Black Hole Cion(BHC)是一种通过使用零币协议(zerocoin protocol)来保障账务隐私的一种加密货币。它是第一种实现了零币协议的加密货币，通过使用零知识证明确保了交易双方的相关地址信息免遭泄露。
BHC out of time 10 minutes, the total money supplyof 42 million, the output half of the cycle for 4 years.
BHC to remove the founder of the reward, duringwhich 20% of each output is still owned by miners.
Black Hole Coin -referred to as BHC, Chinese name black hole.
Black Hole Coin—简称BHC,中文名黑洞币.
BHC was developed by the top European virtual coindevelopment team, with most of the members working for Oxford University andHeidelberg University graduate students and two Chinese students. BHCdistribution using all the mining + mining comprehensive mechanism, in ensuringthe development team early development costs on the basis of the lateprotection of miners and investors interests.
BHC total of 42 million yuan, of which 2 millionyuan owned by the development team, 10 million yuan for all chips, income forpublicity, landing trading platform to promote the development of BHC BHC fundaccount and follow-up application development, the remaining 30 million Formining output.
Recently, with the global virtual currencymonitoring efforts to increase, especially in the Far East's largest virtualcurrency trading market in China, to Bitcoin and Lai Tai currency as therepresentative of the first generation of coins and the main trading platformhas been incorporated into the Chinese government The Japanese government isalso preparing for the virtual currency legislation. In North America andWestern Europe, the first generation of virtual currency research anddevelopment team, the first and second generation of virtual currency has beencontrary to the concept of centralization, many loyal fans are unable to waitto find a completely avoid the government to monitor the virtual currency. Onthe basis of this background, anonymous virtual currency Dash (Zisha) Zcash(ZEC) and Zcoin (XZC) and other anonymous coins born, a lot of technical coinsare playing anonymous concept, and in the virtual currency investment circlecaused a great sensation, to the original Development team and absenteeism,investors bring excess returns.
With the anonymous coins technology in theascendant, miners and virtual coin enthusiasts are also rushing to thistechnology, but for many virtual coin investors, the current anonymous coinsreally safe, according to the development team's team members revealed thatsome Anonymous coins so far can not query the block chain, even without anencrypted wallet, individual anonymous coins appear black swan event. BHC teamrespect and pay tribute to the previous coveted team developers and theirpredecessors, we in a humble psychological development of anonymous coins, in respectof learning on the basis of more emphasis on improving the mechanism, so thatthe real concept of anonymous.
Bitcoin and subsequentreplacement coins try to enhance privacy anonymity through coin and ringsignature techniques, but there is still a lack of. First, the coin and thesignature node in the malicious or broken members, are breaking the anonymousdefense line breakthrough. Furthermore, anonymous technical architecture is thekey to understanding the degree of privacy of encrypted money. The first twoanonymous solutions are limited by the number of coins and the ring signaturesize. Each coin and ring signatures are limited by the number of transfers,which are then limited by the size of the virtual currency block chain. So theprevious attempt can only guarantee the privacy of hundreds of transfer.
With the BHC, the anonymity has been significantlyenhanced. Anonymous transfers are no longer limited, and their anonymousarchitecture has "minted coins" coinage. Anonymous transfer capacityof up to several million, enough to make the existing anonymous technology tobecome an ancient and backward representatives. BHC to solve the problemencountered before the virtual currency. BHC uses the coin agreement, throughthe zero-knowledge encryption to achieve a complete anonymous. Zero knowledgeproves that the goal of owning the BHC without knowing the identity of theowner. BHC through the wallet zerocoin protocol, re-generated BHC and thenconverted to track the BHC.
Any technology like the BHC may be used for good orbad aspects, but the development team firmly believes that good aspects will bemuch higher than bad aspects, through history, business freedom has proven toprevent war, promote prosperity, Cultural exchange. The BHC is intended tofacilitate the existence of legitimate users who are already aware of the riskof using encrypted currency with a fully transparent public ledger and the riskof disclosing all of its financial details using Bitcoin.
Because there is already a pre-existing mechanismfor such activities, the BHC does not affect the status of such activities, andit provides significant benefits for legitimate users.
Even if there is no BHC, there may be illegaltransactions through the existing financial system. Bitcoin is also faced witha review of the regulatory authorities involved in money laundering. BHC canhelp ensure business freedom. People should be able to trade freely as long asit does not violate the well-being of others or personal freedom. We alsobelieve that business freedom also promotes the peace and prosperity of nationsand cultures. By ensuring financial privacy, BHC can directly guaranteeinterchangeability, which is a basic attribute of free business.
We want to promote a completely anonymous and can not track the encryptedcurrency, it is Black Hole Coin - referred to as BHC, Chinese name black hole.It is an encrypted currency that uses zero-pass cryptography to protecttransaction privacy.
