Ultranote (XUN) - | Clone Of DigitalNote | Cryptonote POW | ASIC resistant mining




  • ‘’Untranote has been designed to solve the core problems inherent to two of the most important aspects of everyone’s daily life which are; communication and exchanging money which require both privacy and confidentiality. ‘’ Ultranote is a secure and private open source cryptocurrency which is accessible to all. With Unltranote you not only take control over your freedom but also act as your own bank. You and only you control and hold responsibility for your funds. Your accounts and transactions are kept private from intrusive eyes through peer to peer encryption technology. UltraNote uses advanced cryptographic techniques, namely zero-knowledge proofs, to guarantee the validity of transactions without revealing additional information about them. Ultranote transactions are confidential, untraceable and anonymous.
    The Ultranote Blockchain is a mutual distributed ledger that creates, distributes, facilitates storage and finally executes exchange of the cryptographic assets (XUN) via its wallets. The Ultranote Blockchain forms the ecosystem of the digital asset, which has been structured to deliver a set of financial and communication solutions that offer enhanced security, greater utility (messenger app), increased scalability, wider acceptance, improved efficiency, unquestionable confidentiality and asset transfer. Similar to every blockchain platform, Ultranote payments are stored on the blockchain in order to keep the books balanced but the sender, recipient, and amount of a transaction remain anonymous and untraceable.
    At the heart of the system is an improved version of Bitcoin, offering a fully decentralized open source cryptocurrency which allows enthusiasts to contribute to its development and moreover help bring new ideas to the table on a highly empowering and individual level.
    With the core ideas of the digital asset system in mind, the XUN platform has been designed to increase global prosperity through improvements in the quality and efficiency of the exchange of its digital currency, data and casual as well as highly confidential conversations (Video, voice and written; email and messenger) between individuals, businesses, cooperatives and merchants without the involvement of indiscrete 3rd parties like banks or governmental institutions.
    Furthermore instead of establishing value on XUN via government backing or declarations of regulating bodies, unlike accustomed commodities like gold or oil, the value of XUN is solely based on the quality and soundness of the ecosystem thus generating demand. In a world where governments settle on our financial activities, monitor our actions and communications via established backdoors; Trust, anonymity and total self-sufficiency is fundamental to XUN. All these factors has been carefully examined and furthermore fully integrated to the digital concept via its encryption system and untraceable asset transfer channel. Ultimately, following mass adoption, a more efficient and better-calibrated system of value will be established to promote prosperity and confidentiality among a larger and more diverse global population.

    Ultranote XUN vs Altcoins

    Over the past 8 years the huge international success of Bitcoin has of course brought much attention to the blockchain technology and has along the way encouraged several developers to implement their own blockchain development to try improving the way people carry business as well as routine daily activities. Today in October 2017, CoinmarketCap.com the cryptocurrency reference website in regards to listing and sorting of cryptocurrencies/ Altcoins has around 1000 listed coins each of them looking to replicate the Bitcoin story.
    Unfortunately this ‘’Bull Run’’ has also brought along several challenges for the cryptocurrency market players. While some Altcoins are simple quick money making solutions for a group of unreliable developers (scamers) hindering trust, promoting greed and creating confusions among interested investors/ users not knowing where to put their money, it is essential for XUN to care about general public education and get them to understand the real values behind the blockchain technology and what XUN has to offer.
    While majority of Altcoins develop their business model to be a newer or better version of Bitcoin which is at the end of the day only an alternative payment avenue to fiat currencies with some level of privacy. Unltranote is bringing to the market real added value through a range of comprehensive communication and banking like services. In addition to allowing untraceable and anonymous funds transfers and asset deposits with interest rates; Ultranote offers a fully integrated messaging system capable of handling written messages as well as video and audio files.
    Compared to other cryptographic assets; it is our messaging facility match with our Untraceability and anonymity which set Ultranote apart from the competition. While Bitcoin like most cryptocurrencies are anonymous but traceable and it is possible for anyone you interact with on the blockchain to retrace your transactions and even gain access to your wallet balance. Read article from Wired.com published in 2015 for reference.
    https://www.wired.com/2015/01/...

