In my last article, I wrote about how our data and privacy have been compromised through social medias. I believe that we should have the full ownership of our personal details and no one should have access to it without consent. Personal details can be our name, our ID number or even our chat messages with our friends or families. The reason behind all the data leaks in the recent years is because all the social medias platforms that we are using are built on centralized systems which lack security. Our data are stored in a centralized server which is vulnerable to hackers’ attack or perhaps, someone in the organization has the access to our data and use it for personal gains.
Since the advent of Bitcoin in 2009, we have seen many decentralized projects coming up like mushrooms after the rain and all of them are trying to achieve one mission, immutability and security. In a decentralized environment, nobody has control over your data but yourself. Well, unless you give your private key to someone else. And out of the many projects, some of them like Monero and Zcash aim to achieve privacy and anonymity. Privacy is a very important feature in the blockchain technology. On a privacy platform, all the transactions are untraceable and cannot be linked to anyone in the real world.
Stegos is another privacy platform that aims to achieve more than just anonymity in payment transactions. It comes with a bit of twist! They also aim to achieve privacy and anonymity in data transactions. The simplest form of data transaction is messages. Think about having an private chat with someone. Instead of using WeChat or Whatsapp, use Stegos. Here are some of the features of Stegos:
UTXO + Gamified Proof Of Stake (gPOS) consensus
The gPOS consensus is light. It does not require a huge machine and does not consume much power to validate transactions. Hence, it is cost effective. A mobile device is sufficient to run a node. There are over 2 billion smartphone users on the planet. What if each of them runs a node?
At the same time, a third of the block reward will be rewarded randomly to validators. So, in this instance, everybody stands a fair chance to earn this reward disregard of how big the stake is.
Snowball Protocol
Snowball Protocol is a combination of stealth address, an improved version of ValueShuffle Protocol, Pedersen commitment and Bulletproofs. The Snowball Protocol gathers all the single transactions into a pool of supertransaction before being validated and sent to the receivers, making the transactions unlinkable and untraceable.
Scalable
Stegos uses transactional sharding and all the data of spent coins are cryptographically pruned, making it a fast and compact blockchain.
Trusted Container Application (TCA) and SDK
TAC and SDK allow developers to build privacy apps on Stegos. With the virtual machine, apps can be written in HTML, CCL or Javascript. There a lot of apps that can be built with privacy feature. For example, a gambling app. I am sure none of you want to be identified after winning a huge jackpot. If those bad guys know who you are, they will come after you!
Stegos Mobile App
This is the portal to Stegos platform. Users can access their wallet, stake their coins and run a node, send payment and chat privately with friends and families. When you are chatting on a privacy app, none of your conversation is traceable by a third party. This way, you are always safe from surveillance. Stay private and stay safe.
The mobile app also comes with a Hongbao (Red Packet) feature, which was made famous by WeChat. However, it is better than WeChat’s because all the transactions are private. Check out this video to see how the app works.
To wrap this up, Stegos is the most advanced privacy platform in the world. The function is not limited to only payment, but also data. Being able to socialize privately can keep you save from the many prying eyes of the stalkers, the criminals and even the government.
At this stage, the community is testing the network which you can participate here. The reward pool for the bounty and hackathon is $200,000 worth of STG.
To find out more about Stegos, check out their social channels below:
Twitter: https://twitter.com/stegos4privacy
Telegram: https://t.me/stegos4privacy
Reddit: https://www.reddit.com/r/stegos4privacy/
Medium: https://medium.com/@stegos
Github: https://github.com/stegos/stegos
Website: https://stegos.com