Topic: [ANN][XCN] Cryptonite | 1st mini-blockchain coin | M7 PoW | No Premine - page 84. (Read 578565 times)

Also it is important to note that it is optional. Like using 2FA, you are not forced to if you dont want an extra step.

Since I actually forced myself to read and understand his paper (and I repeat that he should make it easier for people to understand if he wants people to understand), I'll explain it.

If you trust the sender not to double spend, then you don't need to put the transaction on the blockchain at all. You can just pass the signed tx along as a bearer instrument to someone else, entirely off the blockchain. If they trust you, then they may accept it without commiting it to the blockchain, and so on. At which point the transaction is far removed from the original spender.

As far as I can tell, that's the only way transactions get unlinked.

I don't really find this compelling, because the trust premise seems largely if not entirely implausible to me, but given the spending limits in XCN it could possibly have some workability. If the spending limit is deep enough (as in really f'n deep) then maybe you trust the sender and just pass the transaction along. And then maybe the recipient sees that deep spending limit still there and passes it along again. Maybe. This assumes (somewhat, at least) spending limits are secure.

James does have a valid point that it just adds to what a coin already does, so it can't hurt (other than adding extra complexity and resource usage and therefore cost, but perhaps that would be small). Worst case everyone just submits the bearer instruments to the blockchain as normal transactions without passing them around.

if there is a tx on the blockchain from a fresh acct and no history, all you can do is trace back until you finally get to the initial creation of the input. So the identity of this initial creation of the telepod can be identified. Now, if they are funding using an anon coin, mixers, etc. it is possible to not even be knowing this, but this is a separate issue.

going back to the transfer. The part that is at first not easy to understand is that since the receiver of the telepod controls the timing (or even whether to clone), there is not even a 1:1 correlation between transfers and blockchain events. Even without trusted teleports and a 1:1 correlation, the identity of who is controlling the new acct is unknown. Short of announcing, "hey I just make the tx with txid", how will anybody know who made it?

Extracting the telepods back to the public blockchain is tricky, but for that we are making an anon debit card, so you just send to the card and extract funds from ATM in fiat cash or just use it for online purchase. No personal info is needed for the anon debit card. Alternatively, you can sell back the telepod to its original creator (it is expected there will be vendors of telepods) and when this is done, it is either resold or if it is withdrawn to the public blockchain all that is seen is a loop of tx that starts and ends with the same person.

I hope that makes sense. I tried to use the pirates to explain more clearly in the DarkPaper

James

Well I guess my point was, if normal transactions are happening at the end of the day, it's not clear how the tx's are delinked so that you cannot follow the flow of coins. I guess it has something to do with the way transactions are handled offline, but I'm having a hard time understanding it. It would help if you could explain that part of it in more detail, using terminology generally used when talking about offline transactions.

That is a pretty nice feature, wish I had of known about it earlier though. Lol.

Besides,you can also take interest for xcn, too.

How to take your interests on Bter

Sending coins to Bter can receive daily interests, which is from Bter’s trading fee.

You can take your interest every 24 hours by visiting Account > My Interest https://bter.com/myaccount/interest page and clicking “take interest”button to take it.

If you do not take your interest dailt, it will not accumulate.

After taking the interest, a record will be listed on the My Daily Interest page. And the interests will be added to your coin balance for the specific asset.

Please also note 1 % bonus will be granted when you deposit xcn on Bter.   

How to Use Bter Code Option

On the withdrawal page, you will see a”Bter Code” option. You can withdraw any asset on your balance as Bter code

by checking the box besides it. No fee will be charged. The withdrawal option is only applied to transfer asset

among Bter users. If you want to send coin to a specific account outside Bter, you may not chose this option.

If you want to transfer any asset from one Bter account to another Bter account or the same account, you may use the

Bter code option.

Just copy the code generated on the withdrawal record and enter it to the Redeem Bter Code page (Account > Bter Code

Redeem). Then the asset represented by the code will be credited to the account balance.

Teleport can be viewed as like a 2FA, it adds to whatever security a coin already has.

