Stealth: Quantum Proof-of-Stake (qPoS) Cryptocurrency for ID Protection?
What Is Stealth?
Stealth is a cryptocurrency that seeks to provide its holders with access to the fastest blockchain that features instant transactions and advanced privacy protection. This can be attributed to the utilization of a state of the art cryptography combined with the integration of the TOR network.
Stealth implements the Quantum Proof-of-Stake protocol, whereby the block-signing node is determined by the round-robin certification system and the rewards from mining are dynamically adjusted and driven by results.
Stealth was launched in 2014 as a privacy coin that would fulfill the growing need for a coin that was secure and anonymous. Most of the coins that were launched around the same time as Stealth had public blockchains where anyone could view all the transactions made using the coins as well as analyze all its blockchain activity.
How Stealth Works
Stealth utilizes the TOR network to hide the transaction details and prevent anyone from being able to trace transactions to the wallet address or user that carried out the transaction. During a transaction, the TOR protocol has a public receiving address containing infinite number of private addresses.
This means that there will be no way for third parties to know the amount of Stealth coins sent to a private address after the coins are transferred to the public address or who is the recipient of the coins. This ensures that the actual destination receiving the Stealth remains anonymous.
Users can buy, sell, receive, exchange and request for Stealth using the StealthPay trading platform. Apart from Stealth, the trading platform is compatible with other cryptocurrencies or fiat currencies. StealthPay also makes it possible for users to pay for products at merchants like Amazon and eBay using the Stealth coins.
Owners can send Stealth securely and anonymously to other users through the StealthSend platform. The platform is designed in such a way that third parties cannot access, view, or tamper with the transaction details, thus ensuring complete anonymity.
Stealth can be purchased and traded on Bittrex, Poloniex, and Cryptopia. Users can also earn the coins by staking Stealth coins they own. The Stealth cryptocurrency can be stored in hardware wallets like the Ledger Nano S.
Stealth implements the Proof-of-Work consensus mechanism that is more environment-friendly and energy efficient. This result in a stable and secure blockchain network that consumes fewer resources compared to similar coins utilizing the POW network.
Stealth prioritizes anonymity and privacy of its user’s coin, information and transaction history by implementing advanced cryptographic protection features. The coin receives frequent updates and it will be one of the first coins integrated with support of the Blocknet protocol. This will enable trading using Stealth to take place on a decentralized and trustless exchange platform.
During the launch of Stealth, Instamining was prevented by setting very low block rewards for the first four hours. This strategy enabled all miners to configure the mining equipment and prevent miners with a lot of hashing power from having an unfair advantage over the small-scale miners.
Complete Obfuscation Of Addresses
By utilizing the TOR protocol, Stealth has become one of the first cryptocurrencies to completely obfuscate wallet addresses and transactions details.