The total reward pool was 200 USD<\/strong> and was split in 3 parts. Here is the recap of the AMA. <\/p>\n\n\n\n
Part 1<\/strong><\/h2>\n\n\n\nWe have collected hundreds of questions from the community and have selected 5 of them.<\/p>\n\n\n\n
Irina Kravchuk:<\/p>\n\n\n\n
Hi again friends. Our guest today is Dr. James Stroud – Lead\nDeveloper and Co-Founder at Stealth. Welcome dr. James. Thanks for taking the\ntime to join us.<\/p>\n\n\n\n
James:<\/p>\n\n\n\n
Hi, and thank you for this invitation!<\/p>\n\n\n\n
Serg:<\/p>\n\n\n\n
For introduction, can you tell us briefly about you and abut\nStealth?<\/p>\n\n\n\n
James:<\/p>\n\n\n\n
My name is James Stroud, and I am the Co-Founder and Lead\nDeveloper for Stealth R&D LLC, a company that is dedicated to developing\nthe Stealth cryptocurrency protocol and building infrastructure for it as well.<\/p>\n\n\n\n
I earned a B.S. from UT Austin in Molecular Biology, then a\nM.A. in Biochemistry from Columbia University in New York, then a Ph.D. in\nBiochemistry from the University of Colorado at Boulder, and finally did a\npostdoc at UCLA. I then joined the faculty in Chemistry at UNM and stayed there\nuntil I got into blockchain.<\/p>\n\n\n\n
I got into blockchain in 2013 during the enormous pump,\nwhere I bought BTC the top and watched it go down immediately. This left me not\ndefeated but even more resolute to become good at trading. It also made me\nexplore blockchain more deeply.<\/p>\n\n\n\n
After a couple of months of studying the technology, I\ndecided I had to participate somehow in any way I could, so I volunteered to\nhelp with some projects. The first thing I learned was to build the GUI\n(graphical user interface) clients.<\/p>\n\n\n\n
I don\u2019t know how many people that hold cryptocurrencies do\nit this way today, but when I first got into it, you typically had to download\na full blockchain and run a server to use most coins. The server program, which\nI call a \u201cclient\u201d, provided a GUI where you could send and receive coins.\nBuilding these for new coins was always a chore, and it was a good way for me\nto start to learn the details of cryptocurrency technology.<\/p>\n\n\n\n
Soon, I decided that I wanted to launch a coin myself, and\nthis was Stealth. We launched Stealth in 2014, and it was originally known as\nStealthCoin. My idea is that practically all cryptocurrencies lacked privacy,\nand Stealth would have a goal of being the premier private cryptocurrency.<\/p>\n\n\n\n
I\u2019ve been working on Stealth ever since, and in the last two\nyears, have been completely dedicated to it. I quit my faculty position at UNM\nin 2016, and joined a different gaming-focused cryptocurrency company. Stayed\nwith them for about 1.5 years, then founded Stealth R&D to exclusively\ndevelop Stealth\u2019s core technologies and related infrastructure.<\/p>\n\n\n\n
Irina Kravchuk:<\/p>\n\n\n\n
So you’re a veteran in this field. Thanks for the intro.\nWe’ll start with the questions from the community<\/p>\n\n\n\n
Serg:<\/p>\n\n\n\n
Q1 from\n@victbt<\/strong><\/p>\n\n\n\nWhat is the STEALTH business model? How do you\ngenerate the profit?<\/em><\/strong><\/p>\n\n\n\nJames:<\/p>\n\n\n\n
Stealth is a cryptocurrency, just like bitcoin. Neither have\na profit model. I launched Stealth a long time ago and I am dedicated to making\nit the most useful private currency possible.<\/p>\n\n\n\n
We have a company called Stealth R&D LLC that we made\nsimply to formalize the relationships between the core dev team and to\ninterface with exchanges who want an organization to \u201crepresent\u201d Stealth to the\nexchanges. They want to know who to call to if they have a problem with their\nblockchain, and things like that, so we made a company for that purpose.<\/p>\n\n\n\n
However, we don\u2019t have a business model for the coin itself.\nThere never was an \u201cICO\u201d or anything like that. It\u2019s a cryptocurrency and was\nmined out fairly and the mined coins and any coins earned from those through\nproof-of-stake are traded on exchanges.<\/p>\n\n\n\n
Irina Kravchuk:<\/p>\n\n\n\n
Our Q2 is somehow related to the motivation that might drive\nyou.<\/p>\n\n\n\n
Serg:<\/p>\n\n\n\n