    UntraNote Vision and Mission

    At Ultranote our vision is to lay down a truly anonymous and untraceable global communication and financial platform which will unlock unquestionable privacy for every citizen of the world. By eliminating the drawbacks of traditional communication channels and adapting to the new digital age we are setting grounds to provide a better and safer environment for people to interact and transfer assets.
    Our focus is set on delivering solutions that improve people’s lives and empower citizens of the world to experience freedom of interaction without the concerns of someone capable of monitoring their actions or hacking into their private conversations or finances. At Untranote we are highly committed to provide an environment where confidentiality and anonymity is respected and stays unbreakable.
    Until today the worldwide power distribution was unfortunately mostly in favour of a handful of individuals known as the ‘Elites’, who fed their craving for power through great depressions and dictatorship. Although humanity hopes to overcome global crises through education and internationalization, we still fail to have control over our lives. With such a powerful asset as cryptographic technology it is time for all of us to regain access to our fundamental rights.

    Ultranote KEY Objectives

    Security and confidentiality

    The core essence of Ultranote is expressed through security, trust, peace of mind, untraceability and unchallenged anonymity. Our blockchain offers a cutting edge platform to exchange daily conversation via the messaging facilities capable of supporting video in addition to audio files. Your communications as well as asset transfers are safely executed on the blockchain keeping the books balanced and tamper proof.

    Liquidity

    Liquidity is fundamental for the smooth running of any cutting edge communication as well as payment system. Based on an asset exchange platform to perform our operations; a fair amount of assets is necessary to ensure that at any given time enough coins are distributed and made available to secure the transactions. With 85Billion coins mined over 30 years it has been observed that as time goes by and mass adoption grows Ultranote will allow appreciation in value without causing hyper inflation which is in total harmony with the major aim of Ultranote as a cryptocurrency; ‘’Empower people to have access to state of the art communication and asset transfer technology while being able to self manage their own funds within their means. Rich or poor we should all have the right to own a few Ultranote coins, Freedom is for everyone’’

    Utility

    In the short to medium term XUN has the objective to provide a truly anonymous and untraceable communication and asset transfer solution with the added benefit of allowing fixed term deposit facility with fixed annual interest rates of up to 3%.
    Available platforms: Mac-Windows-Linux.

    Wallet: CLI version.
    Wallet: GUI version Upcoming End Q4 2017.
    Mining Pools: Q4 2017.
    Upcoming Smartphone apps: IOS- Android.
    IOS and Android Apps for mobile wallet with messenger features as well as contact less payments will also be implemented along the mid to long term time frame to allow more usability and social integration of Ultranote worldwide.

    Capital Appreciation

    With a limited amount of coins mined over a predefined time frame; capital appreciation is simply a by product of demand and supply which directly influence the price of the asset. Adapting to a growing amount of daily transactions and a fixed deposit facility paying annual interest rate, it is inevitably that Ultranote will develop a capital appreciation environment which will allow any stage adopters to be rewarded for believing in Ultranote project. With an inverted supply curve, it is also expected to witness a more stable price action over the years as compared to other well-known coins. XUN supply will match XUN demand growth making it always affordable and immune to hyperinflation. Nevertheless, similar to any traded asset, capital appreciation cannot be guaranteed.

    Ultranote Key Design Features & Specification

    Distribution and acquisition of XUN

    1st stage XUN will only be available via mining and distributed among miners. It has been identified that in order to make XUN available to everyone and encourage an organic growth; no ICO will be implemented on XUN which will provide assurance that every interested party/stakeholder gets a fair chance on acquiring XUN.
    2nd stage XUN will be listed on exchanges where miners will be able to cash out (sell) their XUN at market value. The XUN conversion to Bitcoin or fiat currency will allow miners and investors to enjoy their profits as they wish. We are at the moment in negotiation with cryptocurrency exchanges as well as potential partners for direct payments. As time goes by and the XUN network grows we will be able to simultaneously expand our partnerships with new merchants and mainstream service providers.

