What Is Venus LTC (vLTC)?

What Is Venus LTC (vLTC)? Complete Guide Review About Venus LTC.

What Is Venus LTC (vLTC)?

Venus LTC The blockchain is a software innovation for establishing digital trust between users who facilitate transactions of value over a network. The blockchain enables trust to be distributed throughout a network, without the need for a central intermediary to track, verify, and approve the digital exchange of value.

Venus LTC The notion of authorizing trust from a central intermediary currently underpins both private and government institutional structures; however, this is proving to be costly, slow, and also vulnerable to attack. The blockchain overcomes these issues by operating as a decentralized distributed database, maintaining a continuously growing list of records called blocks.

Venus LTC Storage Key Points

Coin BasicInformation
Coin NameVenus LTC
Short NamevLTC
Circulating Supply4,142,378.00 vLTC
Total Supply4,142,378
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

Document

Venus LTC The sudden loss of a shareholder could be a problem in order to retrieve the complete passphrase In this document they will continue to use the example of a family circle or friends in order to highlight the different case scenarios. One answer to this problem is what is called the key escrow, which allows a third party “under certain conditions” to access these shares. But what third party? Under what conditions? And how do they give it your moral but also technical confidence?

Venus LTC The escrow authority must be able to securely guarantee the confidentiality of the escrow keys. First, they would encrypt the data, this can be a private key or a seed with a secure encryption algorithm (like SHA256-512) and by using a passphrase. This passphrase could then be divided into shares and distributed by your TFC SD Protocol.

Group of trusted people

Venus LTC concept helps to resolve these issues of trust and security with the escrow authority. By requiring that two individuals collaborate to reveal the data in escrow, holders protect themselves from an isolated, malicious act. For example a holder would divide the passphrase of the escrow key and distribute the pieces to a group of trusted people called, The Family Circle (TFC). To break up the passphrase, simply distribute N pieces between N members of TFC, forcing them to meet together to use the private key escrow.

Venus LTC Two points are enough to define a line, three to define a parabola, four for a cubic, and so on. If now they want to share a secret, say the value 1234, between six individuals and three of them are needed to find the secret, they will randomly choose a parabola among those passing through the point (0, 1234) and they will give the coordinates of six of his/her points to these six individuals.

Family Circle

Venus LTC The Family Circle is a conglomerate of members belonging to a group; this group can include family members, a company’s group of stakeholders of trust, or simply a circle of friends. The TFC SDP is a protocol developed by Safe Haven in order to establish a circle of trust in your ecosystem. If they consider your techniques described above, they have a dealer (the person that wants to protect his legacy) and n players (his children and the validator [notaries]).

Venus LTC The dealer gives a secret to the players, but only when specific conditions are fulfilled. The dealer accomplishes this by giving each player a share in such a way that any group of t (for threshold) or more players can together reconstruct the secret but no group of less than t players can. Such a system is called a (t, n)-threshold scheme.

TFC SD Multiple Validators Possibility

Venus LTC No one is immortal, that’s why they provide the opportunity to establish a network of trust containing more than 1 validator. When you chose several validators to be involved, they push a backup smart contract in the blockchain that holds the necessary shares, n (players/children) -1, that can be used by a second validator. This offers a system of security, which is completely derived room share distribution and validation.

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