Projectdevelopment: May 7, 2017 landing in China, is the domestic promotion stage.Miners began to enter the mining, May 23 BHC began to start ICO. Since landingin China, in the domestic virtual coins have been a huge response. A justlaunched the technical coins, just less than half a month, digging arithmeticreached the peak 11G, in the known anonymous currency, no one can so quicklyreach such a high power. Which in itself also shows that this technology hasbeen recognized by everyone, the technology has also experienced a lot oftechnology coins circle of repeated scrutiny. BHC total of 42 million, of which12 million pre-excavation, mining 21 million, the remaining 9 million reserveready pos, that is, posing wallet BHC, in order to dig money in the purse, themore money in the purse The increase in age, the more the digging the coins.Pre-dug 12 million BHC, the team has 2 million for the node plan and has beenlocked. The other 10 million BHC for subscription, the proceeds will be usedfor future BHC public relations, on the platform costs and BHC to change themore advanced algorithm required funds, the team did not take a point.
Planning risk: Encrypted money is anearly and high-risk industry, investing and participating, need to be cautiousand cautious, be careful and careful! As the nature of the currency book, theremay be some attacks, timing attacks, such as force attack. However, these canbe prevented and avoided, as long as the "coin coin" and "coinagreement spending" between a little longer, you can prevent timingattacks. And the team after the follow-up workload verification mechanismalgorithm to the team in 2013 original GKS algorithm, this algorithm for theasymmetric encryption algorithm (also known as public key encryptionalgorithm), can resist GPU, FPGA, ASIC mine, to prevent 51% Attack, to ensurethat the encrypted digital currency circulation algorithm is more secure. Andthe wallet increases to the center of the main node masternode reward system,further expand the optimization of anonymous transmission function, improve thereal anonymous trading method.
Features:1, Black Hole Cion (BHC) is through the use of coin agreement (zerocoinprotocol) to protect the privacy of an encrypted currency. It is the first toachieve the coin agreement of the encrypted currency, through the use of zeroknowledge to ensure that the relevant information on both sides of thetransaction from leakage.
2. With the BHC, the anonymity has been significantly strengthened.Anonymous transfers are no longer limited, and their anonymous architecture has"minted coins" coinage. Anonymous transfer capacity of up to severalmillion, enough to make the existing anonymous technology to become an ancientand backward representatives. BHC to solve the problem encountered before thevirtual currency. BHC uses the coin agreement, through the zero-knowledgeencryption to achieve a complete anonymous. Zero knowledge proves that the goalof owning the BHC without knowing the identity of the owner. BHC through thewallet zerocoin protocol, the furnace generated BHC
3. Compared to Dash, Monero and Zcash, black hole(BHC) is indeed the preferred solution for current anonymous transactions. Weare also deeply aware that the anonymous implementation of black dongles hasmany advantages over other encrypted currencies, such as expansibility,audibility, anonymous setting and usability.
4. Compared to Zcoin, the Zcoin team and its investors will receive 20%of the proceeds from mining, for a total of 2.1 million, four years before thefirst half. BHC to remove the founder of the reward, during which 20% of eachoutput is still owned by miners.
Capital use: 10 million BHC for subscription, the proceeds will be usedfor future BHC public relations, on the platform costs and BHC to change themore advanced algorithm required funds, the team did not take a point.
资金用途：1000万BHC用于认购，所得费用，将全部用于将来BHC的公关，上平台费用及BHC更改更先进算法所需资金，团队一分不取。 The reason for the support: now the entireencrypted money area is really bustling, but only a few of them are substantialinnovation, rather than simply cloning other encrypted currencies. We believethat only the original innovation and continuous development of the encryptedcurrency can survive, with the conservative competition in the influence ofcurrency continued to decline and to support more innovative projectdevelopment, we have witnessed the occurrence of all this. With the support ofeveryone, with a substantial innovation in the currency can be betterdevelopment, encryption money industry can be better to flourish, diversifieddevelopment, not just a few encrypted currency dominate the majority of themarket.
Participate in the ICO players, is out of the trust of the team, the teamsuccessfully completed all the chips, will give a certain reward, specificincentives (development team to write). Suggestions: you can get some of thecoins from the coins to get feedback, then encounter problems, participate inthe ICO players, the team priority to solve.
In the past, the anonymous coinscreated a new era of virtual coins, but what was the original intention ofdeveloping anonymous coins, investment? Hype? We are in the virtual currency onthe road to meditate on the road, the most fundamental purpose is circulation.An anonymous coin is first of all its technological innovation, and the mostimportant reason is its liquidity. In the early stages of development, our teamhas individual team members to use its scarcity to speculation, but we finallygive up the idea, individual members and investors also withdrew from the team,so that the progress of lagging behind, but we did not forget the beginning,Down. Would rather give up the immediate interests, but also to be perfect.Special thanks to the two Chinese and Australian students during the strongsupport of funds, because they require confidentiality, do not do a detaileddescription here.
