CryptoNote

CryptoNote

CryptoNote

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CryptoNote is an application layer protocol designed for use with cryptocurrencies that aims to solve specific problems identified in Bitcoin.[1] Namely:

  • Traceability of transactions
  • The proof-of-work function (see Bitcoin network)
  • Irregular emission
  • Hardcoded constants
  • Bulky scripts
  • Financial privacy
Quick Facts Original author(s), Repository ...

The protocol powers several decentralized privacy-oriented cryptocurrencies, including Monero, MobileCoin and Safex Cash.[2][3]

Nothing is known about the original author of CryptoNote, "Nicolas van Saberhagen."[4] Its mathematical component and motivation are described in the article "CryptoNote Whitepaper", released in two editions: in 2012 and in 2013.[5][6] Launched in the summer of 2012, Bytecoin was the first cryptocurrency to use this technology. Later, several teams launched their networks, based on the Bytecoin code.

Emission

Just like in Bitcoin, miners are rewarded for finding solutions. But the stepped release curve characteristic of Bitcoin has been replaced with a smooth one in CryptoNote: the reward decreases with each block.[citation needed]

One implementation of the CryptoNote protocol has resulted in a non-smooth emission curve, specifically, the S-curve of the Safex Blockchain, which was designed to match the Diffusion of Innovations technology adoption curve theory.[7]

See also

References

  1. [1]
    "CryptoNote v 2.0" (PDF). cryptonote.org. Archived from the original (PDF) on 2020-10-28. Retrieved 2018-12-21.
  2. [2]
    "Forkmaps". forkmaps. Archived from the original on 2018-08-04. Retrieved 2019-03-21.
  3. [3]
    "Signal Adds Payments—With a Privacy-Focused Cryptocurrency". Wired. ISSN 1059-1028. Retrieved 2021-04-09.
  4. [4]
    "Meet North Korea and Lana Del Rey's new favorite cryptocurrency". The Daily Dot. 2018-02-09. Retrieved 2018-12-21.
  5. [5]
    "Cryptonote v. 1.0" (PDF). Archived (PDF) from the original on 2014-06-20.
  6. [6]
    "Cryptonote v 2.0" (PDF). Archived (PDF) from the original on 2014-06-20.
  7. [7]
    "Safex Bluepaper 2018 (revised November 2020)" (PDF). GitHub.


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