Q2 from\n@toanphamhd<\/strong><\/p>\n\n\n\nWhat do you think is the biggest problem STEALTH will\nsolve which is not solved by other projects and why this is the problem\nimportant?<\/em><\/strong><\/p>\n\n\n\nJames:<\/p>\n\n\n\n
The biggest problem is a particular combination of\nrequirements that will make cryptocurrencies useful or not.<\/p>\n\n\n\n
First cryptocurrencies need to be useful for the whole\nplanet.<\/p>\n\n\n\n
That\u2019s called \u201cscalability\u201d.<\/p>\n\n\n\n
Second, cryptocurrencies need to have fast transactions, so\nthat the user experience is similar to the most convenient payment systems,\nlike credit cards. By fast, we mean a vendor and a customer should both feel a\ntransaction is final within 5 seconds.<\/p>\n\n\n\n
Third, crytpocurrencies need to offer at least the same\nlevel of privacy as other payment methods, like credit card. People don\u2019t think\nabout this very often, but credit cards are very private payment systems. Only\nthe vendor and you know what you bought, and only the vendor, credit card\ncompany, and yourself know how much you spent where.<\/p>\n\n\n\n
Most cryptocurrencies don\u2019t offer anywhere near this level\nof privacy.<\/p>\n\n\n\n
Irina Kravchuk:<\/p>\n\n\n\n
Speaking of privacy. Can you tell us how are you\/ Stealth\nrelated to Tor Project and Tor Browser?<\/p>\n\n\n\n
James:<\/p>\n\n\n\n
Bitcoin, for example is completely public. Services exist\nthat can identify individuals by network patterns within the bitcoin\nblockchain. If an identity can be tied to any single transaction, then\npractically all their blockchain spending patterns can be determined.<\/p>\n\n\n\n
Stealth is not related to Tor at all. We don\u2019t share\ndevelopment with them. Stealth has Tor technology integrated, unlike most\ncoins. Tor is there to protect privacy.<\/p>\n\n\n\n
Serg:<\/p>\n\n\n\n
but there are services which somehow randomize the\ntransactions, right? Or they are not so efficient?<\/p>\n\n\n\n
James:<\/p>\n\n\n\n
There are services that randomize bitcoin transactions, for\nexample. These are called \u201cmixers\u201d. I would not recommend ever using these\nservices.<\/p>\n\n\n\n
First a mixer is a proprietary service, not a trustless\nblockchain service. What this means is that a mixer can just keep your coins\nand never send them where you want them to go.<\/p>\n\n\n\n
Second, once you mix coins with a service, they are tainted.\nTainted coins can be blacklisted, and they are blacklisted with astonishing\nregularity.<\/p>\n\n\n\n
Irina Kravchuk:<\/p>\n\n\n\n
What does it mean if a coin is blacklisted?<\/p>\n\n\n\n
James:<\/p>\n\n\n\n
For example, an experiment I do not recommend running would\nbe to mix some coins and then send these coins to Coinbase. Once these coins\nare at Coinbase, they will detect that they were run through a mixer, and\ncompletely lock your account, maybe permanently. Then possibly deny you service\nin the future, indefinitely. That\u2019s a type of blacklisting.<\/p>\n\n\n\n
Irina Kravchuk:<\/p>\n\n\n\n
That’s interesting. But do they treat high-privacy coins\ndifferently? Like yourself or Monero etc. I mean you get the same result – you\ncan’t track the first sender<\/p>\n\n\n\n
James:<\/p>\n\n\n\n
This goes back to the fact that Bitcoin and most\ncryptocurrencies don\u2019t have privacy. This lack of privacy means different coins\ncan have different values. For example, to Coinbase, an unmixed amount of 1 BTC\nwill have a value of 1 BTC, but a mixed amount of 1 BTC will have a value of 0.<\/p>\n\n\n\n
Some exchanges allow trading in privacy coins. I believe\nCoinbase offers ZEC, which is a privacy coin. I don\u2019t remember Coinbase\u2019s\ncomplete offering, so I could be wrong.<\/p>\n\n\n\n
Serg:<\/p>\n\n\n\n
Q3 from\n@Magoy12 <\/strong><\/p>\n\n\n\nWhat is the main role of STEALTH tokens? Can you\nexplain in Details about Project’s Work and Mission with work of Token in\nEntire ecosystem?<\/em><\/strong><\/p>\n\n\n\nJames:<\/p>\n\n\n\n
It might be a misnomer to label the Stealth currency (XST)\nas a \u201ctoken\u201d. XST is the currency of the Stealth blockchain. Most of the time\nthe term \u201ctoken\u201d is reserved for passive tokens on a smart contract platform,\nlike Ethereum.<\/p>\n\n\n\n
