Recap of AMA Series #8: Crypto OLALA x Stealth with the attending of Dr. James Stroud— Lead Developer and Co-founder of Stealth.

On April 22th 2020, Stealth team and Crypto OLALA group organize an AMA to make the community members know more about projects and how will it help people to improve personal security with private digital currency solution. Here is recap of it:

SEGMENT 1: INTRODUCE AND QUESTION FROM OLALA TEAM

Moderator Mark asked somequestions, then Dr. James Stroud — Lead Developer and Co-Founder of Stealth answered. At this Session, the chat function was muted for members, except for admins & Stealth team.

Moderator Mark

Question 1: Can you briefly introduce yourself and the Stealth Project ?

Dr. James Stroud — Lead Developer and Co-Founder of Stealth
Sure!
My name is James Stroud and I am the Lead Developer and Co-Founder of Stealth R&D LLC, an organization dedicated to developing the Stealth Cryptocurrency. Stealth (XST) was launched in 2014 to a period of fair mining (proof-of-work), where all the coins in existence were mined, except for a small premine we used for development. This small premine was depleted in 2014, and we have been developing ever since.

Stealth’s goal as a cryptocurrency is to be the premiere blockchain for private (anonymous) transactions, with 5 second block times and full cryptographic anonymity. Stealth will achieve this through a combination of a highly efficient blockchain protocol called Junaeth (formerly known as qPoS) and with the privacy technology known as zkSNARKs, implemented in the zerocash protocol. No other blockchain aims to have this essential combination of speed and anonymity.

Moderator Mark

Question 2: Can you tell me about 2 types of blockchain ledgers on Stealth and what are the advantages of each? Why does Stealth qPoS fuses two different types of blockchain ledgers together?

Dr. James Stroud — Lead Developer and Co-Founder of Stealth

The two different types of ledgers are (1) the UTXO ledger like Bitcoin and many other blockchains have and (2) an account-based ledger like Ethereum, EOS, and many others. UTXOs work like traveler’s cheques, and are thus “stateless”, in that you can have a UTXO that can be created as a transaction and incorporated into a block any time. When a UTXO goes into a block, no state information is updated. An account-based ledger is stateful, in that every spending transaction requires both the sender and receiver accounts to be updated.

Account-based ledgers are more efficient because the state of the full ledger is reconciled every block, meaning transactions do not have to be searched to determine if a new transaction is valid. Only the balance of the sending account must be checked. Stealth uses account based ledgers to keep track of block rewards. Because blocks come every 5 seconds, using an account-based ledger saves over 17 thousand new UTXOs per day. This system also saves over 17 thousand signatures per day.

The stateless nature of UTXOs confers the advantage that they can be used for full cryptographic anonymity. In the zerocash system, any anonymous UTXO can be spent in any transaction, so the anonymity set is every single anonymous transaction ever created, and it grows by the day.
The combination of these two ledger types reflects the Stealth philosophy of efficiency wherein every single optimization possible is harnessed to make a better cryptocurrency.

Question 3: Security and anonymity are always prioritized by BlockChain projects in the development of project platforms and technologies. So, does Stealth have any technological solutions or plans to enhance user trust in these issues?

Dr. James Stroud — Lead Developer and Co-Founder of Stealth

Most cryptocurrencies do not have anonymity, although there is a great deal of interest in adding anonymity to the big cryptocurrencies, like Bitcoin, Ethereum, and Litecoin. Each will have fundamental challenges in scaling and efficiency, and even in achieving full cryptographic anonymity in any practical way whatsoever. Our main technological solution has been to develop the Junaeth protocol wherein a set of known block validators sign blocks in pseudo-randomly shuffled rounds. Each validator has a 5 second window in which to sign a block, and if a validator (called a StealthNode) misses its window, its future earning capacity is reduced.

