What is Proof of Work

Proof of work is a core component in the verification and generation process (mining) of Bitcoin and other alternative cryptocurrencies.

It functions as a process to show that work or effort has been expended to achieve a desired set of data. The amount of work or effort used to create the proof of work is defined by the difficulty, which is more or less an arbitrary condition determined automatically and mathematically.

For the case of Bitcoins and similar altcoins the desired data is the final block that is generated (containing most recent transactions as well as all previous transactions) and meets a value that matches with an arbitrary condition. The final block is a demonstration of energy and effort to validate and verify a set of transactions and all transactions that proceed it.

Both Bitcoin and the second popular cryptocurrency, Litecoin, uses the Hash Cash function as its proof of work. Producing this proof of work involves finding valid solutions to complex mathematical problems through a series of random trial and error (brute-force) attempts using computational power.

While proof of work seems like an unnecessarily arduous task, it creates an environment where users go into an consensus agreement of rules to enter a contest to solve for the next block to receive the hard-earned reward. In addition to this, the connected nature of the block chain and the difficult nature of producing a proof of work makes the integrity of the block chain very difficult to compromise. Any attempts at foul-play would require all the work already completed for previous transaction to be done again starting from the very first block.

source: http://www.cryptothinktank.com/education/proof-work/

What is Proof of Work

DARKCOIN BLOCKCHAIN FORKS, RESULTING IN PRICE CRASH

DarkCoin is one of the most popular cryptocurrencies, and has experienced a massive rally during the past month.

The price per DarkCoin was higher than Litecoin at the peak of the rally, and DarkCoin had the 3rd wealthiest cryptocurrency market cap. http://www.usacryptocoins.com/thecryptocurrencytimes/uncategorized/price-of-darkcoin-rallies-now-has-the-3rd-highest-cryptocurrency-market-cap/

Over the past 24 hours DarkCoin has experienced some severe problems. DarkCoin masternodes were implemented yesterday. These masternodes are used to ‘mix’ DarkCoins, essentially making transactions completely anonymous. If you own a masternode you get paid 10% of the block reward every time your masternode is selected, which can end up being quite profitable depending on the total number of masternodes. The catch is it costs 1000 DarkCoin to setup your own masternode, which is around $10,000 currently. Part of the reason for the rally over the past few weeks was excitement for these masternodes.

DarkCoin had to change its code in order to use masternodes, and they did a controlled fork of the blockchain to achieve this. Everything appeared to be running smoothly for a few hours after the masternodes began to work, but then the DarkCoin blockchain split into many forks. Apparently some “bad” masternodes were the cause of the forks.

Blockchain forks are extremely bad for a cryptocurrency. If you sent DarkCoins during the fork, there is a chance you would lose them forever if you sent them out on the wrong fork. Ultimately only 1 blockchain will be recognized, and if your coins end up on another blockchain they will disappear. There are widespread reports of DarkCoin disappearing from mining pools over the past 24 hours, since the pools were mining on the wrong fork. Also exchanges probably took a major hit, since DarkCoin deposited from the wrong fork confirmed initially and then disappeared later.

Masternodes are being temporarily removed from the DarkCoin network in order to bring stability back to the blockchain ( https://darkcointalk.org/threads/fork-to-stop-masternode-payments.883/ ).The problem hasn’t been fixed yet, there are still forks being reported as of this writing. Cryptsy and Mintpal, which are major cryptocurrency exchanges, have halted DarkCoin deposits/withdrawals temporarily to prevent further losses. DarkCoin deposits/withdrawals will resume once the fork is resolved.

The price of DarkCoin crashed when the news of the fork came out, going from 0.025 Bitcoin per DarkCoin ($14.50) to 0.016 Bitcoin per DarkCoin ($9.35) currently. This is a drastic 36% reduction in price. At this point markets are frozen for deposits/withdrawals, so it is hard to ascertain where the market price will go from here. It is possible DarkCoin could drop even more when exchanges reopen. This could also just be a bump in the road, and DarkCoin’s price could recover. DarkCoin’s price rise over the past few weeks has been very bubble like though, and forks tend to pop bubbles.

source: http://www.usacryptocoins.com/thecryptocurrencytimes/uncategorized/darkcoin-blockchain-forks-resulting-in-price-crash-and-temporary-delisting-from-exchanges/

DARKCOIN BLOCKCHAIN FORKS, RESULTING IN PRICE CRASH

True Anonymity by Darkcoin

If you’re looking to conduct truly anonymous transactions, bitcoin isn’t the perfect digital currency to use.

