White Paper

White Paper

ALPHARD COIN: A PEER TO PEER ELECTRONIC CASH SYSTEM


Abstract

Without going through a financial institution , a purely peer to peer electronic system would allow online payments to be sent directly from one party to the other. Digital  signature is a solution to this, because the trust is all on the third party which should not be lost to prevent double- spending. We propose a solution with this peer to peer network formation where the broadcast is done on best effort basis.

INTRODUCTION

Alphard Coin is a cheap, rapid and reliable method for moving economic value across Internet which will be operating smoothly over 5 years . Judging the current transaction process, we have introduced a volatile coin that would be an affordable  one for every individual.

Keeping in eye the future aspect and boom of the market Alphard Coin has started working drivin the entire force by the community and powered by AI by the year mid -2019.We are a secured Block Chain technology and are also working decisively towards infusing advanced AI algorithm anticipating market trends and data analysis from now for your future. With our democritized and decentralised control , we intend to join hands with the e-Commerce retail sharks for helping the consumers in buying and purchasing with lot ease through the saved cryptocurrency.

Along with this Alphard Coin is also going to enter market with Smart Contract Technology eliminating the need of middleman to save peoples’ time , money and bring more comfort.

At the heart of Alphard Coin lies the blockchain, a global decentralized ledger which will store  the full history of all transaction. The Alphard Coin ensures barring temporary discrepancies  with a key feature that nodes can join and leave the network at any time  without disrupting the functionality of other nodes for the transaction.

We can create new transaction by any node and cross use in any network for a proper peer to peer communication.  A new block could be created  as any node can take a set of these pending transactions and propagate across any network. To prevent minority control over mining , we are using “Proof of work” to create a new block.

Along with bitcoin and Alphard Coin transaction , the blockchain can be used to store any digital data. The decentralized nature means that Alphard coin cannot be effectively stopped. With a team of 12 members we have introduced an official mechanism for making arbitrary transaction and effectively securing your future.

Proof of Existance and blocksign is used to notarize the existence of document with a digital signature  inside a transaction. Transaction metadata  is used b y several protocols to also support third party asset on the block chain. Initial, an issuing element makes another arrangement of tokens speaking to an advantage, by sending an exchange with some "asset genesis" metadata. As a component of this procedure, the issuer can embrace a legally binding commitment to enable these tokens to be traded for the identical real­world resource whenever . Responsibility for tokens is openly exchanged between holders utilizing different exchanges with "exchange" metadata,without requiring the endorsement of the backer or some other specialist. As a result, a token goes about as a computerized conveyor bond, with the responsibility for bond controlled by the information installed in the bitcoinblockchain . In the back world, a token issued by a foundation with a solid institution that could be seen by different establishments as a nearby estimate to the basic resource.

TRANSACTIONS

We have created an electronic coin as a chian of digital signatures where each owner transfers the coin by diitally signing the hash and the public key of the next owner and adding these to the end of the coin.  To verify the chain of ownership the payee can verify the signature.

The only factor would be the payee cannot verify that any one of the owner didnot  double spend the coin. So we have introduced a trusted central authority that will check every transaction for double spending. The coin must be returned to issue a new coin after every transaction and that is a full-fledged secured mode with every transaction going through analysis.

We require a method for the payee to know that the previous owners did not sign any earlier transactions. For our purposes, the earliest transaction is the one that counts, so we don't care about later attempts to double-spend. The only way to confirm the absence of a transaction is to be aware of all transactions. In the mint based model, the mint was aware of all transactions and decided which arrived first. To accomplish this without a trusted party, transactions must be publicly announced, and we need a system for participants to agree on a single history of the order in which they were received. The payee needs proof that at the time of each transaction, the majority of nodes agreed it was the first received.

TIME STAMP SERVER

We begin with a time stamp server that works taking a hash of a block and proves that that data must have existed at the time in order to get into the hash each time inclusive of the previous timestamp forming a chain with each additional time stamp reinforcing  the ones before.

PROOF OF WORK

This solves the problem in major decision making the majority decision is represented by the longest chain, which has the greatest proof-of-work effort invested in it. If a majority of CPU power is controlled by honest nodes, the honest chain will grow the fastest and outpace any competing chains. To modify a past block, an attacker would have to redo the proof-of-work of the block and all blocks after it and then catch up with and surpass the work of the honest nodes. We will show later that the probability of a slower attacker catching up diminishes exponentially as subsequent blocks are added. To compensate for increasing hardware speed and varying interest in running nodes over time, the proof-of-work difficulty is determined by a moving average targeting an average number of blocks per hour. If they're generated too fast, the difficulty increases.

NETWORK

The step to run network is as follows:

  1. All nodes are broadcast on new transaction.
  2. Each node collects new transactions into a block.
  3. Each node works on finding a difficult proof-of-work for its block.
  4. When a node finds a proof-of-work, it broadcasts the block to all nodes.
  5. Nodes accept the block only if all transactions in it are valid and not already spent.
  6. Nodes express their acceptance of the block by working on creating the next block in the chain, using the hash of the accepted block as the previous hash.

