Conceal Network(CCX) Lisiting on ChainX
Conceal Network(CCX) was listed on January 12th at 13:00(KST).
Trading Pair : CCX/KRW
About Conceal Network(CCX) : https://conceal.network/
BANKING
Conceal.Network is an open source private cryptocurrency (a peer-to-peer digital cash system). Deposits form the backbone of the Conceal.Network ecosystem, providing users with a decentralized and egalitarian form of Cold Staking ₡CCX, the native coin of Conceal.Network.
Saving money is incredibly important. It gives you peace of mind, expands your options for decisions that have a major effect on your quality of life, and eventually gives you the option to retire. Most people who are wealthy got there through a combination of their own hard work and smart savings and investment decisions. You can become one of those people, too.
With the Conceal Desktop wallet, and very soon with the Cloud and Mobile wallets too, you can choose to lock any amount of your ₡CCX holdings as a deposit in the blockchain and earn interest on it.
What Is A Deposit?
Conceal deposits are based in Cold Staking and privacy-protected Hashed-Timelock-Contracts (HTLC) technologies. Cold Staking is a timed deposit you earn compounding interest on when the locked deposit matures. Users privately choose the length of the staking period and the amount of ₡CCX to be staked. In practical terms, this means that you can begin staking ₡CCX from a wallet that can be offline. No need to keep a computer, mobile phone, or Virtual Private Server running for 24/7 wasting energy and money. You set up your own terms for the contract privately and anonymously, in a trustless environment and without any third party involved. Yes, that’s it. Nothing else is required.
Conceal Deposits v3.0
The minimum period for a Conceal deposit is one month and the maximum is one year (12 months). The annual interest rates vary from 2.9% to 6% depending on how long you choose to lock your deposit and the amount locked. The bigger the amount and longer your deposit is locked, the higher the annual effective interest rate you will receive. Once you have made a deposit on the blockchain for a certain amount of time, it is locked in until that time and you can’t access your savings. It is a time-locked contract. Totally private, encrypted and secured by the blockchain. The following table details the three deposit tiers available:
Now that we have identified the unique deposit tiers, the following table details the Annual Percentage Rates (APR) for each of the three tiers based in our initial banking model and without affecting the emission curve:
Taking our custom compounding model into account, being careful with any potential derivation from low inflation, and trying to have a decentralized and egalitarian reward system for everyone, we have created the following Effective Annual Rates (EAR):
Our compound interest model developed completely in-house, takes cryptocurrencies’ data analytics, markets, volatility, and shorter time-frames into account. The following describes the compound model specifics:
This simple model translates to the following compound interest rates table:
In practical terms, if you deposit the amounts on these examples you will receive the following earnings:
When you’re not using your money, http://Conceal.Network helps you to generate passive income.
MINING
Block Rewards
The Conceal Network community unanimously voted and adopted to radically redefine the block rewards emission model. Conceal Network successfully hardforked on December 18, 2020 at fork block is 661300 to make this happen.
The mining block reward was effectively cut in half to 6 $CCX per block and will remain fixed until the maximum supply of 200M is reached. The original emission equilibrium design between coins minted through cold staking and coins mined by PoW will remain unchanged for now.
Making $CCX more scarce, with an immediate cut to the minimum block reward of 6 $CCX, will help with future price stability and remove any needless inflation.
The project aim has remained unchanged. The focus continues to be on decentralization and the proper thing to do is make changes that support this goal. We want to give back the network to small miners and provide an environment that fosters fair distributed PoW mining for more than 100 years.
PoW Algorithm — Cryptonight-GPU
Miners are very important to us.
Conceal Network implemented the Cryptonight-GPU mining algorithm, developed by Psychocrypt and Fireice_uk.
Cryptonight-GPU (CN_GPU) is an ASIC, Botnet, and FPGA resistant mining algorithm that assures a fair GPU based supported network.
CN_GPU relies primarily on GPU core compute performance and is the first mining algorithm that is specifically designed to use floating point math at a single-precision (FP32).
Floating-point operations per second (or Flops), represent just how many computations (additions and multiplications) can be handled per second by a GPU. FP32 refers to the level of accuracy of those numbers (and is the number format).
A CPU generally consists of 4 to 8 CPU cores, while a GPU generally consists of hundreds of smaller cores. Since ASIC, Botnet, and FPGA builds rely on specialized low memory CPU computation, a mining algorithm based around GPU core compute performance renders them unprofitable.
GPU performance with the CN_GPU mining algorithm relies on physical core count and its clock in Mhz, making AMD and Nvidia GPUs very similar in performance.
The goal of the CN_GPU mining algorithm is to assure fair GPU mining:
- AMD and NVIDIA GPU lineups are equalized
- Low-end and high-end GPUs are measured based on core compute performance (Flops performance)
- To eliminate any CPU and Botnet mining advantage
- To force ASIC or FPGA design to be cost-prohibitive
Conceal Mining Pools
https://explorer.conceal.network/index.html#pools
https://miningpoolstats.stream/conceal
ChainX exchange support the deposit and withdrawal of Conceal Network(CCX)(https://chainx.kr/)
