Spectrecoin deliver cryptocurrency anonymity that surpasses Zcash, DASH and Monero.
Spectre will deliver the most up to date privacy centric cryptocurrency that surpasses the anonymity features of Zcash, DASH and Monero.
Spectre was launched on 20/11/2016 and is a new concept for total security and anonymity on the blockchain. Spectrecoin was conceived of as the settlement currency for a controversial Android app that will deliver the ability to conduct global anonymous cash transfers. This can happen on a purely P2P basis and no server and no central database or register is needed.
We have a custom designed ‘zero-knowledge proof protocol’ that allows an instance of the app to reveal the number of successful trades it has been involved in, but without disclosing anything about those trades, and also without the possibility of the number of successful trades being falsified. Hence, once an instance of the app has been involved in some number of successful trades the trust rating on the network will increase.
This allows the intermediaries who facilitate the trade to prove their trustworthiness without revealing anything about their prior trades and without revealing who they are or where they are. Crucially, no record of the trade will remain anywhere once a trade has been completed. Any record is transient and there is no history. If you are a client, there will be no trace on your phone that you have ever transacted.
Both a new trade request and available intermediaries ‘announce’ anonymously through a dynamic Distributed Hash Table (DHT) that will register details of the proposed trade so that clients can find intermediaries and vice-versa. This allows the system to be totally decentralized and lets participants be totally anonymous until they mutually agree to trade within the parameters set in the app by the users.
In addition to fuelling the Android app the development team is building, Spectrecoin is a superior anonymous cryptocurrency in its own right. The lead developer ‘Mandica’ explains why Spectrecoin is different and why it has stronger anonymity features than the leading competitors:
“We built Spectrecoin on a code base that employs ring signatures, which work to shroud transactions, making them untraceable. Ring signatures were invented by Ron Rivest, Adi Shamir, and Yael Tauman and is a new kind of key process. In essence, the signer of a transaction could be anyone from a defined group of users but there is no way for an attacker to uncover the identity of single user within the group. This is similar to the technique used by Monero. In addition, we use dual-key stealth addresses that will make it impossible to link transactions between a sender and a receiver. This in itself provides near perfect anonymity but to take it one step further we will use a native implementation of the Tor protocol to hide users IP addresses as well. The whole of the Spectrecoin network will run exclusively within Tor. There is no other cryptocurrency today that employs all these features and I would argue that Spectrecoin is the top anonymity coin for those reasons.”
The team is busy working to release an alpha version of the Android remittance app. As a start Spectrecoin will get its own mobile wallet for Android in the near future.
This will be a controversial project and it has far reaching consequences and the potential to upset the money transfer business.
Bitcoin enables certain uses that are very unique. I think it offers possibilities that no other currency allows. For example the ability to spend a coin that only occurs when two separate parties agree to spend the coin; with a third party that couldn’t run away with the coin itself.