WHAT IS TORCOIN?Torcoin is a cryptocurrency similar to Bitcoin featuring numerous improvements and innovations, such as full integration with the TOR network, stealth sending technology, and complete anonymity.
WHY USE TORCOIN?
TorCoin offers several important features that Bitcoin does not. First, TorCoin rewards people for running a TOR node. Whereas Bitcoin transactions are completely traceable, TorCoin enables you to send coins anonymously. There is never any need to 'mix' or 'anonymize' your TorCoins - they are anonymous by default. TOR is fully integrated with TorCoin, which means that a snoop or attacker watching your internet connection will not know if you are using TorCoin - and other TorCoin users cannot determine the physical location of your Torcoin node. TorCoin also offers encrypted end-to-end messaging between TorCoin users.
TECHNICAL INFO>>> Torcoin is a hybrid cryptocurrency utilizing the X11 hashing algorithm (11 rounds of different hashing functions) with the Proof-Of-Work consensus, transitioning to Proof-Of-Stake after 2 years. Torcoin provides full Tor integration with the Tor Onion network. Stealth addresses are available for the anonymous sending of currency through the network. Encrypted messsaging is also available in Torcoin, enabling users to send encrypted messages to other Torcoin users. A total of 12 million TOR will be created before the Proof-Of-Work phase ends and Proof-Of-Stake begins. During the Proof-of-Stake phase, small emissions of coins will be issued each year for the purposes of staking. Staking will be 5% per year. Block Times in the Torcoin network occur at 60 second intervals. The Block Reward schedule is set to halve every 6 months from the start with a reward of 1 TOR per block.
https://chainz.cryptoid.info/tor/
https://maxminers.net/tor/
https://pool.mn/tor/
https://pool.coin-miners.info/
http://miningpool.thruhere.net/
http://coinminers.net/
https://c-cex.com/?p=tor-btchttps://www.coinexchange.io/market/TOR/BTCYobit.net Listing Submitted (Not listed yet)
Retweet this tweet to see TOR on Bittrex:
https://twitter.com/carsenjk/status/852708791187415040Vote for TOR on your favorite exchanges!
More coming soon. .
---> Torcoin is 100% Anonymous, unlike Bitcoin. Send & Receive payments with full privacy
---> Torcoin is fully integrated with the Tor Project network
---> Send & Receive encrypted end-to-end messages to other Torcoin users
---> Ultra-fast confirmation times (60 seconds), 10 confirms, 30 confirmations for maturity of blocks.
---> X11 PoW hashing algorithm
---> 1 TOR PoW Reward per block halved over-time
---> Easy to mine
---> Approx. will only be around 12,000,000 TOR available. Current circulating supply: https://chainz.cryptoid.info/tor/api.dws?q=circulating
---> Compatible with Windows, Linux, and more
---> Android wallet coming soon!
HOW ANONYMOUS IS TORCOIN?
>>> It is the most anonymous cryptocurrency yet developed. Because TOR is integrated with TorCoin, all TorCoin nodes are completely anonymous; no one will ever know that you are running a TorCoin node, or trace your location. TorCoin protects you by re-routing your connection to other TorCoin nodes running TOR.
WHAT CONSENSUS ALGORITHM DOES TORCOIN USE?
>>> Like Bitcoin, TorCoin uses Proof-of-Work, but unlike Bitcoin it is configured to transition to Proof-of-Stake after two years, when small numbers of coins will be issued yearly for staking. Staking will be 5% per year. The advantage of transitioning to Proof-of-Stake is to avoid the centralized mining pools that may eventually threaten Bitcoin with a 51% attack. Most Bitcoin mining has been centralized in China, which is not necessarily a good thing for the currency. Proof-of-Stake is known to discourage centralized mining pools.
HOW MANY COINS WILL BE CREATED?
>>> Twelve million coins will be created during the two-year Proof-of-Work phase, with small emissions of coins issued thereafter for staking purposes. The total number of coins will be less than Bitcoin and significantly less than Ethereum.
IS TORCOIN A PREMINE OR INSTAMINE?
>>> We created the genesis block with approximately 10% of all coins to be issued - around 1.2 million. Whether this qualifies as a 'pre-mine' is up to interpretation. Bitcoin was 'instamined' to the tune of 1 million Bitcoins, while Ethereum was 'pre-sold' in a huge crowdfunding effort at almost 20% of its total issuance. Dash was instamined for 1.9 million coins (27% of the current supply!), although its creator calls it an 'accident' rather than an 'instamine.' Call it whatever you want, but we think allocating 10% of the coins to the creator will be good for the coin for the following reasons: A. The creator has an incentive to push for the coin's success. If the creator had no coins, he may abandon the project entirely. B. The creator has an incentive and financial ability to pay a development team to continue working on the software. C. The creator has the option of 'staking' exchanges to list the coin; essentially offering them a fair amount of TorCoin to list coin on their exchange. Getting a coin listed on multiple exchanges is the key to success of the coin. D. As the coin rises in value, the creator has the financial ability to fund projects related to the expansion of the market for the coin, such as creating exchanges or funding startups.
IS TORCOIN A SCAMCOIN OR PUMP AND DUMP?
>>> No. We believe strongly in anonymity and have developed this coin to help bolster the TOR network by creating more nodes and to increase anonymity in the cryptocurrency space by enabling people to send coins anonymously. While we hope TorCoin rises in value, we are in it for the long haul with TorCoin and have no desire to dump large amounts of the coin on the market.
