Loki cryptocurrency (LOKI): overview, prospects

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Loki (LOKI)

Loki is the Monero fork, one of the safest and most anonymous coins on the market. Loki aims to create a completely private network in which users can trade and communicate. What is the difference between Loki and Monnero? In fact, there are several differences.

Loki is the Monero fork, one of the safest and most anonymous coins on the market. Loki aims to create a completely private network in which users can trade and communicate. What is the difference between Loki and Monnero? In fact, there are several differences.

Loki’s consensus algorithm is a hybrid PoW / PoS system (e.g. Dash). On average, 50% of the block reward will go to miners who perform PoW operations. To stimulate Service nodes to ensure network stability and to perform additional network services, Service nodes will receive a 45% block reward. The rest of the 5% will be awarded to the management pool.

The biggest difference is that applications can be built on top of Loki and will be called SNApps. Loki messenger, a decentralized private messaging tool, will be the first SNApp. Stimulating Service Nodes will ensure that SNApps will run continuously and cannot be stopped.

Loki features

First of all, Loki will adopt Monero’s proven technology to protect the privacy of its users, such as ring signatures, RingCT and hidden addresses.

  • Ring Signatures
    It is a type of digital signature in which a group of signers is brought together to sign a transaction – the source of money is hidden and the sender’s identity is protected.
  • Ring ct
    Means ring confidential transactions. It hides the actual transaction amount.
  •  Hidden addresses
    Hide the purpose of money. Instead of sending money to the address of the recipient, a new one-time destination address is created, and the money is sent to this address. The recipient can calculate a one-time secret tracing key to this hidden address using his wallet private key key. Money is obtained without disclosing their true public address.

Loki Messenger will use public key cryptography. If I want to send you a message, I will put your public key as the receiving address. Then the message is signed by my common address and transmitted to three randomly selected Service Nodes.

Each Service node can store a message for 24 hours. To receive the message, you will need to send a request signed with your private key to the Loki network. Service nodes will try to find messages destined for your public key. When it is found, a message will be issued to you.

Worries

I think that obviously, there are two types of projects that will compete with Loki. The first is Monero and other privacy coins. Today, Loki is like the best version of Monero, and it will solve some problems of Monero, but Monero may undergo an upgrade in the future, and Loki may lose its benefits.

The second type is other blockchain-based messaging platforms such as Mainframe and Mercury Protocol. However, both the Mainframe and the Mercury Protocol are built on Ethereum, which is not a purposeful targeted movement. In terms of privacy, Loki Messenger will certainly be a leader.

Output

Loki is an open source protocol built on the basis of the most private block, Monero. Users will be able to trade and communicate with absolute freedom and privacy. The idea of ​​SNApps is also very attractive. Now developers will be able to create privacy-oriented applications on top of the private block. I will definitely follow this project closely!
+ Monero plug
+ Low hardcap (9M)
+ Experienced core team members
+ Supported by reputable advisers
+ SNApps can be developed on top of Loki
+ 1 year for team members and advisers
-The contest exists with the secrecy of coins and decentralized messaging projects
– Lack of information on the use of LOK SNApps tokens

 

 

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