Our approach to security is that game theory will and self-interest will incentivize block validators to act faithfully. Block validators must purchase their StealthNodes from the blockchain in a transaction that completely eliminates the purchase price from the money supply. The purchase is irreversible, and any activities that hurt the blockchain hurt the value of the StealthNode, and especially its future earning capacity. In other words, when someone purchases a StealthNode from the blockchain, it is in their best interest to act with their future earnings in mind.
In fact, Junaeth has a type of reputation system that is reflected in the trust score of the chain. Poorly behaving StealthNodes will lose reputation and have less influence on the trust. So not only will future earnings be damaged, influence will also be damaged. Put another way, a poorly behaving Stealth node can literally misbehave itself to irrelevance.

Question 4: Currently, the whole world and the BlockChain industry are affected by the Covid19 epidemic, so does this affect your 2020 Roadmap?

Dr. James Stroud — Lead Developer and Co-Founder of Stealth

No, we have continued development normally during the lockdown. Covid19 does not affect our financial situation because we have no financial situation. Our work is voluntary and relies on no funding source. That said, we are able to devote a significant amount of our waking hours to Stealth development no matter what the circumstances.

Moderator Mark

Now, Next Part 2 , Segment 1: Question From Twitter

Question1: What are your main goals in the future? Do you plan to list on other exchanges? What makes Stealth different from other blockchain projects? Does Stealth have any advantages to compete with previous strong development and community projects?” @okbabyqn88

Dr. James Stroud — Lead Developer and Co-Founder of Stealth

Our roadmap is available online at https://stealth.org/roadmap/

The main goal to which we have switched recently is to add the zerocash anonymity layer. This effort is already underway. We have recently completed the Junaeth protocol, which appears to work nearly perfectly on testnet, achieving reliable 5 second block intervals. We also recently completed the core implementation of an application programming interface called StealthExplore. We have some minor work left to do on StealthExplore, but we need to finish that work in concert with third party infrastructure providers who at this time are down because of Covid19.

Stealth’s advantage will be that it has the only high performance fully anonymous cryptocurrency available. We don’t believe in hype or promotion, just groundbreaking technology that is designed to meet the utility demands of the future. We will have the perfect blockchain available before the world awakens to the fact that it needs the features that Stealth offers.

Question 2: If you compare Quantum Proof-of-Stake (qPoS) with the PoS mechanisms of other blockchain projects, what are the advantages of qPoS? What are the benefits of participating in Staking XST token?@NguynTh69519120

Dr. James Stroud — Lead Developer and Co-Founder of Stealth

The advantages of Junaeth (formerly called qPoS) is that it gives 5 second block times and full cryptographic anonymity. It has optimizations that allow it to scale. One example are Certified Nodes, where block validators can advertise their IP (or Tor) addresses, allowing other nodes to selectively connect to them. This creates a highly connected core network topology superposed on the decentralized network topology that is the hallmark of cryptocurrencies. Because this network topology is superposed and not a substitute, it does not in any way diminish the decentralized nature of the network. For example, the continuous network remodeling used by distributed networks is in full effect even with Certified Nodes. I have written extensively about Certified Nodes in our blog, so I won’t cover them in detail now.

Right now it is possible to stake XST at a 20% per annum rate of return (valued in XST, of course). In the future, when the mainnet switches to Junaeth, only StealthNodes will be able to earn block rewards. At that point, the money supply will grow at only 1% per year. The chief advantage for XST holders is that they can securely store their XST without worrying that money supply inflation will significantly affect the value of their XST. I should of course say that XST value can go up or down as a result of many other factors.

Question 3: Can you please highlight more on the decentralization aspect using your technology. Also in the future, is it possible to quantify the level of decentralization and economic incentivization? @AlengReme

Dr. James Stroud — Lead Developer and Co-Founder of Stealth

Junaeth is a fully decentralized block validation protocol, chiefly because anyone will be able to purchase block signing rights from the blockchain. The purchase period hasn’t started on mainnet yet, so anyone can prepare for that period if they wish. It is fully open. Also, I should reiterate that no one receives any proceeds from purchasing a StealthNode block validator. The purchase price is effectively “burned”, meaning it is removed from the money supply. I should also say that purchasing a StealthNode does not guarantee returns on a USD (or any fiat) basis, because the price of XST can go up or down.

