Index Chain is First private hybrid currency of POW / POS / MASTERNODE based on blockchain, a framework that is built on the basic protocol of Bitcoin and incorporates multiple improvements and additional technologies in that protocol to make it perfectly anonymous, secure, economical, and efficient for all the users. A wide range of the technologies have been used in their latest and most up-to-date versions, and all the flaws in Bitcoin’s infrastructure regarding security and anonymity have been addressed appropriately. A hybrid PoS and PoW (X16RV2), Sigma Protocol, Dandelion++ technology, Masternodes, Lelantus, and much more has been unified into one absolutely anonymous currency – Index (IDX).
NAME: INDEX CHAIN
TICKER: IDX
ADDRESS LETTER: i
ALGORITHM: x16rv2
MAX SUPPLY: 350.000.000
BLOCK TIME: 60 Seconds (1 minute)
BLOCK TYPE: Hybrid PoW/PoS/MN
MASTERNODE COLATERAL: 5000 IDX
BLOCK REWARD: 1 Coin Per BLOCK.
MASTERNODE - 70% Reward (0.7 coins per Block)
POS – 15% Reward (0.15 ~ 0.30 coins per Block)
POW- 15% Reward (0.15 ~ 0.30 Coins per Block)
COINBASE MATURITY: 100 Blocks
STAKE MATURITY: 100 MIN
MASTERNODE CONFIRMATIONS: 15
MASTERNODE MATURITY: 30 min
P2P PORT: 7082
RCP PORT: 8888
REWARD BLOCKS:
--1° year Reward Block: 1.00 Coin 15% PoS 15% PoW 70% Masternode
--2° year Reward Block: 0.80 Coin 15% PoS 15% PoW 70% Masternode
--3° year Reward Block: 0.64 Coin 15% PoS 15% PoW 70% Masternode
--4° year Reward Block: 0.51 Coin 15% PoS 15% PoW 70% Masternode
--5° year Reward Block: 0.40 Coin 15% PoS 15% PoW 70% Masternode
--6° year Reward Block: 0.32 Coin 15% PoS 15% PoW 70% Masternode
--7° to 25° year Reward Block: 0.27 Coin 15% PoS 15% PoW 70% Masternode
⚡ Security and Anonymity
The security of Index Chain construction stems from the mechanism that makes each coin commitment perfectly hidden and each signature proof computationally zero-knowledge. These two points can ensure that the adversary has, at most, a negligible advantage in guessing which coin took part in a transaction. To integrate Index into Bitcoin, we chose to minimize the costs for verification of the transaction in the blockchain. As the system of Bitcoin entailed verification of the proof at each level or each node of the blockchain, the proofs grew increasingly complex and costs increased. Index aims to combat the issue by removing the need for the proof to be verified at each node through repeated iteration of the same proof at multiple points.
Index was shaped by modifying bitcoind that was the original open-source Bitcoin C++ client by adding instructions to the Bitcoin script for minting and spending coins, adding transaction types and codes for handling these new instructions, and maintaining the list of spent serial numbers and the accumulator. The Charm cryptographic framework was used to implement cryptographic instructions in Python, and we used Boost’s Python utilities to call that code from within bitcoind. Nodes of the blockchain were divided into Index-aware nodes and normal Bitcoin nodes, and measures were taken to make every transaction that even passed through a single Index-aware node anonymous and safe.
The most important thing that is used to prevent theft and attacks is the promotion of anonymity by keeping a balance in the mint and spend of coins. The number of minted and spent coins is visible to all users in the system, removing the information asymmetry in the systems in which the coins were visible only to the trusted parties. Even with all these measures taken to improve Bitcoin’s infrastructure and protocols, there are major flaws that afflicted Index as well.
⚡ Sigma Protocol
The Sigma privacy protocol represents a very important innovation in blockchain privacy, as it combines the high privacy of zero-knowledge proof schemes (ZKP), without many associated disadvantages, bringing great improvements to the IndexChain protocol. It provides an attractive alternative to zkSNARKs, with high anonymity and great performance, but it does so at the cost of reliable configuration, exotic encryption and complicated constructions. Sigma was originally introduced in the blockchain system as the next Zcoin replacement for Zerocoin.
