Noso Cryptocurrency project
Current document status: incomplete
- No need for block chain.
- Customizable addressesTransfer concept.
- Ultra fast and light.
- Built-in scalability that allows easy improvements to the protocol.
- Macro project that incorporates various aspects.
- Built-in exchange platform.
Noso is a new generation virtual cryptocurrency, which works through a P2P protocol, incorporating new functions and features, as well as improvements to the ones you can found in current cryptocurrencies. It operates using asymmetric cryptography keys (also called public key cryptography) to guarantee the integrity of transactions. This project aims to be an improvement of existing cryptographic currencies, whose first and best known exponent is Bitcoin. Before proceeding, it is good that you are documented about the technical concepts of operating a virtual cryptocurrency, so that you can fully understand the points presented here.
Anyway, we summarize here the most important terms:
Block chain: It is the data source to keep the information updated within the protocol. Each block contains all the transactions made in the network from the moment in which the previous block was generated until the moment in which the next one is created. To create a new block, it is necessary to find the solution of the previous block, through a process called "mining".
Mining: It is the process by which computational effort is dedicated (and therefore, there is an electrical and hardware expense) to find the solution to the cryptographic problem of the previous block. This problem consists on calculating a chain of characters (with a format predefined by the protocol) that has a Hash concordant, in part, with the hash of the file that contains the previous block. In Noso, the difficulty will be adjusted automatically based on the calculation power of the network, in order to obtain blocks in a set time interval.
For each new address, the software generates a new ECDSA key pair. The private key is stored only in the user's wallet, while the public key, using MD160 and SHA-256 hash functions, yields a valid Noso address of the type:
This address has the following qualities:
- Length: 30 or 31 Characters.
- The first character is always a capital 'N'.
- The remaining characters are on base 58 (same as Bitcoin) Range: 0-9,A-Z, a-z. Except number zero (0), capital letters O and I and letter l.
- The last 2 characters works as checksum, to avoid miss typing errors.
This address is the one that the user must share to receive transactions. You should never share private keys, as these are the ones that guarantee that only you can access the existing funds in your wallet.
Account Summary (Addresses)
The file sumary.psk contains the information of all the existing addresses in the protocol, including the available balance, as well as the current situation of the blockchain. It is updated with each new block that is created, therefore, it is enough to download this file to start operations in the network. This means that a new user does not need to download the whole blockchain to start using their portfolio, mine new blocks or verify new transactions in the network.Because the size of this file would increase unpredictably if all the addresses created by the users were immediately registered, the protocol only includes in the summary those addresses that have already received a transaction or mined a block. This keeps the file limited to the size of the addresses used. In addition, due to new protocol functionalities, a user will no longer have to create a new address for each transaction (although he can do so if he wishes) thanks to the 'Alias' or 'Personalization' system of the addresses, as well as a new field : The Concept (we will see this in detail later)Additionally, the Noso protocol has a unique quality for addresses: Customization. It consists of assigning an alias to a specific address, so that the user can share this alias, which can be much easier to remember, to receive payments. It is important to note that when you customize an address, it is immediately registered in the summary of accounts, therefore, doing so has a cost, defined by the protocol. There can not be duplicate aliases in the protocol (in the same way that two identical addresses can not exist).
Optimization of the accounts summary
As already mentioned, the accounts summary contains all the necessary information for the nodes and is, therefore, the crucial part of the Noso protocol, so keeping it efficient is a fundamental part of the project. To achieve this, certain measures are included:Cost for account customization (explained in the previous paragraph)
There will be a minimum amount per transaction, established by the protocol, to avoid saturation of the network with micro transactions.
All transactions have a fixed cost: 0,01 %, with a minimun of 0,00000010 Noso. All transcations fees are paid to the miners.
The reference (from the Spanish: concept)
The reference is an alphanumeric chain added in each transfer, which can contain any type of information that the payer can include for the receiver of the transfer. The reference is included in the digital signature to avoid double-spending situations. The length of the reference has a maximum of 40 characters and is not case sensitive.