This means the main role of Stealth is that it is a\ntrustless payment processor, like Bitcoin, Z-Cash (ZEC), or Ripple (XRP). Stealth\u2019s\nniche in the cryptocurrency \u201cecosystem\u201d is therefore a payment system for those\nwho demand the same privacy, speed, and scalability as they demand from\ntraditional, centralized, payment options like credit card.<\/p>\n\n\n\n
No other cryptocurrency that I know of is engineered to\noffer this combination.<\/p>\n\n\n\n
Serg:<\/p>\n\n\n\n
Q4 from\n@manugotsuka <\/strong><\/p>\n\n\n\nStealth, on one of your 2020 milestones will change\nfrom OpenSSL to secp256k1, this change will boost up the synchronization ans\nbootstraps times and also taking less CPU resources. But Why secp256k1 and not\nsecp256r1? I think this last one has more potencial with stealth in term of\nSECURITY and user PRIVACY?<\/em><\/strong><\/p>\n\n\n\nJames:<\/p>\n\n\n\n
Well, there are lots of different elliptical curves one can\nuse for public key cryptography. Stealth was launched using secp256k1, and so\nwe need to support that curve for existing transactions. In terms of this pair\nof curves, secp256r1 is marginally stronger, if you consider the bit strength\nof both curves.<\/p>\n\n\n\n
In my opinion, were we ever to change curves, we\u2019d opt for a\nquantum-resistance. I don\u2019t that secp256r1 could fit the bill. Of course,\nneither could secp256k1.<\/p>\n\n\n\n
Irina Kravchuk:<\/p>\n\n\n\n
Thank you. Small question here. How do you deal with\nvolatility?<\/p>\n\n\n\n
James:<\/p>\n\n\n\n
If you mean price volatility, we don\u2019t deal with price\nvolatility. It happens on its own. Stealth is a cryptocurrency and trading\nmarkets determine price. There is no mechanism in the protocol to stabilize its\nprice. There are lots of stable coins available, but XST is not one.<\/p>\n\n\n\n
Serg:<\/p>\n\n\n\n
Q5 from\n@dani_unss <\/strong><\/p>\n\n\n\nHow you compare to Zcash and Monero?<\/em><\/strong><\/p>\n\n\n\nJames:<\/p>\n\n\n\n
This is a tough question, because I don\u2019t want to offend\nanyone who may like either of these coins. But we have some differences, and I\nthink we are better, depending on one\u2019s requirements for a cryptocurrency.<\/p>\n\n\n\n
First, Zcash and Monero are both proof-of-work (PoW). PoW\nhas some advantages and disadvantages.<\/p>\n\n\n\n
First the disadvantage of PoW is that it is inefficient.\nWhen I say this, I\u2019m not talking about energy efficiency. Energy efficiency is\nvery important for the environment, but doesn\u2019t have much bearing on blockchain\nfunctionality.<\/p>\n\n\n\n
By inefficient, I mean PoW is a competition to sign the\nimmediate next block in the blockchain. Competition is inherently inefficient,\nand it makes block times slow and irregular.<\/p>\n\n\n\n
Stealth uses proof-of-stake (PoS), which can be very\nefficient, both for energy and blockchain function. The Junaeth protocol, which\nis fully functional in testnet, is on of the most efficient forms of PoS\npossible, using scheduled block production. In this system, there is no\ncompetition for the next block. This makes block times highly regular and fast,\nat nearly perfect 5 second intervals.<\/p>\n\n\n\n
Also, Monero and Z-cash have two different types of privacy.\nMonero uses ring signatures, which are themselves very inefficient because the\nblockchain proofs are very large. They also take a lot of time time verify.<\/p>\n\n\n\n
Irina Kravchuk:<\/p>\n\n\n\n
Why 5 seconds?<\/p>\n\n\n\n
James:<\/p>\n\n\n\n
Z-cash has much more efficient cryptography, the zerocash\nprotocol, and this is the same protocol we are adapting for Stealth.<\/p>\n\n\n\n
Five seconds is a long time for computers, so it gives\nplenty of time to verify blocks, and cryptographic proofs for anonymity. However,\nfor people it\u2019s short, and is about 1\/2 the time of a typical credit card\ntransaction.<\/p>\n\n\n\n
Consider if you use a card and insert a chip, you will wait\nabout 10 seconds for it to say \u201cconfirmed\u201d. Maybe it can be as few as 5\nseconds.<\/p>\n\n\n\n
So, we chose a time that was long for computers but short\nfor people. This makes Stealth highly useable but practical.<\/p>\n\n\n\n
Serg:<\/p>\n\n\n\n
Thanks for your answer!<\/p>\n\n\n\n
James:<\/p>\n\n\n\n
You are welcome!<\/p>\n\n\n\n
