Open-Source Cryptocurrency Protocol Gets An Update

By March 4, 2019Bitcoin Business
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CrypticCoin Foundation announces updates and enhancements ifor CrypticCoin (CRYP), a community-focused (global) decentralized open-source cryptocurrency that combines what the foundation claims are best privacy and anonymity practices with lightning-fast transactions. It has finalized integration of InfinityNodes – the “CrypticCoin Ultra-Secure Enhanced Masternodes” – into the CrypticCoin network. While Bitcoin’s (BTC) incredibly slow transaction times and high fees took many of the headlines recently, CrypticCoin aims to improve upon BTC, creating a global remittance system that is private, lightning-fast and even more secure.

Some of the primary enhancements in CRYP’s new upcoming network hard fork planned for March 15th, 2019 include: Censorship and 51% attack resistance, InstantCRYP transactions with only 5-10 seconds needed to confirm, all transactions are secured against double spending in one commitment (one block confirmation), the ZCash (ZEC) Sapling integration, and CrypticCoin’s very own Delegated Proof Of Stake (dPoS) Masternodes which are called the CrypticCoin InfinityNodes.

The CrypticCoin InfinityNodes will function as a two-tier network, providing the ecosystem enhanced security and performance. CrypticCoin is more resistant to 51% attacks because dPoS InfinityNodes, working in tandem with traditional blockchain mining (PoW), will enhance the security of the CrypticCoin ecosystem and blockchain while providing for incredibly fast transactions.

The CrypticCoin InfinityNodes owners, and optional operators, are rewarded by the network for these services. Owners must stake a minimum of 1,000,000 CrypticCoin (CRYP), which resides in their own wallet. This condition might be different if one uses a masternode hosting and sharing service. The collateral is required to prevent sybil attacks.

Technical users can also host their own CrypticCoin InfinityNodes on hardware that meets certain minimum requirements: static IP address, 2x CPU, 4BG RAM, 40GB SSD disk, 1TB bandwidth. CrypticCoin InfinityNodes can also look to be hosted on virtual private servers (VPS) by providers such as Digital Ocean, Cantabo, Vultr; or by using a masternode hosting service or a masternode sharing service as an example. A docker image will be provided for CrypticCoin InfinityNode installation; Linux is preferred, however, docker images can be run on other operating systems.

Having a network of independent CrypticCoin InfinityNodes will provide robust, decentralized security for the network and enable lightning-fast payments (InstantCRYP). CrypticCoin will look to appeal to a larger global community because the block reward is split 50:50 between CrypticCoin Miners and CrypticCoin InfinityNodes.

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