ValueShuffle
I've been thinking about the next I0coin update, and how we can make it stand out in the crowd. I want to run an idea past the community to see what everyone thinks.
Privacy appears to be a growing concern among crypto users. Many of the top coins have enhanced anonymity over Bitcoin. With this in mind, my idea is to add 'ValueShuffle' to I0coin. This is an improvement on the CoinJoin implementation that DASH uses. ValueShuffle anonymizes the sender, receiver and the amount of the transaction without a third party mixer. As far as I know no other crypto has a full implementation of ValueShuffle yet. So this would give us a chance to be the first.
An advantage that ValueShuffle has over CryptoNote (Monero, Bytecoin) is that we can still use blockchain pruning to keep the block chain manageable in size for most users.
From reading about it, we need to get SegWit and Confidential Transactions working first. We can get SegWit by simply upgrading to the next Bitcoin update, expected out no later than Sep-2017. Then Confidential Transactions may need to be added on our own. This means we may be able to beat even Bitcoin to the punch. Below are a couple of links for you to read. Let me know what everyone thinks.
https://bitcoinmagazine.com/articles/valueshuffle-brings-together-the-best-of-both-worlds-for-privacy-1483557170/
https://www.deepdotweb.com/2017/01/26/valueshuffle-comprehensive-transaction-privacy-bitcoin-users/
I think this is a great idea, as long as it's ONLY ValueShuffle & NOT all that masternode nonsense that DASH & so many other alts seem to be adopting lately.
I agree. A couple of things I want to stay clear of are reducing miner fees and the addition of servers (vulnerable to attack or compromise). We need to keep it decentralized. The DASH masternodes are not servers per se, but they reduce miner fees by about half. With I0coin almost mined out, we need to find a new source of income to keep miners interested. ValueShuffle will increase transactions, and hopefully our user base as well because it will increase privacy and anonymity.
Any news? Something needs to happen to spark some life into this coin again - topia is stagnant.