    Name: Ultranote
    Ticker: XUN
    Max supply: 85 Billion
    Decimal Place: 6
    Block reward: 150 XUN Constant
    Block target: 2 minutes
    Yearly Interest Rate: up to 3% depending on deposit terms
    ICO: No
    Mining type: CPU efficient, ASIC resistant
    Blockchain: Cryptonight proof of work (proof of Activity at a later update)

    Fixed Supply

    A fixed and predefined amount of 85 Billion XUN will be mined over 30 years to make sure that the distribution and mining of Ultranote will still be running for our next generation of users and allow the maximum of people to participate in this new adventure. Cryptocurrencies being still at the infancy stage we are anticipating a gradual but rapid expansion of the market over the next 10 years. A fair amount of coins will not only create an excellent level of liquidity to provide for micro-payments but also stabilize the level of inflation on the asset so as to again allow a wider global participation and organic growth due to its affordable price Furthermore, with an inverted supply curve we can expect a more stable price action since XUN supply will adapt to a growing demand instead of diminishing supply while demands increases. Our aim is to make XUN available to everyone in order to gain access to a secured anonymous and untraceable platform where people from anywhere in the world regardless of their race, financial means, age or gender can communicate and transfer funds in total confidentiality.
    Even if 85 Billion coins can be perceived as enormous; moving the decimal place to 6 instead of 8 or even 12 like well-known cryptocurrencies; the XUN supply aligns perfectly with the major brands supply without having to divide the coin too much when dealing with micro transactions.
    An example of XUN supply against other Altcoins.
    18,446,744.073709551616 -12 (Monero)
    21,000,000.00000000 -8 (Bitcoin)
    85,000,000,000.000000 -6 (Ultranote)

    Proof of holding and interest rate

    With a fair amount of XUN distributed over 30 years, an annual interest rate of up to 3% will be directly applied to XUN fixed deposit holdings. We are anticipating a rapid organic growth in demand for the XUN, making it appreciate in value in a very fair and stable manner. With an annual interest rate comparable against conventional deposit/saving account at entities like banks or other cryptocurrencies, XUN is well positioned to take the lead in the value storage asset segment.
    Fully- Encrypted-Untraceable Network
    The Ultranote network is based on the fully encrypted and impenetrable Cryptonote technology allowing complete autonomy, anonymity and confidentiality while transferring funds and messaging your friends/family. Your actions are untraceable simply put a Ghost.

    Convertibility

    Mined Ultranote coins distributed among the miners will be of course tradable on relevant recognised cryprocurrency exchanges. These exchanges will allow XUN holders to convert their coins to either Bitcoin or Fiat currency for instance USD-Euro according to the available pairs on the Exchange.
    With the future implementation of contactless payment application for smart phones IOS and Androids, XUN holders will also be offered the option to pay for their daily expenses at their regular merchants as well as at Ultracoin partners directly using their Untranote coins.

    Usability

    Ultranote provides an anonymous- secure- untraceable messaging/data transfer platform capable of supporting video& audio files in addition to regular payment facilities via desktop wallet and mobile wallet application. Only the wallet address of users will be relevant for transactions; No Name, No identity and No IP address will be attached to the wallets.

    Applications

    • Instant messaging service comparable to well established messaging applications like; facebook messenger, whatsapp, Viber or Snapchat.
    • Instant International fund transfer confirmed within seconds.
    • Instant payment at any point of sales via contactless application on mobile wallet.(Upcoming)
    • Full financial confidentiality No regulating bodies can have access to your private funds or interfere with your Ultranote transactions.
    • Financial and private life peace of mind. No one can rob or bully you to gain access to your money. Safe for children and other vulnerable citizens looking to roam freely in town. They can have no concerns about being mugged. They can steal your phone but not your funds.
    • Higher Interest Rates on fixed deposit facility compared to any regular banking system or mainstream investment vehicle.