WHO CREATED TORCOIN?
>>> God. Aliens. Elvis Presley. Who cares? TorCoin is open-sourced and de-centralized; the creator is already irrelevant.
WHY USE TORCOIN?*** Completely Untraceable
No one will ever know you are running a TorCoin node - your real IP is never broadcast to the network because TorCoin runs over Tor.
*** Anonymous Payments
Using stealth addresses, TorCoin payments are completely anonymous and untraceable by attackers, government agencies or anyone else.
*** Fast Confirmation Times
TorCoin provides extremely rapid confirmation times, meaning you can send and receive funds almost instantly, without the slow confirmation times of Bitcoin.
*** Encrypted End-to-end Messaging
You can send encrypted end-to-end messages to other TorCoin users.
*** Helping the TOR Network
By running TorCoin, you are increasing the number of nodes on the TOR network, and thereby helping people across the world remain anonymous.
Are You Affiliated With the TOR Project?>>> Not officially, though we are huge supporters of the Tor Project (
http://torproject.org).
What Happened to the Original TORCOIN?>>> Your guess is as good as ours. There was a TORCOIN developed in 2013 by some graduate students; the project was soon abandoned. The original TORCOIN contained vulnerabilities and poor coding. The new TorCoin bears no resemblance to its predecessor, nor did we use any of the code from the original TorCoin. The 2013 TorCoin is still listed on CoinMarketcap, but it has zero trade volume, a market cap of 9 BTC, and completely outdated code; the project was entirely abandoned. We intend to get our new TorCoin listed and the old TorCoin fully de-listed.
DOES TORCOIN OFFER END-TO-END ENCRYPTED MESSAGING?>>> Yes! With TorCoin, users can send encrypted end-to-end messages to other TorCoin users.
WILL TORCOIN COMPETE WITH BITCOIN?>>> We believe Bitcoin to be the GOLD STANDARD of cryptocurrency, much like gold is - literally - the gold standard of metals. Silver, Palladium and Platinum all have value - they just don't have as much value as gold. Bitcoin is the crypto against which all other cryptos should be - and will always be - measured. TorCoin is not intended to 'compete' with Bitcoin, but TorCoin offers certain features that Bitcoin notably lacks, such as integration with TOR, encrypted end-to-end messaging between TorCoin users, untraceable payments and fast confirmation times. We hope TorCoin becomes a useful cryptocurrency for those concerned about personal privacy online. Because of its native anonymity, TorCoin offers a much better alternative than Bitcoin for many activities.
WILL TORCOIN PROVE VULNERABLE TO 51% ATTACKS OR CENTRALIZED MINING POOLS?>>> We hope not. Because TorCoin will transition to a Proof-of-Stake consensus after two years, centralization of mining will be less appealing, and 51% attacks will therefore prove more challenging. Mining centralization and the potential for 51% attacks are a major weakness of Bitcoin's Proof-of-Work consensus model, which has led to centralization of mining in China (due to bottoming electricity costs) and even the mining company Ghash.io controlling more than 51% of mining for a brief moment, sparking fears of an attack.
WHAT SETS TORCOIN APART FROM OTHER CRYPTOS?>>> Unlike most other cryptos (excluding Monero and a few others), TorCoin offers completely anonymous sending. Apart from all other cryptos, TorCoin is fully integrated with TOR and therefore 100% anonymous; an attacker or government snoop can never see if you are running a TorCoin node or not. Your IP address is therefore never broadcast on TorCoin. Unlike Bitcoin and some of the older currencies, TorCoin offers much faster confirmation times, meaning you can send and receive funds almost instantly. TorCoin is also designed to transition to Proof-of-Stake consensus, meaning it will discourage centralized mining pools from cropping up, which is a major problem for Bitcoin and other exclusively proof-of-work currencies. TorCoin also offers encrypted end-to-end messaging between TorCoin users. And finally .. we think the name is just really cool :-)
FUTURE DEVELOPMENT>>> The major focus on future development will be improvement of end-usability of the coin (making it easier for average people to use), smoothly transitioning to Proof of Stake (possibly incorporating Serenity/Casper), development of an Android wallet, and improving efficiency of the network online.
IS TORCOIN OPEN SOURCE?>>> Of course.
https://github.com/TorCoinProject/torcoinLinux Compile guide to compile torcoin-qt on Ubuntu 14.04/16.04Run these commands to install the required dependencies in general for compiling torcoind/torcoin-qt:
sudo apt-get install build-essential libtool git autotools-dev automake pkg-config libssl-dev libevent-dev bsdmainutils libboost-all-dev libminiupnpc-dev libzmq3-dev
Then do this command:
sudo apt-get install software-properties-common
sudo add-apt-repository ppa:bitcoin/bitcoin
sudo apt-get update
sudo apt-get install libdb4.8-dev libdb4.8++-dev
Then install QT 4 so you can use the command qmake in the next steps:
sudo apt-get install libqt4-dev libprotobuf-dev protobuf-compiler libqrencode-dev
Then clone the github directory of torcoin onto your machine, cd into the folder and use the following commands to build the QT for Linux:
sudo qmake "USE_QRCODE=1" "USE_UPNP=-" torcoin-qt.pro
Then:
sudo make -f Makefile.Release
You may need to remove lines 19 through 34 from the torcoin-qt.pro file since you are building on linux, since currently the windows compiling deps are hardcoded in.
