Undoubtedly, social networks were created for fun and entertainment, however, we need to speak about serious manners here too. Therefore, today we decided to draw your attention on #BINcoin technical details, namely BINcoin Blockchain Tools⬇️⬇️⬇️
✔️As we have mentioned in the website, we used #cryptonight classic algorithm along with #cryptonote protocol.
✔️CryptoNote supports Ring signatures which used for untraceable payment. Every transaction verification process involves the public key of signer.
✔️Private transaction: Usually in another blockchain, any incoming transactions can be checked, even if they are hidden using ring signature. But in our blockchain, a user can create multiple hundreds of keys and send them to payer privately. All these keys are connected with your single public address.
✔️Double spending Proof: if any user creates more than one ring signature using one private key, all these signatures can be linked together which indicates double spending attempt. This function restricts a signer's anonymity. Along with this, #cryptonote have one special marker for signing, its called Key image. The key image is unavoidable, unambiguous and yet an anonymous marker of the private key. Using this image, it's impossible to recover the private key. This is very important in any blockchain tools.
✔️CryptoNote has Smooth Emissive curve because it has standard transaction process. protocol finds his best and fastest way to transact within blockchain.
✔️POW: We have used the cryptonight algorithm in Which Mining can happen with CPU, GPU as well ASIC. Though it restricts ASIC, you can Mine it.
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