We are glad to meet you here Mr. James
Question 1 :- James please tell us something about your background and profession, How did you joined the Stealth?
James :- My background is actually in science. To give an idea of my scientific career, I will do what all academics do and list my educational path.
I earned a B.S. from UT Austin in Molecular Biology, then a M.A. in Biochemistry from Columbia University in New York, then a Ph.D. in Biochemistry from the University of Colorada at Boulder, and finally did a post-doc at UCLA. I then joined the faculty in Chemistry at UNM and stayed there until i got into blockchain. I got into blockchain in 2013 during the enormous pump, where I bought BTC the top and watched it go down immediately. This left me not defeated but even more resolute to become good at trading. It also made me explore blockchain more deeply. After a couple of months of studying the technology, I decided I had to participate somehow. Any way I could, so I volunteered to help some projects.
Soon, I decided that I wanted to launch a coin myself, and this was Stealth. We launched Stealth in 2014. My idea is that practically all cryptocurrencies lacked privacy, and Stealth would have a goal of being the premier private cryptocurrency. I’ve been working on Stealth ever since, and in the last two years, have been completely dedicated to it. I quit my faculty position at UNM in 2016, and joined a different gaming-focused cryptocurrency company. Stayed with them for about 1.5 years, then founded Stealth R&D to exclusively develop Stealth’s core technologies and related infrastructure. I can stop there for questions.
Question 2:- How does Junaeth work, being Stealth’s core technology? What updates were added to qPoS to create Junaeth?
James :- Junaeth is truly unique among all blockchain technologies. It is a high performance blockchain that offers maximum scalability possible for an unsharded chain. It uses a combination of scheduled blocks and unique block validation protocol where validators purchase their signing rights from the blockchain.
All other scheduled blockchains resort to what is known as dPoS, which has many problems, including but not limited to corruption of the group of validators. You can see these problems with the Steem blockchain, that, coincidentally, will soon fork into two competing cryptocurrencies (Steem and Hive).
With Stealth’s Junaeth consensus protocol, block validators purchase a blockchain asset called a StealthNode. The purchase price is destroyed, meaning no one profits from the creation of new StealthNodes. Instead all Stealth coin holders benefit from the reduced money supply. Because StealthNodes are purchased, they are protected by the consensus algorithm, meaning no one can influence StealthNode owners or ever impinge on or take their rights away.
Junaeth is simply the new name for qPoS (Quantum Proof-of-Stake). We felt like the name “qPoS” sounded and looked too much like “dPoS” (delegated proof-of-stake) and could be confusing, especially since the two types of consensus are so different, both in their protocols and philosophy. The philosophy of dPoS is that blocksigners are beholden to stakeholders. The philosophy of Junaeth (formerly known as qPoS) is that blocksigners are permanently vested in the system and must operate faithfully to ensure a maximum return on their investments. In other words, dPoS is a politically-based system, and Junaeth is economic-based system.
Secondly, we felt like the word “quantum” in Quantum Proof-of-Stake could be confusing, as we found many people could made to strong of a connection between the word “quantum” and the concept of “quantum resistance”. The word “quantum” in Quantum Proof-of-Stake refers to the block scheduling algorithm, not quantum resistance. For these reasons, we changed the name to Junaeth.
Question 3 :- In January,Stealth introduce new feature ‘Junaeth Protocol’.
What is Junaeth Protocol and how it will be groundbreaking protocol for Stealth? Is it better than any other consensus protocol?
James :- Junaeth is a high performance blockchain that offers maximum scalability possible for an unsharded chain. It uses a combination of scheduled blocks and unique block validation protocol where validators purchase their signing rights from the blockchain. We feel like Junaeth is better than any other protocol because it is the only protocol that can achieve consensus and finality as fast as possible without resorting to the politically-based delegated proof-of-stake (dPoS). I outlined the problems with dPoS above.
Other protocols aim to be fast, such as hashgraph, but they are leaderless algorithms that use needlessly complicated gossip protocols to achieve what is known as Byzantine fault tolerant finality. With Junaeth, there is a known set of block validators, legitimized by their purchase of a specific blockchain asset. These validators can establish a super-connected sub-network (based on what are called Certified Nodes). Communication between this sub-network can be fast and highly efficient. Since this sub-network is integrated into the full network, it is not susceptible to any special attacks, giving it the same robustness as the full network. Because of this high connectivity of a known set of validators, blockchain information transmits very quickly and BFT finality can occur in a matter of seconds. Also, because of Stealth’s particular blockchain design, these fast transactions will be compatible with cryptographic privacy. This in itself is what we consider to be part of the “Holy Grail of Crypto”: a fast, feeless, private, and scalable blockchain.
Question 4 :- What is the difference between the network analysis resistance of Tor and blockchain analysis resistance of StealthSend?
Why is StealthSend’s key selection is based on four nos. and not just any number?
James :- Okay, this is of course two questions. So I’ll give the question I am answering and then the answer.
What is the difference between the network analysis resistance of Tor and blockchain analysis resistance of StealthSend?