I designed it to be compatible with existing coins, so of course I have to use a normal tx for this.
Teleport is highly resistant to timing analysis. This is due to the anon set being all of the cloning events during the average clonesmear time window. But with the time window different for every user, it is actually not possible to precisely define even the exact members of the potential cloning events to consider. It is probabilistic.

Due to this, the sender enjoys dramatically larger privacy as the anon set is the sum of all cloning events from the time the sender cloned. If you let it age for months, the anon set would be the vast majority of everybody else

This is assuming a 1:1 correlation between teleports and clonings. However, some small fraction will utilize trusted teleports and simply spend what was received without ever hitting the blockchain in any form. Due to this, it will not be possible to even know how many transactions have happened, let alone to correlate it.

Teleport is also designed to be resistant to an attacker that is able to log all traffic from all nodes. In addition to using fully encrypted onion layered packets via random hops of random depth, it is possible to split each teleport into M of N (up to 254) fragments. By using M of around 40%, say 4 hops, then with an 85% randomly generated probability to route the packet, it makes receiving a tx, routing a tx and originating a tx look the same. So, even an attacker with a complete log of all packets between all nodes will have a big challenge to identify which nodes are actually even sending any info to each other. Basically every node will be sending some amount of white noise to all the other nodes.

Teleport is also designed to resist Quantum Computers from the future that can crack today's encryption. The reason is that there is no permanent blockchain to record all tx just waiting to be decrypted. What does not exist cannot be decrypted! Short of the attacker keeping a permanent log of all the M of N onion layered packets or simply confiscating all the users computers to reconstruct the blockchain, I cannot see a way for the encrypted data to be obtained to be analyzed.

So yes, it is quite a long winded way to send a normal tx

And generating new addresses is just one of the smallest details. probably some custom API would be required to minimize the impact on the miniblockchain. I might also need to add some options to the teleport API to not use standard denominations, but that does open up the mantissa attack, so not sure it is a good idea.

James

Making dozens of posts per day answering questions when you could write it up once in a more understandable manner seems like an inefficient use of time. No, it doesn't need to be an academic paper. That has been one criticism, yes, but many others have said that it is simply hard to understand.

EIL5 does not mean using pirate references, princess references, or any other childhood heros or villains. It means make it understandable.

Does anyone have an idea why the pump occurred today?

I can't find reasonable explanation for a rise of 100%, although the dev offered some nice news recently.

Is it pure manipulation going on? After today we are still quite abit over the prices the last couple of days.

It's time to buy more cheap xcn before public amd miner released and the price rise huge high

I don't dislike the name but honestly before checking the thread out and mining some , i thought this coin was a cryptonote coin of some sort. So i hadn't even checked it.
I am sure i am not the only one that thought the same. I only realised it wasn't a cryptonote coin when i saw it added to cuda miner.

Should find a way to make it easy to see it actually is its own coin , changing the name may be difficult but maybe the ann title could be reworked some.
The mini blockchain is awesome , it just is a shame most just pass through without checking the coin up.

I actually did like the pirate descriptions of the way it worked, it was pretty clever I thought.

The one and only!

This. Reminds me of a tech startup where I was involved in 2000. The name had been chosen from the available 5-letter .com domains -- all 4-letter ones were already reserved.

That's a pretty satisfying answer!
At first I didn't like "Cryptonite", but the more I think about it, the more I like it. Plus it gives room for the shortening of just "Crypto", which is a nice and pure description.

Btw, Jungian as in Carl Jung?

http://en.wikipedia.org/wiki/ISO_4217#X_currencies

Why XCN and not CON? I don't really mind, but would be interesting to know why.

It is quite perplexing why James keeps getting the same feedback from different people independently, yet isn't willing to rewrite the white dark paper to make it more comprehensible and get rid of the confusing pirate theme. It is almost as if he wants keep it hard to understand for some reason.

And furthermore, if the name were so bad we wouldn't already have like two or three other projects trying to use it. I had an email from some guy the other day wanting to purchase the name, currency code, and domain from me. I told him 5K for the domain. Lol.