So we know that we have been keeping all of you in the dark for a while and we know it can be frustrating, specially with not knowing what it is we are actually bringing to the cryptocurrency market.Well, before we dive in, our main goal is to be one of the best coins in the market. We know that this won’t happen overnight or in our Phase 1 release, but we will continue to push for greatness and that is our promise to our community.We have been working on a lot of great ideas for Phase 2 and Phase 3 of our releases. Some examples of the features coming in these are Masternodes in Phase 2. We like to think that our Masternodes are different from the average Masternode structure that other cryptos have. We promise to release some information about it at a later stage.
For now we want you to know what we are coming to market with.
We’ve said this before in our telegram channel and we will say it again. We will not release a product that hasn’t been tested. Because of our commitment to greatness we are planning an Alpha test within the ARMR team and soon after a Beta test with people from the community. Information on how to sign-up for it is coming soon.
Now back to today’s news!
We wanted to tell you about the ARMR specs.Implemented by default is Stealth mode. We believe it is essential to have complete anonymity on any transaction which means that we can not see the idea of having Stealth as a choice. We are using TOR+OBFS4 with automatic ring signatures to keep the transactions as difficult to track as possible. Yes, you will also be able to use this coin in countries where TOR access has been disabled.We have also implemented Stealth staking, once again, because we believe it is essential to be as hidden as possible. We have upgraded the algorithm which makes the ring size change randomly to make it impossible for eaves droppers to know where or what to look for.This provides complete transactional anonymity, making it impossible to determine the true source of funds for a transaction Our wallets have been redesigned from the bottom and we have added the following features to the wallet:
- Wallets with automated backups and recovery
- Default backup after every transaction
- You can set custom backup times to daily(at time X), weekly, etc
- Recover your wallet when switching devices
- Block wallet addresses (suspected malicious wallets)
- Request payment by sending a request to a wallet
- Encrypted messaging between transacting parties
- Syncs asynchronously for better performance and better resources (network, device hardware) utilization
The performance hasn’t been fully optimised right now, but at this moment we can handle between 6000 and 8500 transactions a minute. The average transaction is done in just under 35 seconds for now. We are doing our best to speed it up, however we do have a feature planned to allow for instant payments.Because you will be able to stake ARMR we will provide a staking reward up to 5% of the value staked, but this reward will depend on the numbers of transactions made in the ARMR network. Our goal is to NOT add more coins to the supply. All rewards will be paid using the transaction fees. This will be explained further in the whitepaper.The block time is 60 seconds and the maturity is 288 blocks.The total supply is 40m ARMR coins and the team holds around 14,5m ARMR for future development, salaries, server costs and a lot more. Meaning the community will hold the majority (25,5m) and over time we are hoping that more will shift towards the community. All coins will be delivered to market and wallets once the coin is released.In other words, we believe that with this first phase we are a contender to other anonymous coins on the market. But as we said before. We are will continue to push for greatness. We are not stopping there.
We will be adding:
- ARMR Blacksmiths, which is our take on Masternodes
- Chainmail transactions, which is another way to make the transactions completely untraceable
- ARMR Repairs, paying back the community
- ARMR API, to be used at marketplaces to use ARMR as a payment option
And a lot more.. Some of these are in phase 2 and some are in phase 3. But as our development teams are dedicated to provide the best coin there is. We will continue working non-stop.
We hope you like what you read.
ARMR Team
To a great future ahead!
For more comments or discussions join us on Telegram: https://t.me/ARMR_Network