Network analysis is a type of analysis that determines which transactions may come from which nodes and which nodes (IP addresses) are participating in the network. Tor prevents this type of analysis. Blockchain analysis is where transactions are traced from receiver to sender, all the way back to the beginning of the blockchain. Our anonymity solution, zcash, will prevent this type of analysis.
Why is StealthSend’s key selection is based on four nos. and not just any number?
I believe you are talking about a proposed technology from 2014, where we published a whitepaper. This technology was to be based on ring signatures. The so-called rings were to be selected in a random but highly efficient manner called “nonce key selection”.
We have decided not to use ring signatures for StealthSend. Instead, we will be using zero-knowledge proofs in the form of the zcash protocol.
Question 5 :- It seems that Quantum Proof-of-Stake (qPoS) is one of Stealth’s core technologies, can you briefly explain function as well as its role in the Stealth ecosystem?
James :- As I mentioned, qPoS has been renamed to Junaeth. We believe that speed, privacy, and scalability will be essential to cryptocurrency adoption. Junaeth is a key technology to achieve this special blend of features. For that reason, Junaeth will be the cornerstone of the Stealth ecosystem because it will enable the most important qualities of a useful blockchain.
Question 6 :- As I read some Medium summary of StealthSend’s Q1-Q2 2020 Roadmap, mentioning two kinds of coins.
1)XST (STEALTH) & 2) XSS (STEALTHSEND) being the interconvertible private/non private coins.
How is this possible?
What’s the Advantages/Benifits it will bring to the Users?
James :- Okay, again this is two questions.
HOW IS THIS POSSIBLE?
Multiple tokens can be possible on a single blockchain, and they can be interconvertible. The way to interconvert them is to have special transactions that can make a 1:1 swap, where you “spend” one type of token (like XST) and receive another (XSS). This is done in several cryptocurrencies already, like ZCoin and ZCash.
WHATS the ADVANTAGE/BENEFITS it will bring to the USERS?
XST is the non-private currency, the denomination of block rewards. All new money on the blockchain comes in as XST.
XSS will be the private currency, where all of sender, receiver, and amount are hidden. There are several advantage of having these two cryptos for these two different uses. First, since a cryptographically private currency requires a lot of resources for validation and especially creation of transactions, the existence of a non-private currency (XST) allows for more efficient operation when users do not require cryptographic privacy. Second a non-private currency is useful for compliance. For example, some financial regulators have begun to require what is known as the “travel rule” where exchanges must provide identity information about the sender, when users transfer coins between exchanges. Compliance with the travel rule is only possible with a non-private currency. Of course the benefits of a private currency hardly need explanation, but I will explain them for the sake of the AMA. Most importantly private currencies offer fungibility. Non private currencies may have certain coins that could be blacklisted. This blacklisting kills fungibility. Bitcoin is an example of a cryptocurrency that has certain coins blacklisted. Another advantage of privacy is that users can enjoy the same privacy they expect of other payment systems they use, like cash and credit cards. In these payment systems only the user, recipient, and in some cases payment processor knows anything about the transactions. A cryptographically private cryptocurrency reveals payment information only to sender and recipient.
Question 7 :- 2020 Recently , BTC has a huge dump and it makes people feel confuse with future of crypto. Does your project be affected by this dump ? What make people believe in long-term of Stealth?
James :- The BTC dump does not affect the future of Stealth development in any way I can foresee. We do not rely on the BTC price to be able to continue development. I think people believe in Stealth because we have delivered so much new technology so far. For example Junaeth is operational on testnet already. It has been in testnet for over half a year, and we have regular commits and community interaction. We have a blog series, do videos, and we try to interface with the broader cryptocurrency community as much as possible to spread the word about the technologies we are developing every day.
Question 8 :- Mr. James
Which shortcomings of the STEALTH blockchain industry was developed by seeing? What kind of problems do you aim to solve?
How do you evaluate your goals, vision and want to add to the development of blockchain technology? How will STEALTH develop?
James :- The biggest shortcomings in blockchain that led us to work on our Stealth core technologies of Junaeth and private transactions are:
- blockchains have not been private, or the privacy is suboptimal or inefficient
- Blockchains with robust consensus algorithms tend not to be efficient (slow). For example, BTC has a very robust consensus algorithm, but block times are 10 minutes, and the chain does not scale well, as we have seen many times in its history.
- Blockchains with fast consensus algorithms tend not to be robust. The example that led me to Junaeth is delegated proof-of-stake, like in Bitshares, Steem, and Eos. These are very efficient, but political considerations cause lots of problems. We envisioned a fast blockchain free of politics, and brought that vision to life with the Junaeth consensus protocol.
- Blockchains with fast consensus algorithms are not private. We had to envision a complete new design to approach this problem. I haven’t described it tonight, but Junaeth uses a unique hybrid ledger that allows both fast block times and private transactions.
