Coinbe

Decentralized system for payments and transfers of values between own users.

Synopsis.

Sending values between two users without the need for a financial, banking or government entity as regulator. A revolution, since it dispenses with the need for large energy sources or cpus for its mining. A worldwide network of miners, dockers and transfers that, among themselves, perform digital signatures and validate the amounts sent or received.

 

Nomenclatures.

  1. Transfers. Any user who sends or receives cryptocurrencies.
  2. Dockers. Every user who stores the books, information, and certifications.
  3. Miners. Every user who validates transactions and receives X amount.
  4. Docker-default. Wallet with no external access. Contains the units to be forcibly extracted.

 

Introduction.

Cryptocurrencies have currently (February, year 2021.) become a major force for payment and asset transactions in the market. The creation of tokens, coins, and patches, by companies, governments, and anonymous individuals, is no longer considered out of the ordinary. Digital currencies are used recurrently for the purposes of electronic payments, document certifications, and transaction validation, greatly impacting the current economic system and causing large institutions to see exponential growth of small, decentralized financial managers. In addition, they also create great business opportunities for anonymous people that were previously impossible to attain, precisely because they were always centralized in large corporations. With the infinite possibilities of crypto-activities on the internet, it is notable the need to create new ways of sending, transactions and validations, which can be obtained and certified without major oscillations, with the difficulty generated by the maintenance of mining farms, excessive power consumption and the scarcity of hardware on the market for the purpose of mining, seeking the best cost-benefit for users, in order to decrease the operational value for mining and validation.

 

Blockchain.

In the cryptoactive market there is a need: to confirm transactions through a chain of users, thus creating a chain of blocks that validate each sending or receiving. For the thousands of cryptos listed on the market, there is the possibility of transacting by locating a blockchain of another crypto with a higher transaction volume. For this, an X amount is needed so that this network can certify what is sent or received, this type of service is widely used by tokens and currencies with no real monetary value.

Coinbe operates on its own blockchain, creating its own blockchain and forcing its users to be certifiers, miners, and signature storers, in an unalterable and random network for every transaction performed.

 

Transactions.

Each transfer user can send another the dockers stored in his or her wallet, and have the transaction validated by at least four other random miners within the block chain.

The transfer is peer-to-peer, from person to person, without any external interferences to the chain. The time for the transaction is that required to obtain the minimum validations, which will occur randomly at users (miners).

Transactions

Mining.

Coinbe is validated across the user network and each validation is awarded two units of the coin, which are extracted from the docker-default wallet. One (1) unit enters as gas for the network, falling into a fiduciary wallet, the docker-default, and the remaining (1) unit is forwarded to the user who, with his wallet, becomes a validator of the transaction in the sending stream. By becoming a miner – a randomly chosen user within the block – the user with the highest number of sending and receiving transactions ensures preference in the process, and thus the most active users are rewarded, mostly more often.

In the docker-default wallet there are 100 (one hundred) million units to be extracted, of which 20 million are pre-miners (delivered in good faith) and 80 (eighty) million must be extracted by users (miners), when they are validators of transactions. 40 (forty) million will be delivered as prizes to the users and 40 (forty) million will return to the docker-default wallet, so that the process can be continued until the extraction of 100 (one hundred) million units. Always one (1) unit will return to the default wallet, when there is the certification, to ensure the maintenance and continuity of the validation process.

After the hundred (100) million surplus has been mined, the incentive can be funded by transaction fees that go back to the docker-default in the form of coins so that they can be mined again and thus create a reward loop. If the output value is greater than the input value, the difference is the fee that will return as a chargeback to the docker-default, thus always adding new rewards to recreate the certification loop.

Mining

Dockers.

Dokers are all users who keep wallets stored with the minimum amount of 100 Coinbe units required to become a miner and to use the network to store signatures in the digital book. For the user to become a miner, he must be a docker and actively send and receive values within blocks.

 

Docker-default.

The docker-default portfolio holds one hundred (100) million units to be mined, of which 20 million are pre-miners (delivered in good faith) and 80 million must be mined by users (miners) when being transaction validators.