While personal identities are not shared via the bitcoin network, it is still possible to identify wallet addresses and follow transactions through the block chain.For a real anonymous coin, you’ll need to turn to darkcoin, a digital currency launched in January that is storming the cryptocurrency scene with its pioneering energy-efficient mining algorithm and multifaceted, identity-protecting features.

Enthusiasm for the digital currency has been fueled by darkcoin’s price gains in recent weeks, as the coin has seemingly successfully appealed to many buyers who once turned to bitcoin for its supposed anonymity.At press time, the price of one DRK is roughly $13 per coin, exceeding the price of litecoin and nearly all other major altcoins on CoinMarketCap.com.

What’s fueling this dramatic growth?

CoinDesk spoke with darkcoin developer Evan Duffield, who explained that the digital currency aims to bring true anonymity to online transactions, saying:

“The whole goal of [darkcoin] was to be a privacy-centered cryptocurrency.”

Darkcoin’s facilitation of anonymous transactions seemingly confirms fears among regulators and law enforcement agencies that digital currencies propagate transactions that are untraceable.In practice, the coin’s technological aspects act to conceal identities through several different approaches.

DarkSend facilitates network anonymity

One of the major components of darkcoin is DarkSend, a peer-to-peer framework that bundles small transactions into larger anonymous ones.DarkSend is based on the CoinJoin concept created by bitcoin developer Gregory Maxwell, which acts as a transaction bundler. In the case of darkcoin, this merger makes it far more difficult for someone to ascertain the source and destination of payments within the network.DarkSend also incorporates an infrastructure of masternodes that handle the transactions in a decentralized manner. Functioning in what Duffield calls a “proof-of-service” system, masternodes act as the transaction bundlers and receive 10% of the block reward for doing so.There is a masternode election system that randomly assigns which masternode will process a bundle of darkcoin transactions. According to Duffield, masternodes effectively receive dividends that even out across the network over time.Notably, it costs 1,000 DRK to set up a masternode. This, Duffield explains, ensures that only those who get involved in running the network have a vested interest in participating, as well as prevent bad actors from spying on the transactions taking place in the darkcoin network.

He said:

“There has to be costs associated, so you don’t capture all of the traffic and reassemble the block chain.”

A more detailed explanation of the masternode framework and election system can be found in the original darkcoin whitepaper written by Duffield and developer Kyle Hagan.Duffield told CoinDesk that, in part, darkcoin also seeks to solve some of the problems associated with proof-of-work mining, namely energy costs.

The X11 mining algorithm, since deployed in several new digital currencies, delivers notable benefits including a closer parity between GPU- and CPU-based mining rigs.Duffield said that, from the beginning, he sought a new kind of mining algorithm. Interestingly, X11 was developed to be slightly less efficient than other alternatives. While this may seem counterintuitive to the mining process, with miners seeking greater efficiency to deliver more hashing power, Duffield explained that several key advantages came as a result of this development path.First, CPU-based miners and GPU-based miners perform at similar rates. This widens the appeal of the algorithm, enabling more people to get involved in the mining process without having to invest in more hardware.

Additionally, X11 allows for more energy-efficient mining. Duffield said that most mining rigs run about 30% cooler than those running on alternative proof-of-work algorithms. This factor, Duffield suggested, has lent itself to the greatly expanded hashing power in the darkcoin network and provided a boon to hobby miners who can’t afford large-scale cooling infrastructure.Ultimately, Duffield pointed out, the development team sought do something new within the digital currency world, saying:

“I wanted to implement [darkcoin] so we could have a completely new algorithm and follow the same path that bitcoin follows.”

By doing so, he said, the community at-large would innovate from the ground up.Bitcoin, like most digital currencies, features scheduled reward halvings that reduce the amount of coins produced in each block. This poses a potential issue for the mining community, according to the darkcoin white paper:

“One problem with this approach is the abrupt reward halving that happens every four years. This could eventually cause large distortions in the mining network when the profitability of mining changes drastically overnight.”