Part 2<\/strong><\/h2>\n\n\n\nThe chat was open for 2 minutes and 400 questions were\nposted by the Satoshi Club community. James have chosen 5 of them:<\/p>\n\n\n\n
Q1: Raj\nChoudary\u200f:<\/strong><\/p>\n\n\n\nWhich programming languages are you using in your\nproject? And why?<\/em><\/strong><\/p>\n\n\n\nJames:<\/p>\n\n\n\n
Stealth use a few languages, and it depends on what part of\nthe project. For the reference client, Stealth uses C++.<\/p>\n\n\n\n
A reference client can be considered the embodiment of the\nblockchain protocol. If you want to really see how the protocol behaves, you\ncan\u2019t simply read the specification, because the specification defines an ideal\nbehaviour.<\/p>\n\n\n\n
In reality, the only real definition of behavior is the code\nof the reference client. To give the most fundamental operational definition,\nif the reference client allows a transaction into the blockchain, then the\ntransaction is valid. That may seem too obvious, or \u201cit goes without saying\u201d,\nbut it is a profound definition of the reference client, and I recommend one\nponder that definition even if it does seem obvious.<\/p>\n\n\n\n
Stealth uses C++ for the reference client because it is\nfast. Bitcoin was written in C++, and Stealth inherited a lot of the Bitcoin\ncode. For other parts of the project, Stealth uses python. For example, to\nlinearize a blockchain to create a bootstrap, the code is practically all in\npython.<\/p>\n\n\n\n
Q2: Kun\nAguero:<\/strong><\/p>\n\n\n\nAs you know that in the present market situation many\nnew coins or either dying or thriving for liquidity? How will you manage this\nliquidity problem?<\/em><\/strong><\/p>\n\n\n\nJames:<\/p>\n\n\n\n
Just like we don\u2019t manage volatility, we don\u2019t manage market\nliquidity. The markets decide what coins live and what coins die. My philosophy\nis that useful, innovative, and well-engineered technology will be the most\nimportant considerations for markets. For this reason, we focus on Stealth\ntechnology, not market issues.<\/p>\n\n\n\n
Q3: Sergio:<\/strong><\/p>\n\n\n\nMarketing is a leading element for every project. So what is your strategy to attract customers\nand investors to XST in the long term?<\/em><\/strong><\/p>\n\n\n\nJames:<\/p>\n\n\n\n
I\u2019m focusing in market questions today, so I can clear some\nair. Congratulations to those of you who offered these questions. Normally, I\navoid them. This question might be boiled down to \u201cwhat is our strategy to\nattract customers?\u201d<\/p>\n\n\n\n
Stealth has no customers. It\u2019s a cryptocurrency. We don\u2019t\noffer Stealth for sale, so we don\u2019t have investors. We have nothing to offer\ninvestors ourselves.<\/p>\n\n\n\n
We focus on developing the protocol. The only exception is\nwe believe it is important to present our technology, ideas, and work to the\npublic for feedback. To this end, we attend conferences, give talks, and\nparticipate in AMAs, like this one.<\/p>\n\n\n\n
However, we are not XST salespeople. If anyone is interested\nin XST or the technology, they don\u2019t need to own the actual currency. They can\nhelp write code, offer suggestions, or simply ask good questions.<\/p>\n\n\n\n
Q4: David\nPrince:<\/strong><\/p>\n\n\n\nWhat are your plans to move towards a more\ndecentralized and trustless solution?<\/em><\/strong><\/p>\n\n\n\nJames:<\/p>\n\n\n\n
Stealth is already decentralized and trustless. It is a blockchain\nprotocol with consensus rules. It was mined fairly and is presently\nproof-of-stake. The type of proof-of-stake consensus protocol will change\nsignificantly when Junaeth is on mainnet (it is functioning on testnet right\nnow). But this change will not make XST any more or less trustless than it\nalready is.<\/p>\n\n\n\n
Q5: Alice\nC\u1eafn d\u00e0y:<\/strong><\/p>\n\n\n\nTrust is very important in security, what makes\ninvestors, customers and users feel safe when working with Stealth?<\/em><\/strong><\/p>\n\n\n\nJames:<\/p>\n\n\n\n
One last market question! I may never answer these types\nagain 😎<\/p>\n\n\n\n
I already mentioned Stealth has no customers and offers\n\u201cinvestors\u201d nothing. If one wants to decide whether they \u201ctrust\u201d Stealth\u2019s\ntrustless consensus model, the code is open source, and the protocol is\nspecified in the white paper.<\/p>\n\n\n\n
