Spectrecoin
| Spectrecoin | |
|---|---|
| File:Spectrecoin-Logo.svg Spectrecoin Logo | |
| Ticker symbol | XSPEC |
| Coins | Privacy coin |
| Development | |
| White paper | White Paper |
| Initial release | 8 January 2017 |
| Latest release | 4.2.0 / 2 May 2020 |
| Code repository | github |
| Forked from | Bitcoin, ShadowCash |
| Operating system | Windows, Linux, macOS |
| Developer(s) | Philip Muller Yves Schumann |
| Source model | Open source |
| Website | spectreproject |
| Ledger | |
| Ledger start | 20 November 2016 |
| Timestamping scheme | Proof-of-stake |
| Issuance | Decentralized, block reward |
| Block reward | 2 XSPEC / 3 SPECTRE |
| Block time | 96 seconds |
| Block explorer | chainz |
| Circulating supply | 26,316,043 XSPEC (as of 13 May 2020[update])[1] |
| Valuation | |
| Exchange rate | $0.096850 (as of 13 May 2020[update])[2] |
| Market cap | US$2,564,933 million (as of 13 May 2020[update])[3] |
Search Spectrecoin on Amazon.
Spectrecoin (XSPEC) was created in November 2016, as an open-source cryptocurrency with user privacy as focus. It uses an energy-efficient Proof-of-stake consensus algorithm to issue new coins towards network participants for securing the network and validating transactions. With its recent PoAS (Proof-of-Anonymous-Stake) implementation, Spectrecoin's main user-base are those seeking financial privacy. As newly minted coins cannot be tracked on the Blockchain. Its dual-coin system offers a public ledger as well as fungibility by making use of their own XSPEC and SPECTRE coins alike.
Architecture[edit]
Spectrecoin is based on Bitcoin code base, features PoSv3 (Proof-of-Stake version 3) and CryptoNote based privacy features.
PoSv3 & PoAS In comparison to any Proof-of-work Cryptocurrency, the Proof-of-stake algorithm consumes significantly less energy to reward network participants. As well it makes use of the innovative PoAS (Proof-of-Anonymous-Stake) algorithm on its Blockchain.
On 17th March 2019 a hard fork enabling the Proof-of-Anonymous-Stake algorithm took place. Shaping Spectrecoin as first project to implement staking anonymous coins on a trustless setup. Since then the user can decide if staking rewards are received publicly visible on the block explorer as XSPEC or anonymous & untraceable as SPECTRE.
With TOR integration all nodes on the network are operating as Tor hidden services. They are not addressed by their IP address, but their .onion address which encodes a public key used for traffic encryption. No exit nodes are involved and all communications between two nodes are fully encrypted. It is not possible to connect to the network without using TOR, as all nodes are only reachable via their hidden service address. No real IP addresses are known to any network participant except for their own, and it is infeasible for an attacker to analyze the network structure or censor the network.
The Onion Router (TOR) comes with in-built support for OBFS4. This is an obfuscation protocol that hides the nature of the traffic that goes through it. That enables usage of Spectrecoin in countries where access to the TOR network is censored, like China or Iran. It is currently the recommended pluggable transport of the TOR project.
Features[edit]
- Dual-coin system
- Fungible coin creation
- Integrated TOR & OBFS4
- Public & stealth addresses
- Ring signatures
- Stealth staking (PoAS - Proof-of-Anonymous-Stake)
- Untraceable balances making the rich-list obsolete
The Foundation[edit]
Since 15th March 2019, Spectrecoin is a registered Foundation[4] in the United Kingdom. Since then the official company type is Community Interest Company (CIC). The current Spectrecoin Foundation is built by 4 team members including the founder, two developers and the community manager of Spectrecoin.
Funding[edit]
Due to the fact that the ICO (Initial Coin Offering) in 2016 was underperforming[5] with a mere ~17 BTC (~16,000 USD at that time), Development Contribution Block's (DCB's) have been established in August 2018. Where every 6th block is contributed towards development and Foundation expenses. This partially enables the Foundation to pay for certain services, hire contractors and reimburse developers/team members.
See also[edit]
References[edit]
- ↑ "Spectrecoin Explorer". chainz.cryptoid.info. Retrieved 2020-05-13.
- ↑ "Spectrecoin (XSPEC) price, marketcap, chart, and fundamentals info". coingecko.com. Retrieved 2020-05-13.
- ↑ "Spectrecoin (XSPEC) price, marketcap, chart, and fundamentals info". coingecko.com. Retrieved 2020-05-13.
- ↑ "SPECTRECOIN FOUNDATION CIC - Overview (free company information from Companies House)". beta.companieshouse.gov.uk. Retrieved 2019-03-15.
- ↑ "Icodata.io | Spectrecoin". Icodata.io. Retrieved 2019-05-26.
External links[edit]
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