To solve this problem, darkcoin utilizes a reward curve based on the mining difficult at the given time. With a range of five to 25, the new reward structure puts in place an inflationary dynamic that delivers approximately 1m new DRK to the network each year.Additionally, darkcoin addresses a problem associated with the multipool ecosystem, by which large mining pools disrupt a coin network by dramatically expanding the overall hashrate. DarkGravityWave adjusts the difficulty using multipole exponential moving averages a simple moving average.This, according to the white paper, limits the multipool impact on the network and eliminates certain exploits possible through Kimoto’s Gravity Well, a per-block difficult adjustment scheme that is widely used in the altcoin community.

If the price of darkcoin is any indication, the digital currency is set for a potentially bright future, at least in terms of user popularity.Duffield told CoinDesk that the development team is working on several new initiatives that would greatly expand the possibility of a truly anonymous transaction network.

Notably, Duffield is seeking to implement a system for building services on the darkcoin network. For example, someone could host a cloud wallet service that takes advantage of the speed and anonymity provided by the network.“Its part of this proof-of-service concept. [Masternodes] can actually host other services for the network, and they will be super-fast because of that, because they’re dedicated just for darkcoin.” Duffield expects the number of masternodes to expand overtime, of which he said roughly 100 exist. Because the creation of a masternode involves takes 1,000 DRK out of the coin supply, more nodes could actually support the natural value of the coin. He added that, in the end, as many as 400 nodes could be created to facilitate transactions in the network.

Ultimately, darkcoin is taking the idea of anonymous financial transactions pioneered by bitcoin and pushing it to the next level. However, it’s possible regulators could have a final say as to its ultimate success.

source: http://www.coindesk.com/true-anonymity-darkcoin-king-altcoins/

True Anonymity by Darkcoin

The Bright side of Darkcoin

In short, Darkcoin provides anonymous transactions with a decentralized implementation of DarkSend.

What’s Darksend? DarkSend uses a pool of transactions to anonymize your intent to send money to a specific address.

How Darksend transactions work (source)

How can I use it?

Simple: you can take your bitcoins, exchange them into darkcoins, and enjoy a truly anonymous payment platform.It should be noted, however, that Darkcoin is not yet complete, and it’s also considered beta software. Use it at your own risk.

Who’s behind it?

I had the opportunity to talk with Evan Duffield, the main developer behind it. Here’s my interview.

1) Evan, tell me about you, and your team. Where do you live, what’s your background?

I live in Phoenix, Arizona and I’ve been programming for 17 years now. I started when I was 15 years old, making bots to crawl the internet. I got interested in machine learning and artificial intelligence early on when I saw patterns in the stock market and wondered if I could describe them with code. I found that I was pretty good at it and started selling the signals as newsletter service called StockHawk.net.Soon after that the 2008 crisis started and I had money in the markets. I became really interested in economics and ended up getting my series 65 license and starting a financial firm to sell my trading signals and manage money.In mid 2010 I heard about Bitcoin and I was instantly obsessed with it. It was the mixture of economics and technology that caught my attention, I knew that it was going to be a big deal.Today our team is not huge, but includes some very smart people.

An example?

S.P. has a background in high performance computing, software development and bioinformatics, and software development projects in corporate and research environments.S.P. was initially attracted to crypto-currencies by the challenges of secure distributed computing, and the revolutionary economic and socio-political implications.He is particularly interested in the possibility of emergence of complex behaviours in distributed currencies, similar to how complex behaviour emerges in biological systems.

(note: S.P. is no longer involved in the Darkcoin project)

2) What convinced you to start Darkcoin?

I believe the central problem with Bitcoin is that the public ledger, although a remarkable accomplishment, also allows a gross invasion of personal privacy by permanently listing all transactions the users have ever done publicly. I would imagine many groups are working to tie the addresses used to real identities and then following the money around to see what is happening with it.There was also a lot of talk recently about tainting coins to check and see if they’re “clean” (note: he means colored coins). I believe that all coins should be considered equal and you shouldn’t mess with the fungibility of the coins themselves.

3) In specific, are you trying to solve a specific problem (true anonymity)? If so, why this approach is the right one?

Eventually it will be important and useful to have a real anonymous currency for web based business. Bitcoin is a huge leap in the right direction, but it’s still not perfect. Recently some projects have popped up here and there, but none of them meet all of the criteria of a true solution to this problem.

