Cryptocurrency Review: SpectreCoin And Its Specifics

Cryptocurrency Review: SpectreCoin And Its Specifics

SpectreCoin is a secure, untraceable and anonymous cryptocurrency. This cryptocurrency is under the Spectreproject that is also developing a mobile platform.

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SpectreCoin is a secure, untraceable and anonymous cryptocurrency. This cryptocurrency is under the Spectreproject that is also developing a mobile platform for the purpose of small remittance and shall be available for Android users. The project believes in individual privacy and aims at providing the best anonymous cryptocurrency and the capabilities to transfer cash around the world anonymously. The currency can only be obtained through listed exchanges.

SpectreCoin is an advanced hierarchical deterministic wallet that provides anonymity, energy efficient, untraceable, and proof-of-stake v3 cryptocurrency. The SpectreCoin uses the Tor network while the software is also integrated to Tor to provide the maximum protection. In addition to this, it uses the latest cryptography techniques including Ring Signature, dual key stealth addresses, and private knowledge proofs. These security measures make it’s almost impossible for any successful attack or identification of a user. It boasts of the most secure and anonymous cryptocurrency in the world today.

For communications, the currency uses an ultra-secure, end to end encrypted chat function to allow total anonymity. The messages are all encrypted using the most secure and well known AES-256-CBC algorithm. Messages conveyed are dispersed in between nodes preventing any would-be attacker from decrypting the intended recipients. Not even through sophisticated statistical traffic analysis can an attacker get user details.

SpectreCoin uses an advanced е-wallet. The multi-feature wallet can easily carry out various everyday tasks but is not limited to numerous advanced features. Additionally, the wallet is created through an HTML interface that allows viewing of details in wallet set. This also allows for the expansion of the wallet to allow additional functions in new tabs, just like it would be on a website.

The SpectreCoin uses proof-of-stake (PoSv3) with a static inflation of five percent annually. This fair and secure measure tries to maintain consensus and offer rewards for SpectreCoin Users for keeping their wallets open. The proof of stake is an energy efficient consensus method with no large data centers, same as with Bitcoin. Every user is entitled to an equal chance of receiving rewards based on the amount of SpectreCoin in their wallets and not the coin age.

Spectreproject is also developing an Android app called Spectre.cash that allows transactions of coins. The app also observes the same levels of security as the SpectreCoin. It is a three layer encryption app that ensures anonymous cash transfers. It uses purely peer-to-peer connections with no servers, no central database, and no register is needed. Crucially, no records of trade remain on the phone once the transaction is complete. New trade requests and any intermediaries communicate anonymously via a dynamic distributed hash table that registers the proposed trade details to allow clients and intermediaries find each other. This enables the system to be totally decentralized allowing users to be completely anonymous up until they both agree to trade within the set parameters in the app. Coins are safely locked in a secured escrow until the sales conditions are met. This feature makes the system extremely hard to any form of take down attempt or control from any state power.

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