Stellite: Cryptocurrency Uses IPFS And Zeronet On Blockchain?

What Is Stellite?

Most cryptocurrencies implement nodes that are hardcoded when helping users set up their private nodes. Although this measure works efficiently, it does not guarantee total security as it at calls for massive security risk. Stellite, therefore, comes in as the first and leading cryptocurrency that links up Inter Planetary File System 0(IPFS) and ZeroNet with a blockchain technology.

Cryptocurrency Uses IPFS And Zeronet On Blockchain

IPFS is a permanent solution that acts as permanent storage within the node network. ZeroNet uses bitcoin and Bit Torrent to build a strong decentralized network that is resistant to censorship. Users within the network are at free to publish dynamic and static websites into the ZeroNet platform whereas visitors can choose to serve the website with resources. The platform has an inbuilt SQL database that enables easier site development. This database is also synchronized with the nodes for easier updating of information.

The IPFS protocol is based on a content addresses block storage model which enables people to exchange objects. Besides, it is fault tolerant hence nodes do not necessarily need to be connected to each other. This makes it the best in hosting list files containing nodes that act as the backbone of the Stellite network.

The platform will make use of a cross-platform utility since several people will be incorporated in the network.

Node Anonymity And Data Security

Nodes in the network can be accessed easily by the public or any other malicious people. These malicious people may end up accessing transaction trails of the people. To restrict this, users will be provided with a configurable I2P protocol known as tor and kovri. The protocol allows users to mask and ‘hide’ their IP address within the network.

Mining

Stellite will introduce a custom miner that will be used in any type of device. Users will be creating address and mining using the addresses created. This will be more favorable to people in regions where the hash power is low. The devices will be using a protocol called AMAYC, which will allow them to mine without interfering with the hardware of these devices.

The protocol applies a neutrally pre-trained network to make ratings that the user will use later on again.

Stellite Advantages

Untreatable Payments

The digital signature verification process uses the signer’s public key. This is vital in proving that the signature belongs only to the author and not anybody else.

Unlinkable Transactions

A user can create several keys and privately send them to your payers as a way of avoiding the transactions from being linked up. The sender can then produce the public part of the key while the receiver only computes the private part of the key.

Proof Of Double Spending

Anonymous signatures often give room for double spending. However, since the Stellite crypto Note uses a modified traceable ring signature, the problem of double spending is fixed.

Resistance To Blockchain Analysis

Stellite mitigates all risks that may arise due to key re-use or those arising from input to input tracing. Also, Stellite allows zero confirmation transactions that enable them to attract many people.

Adaptive Limits

The payment system is not dependent on any one’s decisions. Every crucial limit is always re-calculated based on the previous state of the system making it change more adaptively.

Egalitarian Proof Of Work

Voting is the only proof of work mechanism available. Users have the right to vote when they need new features or when they require a more honest supply distribution.