Most of the proposed solutions to this problem are centralized and that requires a measure of trust that the central server is playing by the rules and also not compromised and recording the traffic it is dealing with.Another solution proposed by some graduate students is called Zerocoin, it seemed like an interesting idea but it uses untested cutting-edge cryptography which could prove to be insecure with a centralized server that functions as an accumulator.

There is a definite need for an implementation that solves the anonymity problem with a decentralized approach and proven technology.

In order to solve this problem, Darkcoin uses an extension built on top of the standard bitcoin protocol, to create merged anonymous transactions. When a user wants to send money to someone he simply will leave the “Use DarkSend” checkbox checked, then the client will broadcast that it would like to add an input to the pool. These messages are broadcasted throughout the network and once there are enough inputs in that pool, the nodes know it’s time to send “outputs” (where you want to send your money to). After those are gathered together, all users sign the transaction, then it is merged and broadcasted.

4) Electrum, Dark Wallet: what’s your view on these, and how do they relate to Darkcoin?

Electrum is a great wallet, but it’s not anonymous and your money can still be tracked.Dark Wallet is great project, but it’s not a completely decentralized approach.

5) How do you plan to make Darkcoin successful? What are your next steps?)

Currently I’m just working on getting the implementation of DarkSend complete and user friendly, then we’ll move on to marketing the coin.

6) How can people contribute? Volunteers? Developers? Investors?

Currently I’m the main software engineer and we have a group of volunteers such as a systems administrator, a project manager, web developer and writers.

If you want to contribute, visit our Darkcoin website and tell us how you’d like to help.

7) Open Transactions: any overlap between Darkcoin and them?

That’s so funny, I listen to Let’s Talk Bitcoin and this was rolled into one of them. That’s right before I got the idea about how to organize Darkcoin too. I’ll have to look into it further, I don’t believe it does what I’m doing.

8) Do you have plans to do business around it, or you are treating it like an open source project?

I’m choosing to do this as an open source project. I figure I will put a couple years of full time work into the project and my Darkcoins will be worth quite a bit by the end of it. There’s really very few coins with an active development.

9) Is anonymity going to be an issue?

I’m sure some people will not like the idea.While we have read that there are some that are accepting Darkcoin for services on the darknet/tor, our intentions were to give the common users privacy in their transactions.We have not, and will not be, involved in developing any of the sites or the darknet and do not support it in any way.What DarkSend offers is just a more private blockchain, which is useful for all legitimate business also. We can’t really control what is done with the technology though, it’s money and money can be used for good and bad things.

10) What’s the risk for the user?

I don’t think there’s a risk for users. They would just increase their privacy from the features of the currency.Non legit uses? We’re going to include a “I will not use this technology for illegal purposes” agreement when you first boot up the client or when you download the binaries off of the website.

Beyond that though, there’s not much we can do besides being outspokenly against using the technology in nefarious ways.

You can also start trading with Darkcoin on the following exchanges:

Cryptsy: http://cryptsy.com/

Coins-e:http://coins-e.com/

Bter: http://bter.com/

source: https://medium.com/on-banking/a923facddc3c

The Bright side of Darkcoin

Darkcoin - Bitcoin's Shadowy Cousin

Cryptocurrency Darkcoin – known as the shadowy cousin of Bitcoin – is booming.

In just one month, the value of the little-known alternative online currency has soared from 75 cents (45p) to $7 (£4.14).Its main selling point is its increased anonymity in comparison to Bitcoin – meaning it is very difficult to trace a payment to a person.Cryptocurrencies like Bitcoin have soared in popularity, and have become notorious as a way to buy drugs, weapons and other illicit items online.Darkcoin is one of the fastest-growing cryptocurrencies, and the total value of its combined coins is around $30m (£17.8m).

The extra layer of anonymity comes from the way Darkcoin jumbles up the transactions individual users make with those of two other users.

The feature, called Darksend, means discovering where a user’s cash has ended up is more difficult.Bitcoin consultant Kristov Atlas told Wired he believed the price rise was based on the privacy features, and was not just a bubble.He said: “It’s not purely a speculative bubble. There’s some solid indications the market price is currently based on the fundamental value of the coin.”Bitcoin trader Allen Price added: “I had sort of smugly stood to the side waiting for the big, inevitable crash with an ‘I told you so’ ready.

“But no crash ever really came, and it’s been kind of an ongoing success for investors.”