    Ultranote Technology

    Ultranote is based on the Cryptonote Blockchain technology on which is also based Monero as well as Bytecoin our main competitors. Nevertheless even if we share the same technology, our team of Developers and analysts have been able to come up with Ultranote a far better implementation of Cryptonote Technology as developed above. ‘’If you like Monero your will love Ultranote’’.
    In order to better understand the technology behind Ultranote; the following tech specifications have been directly imported from Cryptonote Website. https://cryptonote.org/inside/ 

    CryptoNote Phylosophy 

    CryptoNote is the technology that allows the creation of completely anonymous egalitarian cryptocurrencies. A number of our community members have been focused on research and development for more than a decade. We aim to promote the derived principles to influence the contemporary economic paradigm. 

    The current power distribution on our planet is the legacy of the world where the economy is controlled by the few. The status quo was shaped throughout centuries, making human beings engage in rat races, detrimental rivalry, and bloodshed. In spite of humanity's hope to overcome local crises through education and internationalization, we still fail to have full control over our lives. 

    However, state-of-the-art advancements in technology, mathematics, and cryptography may become the key to subvert this paradigm. The advent of cryptocurrencies is the first sign that the new world is coming. It is marked with a hope that the economy will interlace with the technology, that communities will set new transparent principles, and impartial cryptographic algorithms will control its implementation. 

    It is in our philosophy to encourage enlightenment through breakthrough innovations. Emancipation begins with laymen getting access to financial resources that will give the oppressed the hope for quality education, drinking water, and a better life. CryptoNote is not about creating yet another digital currency. It is the mindset and concepts that represent the first small step to regain the power over ourselves in order to live peacefully and prosper.

    Ring signatures: Untraceable payments

    The ordinary digital signature (e.g. (EC)DSA, Schnorr, etc...) verification process involves the public key of the signer. It is a necessary condition, because the signature actually proves that the author possesses the corresponding secret key. But it is not always a sufficient condition.

    Ordinary signature Ring signature [1] is a more sophisticated scheme, which in fact may demand several different public keys for verification. In the case of ring signature, we have a group of individuals, each with their own secret and public key. The statement proved by ring signatures is that the signer of a given message is a member of the group. The main distinction with the ordinary digital signature schemes is that the signer needs a single secret key, but a verifier cannot establish the exact identity of the signer. Therefore, if you encounter a ring signature with the public keys of Alice, Bob and Carol, you can only claim that one of these individuals was the signer but you will not be able to pinpoint him or her.

    Ring signature

    This concept can be used to make digital transactions sent to the network untraceable by using the public keys of other members in the ring signature one will apply to the transaction. This approach proves that the creator of the transaction is eligible to spend the amount specified in the transaction but his identity will be indistinguishable from the users whose public keys he used in his ring signatures.

    Untraceable transactions 

    It should be noted that foreign transactions do not restrict you from spending your own money. Your public key may appear in dozens of others' ring signatures but only as a muddling factor (even if you already used the corresponding secret key for signing your own transaction). Moreover, if two users create ring signatures with the same set of public keys, the signatures will be different (unless they use the same private key). [1] Ronald L. Rivest, Adi Shamir, and Yael Tauman. How to leak a secret. In ASIACRYPT, pages 552–565, 2001

    One-time keys: 

    Unlinkable transactions Normally, when you post your public address, anyone can check all your incoming transactions even if they are hidden behind a ring signature. To avoid linking you can create hundreds of keys and send them to your payers privately, but that deprives you of the convenience of having a single public address.

    Linkable transactions 

    CryptoNote solves this dilemma by an automatic creation of multiple unique one-time keys, derived from the single public key, for each p2p payment. The solution lies in a clever modification of the Diffie-Hellman exchange protocol[1]. Originally it allows two parties to produce a common secret key derived from their public keys. In our version the sender uses the receiver's public address and his own random data to compute a one-time key for the payment. The sender can produce only the public part of the key, whereas only the receiver can compute the private part; hence the receiver is the only one who can release the funds after the transaction is committed. He only needs to perform a single-formula check on each transactions to establish if it belongs to him. This process involves his private key, therefore no third party can perform this check and discover the link between the one-time key generated by the sender and the receiver's unique public address.

