Lobstex (LOBS) welcome to the house for anonymity with the Zerocoin protocol
People continue to develop technology every day.
The subject of crypto-currency becomes hot when bitkoyn passes to a record high, exceeding $ 20 thousand.
Since then, many people have begun to read about crypto currency and how it works.
In principle, a crypto currency is a digital asset that acts as an exchange medium.
Using cryptography technology, transactions are securely secured, which leads to the control of newly created additional currency units
and subsequent verification of the transfer of assets.
Bitcoin comes to mind when we hear the word "crypto-currency", but the fact is that there are a number of crypto-conversions and yet them
HOW BLOCKCHINE WORKS TO OBTAIN THE RISK TO CRYPTO CENTERING
Some properties of crypto currency, which make it more reliable, include:
Irreversibility: (once the transaction is completed, it can not be returned),
Alias: (neither the transaction nor the accounts are associated with real user IDs)
Without permission (decentralized), without borders (without any geographical boundaries for any transactions), Secure (cryptographically only the public key is visible, private keys are always protected),
Fast (transaction occurs almost instantly in real time).
In short, Lobstex (LOBS) is a crypto currency with all the functions of the crypto currency that you know.
The team did not just create a coin for sale to the general public and received some profit.
They built the coin in such a way as to support the modern way of earning crypto currency, which is the principle of mastrondos.
Who are they?
Masternodes is a network of decentralized nodes to use some unique functionality that does not entail a normal node.
Basic functions include instant transactions with privacy status, in addition,
to bring the stability of the block chain.
The special functions that the nodes perform are performed in comparison with the usual ones
nodes:
✓ Increase in the private nature of transactions
✓ Transaction execution instantly
✓ Providing a basis for healthy governance and equality in the voting system
✓ Additionality to budgeting and treasury.
You need to get some coins to manage the projects, because there is a need to keep the key units of currency under lock and key, and it varies from one currency to another.
For the purposes of this article,
The main requirements for setting up Lobstex Masternode:
• The minimum number of coins: 8810000 LOBS **
• ** Separate VPS (virtual private server) Ubuntu 16.04 x 64
24 x 7 for posting purse **
• A dedicated IP address for the same
• Additional storage space for the block circuit
Zerocoin Protocol
This protocol aims to decentralize by nature using electronic money schemes that provide sufficiently proven anonymity of users and coin security on the basis of a simplified assumption of distributed consensus in online transactions and transactions that are associated only with the chain.
zLOBS (a new function) will work on the zerocoin protocol, applying zero-knowledge proofs.
This function will be activated in step 43201, when PoW is finished.
The process of minting zLOBS
Determine the number of coins you want to use
Send a private transaction using zLOBS
The balance of your usual coin will decrease due to lending to a new zLOBS that does not have a transaction history.
EXTENSION OF THE COIN
In a private and anonymous transaction, a new zLOBS will be used in the process.
Amount will be sent
wallet without attachment to history, in any denomination of choice from the pool.
The anonymity function of Lobstex (LOBS) offers a level of excellence
in the crypto world, when one mint and spend zLOBS (zeros)
Here we see two systems that are being discussed.
LOBS
This is the main coin of the Lobstack chain, which acts as an ordinary coin compared to
any other crypto currency encryption unit.
However, the zLOBS (zero) layer provides privacy and
anonymity of the transaction, and it works using the coinage method
new coins and expenses.
The zerocoin protocol is a mechanism in which old coins are burned to create new coins without history, and then convert new coins into old coins.
zLOBS does not interact or rely on any other purses or essences to mix coins, so it works on the basis for creating new coins in its own Lobstex numbering protocol, rather than relying on mixing old coins that may be vulnerable to complete confidentiality.
Budget system and management
This system allows you to manage at the community level.
Budgetary system Lobstex allows to allocate necessary financing for
reward developers, marketing and various tasks that must be performed to prevent the termination of work due to lack of funds.
How does the budget system work?
Owners of Masterdnard vote for a certain budget task.
"Yes" should be greater than "No", so that the task was accepted.
Where to find budget proposals
Go to Tools ==> the debugging console of the wallet, using the command "mnbudget show" and vote using "mnbudget vote" in the console.
The Masedones control decentralized management.
SUMMARY OF THE LOBSTEX PROJECT
Lobstex is a crypto currency that will work in the lobstex chain.
He uses an algorithm called a quark.
The coin is initially PoW and PoS.
The main goal of the lobstex project is to provide an opportunity for private anonymous transactions that will not leave a transaction record with a function called the zerocoin protocol.
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