TorCoin, a novel cryptocurrency that is integrated with the TOR network, takes anonymity to a novel level. The anonymous cryptocurrency, uses the X11 proof-of-work consensus that allows miners to back upward the TorCoin network.TOR is an opened upward source, decentralized network that allows users worldwide to possess got total anonymity on the Internet past times routing IP addresses with multiple nodes. TOR defends against traffic analysis, a type of network surveillance threatening privacy together with security.
Meeting H5N1 Key Concern
Anonymity has emerged every bit i of the most critical concerns for cryptocurrency users. TorCoin allows users to balance assured their transactions cannot endure traced.
Anyone tin laissez passer the axe purpose TOR to protect their anonymity without reckon to nationality, politics, organized faith or whatever other factor.
Unlike bitcoin, TorCoin rewards users for running the TOR node. TorCoin allows users to mail coins anonymously, dissimilar bitcoin, which has completely traceable transactions. TorCoin users don’t possess got to “mix” coins to hold them anonymous.
Because TOR is fully integrated with TorCoin, attackers cannot know who is using the currency. TorCoin users cannot know the physical place of some other TorCoin user’s node. The currency offers encrypted end-to-end messaging with users.
Anonymous Nodes
All TorCoin nodes are anonymous. No i tin laissez passer the axe know when mortal else is running a TorCoin node or line their location. The network re-routes every user’s connectedness to other TorCoin nodes running TOR.
TorCoin is a hybrid currency that provides total integration for Tor with the Tor Onion network.
While the currency uses a proof-of-work algorithm, it transitions to proof-of-stake afterward 2 years when a small-scale number of coins volition endure issued annually to endure staked. Staking volition endure 5% per year.
Proof-of-stake prevents centralized mining tools that could undermine bitcoin with a 51% attack. The bulk of bitcoin mining is inwards China, giving that percentage a pregnant marking of influence over the cryptocurrency.
12 Million Coins In 2 Years
There volition endure 12 meg TorCoin coins created during the two-year proof-of-work period, followed past times small-scale releases of coins for staking. There volition endure fewer coins than bitcoin together with significantly fewer than Ethereum.
The TorCoin genesis block was developed with close 10% of all coins that volition endure issued, closed to 1.2 million. Bitcoin, past times contrast, was “instamined” to about 1 meg coins. Ethereum was “pre-sold” inwards a crowdfunding of about 20% of its total issuance.
The Right Incentive
TorCoin believes allocating 10% to the developers provides an incentive to ensure the currency’s success every bit good every bit the way to pay a evolution squad to proceed to operate on the software. Without whatever coins, the creator mightiness select to abandon the project.
The creator has the selection of “staking” exchanges to listing the coin, offering the exchanges a fair total of money to listing it. Listing a money on numerous exchanges is critical to the success of the coin.
TorCoin is available on the C-Cex Exchange, CoinExchange.io together with CoinMarkets.com.
TorCoin is non affiliated with the TOR project.
TorCoin has improved since a grouping of graduate students developed the projection inwards 2013 together with presently abandoned it. The novel TorCoin did non purpose whatever of the code from the master TorCoin, which is even together with hence listed on CoinMarketcap but has non merchandise book together with a cap of nine TBC.