Briefly, this ledger has two parts, the blocksigners are rewarded on what is known as an “account-based” ledger and transactions are carried on the bitcoin-type ledger called a “UTXO” ledger. It is quite technical for an AMA, but the UTXO-type ledger allows for private transactions.
Question 9 :- I find that you are quite confident with the junaeth stealth Protocol, can it solve governmental issues related to steem and binance? And can you tell more about what kind of administration stealth has?
James :- Steem has extreme governance issues that arise from nearly all coins being consolidated with the Steemit company since launch. In the Steem consensus protocol, the “community” of stakeholders are supposed to elect blocksigners, called “delegates”. However, recently, Steemit has completely controlled the chain with sockpuppets using their vast wealth of coins. In other words, Steem is 100% centralized.
I meant to say 100% CENTRALIZED. This is unacceptable in cryptocurrency. A centralized chain means that a malefactor knows who to go after if they want to attack the chain. It puts a hard limit on the value of a chain because it is completely corruptible. Junaeth solves this problem by taking the opposite extreme. Users will be able to permanently purchase block signing rights anonymously.
Block validators will be unknown to anyone unless the validator themselves wants to reveal their identity. Also, the network runs over Tor. No one will know where on Earth (literally) the block validators are located.
This complete anonymity of block validators combined with their complete sovereignity over their signing rights means they are as uncorruptible as possible, and the chain is therefore itself practically uncorruptible.
Question 10 :- As a New user in Cryptocurrency, When i see website ! I didn’t understand about Stealth project! Can you explain in short & details about Stealth project? What actually you’re trying to build & how it is helpful for users & Businesses?
James :- In short, Stealth aims to combine all of the most critical components of a useful cryptocurrency: a fast, feeless, private, and scalable blockchain. I mentioned this above, I think, but it is worth mentioning again to answer your question.
That’s what we are trying to build. It is useful for users and business alike. You can see this by dissecting each attribute we aspire to.
Fast: both users and businesses need fast transactions. Most consumers want to be done with a transaction, say at point of sale, in 5 – 10 seconds. This puts a limit on block times and transactional finality. For general purchasing, people will not use a cryptocurrency with transactions slower than 10 seconds. Stealth’s blocks have 5 second intervals, with our planned BFT finality in the 2.5 second range.
This speed is also good for businesses because consumers will require businesses to support payment solutions that offer these speeds.
Feeless. The importance of feeless transactions go without saying, but of course, I will explain. Most notably, the lack of fees means the currency itself flows easier through the economy. People can make more and smaller purchases when fees are not a consideration. Additionally, the lack of fees helps tremendously with accounting. You never need to have a separate entry for fees in your accounting ledgers. I discussed the importance of privacy above. It helps with fungibility and user security.
Scalability is perhaps the most urgent of all blockchain issues at the moment. Only a few blockchains are truly scalable right now, among them are Nano (which can’t be private because of its design). There may be some others. You can see the importance of scalability in the fact that so many BTC forks have arisen in recent years. There is BCH, BSV, etc. All of these forks center around disagreements on how and whether to address scalability. No other problem has caused so much contention in blockchain space.
Question 11 :– What are the major milestones you have achieved so far?
James :- I’ll finish with one last question, as I have been typing for an hour as fast as I can and my fingers are starting to get tired. Stealth has had the following achievements (and I may be missing some cool ones too)
In 2014, we created the first private SMS cryptocurrency transactions, and an app to send them. This was called StealthText. We have discontinued support for StealthText because it assumed a large population without smartphones. Now practically all phones are smart phones, making SMS technology antiquated without an identifiable user base. Still, at the time it was groundbreaking, in my opinion.
At launch we had the first PoS coin with built in Tor. Nowadays, that seems sort of trivial, but in 2014, blockchain was a very small community with practically no funding, or even incentive for anyone to invest any time. I feel like it was significant because we identified the importance of obfuscated routing like Tor way back then. Only in the last year or so have the bigger players begun to recognize the importance of running cryptocurrency network nodes behind Tor.
More recently, we have developed Junaeth, and it works spectacularly (in my opinion). We launched testnet and with the awesome participation of our testers, we identified all of the major bugs and fixed them within a few weeks. Recently, I finally found our most recalcitrant consensus bug, and now I feel like the Junaeth protocol is fully ready for mainnet. It is just as robust as any protocol I have seen.
We are also recently working on what is known as an API, that is built into the client. It is a unique concept where the blockchain client is an infrastructure API server.
As of tonight, I just finished up full support for HD wallets.
I’m almost done with this API, and after that I am going to move to anon (private transactions).
These are just a few of the things I can remember as I sit here typing as fast as I can. If I were to think about it, I’d come up with a bunch more.
The thing I want to convey is that we are on a steady development path and we make regular large updates. I usually don’t submit my new code every day, but I do a lot of coding and every few weeks submit a fully finished commit that adds new technology to the Stealth blockchain.
⛓️ 🔗 Helpful Links 🔗 ⛓️
Website :- https://stealth.org/
Twitter :- https://twitter.com/stealthsend
Telegram :- https://t.me/Stealthsend