StealthCoin (XST) is a decentralized open source cryptocurrency forked from Novacoin in July 2014. As the name suggests, the project attempts to provide a complete anonymity solution for cryptocurrencies. This is achieved by using a concept called StealthAddress, which is a cryptographic blockchain obfuscation technique in which an infinite number of target addresses can be created from each public receiving address. Destination addresses cannot be linked to each other or to a public receiving address. Another interesting feature of the cryptocurrency is StealthText, a multi-platform anonymous encrypted SMS transaction sending technology. StealthCoin has a fair distribution with low block rewards of nearly four hours, a small 1% oracle, and the long-term energy efficiency of proof-of-stake minting.

Project Introduction

Consensus in Stealth (XST) will be determined by a circular block certification system, which is purely economic, while block rewards are result-driven. This system is called qPoS (Quantum Proof of Stake), and there is a set of signers who generate blocks in rounds. Signing privileges are tokenized as digital assets known as stakers. Because signers generate blocks, their staker rewards affect not only consensus, but revenue as well. Both increase with the square root of the net number of blocks produced by stakers. Existing stakers are transferable and new stakers can be purchased from the blockchain through a process that eliminates the purchase currency from the XST supply.

Project Features

Allows free transactions
The sender can choose to submit a proof of work instead of a fee, in which case the sender's computer must perform a computation of known difficulty and include the result of that computation in the payout in transaction. This type of free system has precedence among other cryptocurrencies, suggesting that proof-of-work is a viable anti-spam measure that enhances user experience.

Achieving Privacy
Stealth will achieve privacy using the Zerocoin system which can be used with native currency (XST) and Zerocoin. Sending XST will show the sending address, receiving address and amount. Creating a private transaction in Stealth, the user will convert XST to Zerocoin in a reversible process.

Achieving Scalability
Stealth addresses the challenges of providing cryptographic privacy and massive scalability. To achieve these two aspects of the cryptographic holy grail, Stealth will split the problem into two parts (privacy and scalability) and then apply different ledger technologies to each part. We call this system the Converged Ledger, and it forms the basis of Stealth's Quantum Proof-of-Stake (qPoS) protocol.

For privacy, Stealth's qPoS will use a technology called UTXO ledger. To achieve scalability, qPoS will use a state ledger. The UTXO ledger works like travelers checks, where checks can be cryptographically shuffled. This shuffling means that when one of the checks is spent, it is impossible to know which one it was, thus hiding the sender.

Technical Overview

Quantum Proof of Stake (qPoS)
Stealth qPoS merges two different types of blockchain ledgers, each with different strengths, to get the best of both. The first type of ledger uses so-called unspent transaction outputs (UTXOs), which can be thought of as digital travellers' checks. Although the reasons are highly technical, UTXO ledgers allow for added cryptographic privacy, hiding the sender and receiver of each transaction on the blockchain. All individual transactions on the Stealth blockchain will use this encrypted private UTXO ledger. The second type of ledger is account based and used for transaction confirmation. Account-based ledgers can be very efficient, with extremely precise block verification schemes enabled by a round-robin proof-of-stake mechanism.

Each validator is allocated a short amount of time to verify transactions, hence the name Quantum Proof of Stake (qPoS). Validators will be rewarded for every transaction they process, and they can transfer these rewards to a cryptographically private UTXO ledger after accumulating enough rewards on the account-based ledger. Validators have to buy their right to validate transactions and are rewarded based on performance, making qPoS not only efficient, but purely based on free market economics.

TOR Privacy
As cryptocurrencies enter the mainstream world, privacy is a growing concern. What a vendor accepts one day may be illegal the next. Stealth provides an end-to-end privacy solution utilizing several proprietary features including seamless TOR network integration for private transactions as well as blockchain and obfuscated cryptography found only in Stealth. The TOR network has proven to be immune to web analysis and is the standard for keeping web traffic private.

Identity Protection
Anonymity has always been and always will be our top priority. Stealth is committed to keeping your coins private by using advanced encryption protection to protect your information. We will continue to innovate to remain the most advanced private currency on the Internet.

Related Links:

https://stealth.org/

https://medium.com/stealthsendhttps://stealth.org/

https://medium.com/stealthsend