I believe this is truly the only way to trust any\ncryptocurrency. If one relies on \u201ctrusting\u201d founders or a business model, I\nthink they could make a costly mistake.<\/p>\n\n\n\n
For those who are not technical, wait for cryptocurrencies\nthat stand the test of time and to be vetted by the expert community. Poor\ncryptocurrencies will die quickly. Good cryptocurrencies will last for years\nand decades.<\/p>\n\n\n\n
Part 3<\/strong><\/h2>\n\n\n\nWe had a quiz with 4 questions. 20 winners were announced:<\/p>\n\n\n\n
Question 1:<\/strong><\/p>\n\n\n\nBy what algorithm Stealth Blockchain network aims to achieve\ndistributed consensus?<\/p>\n\n\n\n
Correct Answer:<\/p>\n\n\n\n
QPOS<\/p>\n\n\n\n
Question 2:<\/strong><\/p>\n\n\n\nHow many tps have Stealth blockchain compared to bitcoin:<\/p>\n\n\n\n
Correct Answer:<\/p>\n\n\n\n
10x faster<\/p>\n\n\n\n
Question 3:<\/strong><\/p>\n\n\n\nWhen Stealth was founded?<\/p>\n\n\n\n
Correct Answer:<\/p>\n\n\n\n
July 2014<\/p>\n\n\n\n
Question 4:<\/strong><\/p>\n\n\n\nWhat blockchain uses stealth?<\/p>\n\n\n\n
Correct Answer:<\/p>\n\n\n\n
Stealth Blockchain<\/p>\n\n\n\n![\"\"](\"https:\/\/esatoshi.club\/wp-content\/uploads\/photo_2020-04-02_14-24-58.jpg\")
<\/figure>\n\n\nFor more information and future AMAs, join our Social Media channels:<\/strong><\/em>
English Telegram group: https:\/\/t.me\/Satoshi_club<\/a>
Russian Telegram group: https:\/\/t.me\/satoshi_club_ru<\/a>
Telegram Channel: https:\/\/t.me\/satoshi_club_channel<\/a>
Twitter: https:\/\/twitter.com\/realsatoshiclub<\/a>
Website: https:\/\/esatoshi.club\/<\/a><\/p>\n<\/p>\n
<\/p>\n
What is the STEALTH business model? How do you\ngenerate the profit?<\/em><\/strong><\/p>\n\n\n\n James:<\/p>\n\n\n\n Stealth is a cryptocurrency, just like bitcoin. Neither have\na profit model. I launched Stealth a long time ago and I am dedicated to making\nit the most useful private currency possible.<\/p>\n\n\n\n We have a company called Stealth R&D LLC that we made\nsimply to formalize the relationships between the core dev team and to\ninterface with exchanges who want an organization to \u201crepresent\u201d Stealth to the\nexchanges. They want to know who to call to if they have a problem with their\nblockchain, and things like that, so we made a company for that purpose.<\/p>\n\n\n\n However, we don\u2019t have a business model for the coin itself.\nThere never was an \u201cICO\u201d or anything like that. It\u2019s a cryptocurrency and was\nmined out fairly and the mined coins and any coins earned from those through\nproof-of-stake are traded on exchanges.<\/p>\n\n\n\n Irina Kravchuk:<\/p>\n\n\n\n Our Q2 is somehow related to the motivation that might drive\nyou.<\/p>\n\n\n\n Serg:<\/p>\n\n\n\n Q2 from\n@toanphamhd<\/strong><\/p>\n\n\n\n What do you think is the biggest problem STEALTH will\nsolve which is not solved by other projects and why this is the problem\nimportant?<\/em><\/strong><\/p>\n\n\n\n James:<\/p>\n\n\n\n The biggest problem is a particular combination of\nrequirements that will make cryptocurrencies useful or not.<\/p>\n\n\n\n First cryptocurrencies need to be useful for the whole\nplanet.<\/p>\n\n\n\n That\u2019s called \u201cscalability\u201d.<\/p>\n\n\n\n Second, cryptocurrencies need to have fast transactions, so\nthat the user experience is similar to the most convenient payment systems,\nlike credit cards. By fast, we mean a vendor and a customer should both feel a\ntransaction is final within 5 seconds.<\/p>\n\n\n\n Third, crytpocurrencies need to offer at least the same\nlevel of privacy as other payment methods, like credit card. People don\u2019t think\nabout this very often, but credit cards are very private payment systems. Only\nthe vendor and you know what you bought, and only the vendor, credit card\ncompany, and yourself know how much you spent where.<\/p>\n\n\n\n Most cryptocurrencies don\u2019t offer anywhere near this level\nof privacy.<\/p>\n\n\n\n Irina Kravchuk:<\/p>\n\n\n\n Speaking of privacy. Can you tell us how are you\/ Stealth\nrelated to Tor Project and Tor Browser?