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Cryptonote uses a different curve, different libraries, and a whole different underlying core.
We used ring signatures to spend Shadow, which is created by sending SDC as an anonymous output.
Our scheme is quite a bit different, in that we borrow concepts from zerocoin, with the minting and spending, and use ring signatures to make the inputs untraceable from the outputs.. We're also using PoS instead of PoW.
Its a completely unique scheme and implementation
We used ring signatures to spend Shadow, which is created by sending SDC as an anonymous output.
Our scheme is quite a bit different, in that we borrow concepts from zerocoin, with the minting and spending, and use ring signatures to make the inputs untraceable from the outputs.. We're also using PoS instead of PoW.
Its a completely unique scheme and implementation
Smooth you said:
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This is a good system for anonymity, though perhaps a bit hampered in terms of anonymity by being on a shared chain (if conversion is used a lot, rather than transacting in Shadow itself)
I wonder in what ways do you think the anonymity is hampered by having two coins? I can see as if in the early stages it may be hampered because of lack of anonymous outputs or small ring sizes, but as the system grows surely this becomes less and less a problem? Or also because of timing or other attacks that examine coin amounts from transferring back and forth? Is that what you mean?
It seems these types of issues are solved by user practices, by the user not making an error in their operational security. Perhaps the onus on the user could be improved in the future as well with different wallet functions.
I am trying to weigh the pros and cons here. Because although you seem to focus on the downside of having two different units of account SDC and Shadow on the same chain, I see a lot of benefits to it as well. For one the SDC can more easily plug into existing infrastructure and exchanges. Having a transparent coin that is easy to track on the blockchain seems to have a lot of advantages also. As far as I know, XMR and Shadow can't really be tracked on the blockchain, right? This could cause problems at times. For example if we want to set up a promotional fund, nobody would be able to see the funds on the block explorer right unless we use SDC instead of Shadow?
I think the process of switching back and forth is the minting and spending part that ryno is mentioning. When you go back to SDC it mints new coins I think. I really wonder if this adds another layer to the anonymity/privacy in any way compared to cryptonote?? Maybe its kind of like say you are walking down a path in the woods leaving footprints, well someone can track those. So after a while you jump up onto the tree limbs instead and start walking and climbing along there, but in the process you are rubbing off pieces of bark leaving similar treeprints. To further obfuscate your tracks, you may want to switch back and forth between the path and the trees. Its like everytime you drop down to the path, you are minting new SDC. Does this make any sense at all?
Anyways I kind of like ShadowCash because of how you can switch between the two. It seems like it offers something extra that we never had before. Now we have a regular type of coin that can be made anonymous at will. That along with the wallet features, ShadowChat and soon to be marketplace ShadyBay make this project really appealing. Anyways sorry for rambling, hopefully I added something of value, lol.
pls confirm… thx
