Lobstex – Zerocoin, Masternodes, Anonymous
Lobstex – By 2018, everyone learned cryptocurrency, bitcoin and blockchain, how he worked and how prices jumped to a peak of $ 1949.63. Cryptocurrency is a digital asset that essentially acts as a medium of exchange, using cryptographic techniques to protect securely related transactions, thereby controlling the newly generated currency units and then verifying asset transfers.
The problem facing the system is the dual expenditure and consensus system that is verified without central control. In networks with a decentralized perspective, there are no dedicated servers. Therefore, each unit of the node or network fulfills the promise to complete the job. The network works on individual peers with each transaction list to verify and check the validity and future transactions and to minimize the risk of multiple expenses. The proposed consensus includes a set of rules, most of which involve transaction verification and transaction blocking. The latter is a group of closed transactions in time, connected encrypted to form blockchain, which results in the birth of cryptocurrency.
If we look back at the history of cryptocurrency, Satoshi Nakamoto, the pseudonym inventor of Bitcoin, was never intended to create cryptocurrency. Bitcoin. Nakamoto announced Bitcoin at the end of 2008, and he mentioned the development of a peer-to-peer electronic cash system.
The first cryptocurrency, Bitcoin’s working principle, is unprecedented in transparency and elusive. Any transactions conducted on Bitcoin blockchain can be tracked, in terms of public security, and stored permanently in blockchain networks. The address used in the Bitcoin blockchain provides visibility and information about the origin and destination of Bitcoin transactions. Although addresses are essentially private overtime, they can easily track transactions in the path of the blockchain and can determine the origin of all the properties, times, and locations (IP) of the complete history to find the same Address. Because Bitcoin blockchain is transparent, anyone can keep track of the final balance and use of a wallet or address. When a user gives the identity of the wallet address to provide and receive services/goods, the transaction anonymity is blocked. Given the timeless nature of blockchain, content that may not be traceable or tracked at this time can be easily tracked in the future. Users can be advised for users to create a new address for each transaction on the Internet. Bitcoin is considered an anonymous network for payment flows, however, this is the culmination of decentralized network transparency.
What is the Zerocoin protocol?
Zerocoin is intended to be a decentralized nature of the agreement, the use of electronic cash schemes provides fairly sophisticated users of anonymity and security coins, based on a simple chain of assumption blocks online and only additional distributed consensus transactions. zLOBS handles the zerocoin protocol by establishing zero-knowledge evidence. When PoW ends, the zLOBS (zerocoin) function will be activated in block 43201.
- How to Transmit Process
First, when you want to send a personal transaction using zLOBS, you must choose the number of coins. Once the number is determined, regular coin balances can be reduced by crediting the new zLOBS without transaction history. the concept of burning appears in the picture, the ancient coins using encryption technology to burn, it can not come and make a preventive shield, so anyone on the chain using the ancient coins and track the history of one’s transactions. New and old coins in the system are burned, the total supply remains the same, and one is prepared to make the most intimate transactions in the world without traceability. The current denominations of zLOBS casts are 1, 5, 10, 50, 100, 500, 1000 and 5000 in the Lobstex chain. As an example of the new ‘100’ zLOBS, after burning an old coin, the new coin ‘100’zLOBS will be credited to your wallet without history.
- How to spend it
If you want to make a personal and anonymous transaction, the new “100” zLOBS will be used in the process. The amount will be sent to the wallet without a history attached, and each denomination will be selected from the collection.
What is Masternode?
Masternode can be described as a distributed node network to utilize some special features that are not needed for ordinary nodes. Besides presenting stability on the blockchain, basic features include instant transactions with privacy status. Masternode also performs several other functions compared to normal nodes. The first masternode function was conceptualized by Dash Cryptocurrency.
Specific functions performed by the master node compared to the normal node are:
✓ Increase transaction privacy
✓ Instant trade
✓ Provide the basis for sound governance and equality of voting systems
✓ Increase budget allocation and financial function
Masternodes (MN) do not work at a separate point, however, it always interacts and communicates with other basic nodes to make the network more dispersed and perform the desired function.
Set basic requirements for Lobstex Masternode:
• Minimum amount: 10000 LOBS
• Standalone VPS (Virtual Private Server) Ubuntu 16.04 x 64 24 x 7, for hosting wallets
• The special IP address used to perform the same operation
• Additional storage space for storing blockchain
Lobstex (LOBS) has two layers or systems
1. LOBS (as base coin)
2. zLOBS (zerocoin)
LOBS are basic coins from chains and can be used as ordinary coins compared to other block coins like Bitcoin. Every LOBS transaction is visible in the chain, uses resource managers and is transparent, maintains blockchain address and public history and is accessible to everyone.
However, zLOBS (zerocoin) layer transactions will provide complete privacy and anonymity, and work using new coin casts and take the same approach. The zerocoin treaties are ancient coins burned no mechanism to give a history of new coins then converted into new coins of old coins, and the process continues to eliminate traces of public visibility. Compared to other coin methods have a hybrid algorithm, zLOBS is not associated with other entities or bags or interactions depending on the coin mix, thus creating a foundation job on a new coin in Lobstex zerocoin agreement itself, rather than relying on unhealthy Mix the old coins that may prove fragile in complete privacy matters.
Lobstex (LOBS) Specifications
- Website: www.lobstex.com
- Official launch date: 02 MAY, 2018
Coin Basic Specs
- Name: Lobstex
- Ticker: LOBS
- Algorithm: Quark
- Type: PoS and PoW (Initially)
- RPC Port: 15156
- P2P Port: 14146
Block Time: 60 sec
~ 0 TO 43200 : PoW
~ 43201 to INF: Pos
Total Supply: Infinite (78.6 million in 10 years)
Circulating Supply: 3.5 mil
- Collateral: 10000 LOBS
- Mature Time: 4 Hours
~ 0 to 5000: No Reward, 100% Miners
~ 5001 to 43200 : 50% Masternodes, 50% Miners
~ 43201 TO INF : 60% Masternodes, 40% Stakers
Staking Block Rewards
- 0 to 500: 5 Per Block (Anti Instamine)
- 501 to 100000: 40 Per Block
- 100001 to 300000: 30 Per Block
- 300001 to Inf: 15 Per Block
zLOBS – activated at 43201 Block
- Q2, 2018
New Exchanges, Whitepaper, Zerocoin Protocol
- Q3, 2018
Merchants, Partnerships, Mobile Wallets
- Q4, 2018
Dealership Program, Bigger Exchanges, Wallet Voting
- Q1, 2019
Colossal Protocol, Marketplace, QR Integration
To know the latest information about Lobstex project you can visit the link below:
Mining Pools: http://lobstex.com/pools