Like Bitcoin, Darkcoin can be “mined” by anyone who repeatedly carries out a specific computer function using powerful hardware.The value of the currency is based on trades between creators and owners of the Darkcoin.

source: http://news.sky.com/story/1266609/meet-darkcoin-bitcoins-shadowy-cousin

Darkcoin - Bitcoin's Shadowy Cousin

Bitcoin's nefarious cousin Darkcoin

In only a month, the little-known bitcoin alternative known as Darkcoin has rocketed nearly tenfold in value — from around 75 cents a coin (44p) to almost seven dollars (£4).

Its selling point: Darkcoin offers far greater anonymity than bitcoin, mixing up users’ transactions so that it’s incredibly difficult to trace a payment to a person. And though few have yet to accept that more-anonymous coin for actual goods and services, the promise of Darkcoin’s privacy features seems to have sparked a miniature boom. It’s one of the fastest growing among the wave of cryptocurrencies that’s followed bitcoin’s success, with the total value of its combined coins topping out at nearly $30 million (£18 million).

Darkcoin, supporters argue, serves a real privacy need. Despite its reputation for being more anonymous than traditional money, the bitcoin network actually allows anyone to see every transaction on a public accounting ledger known as the blockchain. Users often have to take extra steps, like mixing their coins in a “laundry” service, to prevent those addresses from being tied to their identity by any government or corporation that wants to snoop.

Darkcoin adds an extra layer of privacy by automatically combining any transaction its users make with those of two other users — a feature it calls Darksend — so that anyone analysing the blockchain has a harder time figuring out where a particular user’s money ended up. “A large community believes that the way bitcoin’s blockchain is designed is a problem,” says Evan Duffield, the 32-year old Arizona-based software developer who launched Darkcoin in January. “Darkcoin has this anonymity aspect to it, which is attractive to a lot of people.”

Darkcoin’s uncanny growth, of course, may also be fuelled by speculators who see an opportunity to jump on a hot commodity. And given how wildly it’s appreciated in its short life, there’s no guarantee it won’t crash just as fast.

But Darkcoin’s price increases may also be linked to real changes in its features, says Kristov Atlas, a bitcoin consultant and Darkcoin fan. He argues that its value comes in part from its unique properties as a payment system, not just as an investment vehicle. The currency’s first big price jump occurred in late April, for instance, when its Darksend privacy trick was initially switched on for real transactions. “It’s not purely a speculative bubble,” Atlas says. “There’s some solid indications the market price is currently based on the fundamental value of the coin.”

Darkcoin’s price may in fact be “manipulated” by investors, says Allen Price, a trader in the bitcoin alternatives known as “altcoins.” But he says it’s already outlasted his expectation that its price growth was caused by a pump-and-dump scam. “I had sort of smugly stood to the side waiting for the big, inevitable crash with an ‘I told you so’ ready,” says Price. “But no crash ever really came, and it’s been kind of an ongoing success for investors.”

Much of the currency’s more recent price increase, says Duffield, may stem from its system of financially rewarding users whose machines serve as the coordinators of its Darksend transactions. Anyone can make their computer into one of those coordinators, which Duffield calls “master nodes,” by proving that they’ve paid a thousand darkcoins. In exchange, they reap ten percent of all new coins added to the Darkcoin network, which are distributed among the master nodes as an incentive for their work. Duffield says Darkcoiners seeking those rewards created 170 master nodes in the last month, tying up 170,000 darkcoins, a number that significantly decreased the currency’s supply and has likely helped raise its price.

Darkcoin’s creator also offers another, even stranger explanation for the currency’s value increase. Like bitcoin, Darkcoin can be “mined” by anyone who repeatedly computes a certain hash function. Darkcoin’s unique hashing algorithm means it’s almost as easy to mine it with a normal CPU as it is with the hotter-running GPU chips that are better suited to mining bitcoins. As the weather gets warmer, more miners may be turning to Darkcoin to exploit cheaper chips that don’t require as much cooling, Duffield says. “You get almost as much bang for your buck with a CPU as a GPU,” he says. “That’s drawing people over because the summer’s coming.”

Of course, the simplest theory explaining Darkcoin’s growth is, well, darker: It may be becoming a convenient tool for the black market. Bitcoin, after all, has become the currency of choice for more than a dozen websites that model themselves on the now-defunct Silk Road marketplace, running on the Tor anonymity network and selling drugs, forgeries and other contraband.