BHC current workload verificationmechanism using the Lehman co-scrypt algorithm, the follow-up workloadverification mechanism algorithm to the team in 2013 original GKS algorithm,this algorithm for the asymmetric encryption algorithm (also known as publickey encryption algorithm), can resist the GPU, FPGA, ASIC mine, to prevent 51%attack, to ensure that encrypted digital currency circulation algorithm moresecure.
Zcoin is use lyra2Z algorithm and many other zcoinfork like Kurrent and hexxcoin are use X11 algorithm as proof of work.Butanother many GPU and ASIC miners want to mine altcoin with scryptalgorithm.Like Litecoin,scrypt is used by many altcoins and proven to be verystable and easy for miner.
Zcash can hide the transfer amount, butthe BHC does not have this feature. So relative to the BHC, Zcash is notvulnerable to timing attacks (side channel attacks), but also Zcash there maybe undetectable infinite inflation issue issue.
There are two major steps in the coinagreement: the first step: "coin", "Public coin" (opencoins, no privacy attributes) into a data structure called the accumulator. TheAccumulator Collector answers questions about whether a candidate is a member,without revealing membership. The second part is the "zero currencyagreement spending" stage, the user can achieve zero knowledge to provethat someone in the accumulator with the currency without having to tell whichcurrency. With the zero proof of the "coin agreement spending" proof,you can produce a completely no historical transaction record of the new BHC.
Because each BHC in the adoption of"zero currency agreement to spend" to achieve anonymous before theneed to implement the "coin coin", by analyzing the "coincoin" and "coin agreement spending" between the time to attack.It is possible for the user to carry out the "zero currencyagreement" transfer immediately after the "coin coin" transfer,so assuming that there is such a behavior, the probability is assumed to be a"coin coin" with a specific "zero Currency agreement spending"associated. However, as long as the "coin coin" and "coinagreement spending" between a little longer, you can prevent timingattacks.
Because ZCash hides the number oftransfers, it can be more effective against timing attacks than the BHC. Butalso bring a greater risk:In essence, there is no "scarcity" forZcash, and few have been able to prove it on the basis of the first principleof mathematics / cryptography. Zk-Snark uses extremely complex cryptography.Only a handful of encryption experts can understand the ZK-Snarks principle. Theprinciple of encryption behind the coin protocol has a long time, and the coinprotocol paper is also a frequent visitor of recent years. And most of theencryption academic experts can understand the principle of coin agreement.
Zcahs' bug is that someone can printunlimited money, and no one can know. Using this bug, you can infinite moneysupply and manipulate the market. There are many examples of the collapsecaused by changing the money supply. The most typical case is the 2010 value ofthe value of overflow (value overflow) bug, the bug to make the total amount ofBitcoat 90 billion.
August 15, 2010, Bitcoin 74638 block, a184,467,440,737.09551616 bit currency transfer design three addresses. 2addresses received 92.2 billion bits of currency, and find the block of peopleare more than the previous does not exist 0.01 bit currency. According totechnical staff analysis, hackers are through the use of large integer overflowvulnerability, bypassing the system balance check, the successfulimplementation of the attack "
However, this situation is more seriousthan the DAO, Zcash code than the DAO complex degree out of several indexlevel, the failure of the index is also a high level of serious. Zcash'scurrent situation is: it is impossible to know whether the attack issuccessful. Unless the saboteurs themselves warn, we can know that Zcash has beenattacked and the boat has gone. The higher the value of Zcash, the higher therisk. There is no retracement at all.
In addition to the original bug, thereis another problem. Because ZK-Snarks high-cold technology, Zerocash for thebottom of the basic principles of cryptography few peer review possible. Butthe BHC did not worry about this. There are few academic experts who understandthe theory of Zcash cryptography. If the temptation of millions of dollars,that is, the most noble academic experts may also cross the moral boundaries.In contrast, BHC even if there are bugs, but also in the sun, everyone can knowthe total did not change.
除了非本意的bug外，还有另外一个问题。因为ZK-Snarks的高冷技术，对于Zerocash的底层加密学原理几无同行评审的可能。但BHC却没有这方面顾虑。能懂Zcash加密学理论的学术专家极少。如果在数百万美元诱惑下，即是最高尚的学术专家也可能跨越道德界限。相比之下，BHC即使有bug，也是在阳光之下，每个人都能知道总量没有发生变化。 On the other hand, the BHC mechanism is weakened bythe risk factor: everyone can see the supply of BHC. But by contrast, if Zcashis broken, no one can detect the circulation of super inflation.
Zcash relies on the assumption that allencryption algorithm parameter generators are not conspiracy to do evil. Aslong as there is a fair not evil, then safe and sound. Otherwise they can beany double flower.