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CryptoNote is an application layer protocol that aims to solve the problems outlined in Bitcoin Core, the protocol behind Bitcoin[1]. The protocol powers several decentralized privacy-oriented cryptocurrencies.

Original author(s)Nicolas van Saberhagen
Written inC++
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Operating systemWindows, Unix-like, OS X
TypeCryptocurrency, anonymity
LicenseMIT License

Nothing is known about the original author of CryptoNote, "Nicolas van Saberhagen."[2]

Transaction Unlinkability[edit | edit source]

The changes in the results of blockchain analysis after implementing the ring signatures.

Transactions in the CryptoNote protocol use a one-time destination address, meaning no observer can determine if any transactions were sent to a specific address or link two addresses together.[1]

To prevent sender identification from the recipient, CryptoNote groups the sender's public key with several other keys (more precisely, it groups the sender's output with several other's outputs), making it impossible to tell who actually sent the transaction. If ring signatures are used, all possible senders referenced in the transaction are equiprobable and there is no way to determine the exact private key used while signing.[1]

Since the original release, many additional CryptoNote additions have been made, such as a change to ring signatures known as RingCT which conceals transaction amounts.

Proof of Work[edit | edit source]

The original CryptoNote protocol proposes a memory-intensive hashing algorithm, CryptoNight, which was designed to close the gap between CPU mining and that of GPUs, FPGAs and ASICs.[1] However since its release in 2014, ASICs have since been designed for the original CryptoNight algorithm.

Emission[edit | edit source]

CryptoNote retargets the difficulty of every block for faster adjustment for when the network hashrate shrinks or grows intensely for a short period of time. Block sizes are dynamic, with a miner penalty fee if the miner produces a block significantly larger than the previous median of 100 blocks.[1]

Currencies[edit | edit source]

Forks chart of CryptoNote-based cryptocurrencies (Feb 2018).

An open sourced project known as Forkmaps aims to maintain a directory of CryptoNote based coin forks. [3]

Bytecoin (BCN)[edit | edit source]

Bytecoin (BCN), not to be confused Bitcoin (BTC), was the first implementation of the CryptoNote protocol launched to the public on July 4, 2012.

The Bytecoin blockchain contains some extra information not directly related to money transfers: several blocks include geographic coordinates of universities, educational facilities among other buildings.[citation needed]

Monero (XMR)[edit | edit source]

Monero is currently the best known of the CryptoNote-based cryptocurrencies. Forked from Bytecoin in April 2014, it has a 2-minute block target and 50% slower emission speed.[4]

In September 2014, Monero was attacked when someone exploited a flaw in CryptoNote that permitted the creation of two subchains that refused to recognize the validity of transactions on each other.

Other[edit | edit source]

In 2014 there were several CryptoNote-based fraudulent coin launches, which exploited CrytoNote's open source code and the anonymity it provides in transactions.

Others articles of the Topics Cryptography AND Economics : Nxt, ZenCash (cryptocurrency), Vertcoin, Primecoin, Peercoin, Namecoin, NeuCoin

Others articles of the Topics Economics AND Free and open-source software : CoinM, Vertcoin, Bitcoin Private, Australia Cash

Others articles of the Topics Cryptography AND Free and open-source software : Bitcoin Private, Vertcoin, Dietbitcoin, Bimil

Others articles of the Topic Cryptography : Bitcoin Private, Brosix Instant Messenger, Blockchain, Bimil, CoinJoin, SafeWallet Password Manager, Namecoin

Others articles of the Topic Economics : BoxyCoin, Namecoin, Primecoin, Blockchain, Australia Cash, Devcoin, ZenCash (cryptocurrency)

Others articles of the Topic Free and open-source software : Koseven (framework), PulseEffects, Jam.py, PageCarton, Ring (programming language), Bitcoin Private, Dietbitcoin

References[edit | edit source]

  1. 1.0 1.1 1.2 1.3 1.4 "CryptoNote v 2.0" (PDF). cryptonote.org. Retrieved 2018-12-21.
  2. "Meet North Korea and Lana Del Rey's new favorite cryptocurrency". The Daily Dot. 2018-02-09. Retrieved 2018-12-21.
  3. "Forkmaps". forkmaps.com. Retrieved 2018-12-21.
  4. Greenberg, Andy (2017-01-25). "Monero, the Drug Dealer's Cryptocurrency of Choice, Is on Fire". Wired. ISSN 1059-1028. Retrieved 2018-12-21.

External links[edit | edit source]

This article "CryptoNote" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:CryptoNote. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.

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