<\/p>\n\n\n\n James:<\/p>\n\n\n\n Bitcoin, for example is completely public. Services exist\nthat can identify individuals by network patterns within the bitcoin\nblockchain. If an identity can be tied to any single transaction, then\npractically all their blockchain spending patterns can be determined.<\/p>\n\n\n\n Stealth is not related to Tor at all. We don\u2019t share\ndevelopment with them. Stealth has Tor technology integrated, unlike most\ncoins. Tor is there to protect privacy.<\/p>\n\n\n\n Serg:<\/p>\n\n\n\n but there are services which somehow randomize the\ntransactions, right? Or they are not so efficient?<\/p>\n\n\n\n James:<\/p>\n\n\n\n There are services that randomize bitcoin transactions, for\nexample. These are called \u201cmixers\u201d. I would not recommend ever using these\nservices.<\/p>\n\n\n\n First a mixer is a proprietary service, not a trustless\nblockchain service. What this means is that a mixer can just keep your coins\nand never send them where you want them to go.<\/p>\n\n\n\n Second, once you mix coins with a service, they are tainted.\nTainted coins can be blacklisted, and they are blacklisted with astonishing\nregularity.<\/p>\n\n\n\n Irina Kravchuk:<\/p>\n\n\n\n What does it mean if a coin is blacklisted?<\/p>\n\n\n\n James:<\/p>\n\n\n\n For example, an experiment I do not recommend running would\nbe to mix some coins and then send these coins to Coinbase. Once these coins\nare at Coinbase, they will detect that they were run through a mixer, and\ncompletely lock your account, maybe permanently. Then possibly deny you service\nin the future, indefinitely. That\u2019s a type of blacklisting.<\/p>\n\n\n\n Irina Kravchuk:<\/p>\n\n\n\n That’s interesting. But do they treat high-privacy coins\ndifferently? Like yourself or Monero etc. I mean you get the same result – you\ncan’t track the first sender<\/p>\n\n\n\n James:<\/p>\n\n\n\n This goes back to the fact that Bitcoin and most\ncryptocurrencies don\u2019t have privacy. This lack of privacy means different coins\ncan have different values. For example, to Coinbase, an unmixed amount of 1 BTC\nwill have a value of 1 BTC, but a mixed amount of 1 BTC will have a value of 0.<\/p>\n\n\n\n Some exchanges allow trading in privacy coins. I believe\nCoinbase offers ZEC, which is a privacy coin. I don\u2019t remember Coinbase\u2019s\ncomplete offering, so I could be wrong.<\/p>\n\n\n\n Serg:<\/p>\n\n\n\n Q3 from\n@Magoy12 <\/strong><\/p>\n\n\n\n What is the main role of STEALTH tokens? Can you\nexplain in Details about Project’s Work and Mission with work of Token in\nEntire ecosystem?<\/em><\/strong><\/p>\n\n\n\n James:<\/p>\n\n\n\n It might be a misnomer to label the Stealth currency (XST)\nas a \u201ctoken\u201d. XST is the currency of the Stealth blockchain. Most of the time\nthe term \u201ctoken\u201d is reserved for passive tokens on a smart contract platform,\nlike Ethereum.<\/p>\n\n\n\n This means the main role of Stealth is that it is a\ntrustless payment processor, like Bitcoin, Z-Cash (ZEC), or Ripple (XRP). Stealth\u2019s\nniche in the cryptocurrency \u201cecosystem\u201d is therefore a payment system for those\nwho demand the same privacy, speed, and scalability as they demand from\ntraditional, centralized, payment options like credit card.<\/p>\n\n\n\n No other cryptocurrency that I know of is engineered to\noffer this combination.<\/p>\n\n\n\n Serg:<\/p>\n\n\n\n Q4 from\n@manugotsuka <\/strong><\/p>\n\n\n\n Stealth, on one of your 2020 milestones will change\nfrom OpenSSL to secp256k1, this change will boost up the synchronization ans\nbootstraps times and also taking less CPU resources. But Why secp256k1 and not\nsecp256r1? I think this last one has more potencial with stealth in term of\nSECURITY and user PRIVACY?<\/em><\/strong><\/p>\n\n\n\n James:<\/p>\n\n\n\n Well, there are lots of different elliptical curves one can\nuse for public key cryptography. Stealth was launched using secp256k1, and so\nwe need to support that curve for existing transactions. In terms of this pair\nof curves, secp256r1 is marginally stronger, if you consider the bit strength\nof both curves.<\/p>\n\n\n\n In my opinion, were we ever to change curves, we\u2019d opt for a\nquantum-resistance. I don\u2019t that secp256r1 could fit the bill. Of course,\nneither could secp256k1.