Loki - Private transactions, decentralised communication (XMR fork with some new & unique features).

in loki •  7 months ago 

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What is Loki?

Loki creates privacy tools that enable untraceable, secure transactions and anonymous communication.

Loki is a privacy network which will allow users to transact and communicate privately over the internet, providing a suite of tools to help maintain the maximum amount of anonymity possible while browsing, transacting and communicating online.

Using the decentralised nature of blockchain technology, Loki creates new private and secure methods of interacting with the internet, as well as building privacy-centric applications, such as messaging services, forums, online marketplaces, and social media platforms.

The demand for privacy in digital communications and transactions is ever increasing. User data is being collected, processed, and traded at unprecedented levels. Everything from a users browsing data and email contents, to credit score and spending habits, are gathered and sold between the worlds largest corporations and state level actors. Loki aims to provide a censorship-resistant suite of tools that will allow users to transact and communicate in private.

Bitcoin came with the promise of privacy, but what has resulted is more traceability than ever. Companies like Chainalysis and BlockSeer have taken advantage of Bitcoin’s transparent blockchain architecture to track and follow specific transactions [1]. Loki is built off Monero, a cryptocurrency that has established itself as one of the most secure and private transaction networks to date [2]. However, we recognize that Monero has inherent drawbacks. Monero transactions are orders of magnitude larger than Bitcoin transactions, with significant bandwidth, processing, and disk space requirements. As the network grows, this results in a large burden on Monero node operators and offers no incentive or reward for their contributions to the network. This makes running a node a costly and often thankless exercise. The introduction of a node reward scheme, called Service Nodes, mitigates this by
providing economic incentives for node operators.

Service Nodes can also be used to provide a range of other privacy-centric functions if properly incentivised. Primarily, the Service Node network will allow users to transmit and receive data packets anonymously. This private communication is facilitated by each Service Node acting as a relay in a novel Sybil resistant mixnet, having similar properties to Tor and I2P. Furthermore, this emergent communications network is to be used as the backbone of a decentralised and end-to-end encrypted messaging service, called Loki Messenger, which will allow users to communicate directly and without relying on any trusted third-party, and without the requirement for both parties to be simultaneously online.

Loki is not only a resilient medium of private exchange but a platform for decentralised and
anonymous internet services.

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Lokinet

Lokinet is a unique, blockchain enforced and incentivized mixnet, where you can browse the internet anonymously, visit and host private websites all without exposing your identity or IP address.

SNApps (Service Node Applications)

SNApps allow you to host hidden private web applications inside of Lokinet. With SNApps you can build censorship resistant social media platforms, news sites, marketplaces and other communities. The possibilities are endless.

Loki Messenger

Loki Messenger is a decentralised private messaging application for all platforms. Have peace of mind with anonymity and an unstoppable messaging app.

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Wallets

Screenshot of the Loki Electron Wallet above. Loki also offers an additional GUI wallet that is the same as the Monero GUI wallet. There is also a mobile wallet available on Android and iOS.

All of the Loki wallets offer clean and easy-to-use interfaces. Like Monero, all transactions are private by default and there isn't even an option to send public transactions. This ensures the utmost privacy, fungibility, and anonymity.

Additional Information

Below is the link to the official Loki website. I have also included links to their whitepaper, economic proposal paper, and cryptoeconomics of Loki paper.

Website: https://loki.network/
Whitepaper: https://loki.network/wp-content/uploads/2018/10/LokiWhitepaperV3_1.pdf
Economic Proposal: https://loki.network/wp-content/uploads/2018/10/Loki_Cryptoeconomics-1.pdf
Cryptoeconomics: https://loki.network/wp-content/uploads/2018/10/CryptoeconomicsOfTheLokiNetworkV1.pdf

Where to buy?

Currently, Loki is not available on many popular exchanges. However, it is available on Kucoin which is a pretty big exchange. Kucoin is where I purchase my Loki as they have the highest liquidity among exchanges trading LOKI. Purchase Loki on KuCoin!

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