Nodes always show the longest chain that will be working on extended version. The tie will be broken with the next proof of work when one branch becomes longer , and the other branch will switch to the longer node. It is not necessary that new transaction broadcast will have to reach all the nodes. Block broadcasts are also tolerant of dropped messages. If a node does not receive a block, it will request it when it receives the next block and realizes it missed one.

FORK   METHODOLOGY

This was introduced by Bitcoin, and is now the base for any new digital currency to be ventured into the cryptomarket. . One can liken the solving a blockchain to a chain-growth polymerization mechanism: when the next block is solved, the blockchain grows, just as a polymer grows upon the reactive addition of monomer to the polymer chain end. However, while longer polymer chains are generally desirable as they impart increased toughness on the resulting plastic, increasing the blockchain size results in increased storage consumption as well as significantly longer node sync times.

A significant issue that any fork must handle is a so-called “replay attack,” in which a post-fork transaction on the original blockchain is made valid on the new blockchain. All coin forks must have replay protection in order to ensure legitimacy and independence from the original blockchain.We are using industrial standard approach which is well studied and worked successfully for Bitcoin also and thus we ensure to give you a secured platform for ‘n’ number of transactions that you make through this platform.

INCENTIVE

The first transaction is a special transaction of a block that starts a new coin owned by the creator of the block. This is an addition for nodes to support the network providing a way to initially distribute coin into circulation since there is no central issuing authority for them. The incentive can be funded with transaction fees. If the output value of a transaction is less than its input value, the difference is a transaction fee that is added to the incentive value of the block containing the transaction. Once a predetermined number of coins have entered circulation, the incentive can transition entirely to transaction fees and be completely inflation free.

RECLAIMING DISK SPACE

  Once the latest transaction is under the enough clocks ,  the spent transaction can be discarded to save disk space. The interior hashes donot  need to be stored

SIMPLIFIED PAYMENT VERIFICATION

The user needs to keep a copy of block headers of longest proof of work chain. Such a verification is reliable as long as honest nodes control the network. One strategy to protect against all these attackers is to   accept alerts from network nodes when they detect an invalid block, prompting the user's software to download the full block and alerted transactions to confirm the inconsistency. Businesses that receive frequent payments will probably still want to run their own nodes for more independent security and quicker verification.

COMBINING AND SPLITTING VALUES

It would be uncertain to make a separate transaction for every cent in a transfer while handling the coins individually. To allow value to be split and combined, transactions contain multiple inputs and outputs. Normally there will be either a single input from a larger previous transaction or multiple inputs combining smaller amounts, and at most two outputs: one for the payment, and one returning the change, if any, back to the sender.

But remember, that a transaction depends upon several transaction and there is not always a need to extract a complete stand alone copy of transaction in history.

PRIVACY

The transaction banking model is set to achieve a level of privacy by limiting access to information to the parties and trusted third party. The necessity to announce all transaction involves these methods but the privacy can  be maintained by breaking the flow of information. The public can see that someone is sending an amount to someone else, but without information linking the transaction to anyone. This is similar to the level of information released by stock exchanges, where the time and size of individual trades, the "tape", is made public, but without telling who the parties were.

Financial privacy is a critical principle in Satoshi’s vision of any new digital currency world, however, many people are still stuck at crossroads with pseudo-anonymous transactions on blockchains. Furthermore, there are government and private sector organizations that leverage massive datasets and machine learning to identify the individuals associated with such a transactionA new key pair should be used for each transaction to keep them from being linked to a common owner. Some linking is still unavoidable with multi-input transactions, which necessarily reveal that their inputs were owned by the same owner. The risk is that if the owner of a key is revealed, linking could reveal other transactions that belonged to the same owner.

CALCULATION

The race between the honest chain and an attacker chain can be characterized as a Binomial Random Walk. The success event is the honest chain being extended by one block, increasing its lead by +1, and the failure event is the attacker's chain being extended by one block, reducing the gap by -1.

We consider the scenario of an attacker trying to generate an alternate chain faster than the honest chain. Even if this is accomplished, it does not throw the system open to arbitrary changes, such as creating value out of thin air or taking money that never belonged to the attacker. Nodes are not going to accept an invalid transaction as payment, and honest nodes will never accept a block containing them.

FUTURE OF ALPHARD COIN

Improving privacy across the board is an important factor for any transaction. One of the first improvements to be implemented post-fork is the new sapling, termed “Jubjub,” currently under development by the Zcash core development team.16 This new sapling will allow for a significant improvement in the speed and user-friendliness of shielded transactions for zk-SNARKs privacy coins.

After the proper coding for improvements has been finished, the miners are asked to signal readiness to accept the chain code change. When 95% of miners accept the change, it becomes “locked in” and the soft fork is completed. However, if the miners do not signal readiness within the specified time period, the soft fork will fail, and no changes will take place. Support and development of the Alphard Private project will rely on continued treasury fund collection in a manner other than mining pool donations. However, the contribution team strongly opposes any sort of imposed taxation on its community without a democratic vote in favor of such. This methodology would free up a significant portion of coins for miners while giving ample time for users to claim their forked coins. Furthermore, the low percentage of daily removal should prevent any shock to the market cap occurring.