<\/p>\n\n\n\n Irina Kravchuk:<\/p>\n\n\n\n Thank you. Small question here. How do you deal with\nvolatility?<\/p>\n\n\n\n James:<\/p>\n\n\n\n If you mean price volatility, we don\u2019t deal with price\nvolatility. It happens on its own. Stealth is a cryptocurrency and trading\nmarkets determine price. There is no mechanism in the protocol to stabilize its\nprice. There are lots of stable coins available, but XST is not one.<\/p>\n\n\n\n Serg:<\/p>\n\n\n\n Q5 from\n@dani_unss <\/strong><\/p>\n\n\n\n How you compare to Zcash and Monero?<\/em><\/strong><\/p>\n\n\n\n James:<\/p>\n\n\n\n This is a tough question, because I don\u2019t want to offend\nanyone who may like either of these coins. But we have some differences, and I\nthink we are better, depending on one\u2019s requirements for a cryptocurrency.<\/p>\n\n\n\n First, Zcash and Monero are both proof-of-work (PoW). PoW\nhas some advantages and disadvantages.<\/p>\n\n\n\n First the disadvantage of PoW is that it is inefficient.\nWhen I say this, I\u2019m not talking about energy efficiency. Energy efficiency is\nvery important for the environment, but doesn\u2019t have much bearing on blockchain\nfunctionality.<\/p>\n\n\n\n By inefficient, I mean PoW is a competition to sign the\nimmediate next block in the blockchain. Competition is inherently inefficient,\nand it makes block times slow and irregular.<\/p>\n\n\n\n Stealth uses proof-of-stake (PoS), which can be very\nefficient, both for energy and blockchain function. The Junaeth protocol, which\nis fully functional in testnet, is on of the most efficient forms of PoS\npossible, using scheduled block production. In this system, there is no\ncompetition for the next block. This makes block times highly regular and fast,\nat nearly perfect 5 second intervals.<\/p>\n\n\n\n Also, Monero and Z-cash have two different types of privacy.\nMonero uses ring signatures, which are themselves very inefficient because the\nblockchain proofs are very large. They also take a lot of time time verify.<\/p>\n\n\n\n Irina Kravchuk:<\/p>\n\n\n\n Why 5 seconds?<\/p>\n\n\n\n James:<\/p>\n\n\n\n Z-cash has much more efficient cryptography, the zerocash\nprotocol, and this is the same protocol we are adapting for Stealth.<\/p>\n\n\n\n Five seconds is a long time for computers, so it gives\nplenty of time to verify blocks, and cryptographic proofs for anonymity. However,\nfor people it\u2019s short, and is about 1\/2 the time of a typical credit card\ntransaction.<\/p>\n\n\n\n Consider if you use a card and insert a chip, you will wait\nabout 10 seconds for it to say \u201cconfirmed\u201d. Maybe it can be as few as 5\nseconds.<\/p>\n\n\n\n So, we chose a time that was long for computers but short\nfor people. This makes Stealth highly useable but practical.<\/p>\n\n\n\n Serg:<\/p>\n\n\n\n Thanks for your answer!<\/p>\n\n\n\n James:<\/p>\n\n\n\n You are welcome!<\/p>\n\n\n\n The chat was open for 2 minutes and 400 questions were\nposted by the Satoshi Club community. James have chosen 5 of them:<\/p>\n\n\n\n Q1: Raj\nChoudary\u200f:<\/strong><\/p>\n\n\n\n Which programming languages are you using in your\nproject? And why?<\/em><\/strong><\/p>\n\n\n\n James:<\/p>\n\n\n\n Stealth use a few languages, and it depends on what part of\nthe project. For the reference client, Stealth uses C++.<\/p>\n\n\n\n A reference client can be considered the embodiment of the\nblockchain protocol. If you want to really see how the protocol behaves, you\ncan\u2019t simply read the specification, because the specification defines an ideal\nbehaviour.<\/p>\n\n\n\n In reality, the only real definition of behavior is the code\nof the reference client. To give the most fundamental operational definition,\nif the reference client allows a transaction into the blockchain, then the\ntransaction is valid. That may seem too obvious, or \u201cit goes without saying\u201d,\nbut it is a profound definition of the reference client, and I recommend one\nponder that definition even if it does seem obvious.<\/p>\n\n\n\n Stealth uses C++ for the reference client because it is\nfast. Bitcoin was written in C++, and Stealth inherited a lot of the Bitcoin\ncode. For other parts of the project, Stealth uses python. For example, to\nlinearize a blockchain to create a bootstrap, the code is practically all in\npython.