    Unlinkable transactions 

    An important part of our protocol is usage of random data by the sender. It always results in a different one-time key even if the sender and the receiver both remain the same for all transactions (that is why the key is called "one-time"). Moreover, even if they are both the same person, all the one-time keys will also be absolutely unique.

    Double-spending proof

     Fully anonymous signatures would allow spending the same funds many times which, of course, is incompatible with any payment system's principles. The problem can be fixed as follows. A ring signature is actually a class of crypto-algorithms with different features. The one CryptoNote uses is the modified version of the "Traceable ring signature" [1]. In fact we transformed traceability into linkability. This property restricts a signer's anonymity as follows: if he creates more than one ring signature using the same private key (the set of foreign public keys is irrelevant), these signatures will be linked together which indicates a double-spending attempt. To support linkability CryptoNote introduced a special marker being created by a user while signing, which we called a key image. It is the value of a cryptographic one-way function of the secret key, so in math terms it is actually an image of this key. One-wayness means that given only the key image it is impossible to recover the private key. On the other hand, it is computationally impossible to find a collision (two different private keys, which have the same image). Using any formula, except for the specified one, will result in an unverifiable signature. All things considered, the key image is unavoidable, unambiguous and yet an anonymous marker of the private key.

    Key image via one-way function

     All users keep the list of the used key images (compared with the history of all valid transactions it requires an insignificant amount of storage) and immediately reject any new ring signature with a duplicate key image. It will not identify the misbehaving user, but it does prevent any double-spending attempts, caused by malicious intentions or software errors.

    Double-spending check

     [1] Eiichiro Fujisaki and Koutarou Suzuki. Traceable ring signature. In Public Key Cryptography, pages 181–200, 2007

    CryptoNote blockchain analysis resistance 

    There are many academic papers dedicated to the analysis of the Bitcoin's blockchain. Their authors trace the money flow, identify the owners of coins, determine wallet balances and so on. The ability to make such analysis is due to the fact that all the transfers between addresses are transparent: every input in a transaction refers to a unique output. Moreover, users often re-use their old addresses, receiving and sending coins from them many times, which simplifies the analyst's work. It happens unintentionally: if you have a public address (for example, for donations), you are sure to use this address in many inputs and transactions. CryptoNote is designed to mitigate the risks associated with key re-usage and one-input-to-one-output tracing. Every address for a payment is a unique one-time key, derived from both the sender's and the recipient's data. It can appear twice with a probability of a 256-bit hash collision. As soon as you use a ring signature in your input, it entails the uncertainty: which output has just been spent? Trying to draw a graph with addresses in the vertices and transactions on the edges, one will get a tree: a graph without any cycles (because no key/address was used twice). Moreover, there are billions of possible graphs, since every ring signature produces ambiguity. Thus, you can't be certain from which possible sender the transaction-edge comes to the address-vertice. Depending on the size of the ring you will guess from "one out of two" to "one out of a thousand". Every next transaction increases the entropy and creates additional obstacles for an analyst.

    Blockchain analysis ambiguity

    Standard CryptoNote transaction 

    A standard CryptoNote transaction is generated by the following sequence covered in the white paper. Bob decides to spend an output, which was sent to the one-time public key. He needs Extra (1), TxOutNumber (2), and his Account private key (3) to recover his one-time private key (4). When sending a transaction to Carol, Bob generates its Extra value by random (5). He uses Extra (6), TxOutNumber (7)and Carol's Account public key (8) to get her Output public key (9). In the input Bob hides the link to his output among the foreign keys (10). To prevent double-spending he also packs the Key image, derived from his One-time private key (11). Finally, Bob signs the transaction, using his One-time private key (12), all the public keys (13) and Key Image (14). He appends the resulting Ring Signature to the end of the transaction (15).

    A standard CryptoNote transaction

    Ultranote Mining Pool:

    http://pool.ultranote.org/

    Block Explorer:

    http://explorer.ultranote.org/

    Wallets:

    Windows Wallet

    Linux Wallet

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