ROADMAP

The launching rate of Alphard Coin is $ 2.48. After two months when the coin will be brought on exchange the value will increase to $5 , and after three months tha rate will be minimum $7. The team of Alphard Coin predict that by 25th June , we will be having our own exchange as Alphard.io which will be an open platform for all cryptocurrencies to register their coin. The first time user as of now who login to buy and sell Bitcoin or Alphard coin through this platform will be given 10% deduction on first time purchase and for every referral they will get 10% deduction on it.

We are targeting December to take  Alphard Coins’ value as $50. January 2019 , our experts predict the coin to touch above $100 during the first phase and during the second phase of January the coin will touch beyond $150.

2020 is going to be the key player for Alphard Coin increasing the value to $300 . Above all the most effective feature in this Aplhard coin is the minimum transaction time that is confined to 8 seconds with the most secured features where we guarantee the security of your coin.

Consumers expect a certain level of convenience when it comes to transferring value in exchange for goods and services, and this is why payment processing on the web has become commonplace. Along with this expectation of convenience, there is an assumed level of privacy that comes with such a transaction. Unfortunately, over the past two decades there have been entities who profit off of creating an online “profile” of a consumer by tracking online credit card transactions. This is incredibly invasive and serves as a large supporting premise for why a consumer would want to transact online with cryptocurrency. Despite the technical design of the most popular cryptocurrency, this privacy can no longer be expected on the blockchain

. However, Alphard coin  could fulfill the privacy needs of consumers via its transaction,potentially playing a major role in peer-to-peer and commercial transfer of digital assets. It offers vendors a tested, secure, and widely adopted cryptocurrency technology with the added benefit of provable anonymity and privacy. The Alphard Coin contribution team has a strong desire to bring the cryptocurrency into mainstream acceptance, allowing for widespread usage. Therefore, a vendor  friendly shielded-transaction service will be released shortly after the new sapling. On top of the standard web vendor use case, mobile wallet platforms could be utilized to store and transfer Alphard coin via transparent and shielded transactions in brick and mortar applications. Furthermore, this same platform could be used by any user and would not be limited to stores.

COMMUNITY DRIVEN PROJECT

Many cryptocurrency projects, whether utility tokens or coins, claim to be community-driven and open source. While this is true to an extent, a core development team typically exists which controls the entire future of the project. Few exceptions exist (e.g. Decred) whereby the community has actual control of the future, however, development teams are still often closed doors. While community members can suggest modifications on the corresponding code, these requests may go unnoticed.

Alphard Coin Private Project represents a true community effort with an opportunity for users around the world to buy and sell tha most economic and volatile coin.

CONCLUSION

Alphard coin is a cryptocurrency developed and maintained by a team of 12 members who are experts in the past ten years of cryptomarket. Team members have collaborated together to make this project a success with a firm belief that the project fulfills Satoshi’s original vision of financial freedom via fast, low-fee, decentralized, and private 11 transactions. Alphard Coin Project forecasts forward-thinking inclusion of the BIP9 soft fork proposal will allow for future developments, and an included difficulty bomb will advance alternative governance methodologies should BIP9 prove ineffective. The commercial applications of are numerous: from fast global transactions to purchasing from anywhere ( Except UK, USA & China). This merger of Alphards’ vast, dedicated following and shielded transaction technology of Zclassic will usher in a new era of provable and trustless blockchain privacy.

ACKNOWLEDGMENTS

We would like to acknowledge the  minning community , Bitcoin Private Team, Ethereium and Ripple to be standing as a great inspiration for us while developing this product.  We would also like to thank the our development team for helping to push through many long days and nights; without coffee, this project could not have been possibleFinally, we would like to thank the entire Bitcoin Private community — you are the backbone of this project and we would not be here without you.

REFERENCES:

  1. The Biggest Data Breaches of the 21st Century.

             https://www.csoonline.com/article/2130877/data-breach/the-biggest-data-breaches-of- the21st-century.html (Accessed Feb. 6, 2018).

  1. What Chase and Other Banks won’t Tell you about Selling your Data. https://www.forbes.com/sites/adamtanner/2013/10/17/what-chase-and-other-banks-wont-tellyou-about-selling-your-data/#5eacaaf62c41 (Accessed Feb. 5, 2018).
  2. Santander Totta has no Known Legal Basis to Block Bitcoin Related Transactions says Portuguese Consume Watchdog. https://www.ccn.com/santander-totta-has-no-known-legalbasis-to-block-bitcoin-related-transactions-says-portuguese-consumer-watchdog/ (Accessed Feb. 5, 2018).
  3. Nakamoto S.; (2008) Bitcoin: A peer-to-peer electronic cash system.
  4. List of Cryptocurrencies. https://cryptocurrencyfacts.com/list-of-cryptocurrencies/ (Accessed Feb. 5, 2018).
  5. Premine Endowment. https://bitcoingold.org/premine-endowment/ (Accessed Feb. 2, 2018)

8 Brandeis, L.; Warren, S.; (1890) The Right to Privacy.