QuazarCoin – Full Anonymous & ASIC-resistent
QuazarCoin (QCN) is the new generation of cryptocurrency that offer full Anonymity for your transaction and it’s based on the CryptoNote protocol and uses the CryptoNight algorithm which makes it ASIC-Resistent and accessible to anyone by CPU-Mining .
They have launched on 8 May , 2014 in a very democratic way by listen to it’s community and started without premine or instamine .
QuazarCoin – State-of-Art Features in Privacy
QuazarCoin protects your data and privacy through unlinkable transactions with ring signatures a system that would make any transaction looking like it’s going on a fresh new wallet it creates multiple unique one-time addresses for each of the payments, which are created from the single public key. Even though the payment is sent to a public address, in the block chain it appears as if sent to a one-time address.
Double-spending proof in spite of being anonymous, QuazarCoin ring signatures system restrict the double-spending attempt by linking the transactions with the same private key that means that the protocol uses the key image, derived from a private key through a one-way function. All the users keep the list of all the used key images, which are checked against a new transaction. In case there is a duplicate key image, the transaction is rejected as a double-spending attempt. However, the identity of the sender would still be anonymous, since it is impossible to get the private key from it’s image .
QuazarCoin creates an obstacle for an blockchain analyst by using ring signatures and one-time addresses covered above. Every QuazarCoin address of the payment is a unique one-time key, which is created from both the sender’s and the receiver’s parts, and the usage of ring signature hides the exact outputs that have been spent for the input. Therefore, each next transaction increases the number of possible senders and hides the actual connection even more from unwanted eyes it will be like searching the needle in the huge haystack .
QuazarCoin uses CryptoNight hashing algorithm as its proof-of-work. The proof of work mechanism is actually a democratic voting system. Users vote for the right order of the transactions, for enabling new features in the protocol and for the honest money supply distribution which makes it one of the most fair cryptocurrency out there .
- Algorithm: Proof-of-Work CryptoNight
- Block : 120 seconds
- Total coins supply: ~18,446,744
- Confirmations: 60
- Block Reward : Decreases according to the formula (264 – 1 – A)*2-21*10-12, where A = supply mined to date
Which will make it a very stable cryptocurrency from all points of view inclusive an stable emission curve according to their formula . We attached an image with a comparison between QuazarCoin & BitMonero and Bitcoin .
How to use & know abouts Quazarcoin
QuazarCoin it’s a bit weird to install and setup that’s why they tough about it and even made video about how to install and use it :
It has no GUI yet but as i heard from developer they are working on it and even have a bounty setup for those who think they can make one . Also they are working an Mac OSx 10.6 since no CryptoNote coin protocol work on OSX versions below 10.9
All instructions are located in binaries – use ‘Read Me’ file.
Also they added a video about how to master QuazarCoin wallet :
Which it’s really easy 3 minutes of commands and way of use it that would really simplify the process of owning , sending and mine QuazarCoin.
Invest in your privacy using QuazarCoin
We really got attracted by their active development and also it’s main developer with Nickname on Bitcointalk OracionSeis it’s an very active member of crypto-community and not hidding by a sock-puppet account which it clearly shows it’s good intention and long-term plan for QuazarCoin . If you care about your privacy on internet then QuazarCoin it’s the right solution for you as we enumerated it’s privacy features .
If you liked our article and managed to use QuazarCoin these is our TIP Quazar Address : 1QuekvponYLiHRFDTgekne8ia7mHA6FG2is426CT8c5cQZ8znS3uwnJEgvB2kGPgTM565yUs4yaaRd9AXZkJd3JY2Yb3rWL