Shhhh!!.............What are stealth addresses? .............

in stealth-addresses •  3 years ago

Shhhh!!.............What are stealth addresses? .............
A traditional bank account is based on a private ledger in which the transaction history is only known to the account holder and the bank. In such a system the account holder can widely distribute his/her account number and receive any number of payments without exposing the account history to the payers or casual observers. This is essentially what is accomplished with stealth addresses, without sacrificing the decentralization of the currency.

A stealth address works in the following way: The address is first generated using your Vertcoin wallet. Next you make it public to the payers (on your company’s website, for example). Once public, each payer can use the stealth address to generate a standard but unique Vertcoin address only known to him. Finally, the payers conduct the transactions using their individually generated addresses, and you import them in your wallet with the corresponding stealth address. This way each such Vertcoin address and transaction is only identifiable by you and the payer who generated that exact address. The outsiders are left outside.

Vertcoin’s stealth address technology allows a business to use one consistent address for all their payments, without the risk of someone watching their transactions with malicious intent.

Vertcoin is the first cryptographic currency to develop the stealth address technology and implement it within the blockchain. This is considered to be the best solution for securing users’ privacy in a decentralized public ledger. All previous attempts to address the issue of privacy have relied on third parties like banks. Vertcoin’s stealth addresses bring an increased level of privacy and security for both businesses and consumers.

Algorithm: Lyra2RE(v2)
Generation: 84 million VTC
Block time: 2.5 minutes
Block Rewards: 50 coins per block
Subsidy halves every 840,000 blocks (~4 years)
Difficulty Re-Target Time: Retargets every block (Kimoto’s Gravity Well)
Premine: Zero – not premined
Block Explorer

Vertcoin has a merge-mined sidechain: MobileCash
Download the MobileCash (MBL) wallet from Github and configure your miner according to the details in the ANN thread at bitcointalk (Windows) or litecointalk (Linux). The best way to merge-mine VTC, MBL and other merge-mined coins on the VTC chain is by running your own p2pool node, a “node in a box” and easy HOWTO are available: https://github.com/metalicjames/p2pool-Lyra2RE/releases

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