It is already possible to quantify decentralization by counting the number of block validators, and asking who has control over these validators. We expect Stealth to have about 30 StealthNodes on the network, and each of these StealthNodes could potentially represent independent actors. Once a StealthNode is purchased, its rights are irrevocable, even by stakeholders. Absolutely no one has any influence on a StealthNode owner/operator.

We can compare StealthNodes to other blockchains. My favorite comparison is with Steem. Steem is “delegated proof-of-stake”, and the block validators are known as “delegates”. Steem has 20 top delegates that essentially run the blockchain. Recently, the Steemit company that launched Steem, used its vast “ninjamined” stake to take complete control of the blockchain. While some may argue that Steemit’s reasons for commandeering the blockchain were sensible, my opinion is that there should be no way for anyone to take over a blockchain in this way. The irrevocable nature of StealthNodes ensures that the potential for a centralized takeover is impossible.

Moderator Mark

we are going to Segment 2

Segment 2: Free Q & A between the community and Stealth Project (XST)
Community members will conduct questions Mr.JAMES STROUD. Group will proceed to open chat in 3 minutes . We have 2 round . Mr.JAMES STROUD will answer questions from the community.

Question 1: PoS is prone to DDoS attack. How confident are you then in the security of stealth that uses a hybrid of PoS (qPoS)?

Dr. James Stroud — Lead Developer and Co-Founder of Stealth

The Stealth network by default runs over Tor, meaning it is practically impossible to pin down the physical location of Nodes on the Stealth network. It may be possible to spam certain nodes at the Stealth port with bad meassages, but this should be a fruitless type of attack because it is easy to ban other nodes at a single port.

I should mention that this type of dDoS attack is similar for any cryptocurrency, proof-of-stake or not.

Also, to avoid confusion with traditional proof-of-stake protocols, we decided to change the name of the blockchain validation protocol from qPoS to Junaeth, just for this reason.

Question 2:

1. The Anonymity of Stealth will make it With the Zcash Protocol, but Which type is more compatible With Stealth? Zk-snarks or Zk-Starks?

2. How the sidechains can be adapted to improve the privacy and Anonymity system? What is the perspective of Stealth this the sidechains?

Dr. James Stroud — Lead Developer and Co-Founder of Stealth

I’ll answer the 2nd question “How the sidechains can be adapted to improve the privacy and Anonymity system?“

Sidechains are planned (fairly far in the future) but they have no bearing on anonymity. Anonymity will be achieved using the zerocash protocol, not by mixing or sidechains.

That said, the particular architecture of Junaeth with its authoritative StealthNodes, means that it is straightforward to add services that rely on blockchain authorities, sidechains being one.

To give an idea how this works, a user can request that a StealthNode “facilitate” a sidechain, perhaps for a fee, using a smart contract on the main chain. The StealthNode, then locks the sidechain funds, and takes a fee when moving coins between the sidechain and mainchain. Fees can be competitive, to allow for flexibility and changes in XST’s price.

In this model for sidechains, only transfers to and from the main chain will be recorded in the Stealth blockchain and all sidechain transactions would be excluded.

There could be any number of sidechains, and if demand were high enough, the sidechain fees could catalyze the purchase of new StealthNodes.

Question 3: What’s the procedure and criteria to become stealth node validator? How’s the reward for a node validator?

Dr. James Stroud — Lead Developer and Co-Founder of Stealth

This is a very practical question.

The way to become a validator under Junaeth (when it is live on mainnet) is to simply purchase a StealthNode with the appropriate funds. Currently we anticipate StealthNodes will go for about 35 thousand (35000) XST. The purchase transaction is specialized, requiring the purchaser to type in a specific and moderately complicated command, but it is only done once for every StealthNode. Also, it is expected that purchasers are either technical themselves or have access to hired technical skill, because running a StealthNode validator is itself technical, requiring, for example, network administration skills.

