SuperCoin Anonymity Phase 2 Progress Includes Mini-Escrow System

In some of our previous SuperCoin articles, we mentioned how the developers are planning to a multi-phase rollout for anonymity features and general updates. We have received some more information about phase 2, so let’s take a closer look!

For those of you are unaware , the anonymity features for phase 2 of the SuperCoin wallet exist because of a collaboration between SuperCoin and MammothCoin developers. Both digital currencies use the SuperSend feature.

The main focus for SuperCoin’s anonymity phase 2 is to provide a trustless system and a truly decentralized peer-to-peer CoinJoin system. We have copied the characteristics of a trustless system below for our readers :

–   Each party will do the best they can by gaining (e.g. coins).

–   Whenever possible, they will cheat to gain advantages.

–   They will not sacrifice their own benefits to do damages (e.g. cheat).

–   They will do damages even they don’t gain anything (make others lose, but they themselves will not lose, they may not gain either).

In SuperCoin’s phase 2, a sender will randomly pick any qualified peers as mixer and guarantor and thus sends the coins anonymously. As there is no central authority involved in these transfers, a decentralized peer-to-peer CoinJoin system is created.

For those of you wondering how you, or anyone else, become(s) a qualified node , you simple need to have the required amount of coins for the transaction in your wallet. All users can opt-out of being picked for this service by editing the config file.

As the whole process is becoming somewhat random, the SuperCoin developers have implemented a mini-escrow system. This was done in order to ensure all parties behave correctly, and no funds can get lost.

SuperCoin’s anonymity phase 2 will make use of multi-sig addresses.Porting the code from NovaCoin (codebase 600xx), and addressing all bugs that need to be fixed, was a real challenge. But from what we can gather, the SuperCoin developers got it to work!

As of this writing, we have not received an official ETA about the release of phase 2 yet. We are very excited to see the amount of work that has been done so far though, and we will keep an eye out for any further updates or announcements by the SuperCoin developers.

Official announcement : https://bitcointalk.org/index.php?topic=618552.msg7823606#msg7823606

SuperCoin donations : SYfuPDeCZTARWig2RCJoDJM7MaukBPj9rp