I have some news. Its not official yet as I just got some early test results and day is late so maybe I made a mistake. I want to verify when I am fresh.
I believe I got multisig support added to telepods. This allows combining of privacy with protection of multisig
So, it took me off the fast track to completion, but I think we all agree it is worth a few days delay to get multisig Teleport
James
P.S. The white rabbit will now have N versions of it beamed across random nodes (third onion layer) and then reconstructed at the destination. Poor guy. Especially since my M of N multisig looks like it will handle up to N of 254!
Is it pretty safe to assume that btcd will have one of the most private, secure and safe transactions in cryptos?
ps. I like your the white rabbit metaphor
yes and another key factor is that you will be able to teleport any other coin (with a little bit of extra coding), so if any other coin actually has some useful anon value, you can get combined power by teleporting that coin. Regardless of which coin wins the anon race, BTCD will be around to teleport the other coins.
I do not know of any other coin that will be more private due to this combining power. Also, if they have some good algo, I can always integrate it in. It might take me a few weeks, but I like to assimilate any and all good ideas. For instance I have the essence if ring signature algo from cryptonote isolated, kind of like a test tube with just that algo. So, i could add it to BTCD, but with Teleport I just see no reason
So basically the Teleport function will offer better privacy functionality than cryptonote? but without the blockchain bloat ? And any coin could be teleported?
At initial ramp up period, cryptonote at higher settings would be a bit better, but that just makes their blockchain bloat problem worse. With Teleport, the anon level automatically goes up as the transaction volumes go up and with the point to point (well actually a bit of onion routing) I see no reason why it cant just keep scaling up. It would be possible to match anon levels even at first at the cost of taking more time.
Yes, any other coin can be teleported, though it will require some custom coding for each new coin source base. Not much though, probably a week or so per new source base. Since BTCD and BTC are essentially the same API, it will just be a matter of adding the fees, which is actually quite a bit harder than it sounds to do it properly.
Also, there will be some bloating due to the usage of standard denominations, but with average tx probably having half a dozen telepods, it is a fixed factor. cryptonotes have this plus the ring signature overheads, plus the key images they need to keep around forever to prevent double spends.
BTCD addresses the IP address privacy issue with the privacyServer hub and spoke architecture, but since anybody can run a privacyServer, I believe it still qualifies as decentralized. Now no need to use Tor and get flagged or attacked by the people watching very closely whoever uses Tor and the like.
if that wasnt enough, BTCD will also have a BTCD -> visa/mastercard and BTCD -> anon card. The latter being an anon path back to fiat. No personal info needed to get a card, $10K USD limit per month.
Did I mention InstantDEX and realtime trading? tradebots and automated trading using InstantDEX? Privatebet to make peer to peer bets using telepods, eg. privately?
So, still a lot more work to do, but I estimate by year end even Privatebet will be in testing and that is the last one on the list to get finished.
James
P.S. I am having university math professor analyze the anon level of Teleport. I know enough math to know I dont know enough to do the formal calculations, so hopefully by the end of the month we will have this indepedent analysis.
