resistance to blockchain analysis attacks..  We found that some of the features of Sumokoin were also interesting to us such as the "bitcoin-like" Camel emission, rather than a traditional Elliptical emission curve. So we implemented that. We also adapted the LWMA as we were advised by mathematician and blockchain theorist Zawy has researched this new difficulty algorithm extensively. Public Testnet launch is debuted at block height 280,000. The hard fork  will occur at block height  307,000  and  all  owners  of  Electroneum  will  be  de  facto  owners  of  Electronero.  The  codebase  for  this  project  is  the  Monero Lithium Luna v0.12.2+ release  core  code  to  which  a  lot  of  modifications  are  being  made  in  order  to  provide  a  better,  more  reliable  platform  to  current, past Electroneum and future Electronero  users. Cryptocurrencies  have  attracted  substantial  attention  over  the  past  few  years  bringing  millions  of  new  users  into  the  market  dramatically  increasing  demand,  market  value,  and  daily  activity.  With  such  an  increased  demand  comes  a  big  responsibility  on  cryptocurrency  developers  to  ensure  they  are  delivering  the  most  stable  platform  to  their  users  allowing  them  complete  freedom  of  access  to  their  funds.  Read the whitepaper  where some community members have  detailed  the  basis  for  our  fork,  the  ethical  standards  that  are  to  be  upheld  in  the  fork’s  environment  as  well  as  technical  details,  our  roadmap  and  plans  for  the  future  of  Electronero.

Additional Specifications

[1] CPU + GPU mining (about 1:1 performance for now). Memory-bound by design using AES encryption and several SHA-3 candidates.
[2] Initial number of atomic units is M = 264 - 1. However, once the block reward reaches 0.3 ETNX per minute (sometime in 2030) that is treated as the minimum subsidy, which means that Electronero's total emission will forever increase by ~157680 ETNX annually.
[3] Uses a recurrence relation. Block reward = (M - A) * 2-20 * 10-12, where A = current circulation.


FAQ
For a longer FAQ, check Community FAQ

Electronero is Based on CryptoNote Technology
What is CryptoNote?
CryptoNote is the technology that allows creation of privacy-centric cryptocurrencies. You can visit their website at cryptonote.org. The level of anonymity provided by CryptoNote isn't possible with Bitcoin code base by design. Bytecoin (BCN) was the CryptoNote reference implementation, and Monero (XMR) based their sources on BCN. Electronero (ETNX) is based on XMR's code.

Two of the main features of CryptoNote are ring signatures that mask sender identities by mixing and one-time keys that make transactions unlinkable. Their combined effect gives a high degree of anonymity without any extra effort on the part of the user.

Unlike Bitcoin, your funds are not held in the address you give out to others. Instead, every time you receive a payment it goes to an unlinkable address generated with random numbers. When you decide to spend the funds in that one-time address, the amount will be broken down and the components will be indistinguishable from identical outputs in the blockchain.

For example if 556.44 ETNX are sent, the protocol will break it down into 500 + 50 + 6 + 0.4 + 0.04 and a ring signature will be performed with other 500's, 50's, 6's, 0.4's, and 0.04's in the blockchain. Unlike the "CoinJoin" mixing method, CryptoNote mixes outputs not transactions. This means no other senders need to be participating with you at the same time or with the same amounts. Any arbitrary amount sent at any time can always be rendered fundamentally indistinguishable (a mathematical proof is given in the white paper).

The degree of anonymity is also a choice rather than decided by the protocol: do you want to be hidden as one among five or one among fifty? The size of the signature grows linearly as O(n+1) with the ambiguity so greater anonymity is paid for with higher fees to miners.

Ring signatures are explained below. Reproduced from CryptoNote:

A normal signature looks like this. There's only one participant, which allows one-to-one mapping.



A ring signature obscures identities because it only proves that a signer belongs to a group.



This allows a high level of anonymity in cryptocurrency transactions. You can think of it as decentralized and trustless mixing.



How does this compare to other anonymous solutions?
Ring signatures originate from the work of Rivest et al. in 2001 and the implementation in CryptoNote relies in particular on Fujisaki and Suzuki's work on traceable ring signatures. There are two other anonymity implementations currently available or in development. One is ZeroCoin/ZeroCash's use of zero-knowledge proofs. The others are based on gmaxwell's CoinJoin idea (such as mixing services for Bitcoin or the altcoin Darkcoin).

1. Comparison with ZeroCoin and ZKP-based approaches:
You can read about ZeroCoin and zero-knowledge proofs (ZKP) here. The ZK environment allows an anonymity set that includes everyone in the network because the validity of an output can be proven without knowing the corresponding public key until it is spent. The largest risk is that this is recent research-level cryptography that hasn't been subjected to years of cryptanalysis, so exploits may emerge down the road. Ring signatures are much simpler and more mature, with many peer-reviewed papers published over more than a decade.

Other issues with ZKP include the RSA private key used to initiate the accumulator, which must be trusted to be destroyed by the generating party. It also obscures the entire economy, not just sender/receiver identities. If the ZK system is compromised, then an attacker can continuously spend coins that don't exist using false proofs. This damage is hidden from everybody due to total blinding and consequently at any given time it's not possible to know if the network has already been compromised. There is a tradeoff between these inherent risks and the maximal anonymity set provided by ZKP. CryptoNote aims for a different balance through the dual layers of privacy provided by one-time keys and ring signatures.

2. Comparison with CoinJoin-based approaches:
XMR is more qualitatively similar to mixing implementations like CoinJoin. The differences arise in the departure from the Bitcoin protocol, which allows ETNX to use new cryptography to provide decentralized and trustless mixing of superior quality. The critical problem with mixing services is the need to trust the operators. As an example, blockchain.info's mixer gives the following disclaimer: "However if the server was compromised or under subpoena it could be force to keep logs. If this were to happen although you haven't gained any privacy you haven't lost any either."

The CoinJoin-inspired Darkcoin performs mixing with selected "masternodes" since it still uses ordinary signatures that can be mapped one-to-one. The motivation is that a randomly selected node is less likely than a single service to exhibit bad faith (such as keeping logs) . In practice, a few VPS companies host the vast majority of nodes and this approach relies on the integrity and good behavior of these nodes. ETNX's more fundamental cryptographic approach doesn't have these vulnerabilities and the quality of anonymity is much higher.

ETNX's ring signatures are also far more secure and convenient than CoinJoin because they mix outputs not transactions. This means a transaction doesn't involve waiting around for other senders to mix with. Nor is a user restricted to mixing only if others are sending the same amount. Arbitrary amounts can be sent at any time without anyone else's participation. This feature makes a timing analysis of the blockchain useless.

Overview of a transaction
Bob decides to spend an output, which was sent to the one-time public key. He needs Extra (1), TxOutNumber (2), and his Account private key (3) to recover his one-time private key (4).

When sending a transaction to Carol, Bob generates its Extra value by random (5). He uses Extra (6), TxOutNumber (7) and Carol's Account public key ( to get her Output public key (9).

In the input Bob hides the link to his output among the foreign keys (10). To prevent double-spending he also packs the Key image, derived from his One-time private key (11).

Finally, Bob signs the transaction, using his One-time private key (12), all the public keys (13) and Key Image (14). He appends the resulting Ring Signature to the end of the transaction (15).