Innovative digital currency BitcoinDark aims to make transactions truly anonymous through their primary innovation, the Teleport technology, a system that can be implemented on any cryptocurrency to make untraceable trades.
BitcoinDark (BTCD) is a peer-to-peer proof-of-stake cryptocurrency. There are a total of 22 million units, but 1.2 million BTCDs have already been mined during the PoW phase, according to the press release. Every year, 5% of new coins are created from stalking. BTCD holders will earn revenue from Instant DEX (a near realtime decentralized exchange currently under development) and teleport fees. These incomes will be denominated in Bitcoin.
Not only BitcoinDark is in line with the original concept of Bitcoin of being a decentralized currency and a system payment, but the project as a whole also includes many other products making BitcoinDark encompass its big brother. Aside of building a cryptocurrency, BitcoinDark developers are creating a new technology in the digital currency world called the Teleport technology. The infrastructure, which is still under development, will enable any other cryptocurrency to become anonymous:
"Anonymous teleporting of funds occurs off the blockchain but is verified using the blockchain [...] [The system] transmits funds via telepods by transporters. All information needed to spend funds is included in the telepod and sent via the encrypted network to the destination – the telepods are then cloned and passed around to ensure that commerce can be conducted in private."
The team is also building a "collaborative cryptocurrency super network", where developers will be able to share, collaborate and gain access to BitcoinDark's open source tools. According to jl777, head developer at BitcoinDark:
“I want to openly reach out to other coins to join BTCD revolution. I am making libjl777 that can be integrated into any coin in a few days and this will allow the creation of a super network that will dramatically increase privacy levels, not to mention InstantDEX trading volumes and revenue sharing that will be earned by these other coins. BTCD will help other coins teleport for a minimal fee and it is quite possible that with the revenue sharing that they would actually get paid for integrating into BTCD network!”
Did you enjoy this article? You may also be interested in reading these ones:
Download our sleek and user-friendly free iOS app so you never miss the latest stories!