Bitsend Privacy Centric Transaction Network

    • blockchain /
    • altcoins /
    • development /
    • payment
  • 07. Januar 2017
What is BitSend? What is the different?
BitSend is a long term project. It is private digital currency for every generation. The POW and POS period goes 100 Years. The big target is a fair distribution. BitSend doesn't have a blockhalving or ponz scheme. Also in 10 year or 20 year can you can mine BSD like today. You can mine BSD without mining equipment. You need only 5000 BSD and a server with static IP address.

DarkSend is the name of the decentralized mixing implementation that obfuscates and provides a greater degree of privacy/anonymity to the transactions of the BitSend network.
Obfuscation is achieved by using network nodes in order to break up and reroute the flow of money in a way that is hard to track down. Further obfuscation takes place by using similarly sized pools of money which makes it difficult to pin-down identical amounts to a certain transaction especially when multiple transactions are occurring simultaneously, all with the same amount of money. Multiple rounds of mixing are employed so that tracking payments becomes exceedingly difficult as the number of mixing rounds increases.

This process requires more time than normal transparent transactions as time is needed to accommodate the pooling of multiple transactions. To solve this issue, the ability to pre-mix coins has been implemented so that one can use "anonymized" coins right away.

InstantX is a service that allows for near-instant transactions. Through this system, inputs can be locked to only specific transactions and verified by consensus of the Masternode network. Conflicting transactions and blocks are rejected. If a consensus cannot be reached, validation of the transaction occurs through standard block confirmation. InstantX purportedly solves the double-spending problem without the longer confirmation times of other cryptocurriencies such as Bitcoin.