Topic: Coinjoin vs stealth transactions - darkcoin vs bitshares (Read 1353 times)

Yeah, surprisingly there doesn't seem to be basic blockchain information available anywhere.

Anyway.

Bitshares has a supply of 2.5 billion BTS, with a maximum of 3.7 billion.

The consensus algorithm is delegated proof of stake, which is a variant of proof of stake where people vote for 101 delegates who act as a kind of "PoS pool" that create the blocks. Whitepaper: https://bitshares.org/blog/delegated-proof-of-stake/

The block times are 10 seconds, with little variance because the delegates can control who is next in line. Transactions are secured after 1 confirmation so average confirmed transaction time is 5 seconds.

The system has TITAN transactions which is a combination of registered names (so sending is as easy as email) and stealth transactions (which don't really have that great anonymity compared to darkcoin, as mentioned here, but still offer some advantages over bitcoin).

The most important feature of the system is market pegged assets: They are a type of smart contract that creates what can best be described as a fungible contract-for-difference that is collateralized by 300% of its nominal value in BTS (the core token) and locked verifiably on the blockchain. This creates a series of assets with stable values pegged to the price of their underlying assets, such as bitUSD (https://bter.com/trade/btc_bitusd) or bitGOLD (https://bter.com/trade/bitgld_btc). These assets work just like bitcoin, but have a stable price and are completely free from counterparty risk so if you hold the private keys for them they are totally safe. They give value to bitshares because they increase demand for the collateral and thus if they become widely used the price of BTS will also increase. Whitepaper: http://docs.bitshares.org/content/

There is also a decentralized exchange that works pretty much like other decentralized exchanges, such as the NXT asset exchange. In addition to trading the market pegged assets mentioned above there are also UIA - user issued assets. These assets are just like NXT assets and can be used as gateway IOU's (like ripple) or can be used as cryptostock for crowdfunding. The biggest difference is that the UIA on bitshares are usually traded in bitassets so their price can be more stable since they are not affected by the volatility of BTS itself.

Finally the elected delegates that produce blocks can be elected by stakeholders to get a salary, and this can be used as a decentralized funding mechanism for further development that avoids single points of failure like the bitcoin foundation. There are currently 18 developer delegates, 9 marketing delegates and 2 delegates that subsidize infrastructure (tradebts and DACX). You can see all the employee by sorting by payrate here: http://bitsharesblocks.com/delegates those with 100% payrate are employees while those with 3% payrate are regular block producers.

Bottom line -- you want to buy BTS. BTSX was just the old name of BTS, so forget that one exists. PTS was used basically as an IPO-coin to initially distribute BTS in a fair manner, and is being kept alive for whatever reason by third party developers, but really has no relation to BTS anymore.

I know a lot of the naming conventions sound confusing, but when you look at it this way it's pretty simple -- just buy BTS (or BitUSD, BitGold, etc if you're interested in a stable/pegged crypto).

I do wish there were some kind of ann thread here for BTS, but really all of the meaty conversations are happening at bitsharestalk.org.

to answer the op's question...

Darkcoin's darksend is the clear winner on this front IF this is your only concern.

This is coming from a bitshares guy.


Now if you want to throw other things into the mix like market pegged assets backed by collateral.

The ability to self fund via 100% paid delegates(should also mention that share supply is effectively still hard capped via block reward halving).  

A platform that gives you the freedom to move from cny,usd,gold,silver,bitcoin all while earning interest.Never mind trading features like shorting.

10 sec block times with a avg confirmation time of 5 sec https://bitsharesblocks.com/ or crowd funding options via user issued assets.



But yes as it sits today Darkcoin is more anonymous imho.

main problem with bitshares is : it's too complicated.
it's my own opinion, but i wanted to invest in it few days ago and tried to get more informations.... but i resigned
there isn't an official ann thread here, i couldn't find any clear coin specifications,
i was lost between what is bitshares, bitsharesX, pts, etc. etc..etc.... 
WTF so complicated?  is that coin only for the tech nerds? 
make it simple... or at least keep it complicated for the insiders, but build a simple cover for newcomers that aren't such tech-hardcore
this stuff exist already? cool.... please post the link and i will check again cuz i'm still interested

Most major crypto's have their fair share of screw ups, but they move on and keep innovating  Nxt had aweful distribution, but it kept developing and has now gained more respect.  Maidsafe screwed up their IPO but are high respected, Ripple is centralised and can dump billions of xrp on the market at any time but still is thriving, bitcoin has satoshi with his million coins had and its price pumped by mtgox as revealed by the Willy report so no one knows how much it is worth, but is still spreading like a tidal wave. They all have problems, none are perfect.  Don't miss the forest for the trees.  BitShares is making new progress all the time, bridges, new releases, new partnerships.  It's time to stop looking at the past and see what is actually available now.

The tech WAS attractive when Bytemaster eagerly explained how cryptocurrency can evolve to attain stable price at the early times (What a fond memory!!).
But later, their team began to squeeze future participants by first introducing AngelShares (direct funding for development, the former plan was to be fully mined by CPU-PoW which runs for years), then arbitrary changed the funding period (the funding started on 2014-01-01, the deadline changed to 2014-02-28, former plan was to last for about half a year), and ended an initial distribution phase.
Furthermore, because their team can no longer squeeze future participants by limiting purchasing opportunity, they changed the very cap of long-stated hard-limit money supply (about little less than 2x dilution) and they started to squeeze the current holders'/supporters' shares in the system!!
This act affected severely the long-term trust in the system because it showed whenever Bytemaster wanted to get money (for developing purposes), he can easily change the cap of the system and screw the current holders!
And I feel that Bytemaster's idea is good but his team's competency of execution (of that idea) is insufficient.
This is unfortunate but the reality is harsh. I hope Bytemaster learns from the past and never to invite turmoil in the futhre.
And if you go to bitsharestalk.org you can see everyone is desperate and looking for EXIT (this is surprising compared to the past optimism).
TLDR; Bitshares' idea was bright but the competency of execution is no good, the future is especially uncertain, if you're interested be CAUTIOUS!

It's depends from level of anonymity which you a looking, BitShares uses this technology: http://wiki.bitshares.org/index.php/TITAN

you are kidding about calling bitshares anonymous right?

Darksend is to coinjoin what the Tesla Model S is to the Ford Model T. 

If this is the case, given that your name has PR in it, maybe you should buy it up and then perform some competent PR.

LOL   good one 

Bitshares is better since it has bitUSD, which means it has both anonymity and price stability. If you want to actually do commerce rather than speculation you need a unit of account that doesn't swing wildly in value.

Bitshares is so undervalued its almost hilarious. Best tech of any altcoin with the most horribly failed marketing and PR.

Bleak future ahead for those who dont know the answer is something else

After the recent crazy bull run of darkcoin, the two coins sitting on number 4 and 5 on coinmarketcap both offer their own version of anonymous transactions to cater to those who want privacy. Darkcoin uses coinjoin with its darksend feature, and bitshares uses stealth transactions with TITAN (transfer invisibly to any name).

As I understand it coinjoin is basically every time you send a transaction, the transaction is mixed together with other people who are sending transactions. Stealth transactions means that every time you send to an address, you actually generate a new public key for the receiver so addresses are never reused.

What are the pros and cons of each kind of anonymous transaction, and which one is better overall?