Ring signatures are the basis of all the anonymous features of Eclipse. Ring signatures obsfucate the originator of a message so that the only mathematical proof that can be attained is that 1 person out of N people is the original writer of a given message. The message can take the form of proposing a new rule, donating tokens, transferring property, or leaking confidential material.
By design, ring signatures require the computation of a value known as a “key image”. Key images in Eclipse are generated using an algorithm known as “Try-and-Increment”, a cryptographically secure method for mapping a scalar hash to a point on the elliptic curve. The security of Try-and-Increment comes from the fact that this method does not rely on the group generator (i.e. basepoint) of the elliptic curve.
The inclusion of our implementation of Try-and-Increment, based on the algorithm proposed in How to Hash into Elliptic Curves, is our only modification to the optimized libsecp256k1 library that is used in libbitcoincore.
You, along with Alice, Bob, Charlie, and Dianna, belong to an organization that creates rules that determine how everyone behave towards one another. You want to propose a rule that benefits yourself, Bob, and Dianna.
However, you have a strong working relationship with Alice and Charlie and don’t want them to find out that you proposed a new law that doesn’t benefit them. With ring signatures, you can hide the fact that you were the one who suggested this new rule.
You support an organization that is run by Alice and Bob. Eve is collecting information for Gordon to know who supports and donates to Alice and Bob’s organization. You can donate to Alice and Bob’s organization without Eve finding out and telling Gordon with the use of ring signatures.
You support Alice for a particular political office. However, you are not able to donate more than a certain amount to her campaign due to individual contribution limits. With ring signatures, you can avoid these rules by hiding the fact that you are the person donating to Alice’s campaign.
You are working in China and make more than $50,000 worth of Yuan in a year. You are afraid that China’s central bank may decide to debase their currency even further, rendering your current holdings in the Yuan worth less. You recently read the news how the Chinese government is trying to stop people from transfering more money out of China than they are allowed using Bitcoin.
Eclipse, with its implementation of ring signatures for anonymous money transfers, allows you to circumvent China’s currency exportation laws and anonymously transfer more money out of the country than you are allowed by law.
You possess a digital token that represents ownership of some type of property. You can anonymously transfer your property, and the underlying token that represents ownership, to someone else using ring signatures.
You work for an organization that is performing actions that you believe are unjust. However, you fear for your life if you speak out and tell others about these unfair practices.
With the help of ring signatures, you can be an anonymous whistleblower and bring to light the activities with which you do not agree.
Blockchains that are forks of ByteCoin, the original CryptoNote token, use Ed25519 (see: High-speed high-security signatures), an elliptic curve in a Twisted Edwards form, for their digital signatures. Ed25519 is birationally equivalent to Curve25519, an elliptic curve in Montgomery form, originally studied by D.J. Bernstein in Curve25519: new Diffie-Hellman speed records.
Unfortunately, one cannot be entirely certain if the parameters that were used for Curve25519 (and the subsequently derived parameters for Ed25519) were chosen in such a way to allow a backdoor by the NIST (which has been known to happen with SECP256R1 due to the Snowden revelations) due to choosing the restrictive parameter space a posteriori after a suitably (insecure) curve had been constructed.
It is our opinion that neither the security of this curve nor the integrity of Bernstein is up for debate. However, SECP256K1, a Koblitz curve, had parameters chosen by a community of cryptographers as opposed to one cryptographer; it is our opinion that one researcher could be a malicious actor easier than multiple researchers acting in a Byzantine manner.
We decided to use the SECP256K1 elliptic curve for Eclipse due to its parameters being chosen publicly in a way to achieve fast arithmetic operations and its long-standing usage with blockchains.
Our Team is dedicated to the long-term success of Eclipse Crypto.
However, ‘long-term success’ are mere words unless we back them up with action. We have decided to impose a restriction to the access of 1.4 Million EC of our Development Fund wallet using the CheckLockTimeVerify (CLTV) operation. Using this built-in script functionality, we made it so that 1/40 of the tokens that are in control of the Founding Team will become available at the beginning of every quarter for the next 10 years.
This action effectively reduces the supply by 40% and gradually increases the access to the coins over the next decade. We are the first cryptocurrency development team to combine these features to create a long-term funding model.
We believe that by doing this, we demonstrate our commitment to the development of Eclipse Crypto, not with words, but with recorded, transparent, and provable actions that can be queried on the blockchain.
In addition, the coins that are locked away for the next 10 years will not be staking.
The Development Fund will be paid quarterly over 10 years:
The remaining 89770 Eclipse from the developers’ public address build the Eclipse Marketing & Development Fund which can be found here:
The 1.4 Million Eclipse will be locked using CLTV for the forementioned purpose and can be found here (non staking) :
Algorithm: SHA-256d PoW/PoS with Independent Targeting
Block Time: 256 seconds (4 minutes)
Max PoW Mining Supply: 2.78 Million (last block 4725)
PoW Reward: 4027 EC halving every 337.5 blocks
PoS Min Age: 8 hours
HiPoS Length: 4 Weeks
HiPoS Reward: 300 Corona, decreasing by 10/day to 20 Corona
Post-HiPoS Reward: 10 Corona
Fee (Comission): 0.0002 EC
Secp256k1: New (bitcoin)
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