Just for the sake of answering this question the command to purchase a staker takes the form:

purchasestaker <txid> <vout> <alias> <owner> [amount] [delegate controller payout]

And the first 4 parameters (txid, vout, alias, owner) are required. We don’t anticipate that most people will have any idea how to issue this command, but the team is always here to help, especially in our telegram channel.

Question 4: What role do you think #Stealth will play in making blockchain highly adaptable in the worldwide stage?

Dr. James Stroud — Lead Developer and Co-Founder of Stealth

We anticipate the Stealth will serve as the model for (or perhaps even become) the cryptocurrency that people want to use for fast, private transactions.

Additionally, we believe that these two features of a cryptocurrency will be considered indispensible in the coming years. Our goal is to be prepared with the archetype of the perfect decentralized payment solution before the world realizes that it needs it.

This perfect cryptocurrency solution is embodied as what we call “The Holy Grail of Crypto: a fast, feeless, private, and scalable blockchain.

I haven’t had a chance to explain how feeless transactions work today, but they are also part of our development plans.

Question 5: Monero, Zcoin and Stealth, all three use the Zerocash protocol. What are the big differences that Stealth has?

Dr. James Stroud — Lead Developer and Co-Founder of Stealth

Actually, of those three, only Stealth will uses the Zerocash protocol (unless there have been some new developments with Zcoin I’m unaware of).

Monero uses what is known as ring signatures. Ring signatures require enormous proofs, contributing to block sizes and blockchain bloat. In principle the signatures can be prunable, but their size and dificulty validating them can cause performance issues in real-time. I anticipate that cryptocurrencies that use Monero-style ring singnatures will never have regular block intervals less than a few minutes. Also, they will never quite scale as payment solutions. Stealth aims to be a true payment solution that gives a more complete level of anonymity than Monero-style ring signatures.

Finally ZCoin used the zerocoin protocol until it was found to be insecure. I don’t know what their plans are now.

Question 6: Use of a “Dapp” over an app is essential for market disruption or value creation for a good starting point
WHAT ARE YOUR PLANS ABOUT THAT?

Dr. James Stroud — Lead Developer and Co-Founder of Stealth

To support Dapps, a blockchain needs a smart contract virtual machine.

Fortunately the design of the Junaeth protocol, with account-based block validators allows for smart contracts, and they are certainly something we intend to add in the future (of course indefinitely far in the future).

Just for the purposes of answering this question, I will point out that smart contracts work best in a stateful environment, and fortunately a stateful environment is compatible with the Junaeth registry, that I mentioned is responsible for managing StealthNode block validation rewards.

I haven’t thought deeply about how Dapp support would be implemented, but the straighforward nature of adding sidechains would certainly make adding Dapp support much more realistic.

Question 7:

1) What type of user is the one that could take full advantage of an anonymous cryptocurrency like
Stealth?

2) Privacy is the strength and highlight at Stealth. But what can you tell us about security? What risk margin do you manage?
is there any other areas you would like to increase its strength?

3) Is there another quality that highlights Stealth?

Dr. James Stroud — Lead Developer and Co-Founder of Stealth

I’ll answer the first question “What type of user is the one that could take full advantage of an anonymous cryptocurrency like Stealth?”

I feel like anonymous currencies are for everyone. Most people don’t realize that traditional payment systems are much more anonymous than bitcoin. For example, consider for a moment who has knowledge of what you buy with your credit card. This information is shared only between you and the vendor. If for some reason the authorities need to learn of your purchases, they would either have to ask you or the vendor. This is no different from an anonymous cryptocurrency.

Yes! Thank you to everyone for your great questions! You have a very wonderful and informed community. I hope everyone can stay healthy during these times.

Cheers and have a great day!

Moderator Mark
ok , Thank you came here and talked to us. Thank you very much.
AMA is over
Open chat

Stealth media and website:
Website: https://stealth.org/
Twitter: https://twitter.com/stealthsend

Telegram: https://t.me/stealthsend

Crypto/Blockchain group for AMA, Airdrop, Bounty, Blockchain project analysis and news