OK due to many fuds I re-open this thread as self-mod thread and closed the old thread. All fuds and unreasonable posts (such as personal attacks) will be removed.
My purpose is not to attack any coins. My purpose is to seek the truth, as I myself am interested in the trustless anonymous transaction system. So please, state your facts, let's discuss, and let's understand the truth.
Well Cloakcoin claimed that their PoSA is a trustless system, but I read their whitepaper in the thread:
https://bitcointalksearch.org/topic/ann-cloak-cloakcoin-no-premine-x13-decentralized-market-and-posa-637704
It seems to me that this is not at all a trustless system. The reason is that the "elected" nodes have no restrictions at all to follow the rules (i.e. send coins to destination etc), he can change at will the transaction or even steal the coins. So the PoSA is a poorly designed trust system, which trust the "elected" node. Only until they cheated, they may be banned.
Creating addresses is easy, so a cheater can simply create a new address, cheat once, then move to another address and cheat again. PoSA is not a trustless system.
On the contrary, Supercoin is creating a trustless system by using multisig addresses and transactions. To be a trustless system, you must give restrictions to the middle nodes, so they must follow the rules. From what I read, the SuperCoin achieves this by creating multisig address, as an escrow, each party including middle nodes, have assets in the escrow, so they can't cheat, or they may lose the assets in escrow, which may be bigger than what they cheat.
I am not associate with Supercoin or Cloakcoin, the reason I do not post these in Cloakcoin's thread is because their thread is self-mod, so they can delete anything at will.
I welcome Cloakcoin dev to discuss here and prove me wrong, as although I am pretty experienced and understand most altcoin details, I could be wrong. But from what I read, I am pretty sure that Cloakcoin PoSA is not a trustless system, but a poorly designed trust system.
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