<\/p>\n\n\n\n Q2: Kun\nAguero:<\/strong><\/p>\n\n\n\n As you know that in the present market situation many\nnew coins or either dying or thriving for liquidity? How will you manage this\nliquidity problem?<\/em><\/strong><\/p>\n\n\n\n James:<\/p>\n\n\n\n Just like we don\u2019t manage volatility, we don\u2019t manage market\nliquidity. The markets decide what coins live and what coins die. My philosophy\nis that useful, innovative, and well-engineered technology will be the most\nimportant considerations for markets. For this reason, we focus on Stealth\ntechnology, not market issues.<\/p>\n\n\n\n Q3: Sergio:<\/strong><\/p>\n\n\n\n Marketing is a leading element for every project. So what is your strategy to attract customers\nand investors to XST in the long term?<\/em><\/strong><\/p>\n\n\n\n James:<\/p>\n\n\n\n I\u2019m focusing in market questions today, so I can clear some\nair. Congratulations to those of you who offered these questions. Normally, I\navoid them. This question might be boiled down to \u201cwhat is our strategy to\nattract customers?\u201d<\/p>\n\n\n\n Stealth has no customers. It\u2019s a cryptocurrency. We don\u2019t\noffer Stealth for sale, so we don\u2019t have investors. We have nothing to offer\ninvestors ourselves.<\/p>\n\n\n\n We focus on developing the protocol. The only exception is\nwe believe it is important to present our technology, ideas, and work to the\npublic for feedback. To this end, we attend conferences, give talks, and\nparticipate in AMAs, like this one.<\/p>\n\n\n\n However, we are not XST salespeople. If anyone is interested\nin XST or the technology, they don\u2019t need to own the actual currency. They can\nhelp write code, offer suggestions, or simply ask good questions.<\/p>\n\n\n\n Q4: David\nPrince:<\/strong><\/p>\n\n\n\n What are your plans to move towards a more\ndecentralized and trustless solution?<\/em><\/strong><\/p>\n\n\n\n James:<\/p>\n\n\n\n Stealth is already decentralized and trustless. It is a blockchain\nprotocol with consensus rules. It was mined fairly and is presently\nproof-of-stake. The type of proof-of-stake consensus protocol will change\nsignificantly when Junaeth is on mainnet (it is functioning on testnet right\nnow). But this change will not make XST any more or less trustless than it\nalready is.<\/p>\n\n\n\n Q5: Alice\nC\u1eafn d\u00e0y:<\/strong><\/p>\n\n\n\n Trust is very important in security, what makes\ninvestors, customers and users feel safe when working with Stealth?<\/em><\/strong><\/p>\n\n\n\n James:<\/p>\n\n\n\n One last market question! I may never answer these types\nagain 😎<\/p>\n\n\n\n I already mentioned Stealth has no customers and offers\n\u201cinvestors\u201d nothing. If one wants to decide whether they \u201ctrust\u201d Stealth\u2019s\ntrustless consensus model, the code is open source, and the protocol is\nspecified in the white paper.<\/p>\n\n\n\n I believe this is truly the only way to trust any\ncryptocurrency. If one relies on \u201ctrusting\u201d founders or a business model, I\nthink they could make a costly mistake.<\/p>\n\n\n\n For those who are not technical, wait for cryptocurrencies\nthat stand the test of time and to be vetted by the expert community. Poor\ncryptocurrencies will die quickly. Good cryptocurrencies will last for years\nand decades.<\/p>\n\n\n\n We had a quiz with 4 questions. 20 winners were announced:<\/p>\n\n\n\n Question 1:<\/strong><\/p>\n\n\n\n By what algorithm Stealth Blockchain network aims to achieve\ndistributed consensus?<\/p>\n\n\n\n Correct Answer:<\/p>\n\n\n\n QPOS<\/p>\n\n\n\n Question 2:<\/strong><\/p>\n\n\n\n How many tps have Stealth blockchain compared to bitcoin:<\/p>\n\n\n\n Correct Answer:<\/p>\n\n\n\n 10x faster<\/p>\n\n\n\n Question 3:<\/strong><\/p>\n\n\n\n When Stealth was founded?<\/p>\n\n\n\n Correct Answer:<\/p>\n\n\n\n July 2014<\/p>\n\n\n\n Question 4:<\/strong><\/p>\n\n\n\n What blockchain uses stealth?<\/p>\n\n\n\n Correct Answer:<\/p>\n\n\n\n Stealth Blockchain<\/p>\n\n\n\n For more information and future AMAs, join our Social Media channels:<\/strong><\/em> <\/p>\n <\/p>\nPart 2<\/strong><\/h2>\n\n\n\n
Part 3<\/strong><\/h2>\n\n\n\n
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