Only a couple of online stores currently accept Darkcoin for their products, like a wine shop and a UK-based seller of cannabis seeds. But some users may be trading bitcoins for darkcoins and back again, using the Darkcoin network as a giant bitcoin-laundering service. Those laundry transactions may be part of what’s driven Darkcoin’s massive trade volume, which has recently reached millions of dollars a day. “It’s sort of a private on-ramp and off-ramp into bitcoin,” says Atlas.

Duffield insists — and those who see financial privacy as a fundamental value may even believe him — that the black market isn’t the main driver of his cryptocurrency’s growth. “I don’t see much chatter about using it for illegal things,” he says. “It’s a neat technology and people want to invest in it because it’s useful.”

Darkcoin is just one of the growing number of projects attempting to make cryptocurrency payments more private and untraceable, some of which have no illusions about how they’re enabling illicit commerce. Earlier this month the crypto-anarchist group unSystem launched Dark Wallet, which it explicitly describes as “money laundering software.” A group of researchers at Johns Hopkins plans to launch Zerocoin later this year, a bitcoin alternative that uses a new mathematical trick called a “zero knowledge proof” to give its users a coin that’s theoretically completely untraceable.

source: http://www.wired.co.uk/news/archive/2014-05/22/darkcoin-is-booming

Bitcoin's nefarious cousin Darkcoin

DARKCOIN, THE NEWEST CRYPTOCURRENCY

It’s not hard to understand the appeal of crypto currencies.

It’s a fast and convenient way to buy drugs and launder money, which, to be clear, are not activities we condone in any way. The moral and legal implications of illegal transactions aren’t enough to serve as a deterrent to everybody, so it’s not surprising that cryptocurrencies continue to thrive.

The most famous brand of digital currency in existence is Bitcoin. If the Internet is to be believed, the first transaction using Bitcoin happened in 2010, when a Florida man named Laszlo Hanyecz exchanged 10,000 bitcoins for two Papa John’s pizzas. Since then, bitcoins have achieved a modest level of mainstream acceptance. Websites like Overstock and OKCupid are now accepting bitcoin payments and ATMs for the currency started popping up last year.

DarkCoin just passed Dogecoin to become the world’s fourth largest cryptocurrency.

However, as bitcoin becomes more ubiquitous, it’s gotten away from its intended purpose, which is to facilitate truly untraceable transactions. This is where Darkcoin comes in. The digital currency, which is being pushed as a more private alternative to bitcoin, is in the midst of a boom, multiplying its value ten-fold in just a month. According to Wired, it’s value has risen from 75 cents to $7 as combined coins total around $30 million. In terms of market capitalization, DarkCoin just passed Dogecoin to become the world’s fourth largest cryptocurrency.

While bitcoin has managed to manufacture a reputation for being more private than traditional currency, it has a security flaw that drives away some users. All transactions on the bitcoin network appears on a public ledger called the block chain.

“I believe the central problem with Bitcoin is that the public ledger, although a remarkable accomplishment, also allows a gross invasion of personal privacy by permanently listing all transactions the users have ever done publicly. I would imagine many groups are working to tie the addresses used to real identities and then following the money around to see what is happening with it,” said Darkcoin creator Evan Duffield in a blog post.

Darkcoin has improved on the Bitcoin system through a feature it calls Darksend. Any darkcoin transaction is automatically combined with the transaction of two other users so that it would be harder to analyze the blockchain.

darkcoin“Darkcoin uses an extension built on top of the standard bitcoin protocol, to create merged anonymous transactions. When a user wants to send money to someone he simply will leave the ‘Use DarkSend’ checkbox checked, then the client will broadcast that it would like to add an input to the pool. These messages are broadcasted throughout the network and once there are enough inputs in that pool, the nodes know it’s time to send ‘outputs’ (where you want to send your money to). After those are gathered together, all users sign the transaction, then it is merged and broadcasted,” Duffield said.

While it is expected that there the cryptocurrency will attract a black market segment, it has also generated interest from legal businesses. A Canadian wine shop and a UK cannabis seeds seller (which is legal in the country) are among the first retailers to accept darkcoins. If you want a more detailed look at how the cryptocurrency works, we’ve put up a flowchart that explains the system in more detail, which you can find below.

source: http://www.digitaltrends.com/mobile/meet-darkcoin-the-newest-cryptocurrency/#!RkGOf

DARKCOIN, THE NEWEST CRYPTOCURRENCY