Of the one hundred (100) million units, forty (40) million will be awarded to users and forty (40) million will return to the docker-default portfolio, so that the process can be continued until the extraction of one hundred (100) million units, always returning one (1) unit to the docker-default portfolio when there is certification. With this, we will have the continuity of the validation process.

 

Network.

To keep the network active it is necessary to follow the steps of the nodes within the blocks in the following features:

  1. The sending is done between users and by the users themselves.
  2. The send-receive chain is opened.
  3. Validations are done by users.
  4. Mining is paid at validation.
  5. The zero block receives the validation reversal.
  6. Certifications are stored by users.
  7. The receipt is carried out by the user.
  8. The send-receive chain is closed.
  9. The public certificate is generated.
Network

Shipping and receipt verification.

Every initiated transaction opens the send-receive chain, generates a unique identifier code, which will be used for validations, generates the temporary validation certificates, and generates the public certificate.

This code is stored in the Coinbe explorer and can be publicly consulted by any of the users.  The code remains identified as pending while in validation process and with finalized status when its public certificate is generated.

 

Privacy.

The user of traditional payment systems suffers serious consequences from the lack of privacy, generated by the large volume of information stored in an inordinate manner by the financial entities. In order to protect the users of the network, Coinbe generates the validation code and the send-receive chain anonymously. The public knows that one user is sending to another, but does not know the start and end point of the chain, thus creating tamper-proof privacy security. By randomly certifying the send-receive chain, the start and end point will always be broken into a third, fourth, and fifth part, which become the trust key.

As an added protection, certifying miners are chosen randomly, without a pattern of repetition or choice.

 

Network protection.

Fraud prevention is the greatest legacy of Cryptoactive, because it is not possible to reach the initial point of the sending chain or the final point of receipt. Everything is done anonymously and from user to user, making the path of the sent and received amounts inviolable.

A block generates its random encryption key by taking it end-to-end, which will be broken into a third, fourth and fifth part and reassembled at the final output of the send-receive stream.

 

Simplified verification.

It is possible to verify in a simplified way the payments without closing the sending-receiving chain through temporary certification, highlighting the result only as pending. In finalized results, the certification is mostly listed as verification complete.

 

Incentive.

See mining.

 

Conclusion.

Coinbe is a system for electronic transactions, without a central controlling authority and with incentives for the users who use it as a means of payment. It is a currency structure based on digital signatures, and users themselves randomly certify among themselves the validity of their funds. Users do not need to be identified, acting anonymously and with the security of the point-to-point system’s inviolability. Docker-default mining makes it more profitable for the user to practice and use Coinbe because of its low cost, not requiring the use of electricity, hardware, and other devices, since it occurs simultaneously with the recurrent use of the currency. The incentives paid to users make Coinbe a prize-capable currency and, at the same time, return the value, equal to the prize, to its Docker-default, so that new users can receive incentives. With its own independent processing network that is not linked to any other network, Coinbe is autonomous in market value and regulated by demand, supply, and demand, where the buying and selling value is established by users through transactions. Thus, digital currency is not dependent on any other form of market valuation

References.

 

[1] A. Back, “Hashcash – a denial of service counter-measure,”
http://www.hashcash.org/papers/hashcash.pdf

[2] Nakamoto , Satoshi, ” Bitcoin: A Peer-to-Peer Electronic Cash System
“https://bitcoin.org/files/bitcoin-paper/bitcoin_pt.pdf

[3] W. Dai, “b-money,” http://www.weidai.com/bmoney.txt, 1998.
http://www.weidai.com/bmoney.txt

[4] Silveira Camacho, Tatiana. Costa da Silva, Guilherme Jonas. “Crypto-Assets: An Analysis of the Behavior andBitcoin’s Price Formation “
https://revistas.ufpr.br/economia/article/download/67885/38877

[5] D. Bayer, S. Haber, W.S. Stornetta, “Improving the efficiency and reliability of digital time-stamping,”

 

 

Brazil. February, 2021.