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Privacy

Conceal Network

Article by Jakalon

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Disclaimer: This article was not written by me and was originally published in Turkish by Jakalon , with his permission, I translated it into English for a broader audience with the help of LolitaLollipop & Mannan from the Conceal team. - Mr_Kwibs 


First of all, in order to refresh our knowledge, let’s make an introduction by quoting from my old articles and giving some basic information. Privacy”(in English) literally translates to privacy(in Turkish).


Although this subject is often considered a “feature” in the crypto world along with what else it has to offer, though it is not such a simple matter.

The concept of privacy is not just a choice, but a necessity. So it’s indispensable.

Perhaps the first of the main reasons for the existence of cryptocurrencies is that they are sent directly between the buyer and the seller in exchange for goods or services, and in this sense, it rivals the banking system we know.

For non-trade, goods, or service use, the first thing to look for should be that the wallets are confidential.

Some examples of this are, does your neighbor know how much money you have? Or do you tell anyone who asks how much you have? Or how much gold is in your home? You naturally exhibit privacy here.

There may be many reasons for this behavior, but in my opinion, the most prominent one is the fear of what you have being stolen, this is human instinct.

By feeling this the urge to hide, you naturally prevent the dangers that may come from outside by providing yourself with privacy.

So, when this is the case in real life, why should anyone know what’s in your wallet with the money you send to someone in the digital world?

When the wallet address of a coin is non-confidential, the assets in it can also be seen.

If we go into detail, when entries and exits were made, which wallets your coins went to, how much money was in the outgoing wallets, and with which wallets they interacted, all of these can be tracked.

There are people who are specialized in this business, and the information that these people get by doing wallet monitoring is sometimes shocking.

For example, I am talking about very important information, from monitoring the wallets of teams or exchanges to making a buying or selling decision on investment.

Now that the importance of privacy is understood, let’s move on. I think privacy coins will always exist in the crypto market, fulfilling a very important basic need.

Now let’s start to review Conceal Network, which I have been following for a long time and is included in my portfolio.

https://conceal.network/


Conceal Network is a 100% open-source and community-driven decentralized blockchain with interest-paying deposits without the involvement of financial institutions.

Conceal Network has no owner; therefore, anyone can take part.

Conceal Network provides untraceable anonymous messaging and a secure way to transfer money. ₡CCX, Conceal Network’s native coin, is based on the Cryptonote protocol and runs on a secure peer-to-peer network technology that operates without a central authority.

The most important feature of Conceal, which will celebrate its 4th anniversary soon, is that it has not been forked from any other project, unlike many other privacy coins, and has been up and running since the first day it came out.

Since protection was provided from the beginning, the network’s privacy-preserving protocol could not be deduced, thus maintaining a high level of confidentiality. I recommend you specifically question this when investing in other projects, as many well-known privacy projects do not meet this criterion.

My favorite thing about the project, is that it has many volunteers who have passed from the community to the team and that they are constantly working to improve it.

As far as I know, they have 8 software developers as of now.

Among them are well-known names such as FireIceUK, the main developer of the XMR-Stak mining program, which previously had an important place in Monero and GPU mining.

At the beginning of this year, they added 11 languages, including Turkish, to their website. You can understand and obtain a lot of detailed information just by looking at the website.

They also started to add quality content to their Youtube channel, as you can see below. Again, subtitle options in other languages ​​will be added to this content.


There is a variety of wallets for Conceal that can be seen in very few projects.

Unlike their other wallet types, their cloud wallet has information stored on servers, so even if the private key is forgotten, reset information can be sent to the users’ e-mail. This method, which is used in order to not lose your savings, has been the subject of criticism in the previous project reviews because they are a privacy project. Within this year, the team aims to achieve complete security and privacy by moving these cloud wallets client-side.

So many wallet varieties are still not enough as the multi-sig wallet model is also in the works to be implemented this year.

We can compare this wallet to our shared bank wallets, which do not allow entry without two or more signing transactions. With this, companies will be able to keep crypto accounts without ignoring privacy issues.

https://conceal.network/#wallets


On the other hand, cold-staking models have been stable for more than two years without changing the rates.

They designed their systems to continue to distribute interest for another 30 years.

Conceal is powered by Proof of Work Mining.

Last year, the mining algorithm was changed due to some problems experienced, and it has reached its current problem-free structure.

The block reward is fixed at 6 ₡CCX per block until it reaches its total supply of 200 million.

It looks like it will take more than 100 years to reach the total supply because the emission rate is relatively low. The total amount of coins is currently 20.6 million, 11.8 million are in circulation, and 8.8 million are locked in the cold-staking model we mentioned.

New mining algorithm CN-GPU

Since I want to touch on more new developments of the project, I would like to talk about the BPSAA membership.

The BPSAA stands for Blockchain Privacy, Security & Adoption Alliance, which Conceal joined in January this year. BPSAA is an association established with the aim of educating the community on privacy and security in blockchain and improving cross-platform technology and collaboration between projects.

It has members of many privacy-oriented projects with more than 500 thousand followers on social media such as Komodo, Pirate, Ergo, Etho, Sentinel, Handshake, and Signum.

The association also aims to shorten the harmonization process that needs to be overcome in terms of privacy by meeting with the political representatives of developed countries through its informative publications and studies.

bpsaa.vision


Of course, the developments are not limited only to this.

But I do not want to prolong and bore you with it.

Maybe we’ll keep it going in the future. After all, as I said, they have an excellent team that is constantly developing.

Finally, let’s end our article by mentioning the Conceal Wiki, which we can call the Conceal encyclopedia.

They have created a very good resource where you can find all the information you are looking for on any subject.

You can access and review it at https://conceal.network/wiki/doku.php?id=about.

You can also use discord and telegram groups for exchanging information.

About Conceal

Conceal Network is a decentralized blockchain that permits users to anonymously send and receive funds, messages, and earn interest on deposits.

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