⚡ Exodus Protocol
We bring along the entire blockchain system of IndexChain, implementing the Exodus protocol, facilitating the use of smart contracts, personalized currencies/tokens and even decentralized exchange functions. This layer expands the utility and functionality of the IDX blockchain so as not to affect its core functions as a digital currency.
⚡ TOR Protocol
The Tor community with the Crypto community, shared the ideal of privacy and decentralization. And in 2017, researchers from the University of Waterloo and the University of Concordia, both from Canada, introduced a system based on blockchain technology using onion routing techniques to facilitate anonymous deliveries.
Using the TOR network by the Index Chain protocol protects your IP address and the origin of the transaction with a deep level of anonymity, and as the number of IDX blocks increases, more nodes are added, which makes the network increasingly flexible and secure.
⚡ Dandelion++ Protocol
The Dandelion ++ protocol is an enhanced version of the Dandelion Protocol (which was originally proposed in 2017), to help improve the privacy of the Bitcoin P2P network. Dandelion ++ addresses concerns with the original protocol and has been implemented by the research team with a positive response from Bitcoin #DevelopmentTeam s.
Dandelion ++ is a direct network layer solution with anonymity being incorporated into the IDX network, explicitly enhancing the ideals of the original Dandelion proposal and differs from most broadcast communication anonymity protocols in addressing usage objectives and analysis metrics.
⚡ Proof of Work (PoW) X16R-V2
IndexChain uses the Proof-of-work (POW) X16R-V2. The X16R algorithm was changed into X16RV2 by Ravencoin on the 1st of October 2019 to make it increasingly ASIC resistant while increasing the hash rate. IndexChain also employs that strategy. mining method in its hybrid system. In cryptography, the Proof-of-work Protocol or PoW is a protocol used for the prevention of cyberattacks such as DDOS and Spam. For this, a system was used where the user must prove that he has spent a certain time to find some answer that satisfies some requirement that the verifier asks for. Finding such an answer must be difficult and laborious for the protocol to work, but not impossible. The verification of this test, on the other hand, should be much faster and easier to be carried out, so as not to allow attacks.
⚡ Proof-of-Stake (POS) 3.0
IndexChain uses A Proof-of-Stake (POS) as part of its mining method, but in particular, the most updated and improved version, PoS 3.0. Proof-of-Stake (POS) has proven to be reliable and effective over years of testing and, solving the problems of Bitcoin-derived systems caused by the Proof-of-Work (PoW) protocol. The latest advances in Proof-of-Stake are given the new version of PoS 3.0, from pioneers such as Blackcoin now integrated with Bitbay, solved the problems faced by Coin-Age, Block Reward, Blockchain Precomputation thus making the PoS protocol 3.0 more robust and keeping nodes connected to the network while discouraging inactive nodes.
⚡ Masternode
A master node is well different from an ordinary node on the network. A master node is a cryptocurrency full node that keeps a complete copy of blockchain happenings in real time. A master node also is responsible for other things such as:
* - Ensuring optimal security and privacy of the users
* - Performing on-the-spot transactions
* - Taking part in setting the network standards
Master nodes are not singular in a crypto network but they also communicate with nodes like themselves on the decentralised framework. They are usually referred to as MN. It is however important to note that as much as the functions mentioned above represents the functions of a master node, there could be a little variance depending on the set up of each cryptocurrency.
RUNNING A MASTER NODE
Becoming a master node on any crypto network is not as easy as the entry requirement of being just an ordinary node. A master node is made to stake a huge percentage of their crypto on the network such that if there is any misuse of power, they can be punished by depreciating or depleting their stake.
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Topic: [ANN] [IndexChain-IDX] Safe+Private+Hybrid POW/ POS/ MN ♔♕ (Read 27095 times)