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Author Topic: ANN- CryptBit- MasterNodes- Pos 3.0- ICO on C-CEX- Final hours!  (Read 2216 times)

vindyne8

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ANN- CryptBit- MasterNodes- Pos 3.0- ICO on C-CEX- Final hours!
« on: September 23, 2015, 11:44:45 PM »
CROWDSALE IS NOW AVAILABLE: https://c-cex.com/?p=cbit-btc

CRYPTBIT

SPECS:
Ticker: CBIT
Total Coins: 2,000,000
POS 2.0 (3.0 coming soon)
dPOS Rewards: 10 to 40 CBIT
POS Reward: 5 CBIT
Block Space: 64 Seconds
Maturity: 75 Blocks
Stake Min Age: 4 Hours
Libsecp256k1 by Sipa





« Last Edit: September 30, 2015, 05:26:11 PM by vindyne8 »

killerjoegreek

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Re: ANN- CryptBit- MasterNodes- Pos 3.0- ICO on C-CEX- Security Centric For All
« Reply #1 on: September 24, 2015, 03:59:31 PM »
I am able to do translations to greek language of your ann thread for a bounty. Please take a look at my work here and send me a private message if you would like a translation. http://bitcoingarden.tk/forum/index.php?topic=4249.msg94906#msg94906

vindyne8

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Re: ANN- CryptBit- MasterNodes- Pos 3.0- ICO on C-CEX- Security Centric For All
« Reply #2 on: September 25, 2015, 09:16:12 PM »

vindyne8

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Re: ANN- CryptBit- MasterNodes- Pos 3.0- ICO on C-CEX- Security Centric For All
« Reply #3 on: September 30, 2015, 05:25:40 PM »
Over 142BTC sold so far, entering the final hours of the ICO, time is running out! Secure yours here:



Some posts by the dev from the main BCT forum thread:


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The masternodes are an integral part of our multilayered security approach, providing a final layer of security for outbound transactions. Ordinarily, involving masternodes in this sort of role woul lead to an unacceptable decline in network speed. However, by integrating libsecp256k1 into our blockchain design we are completely offsetting that potential problem. In fact, we expect users will experience network speeds and tx times that are noticeably faster than any other coin currently out there.

With respect to your passwords and security levels: you will be able to choose from several different levels of password security. Within this system you may keep your old passwords and at the very simplest level, simply layer a single 2FA protection across all your current wallets. A range of progressively more secure options will also be available to security conscious users . Dropping below the minimum coin account simply removes the CryptBit protection. It does not affect your wallets themselves.


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There have been many questions concerning the various tech implementations, our block chain structure, and how CryptBit and Cryptbase will be evolving in tandem. We have put together a release schedule that should answer many of these questions. In additon, one of the block chain devs will be checking in periodically over the next days. English is not his first language so there may be some less than fluent phrases - but we belive it will be a good opportunity for some discussion of many of the more technical aspects of CryptBit.


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There is a popular algorithm that most security analyst use to save key mapping points from facial structures into a database. For Cryptbit users, this database will be encrypted as saved locally. Users can choose to save data points for an unlimited number of users and login locally, securely, and without any concern for hacking breaches or other malicious intent.


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Many asked if you can stake and be a masternode at the same time, and no the masternode wallet can't stake, or we can't have it to stake, as you need 13342 CBIT as collateral or we can call it Proof of Service.
And I would advice not to have any left over coins there in the wallet you run as masternode, as you need to send exactly 13342 CBIT to the collateral address. It would be better to start up a second wallet and transfer the remaining coins to it.


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POS 3.0 or "Proof of stake protocol 3", it advances on Blackcoins protocol 2  that is one of the most secure and used protocol for proof of stakes coins. POS 3.0 will be more secure and stable and one thing that stands out is no need for coinage as coins will be staked based on confirmations, it's still a work in progress and when the final specs are out we are ready to go, we will have a separate branch at github for protocol 3 and work from there.


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Development Updates / Video:

Masternodes have been deligently tested and are working flawlessly. Here is a video we made to show operators how to set it up in the wallet. We want all masternode operators to have a fair crack at the DPOS from day 1. Enjoy this tutorial video and make sure to enable Closed Captions to view the instructions.



Now it's full focus on in-wallet security and encryption tools such as 2FA. As a side note, CryptBase is coming along nicely as well so expect more updates in the days and weeks to come.


Quote
The signal-to-noise ratio here in the forums can get a bit out of balance. To restore that a bit we will be making a series of posts over the next days that will explore more in depth the main security solutions we are implementing in CryptBit.

We realize that some of the tech in CryptBit can seem somewhat esoteric to the average user. Our goal is to make these solutions user oriented to the average user, so handling your crypto in a much more hardened and secure fashion becomes the rule, and not the exception. To this end we will be taking some time to explain how these different security layers fit together and the reasons behind them.

Please note – several of our devs do not have English as first languages. Please cut them some slack when reading their posts if their method of explaining things reflects this.

Post 1: The 2FA layer

At the heart of the CryptBit Suite both locally and in the cloud is the 2FA layer. Most people use 2FA in exchange log-ons already. Our 2FA will act as a master layer atop all crypto wallets on your local device, as well as all wallets you choose to maintain in the cloud. Once you have authenticated via CryptBit 2FA you will have immediate access to all wallets – hence “single layer” 2FA.

2FA is simply the best security implementation currently in wide use that ensures the person accessing your wallets is actually you.  With 2FA in place, is no longer enough to access your wallets remotely, or steal them, or steal your device, or confiscate it. CryptBit will be implementing more advanced layers of security as options as well – but right out of the gate, 2FA is an obvious and user friendly solution that – until now – has not been available in this form.

When you activate CryptBit on your system you can either automatically or manually assemble your wallets under your 2FA. You will also have the option to add a master password. Once the 2FA layer is activated it will remain operational so long as you have the minimum balance in your Cryptbit wallet. Should your wallet balance fall below this level, the 2FA layer is deactivated and you once again have access to all you wallets - without the CryptBit security layer.

We are currently aiming for a late October release of the 2FA system. Our work behind the scenes on CryptBase.com is moving along more rapidly than expected, and it may well be that we enable trial functionality for testing purposes already on individual accounts for a select group of the early registrants.

Our motivation for all of this is to make security a much more consistent part of the daily operating habits of the average crypto user. As crypto users, we all have a shared vision of where things are going – evolutionary speaking  -  concerning personal assets, crypto, and the growing  obsolescence  of government-backed currency solutions. At the current time however, crypto security for the average user cannot be said to have kept pace with this evolution. Much less the evolution of the darker forces and their technology  - the various people who would like access to your personal crypto – both the criminals and the authorities

It was out of this recognition that CryptBit was conceived, and so it is fitting that a simple, easy to use  2FA layer is our first developmental priority.

In our next post we’ll be taking some time to look at CryptBase.com

 

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