Bringing Privacy and Anonymity to the Arena of Trade and Communication. Loki review
By Rafał - 2019-02-22
Loki is a decentralized blockchain project built with hybird algorithm of PoW and PoS and employed with a layer of Masternodes network to enable new security and privacy features while interacting with the internet. Loki will also enable building of privacy-centric applications on its network such as messaging services, forums, online marketplaces, social media platforms etc. Loki is a fork of monero thus it uses monero’s privacy feature such as ring signature, stealth address and creates a second layer of service nodes for sheer privacy. It was created with the vision to provide a completely anonymous, untraceable, secure and private network for communication as well as trade.
Core Elements of Loki
Ring Signatures:Loki makes use of the ring signature and creates a ring of multiple signers to obfuscate the true sender and make the output transaction history unclear. This makes it nearly impossible for anyone to trace the transaction back to its source and keeps the sender anonymous. Ring signature has been made mandatory for all transaction by Loki and uses a fixed ring size of ten which means that from the ten possible outputs only one is true.
Stealth Addresses:Use of stealth addresses adds an additional layer of security by hiding the identity of sender and receiver and the transaction amount. Stealth addresses enables the senders to create random one-time addresses for every transaction on the behalf of recipient. Therefore, all the receipts payment are sent to unique addresses although he/she would have published only one address making it nearly impossible for anyone to link back the transactions to recipient address. By using stealth addresses, only the sender and the receiver and aware of the transaction, making it anonymous for the rest of the world.
Service Nodes:Masternodes at Loki are referred to as Service nodes which enable most of the network functionality and provide high scalability to its blockchain. It also enables number of unique features such as hosting services, SNApps, lokinet, exit nodes etc. Service nodes provide the Loki network protection against Sybil attacks and enables privacy-centric services. Service node operators are rewarded a portion from block reward for their network support and up-time.
Lokinet:Loki makes use of the Invisible Internet protocol (I2P) and onion routing protocol (Tor) which allows users to form paths through a distributed network and makes the tracing of the transactions to the origin much more difficult by using multiple nodes to obfuscate the destination. This fully decentralized network formed by using onion routing protocol and I2P is termed as ‘Lokinet’. Loki plans on building many features on Lokinet such as ‘Loki messenger’ (a decentralized end-to-end encrypted private messaging application), SNApps (Service Node Applications feature which will allow users to setup and host applications, social media, websites etc on their own servers maintaining full-server and user-side anonymity) exit nodes etc.
TeamSimon Harman is the project lead at Loki and the team is well-diversified consisting of multiple developers, tech lead, operation lead, marketing lead, technical advisor, community managers, performance engineers, etc. Loki has given its team section a very professionalized outlook with a black and white theme. Although Loki is a privacy and anonymity focused project, the team members have no hidden identities (except one). A valid name and a photo has been provided by almost every team member. The role of every team member and links to their LinkedIn and Github can be found just below their names. Considering all the aspects, it can be said that the team is legit and well experienced with a strong background. (For more info, checkout Loki’s team section here https://loki.network/#team-section)
PremineLOKI premine is huge, it is 22.5 mln coins. At premine metrics we can find information that it is 15% of total supply. But there is no total supply so why 15%?
22.5 million is currently 15% of the total supply of Loki, however because of the inflationary tail emission scheme that has been built into the emissions curve, this percentage will diminish over time.Premine report page is made very professional and we can find there a lot of info about premine distribution and presale (59% coins were sold for over $9m USD). This is one of the best examples of how to look like legit.https://loki.network/loki-premine-report