In the Noso protocol, the blocks serves to order the transactions correlatively and keep the account summary updated, so once a block is created and its information added, its utility lies only in consulting the transaction history. This is why Noso is independent of the block chain once the user updates to the network.In further versions, the user could choose between running a complete node, in which case he will download the entire blockchain before updating, or not; if he do not do it, will just download the last twenty blocks.The structure of a block is the following:Header: Contains all the information of the block, including: start time, end, duration, direction that performed the mining, reward, commissions, problem for mining, difficulty, etc.
List of transactions: A list of all transactions included in the block.
Double spent control
In the Noso protocol, double-spending control is carried out by verificating the transaction hash, the previous balance of the sender address and the pending transactions. Since all transactions have a timestamp incorporated, a signed transaction will only be valid for the current block or the next one (we will explain later why). Unlike other cryptocurrencies, this means not being able to perform offline transactions, but it allows faster calculation and verification of transactions, as well as the virtual elimination of orphan blocks. A transaction can not be duplicated in the same block, nor exist in the previous block, in order to be accepted, since if its creation timestamp were lower than the start of block X-1, it would be automatically discarded.
Given the nature of the Noso algorithm, the precision in the synchronization of the nodes is very important. Although it does not require absolute accuracy, if it is necessary that they handle very similar times. This is why version 0.2.0 will use known public servers to set the time of the node before comparing it with the other members of the network. Although the difference by latency should in no case exceed two seconds, the protocol establishes as five seconds the maximum time allowed to accept transactions from a pair; this prevents late and malicious retransmission of duplicate operations. All operations within the network use the UTC reference time.
The Noso protocol is designed to prevent the creation of orphaned blocks, and if one is created, prevent its propagation through the network. This is achieved by keeping all pending transactions uniform, modifying their structure only if a modification will not be included in the next block, in order to give time to re-verify all subsequent transactions. This means that if one or more transactions are generated shortly before the creation of a block, those transactions will be included in the subsequent block.
Noso Project objectives
The Noso project aims to facilitate the payment of goods and services online, without the need for third parties and in an effective time for both consumers and merchants. To achieve this goal, the project includes the development not only of the protocol and the portfolio, but also of other applications that will allow this functionality.WalletLite: Implementation of the wallet for the user who only wants to buy and sell. It will not act as a node, nor validate operations, it will only keep the summary of accounts and the user's own portfolio updated. It will allow you to make instant payments with a single click at the places that accept payments with Noso, as well as verify the balance of your portfolio at all times.
Web explorer: will keep the status of the Noso network up-to-date at all times, to serve as a source of information to those who wish to consult it.
Web exchange: Similar to the existing one for Bitcoin, a web platform that allows Noso owners to exchange their balance to FIAT, quickly, efficiently and reliably, directly with other users.
Web tools: This part includes the development of tools for programmers, in different languages (PHP, Phyton, Java, etc) to facilitate the incorporation of Noso payment procedures in websites that wish to join the network.
Wallet: Constant improvement of the desktop wallet, since as the main support of the network, it requires continuous updating to incorporate new functionalities to the protocol.
Another objective of Noso is to create a community of users as large as possible, avoiding the action of whales and speculators. This is why the initial code does not include any type of function that facilitates mining by the pools dedicated to it; On the contrary, our idea is that in the first months, mining is done directly by the users, since in this way more people will be participating in the project.
Operability and business model.
The following box shows the Noso production schedule over time.
0,049 % of the total Noso to be produced will be premined in block zero; this amount will be to the promotion of the project through gifts, prizes, contests and activities through the different channels and social networks (blog, facebook, twitter, etc.) achieve maximum diffusion and reach the largest number of users. It will also be usefull to paid for external services, as seed servers, web page design, promotion to be included in exchanges and many others.The detailed accounting of this amount will be reflected on the website in an updated and transparent manner.The following points are considered foundational values of the project:It will not be invested in paid advertising.
The anonymity of the development team will be maintained as far as possible, following the ideal of the creator of Bitcoin.
Any benefits obtained through the additional services of the project will be fully re-invested in it.
The deadlines set as the highest priority will be met.