What Is SecureCoin (SRC)?
SecureCoin is a fast and secure cryptographic digital currency based on Bitcoin. The specifications have been carefully chosen to maintain Bitcoin’s economic model. 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. 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.
SecureCoin Storage Key Points
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|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
Wide trail design strategy
SecureCoin 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. It is also suggested to set a wallet password before backup. Please be sure to remember the password, as it is unrecoverable once forgotten.
Skein is based on the Threefish tweak able block cipher compressed using Unique Block Iteration (UBI) chaining mode while leveraging an optional low-overhead argument-system for flexibility. SecureCoin 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.
However, logical assumptions can be made based on an understanding of how investors’ returns and risk preferences come from pricing different asset classes. This provides evidence that digital assets can be viewed as a diversified component of a portfolio of multiple assets.
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. SecureCoin 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. Digital technologies such as Ethereum (ETH) bring up the concept of a block chain platform by enabling autonomous, condition-based payments using smart contracts, and provide devices for DApps to be used in various ways within the platform.
SecureCoin 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 SecureCoin 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.