A single hashing algorithm poses a security risk because if it is compromised, the whole network is forever compromised. Multiple hashing algorithms enhance the security of the network by not only mitigating that risk, but also by adding an additional layer of complexity for any attacker to penetrate.
The aim of SecureCoin is to provide a secure, fast, and reliable network that is supported by active and involved developers. The coin was launched fairly with a staggered system and no coins mined before public launch.
- 1 Specifications
- 2 Fairness
- 3 Securechain Wallet
- 4 Getting Started
- 5 Useful Information
- 6 Algorithms
- 7 Concept Credits
- 8 Archives
- 9 References
- 10 External links
Reward Per Block: 5
Time Between Blocks: Every 1 minute
Difficulty Retarget: 500 blocks. Difficulty can only move a maximum of 100% up, or 50% down.
Reward halves: Every 2.1 million blocks
Block confirmations: 40
Transaction Confirmations: 1. Meaning transactions take ~1 minute to fully confirm.
Total Coin Supply: 21 million
Algorithms: Grøstl, Skein, BLAKE, BLUE MIDNIGHT WISH, JH, SHA-3
GUI: Unique design and optimizations
Launch: Fair launch with ascending rewards
The rewards scale up as a certain block is reached to prevent an unfair advantage.
Up To : Block Reward
500 : 0.05
1000 : 0.1
1500 : 0.25
2000 : 0.5
2500 : 1
3000 : 2
3500 : 3
4000 : 3.75
After block 4500, the regular block reward of 5 will be effective.
As authorized by Baritus - the creator of SecureCoin, the Securechain Wallet has been the official SecureCoin wallet while the old SecureCoin-Core wallet would be obsolete. Both Baritus and Securechain Developers would contribute to the development of Securechain Wallet in the future. Please visit the Securechain Wallet page for more information.
For a complete list of compiled wallet binary files please visit the Download page.
Source code is available at the github repository for compiling on Linux and other platforms.
GitHub Repository: https://github.com/securechain/securechain-wallet
Windows Securechain Wallet EXE
MAC Securechain Wallet Client
Getting started is easy and requires only a couple of steps. Add the list of nodes below as is to your configuration file. For details on the configuration file, see the bottom half of this page.
The config file name is securecoin.conf
The file AppData folder is hidden by default so make sure to enable viewing hidden files. Example: Windows drive(C:) -> Users -> *YourWindowsUsername*->AppData->Roaming->SecureCoin
Your securecoin.conf file should be in one of the following directories:
Press command+alt to show the library directory (if it is hidden) in the finder’s Go menu.
You can create a text file, add the nodes above, and put it in the directory for your operating system.
If you are having trouble connecting to the network after adding the above. Visit http://digitalcoin.co/forums/index.php/topic,184 for a comprehensive list of network nodes.
Sample Config file: https://bitcointalk.org/index.php?topic=270852.msg3038287#msg3038287
Creating your own config file: https://bitcointalk.org/index.php?topic=270852.msg3060316#msg3060316
SecureCoin is listed on the following exchanges:
- Cryptopia(in English): https://www.cryptopia.co.nz/Exchange/?market=SRC_BTC
Cryptopia is a relatively large scale exchange. Presently it supports SRC/BTC, SRC/LTC and SRC/DOGE pairs. The Marketplace section in the site can purchase items directly by Bitcoin/cryptocurrencies with respect to local law.
- Coinexchange(in English): https://www.coinexchange.io/market/SRC/BTC
Coinexchange is a middle scale exchange. Presently it supports SRC/BTC pair. The "SRC peers" section in the page contains detailed dynamic node information.
- Novaexchange(in English): https://novaexchange.com/market/BTC_SRC
Novaexchange is a middle scale exchange. Presently it supports SRC/BTC pair.
Grøstl is an iterated hash function, where the compression function is built from two fixed, large, different permutations. The design of Grøstl is transparent and based on principles very different from those used in the SHA-family.
The two permutations used are constructed using the wide trail design strategy, which makes it possible to give strong statements about the resistance of Grøstl against large classes of cryptanalytic attacks. Moreover, if these permutations are assumed to be ideal, there is a proof for the security of the hash function.
Skein is based on the Threefish tweakable block cipher compressed using Unique Block Iteration (UBI) chaining mode while leveraging an optional low-overhead argument-system for flexibility. Skein supports internal state sizes of 256, 512 and 1024 bits, and arbitrary output sizes. The authors claim 6.1 cycles per byte for any output size on an Intel Core 2 Duo in 64-bit mode.
BLAKE is a cryptographic hash function that is based on Dan Bernstein’s ChaCha stream cipher, but a permuted copy of the input block, XORed with some round constants, is added before each ChaCha round.
BLUE MIDNIGHT WISH
BLUE MIDNIGHT WISH is a cryptographic hash function with output size of n bits where n = 224, n 256, 384 or 512.
JH is a cryptographic hash function submitted to the NIST hash function competition by Hongjun Wu. Though chosen as one of the five finalists of the competition, JH ultimately lost to NIST hash candidate Keccak. JH has a 1024-bit state, and works on 512-bit output blocks.
SHA-3 uses the sponge construction in which message blocks are XORed into the initial bits of the state, which is then invertibly permuted. In the version used in SHA-3, the state consists of a 5×5 array of 64-bit words, 1600 bits total.
SecureCoin’s inflation rate is the same as Bitcoin’s. The two will produce an identical number of coins and at the same rate. There is no need to change a tried and tested economic model. This is also why SecureCoin is a version of bitcoin, because it keeps the same economic orientation. LTC borrowed the same economic model as BTC and it is one of the major reasons for its success.
YAC was one of the first coins to get CPU mining where it currently is and helped contribute to SRC’s functionality.
Sif deserves a mention for being the first to implement multiple hashing algorithms and proving the concept can work. The economy was however not successful.
Digitalcoin’s fair launch policy and community funded efforts helped form the concept for SRC.
- Securechain SecureCoin Block Explorer