All You Need To Know About SecureCoin

All You Need To Know About SecureCoin

SecureCoin is a fairly new coin, appeared in August 2013. Of course, this is only one cryptocurrency of many, but still, something is different from t

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SecureCoin is a fairly new coin, appeared in August 2013. Of course, this is only one cryptocurrency of many, but still, something is different from the others. SecureCoin was made by the same developers who have been doing the live and successful DigitalCoin (DGC) so this cryptocurrency could also be quite successful.

This cryptocurrency seems to have a goal of maximum security, and it has high crypto-stability. The three-letter abbreviation is SRC.

Basic Info about SecureCoin

Reward for a block: originally 5 coins (Bitcoin has 50)

A new block every minute, which makes SRC faster than bitcoin, but it’s not new. Complexity recalculation: every 500 blocks.

Now we will look at an interesting part. When recalculating a complexity of the algorithm, the maximum complexity increase is 100% and no more. And the maximum reduction in the complexity of 50% is laid. Complexity can be 2 times increased, and 2 times decreased, but not more. This protects cryptocurrency from too much variation in complexity, and such a coin is less prone to attack.

Details

Markets: SRC / BTC

Halving awards for a block: every 2.100.000 blocks.

Confirmations of block: 40

Transaction confirmations: 5

Maximum number of coins: 21.000.000

More about Algorithms

Grostl is an reiterate hash function, where the contraction function is made from two fixed, large, varied permutations. The design of Grøstl is clear and based on rules very different from those used in the SHA-group. The two transpositions used are constructed using the broad trail design policy, which makes it possible to provide strong claims about the resistance of Grøstl against big classes of cryptanalytic treads. Moreover, if these permutations are supposed to be ideal, there is an evidence for the security of the hash feature.

Skein is established on the Threefish tweakable block cipher short using Unique Block Iteration (UBI) chaining method while leveraging a permissive low-overhead argument-scheme for flexibility. Skein maintains internal state scales of 256, 512 and 1024 bits, and random output sizes. The developers claim 6.1 cycles on byte for any output amount on an Intel Core 2 Duo in a 64-bit regime.

BLAKE is a cryptographic hash function that is based on ChaCha stream cypher, but a transpose copy of the input block, XORed with round constants, is added before each ChaCha round.

JH is a cryptographic hash feature submitted to the NIST hash feature competition by Hongjun Wu. Although chosen as one of the five finalists of the contest, JH finally lost to NIST hash applicant Keccak.

 

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