StableCoin

StableCoin (code: SBC), is a cryptocurrency derived from Litecoin. It was launched June 7th, 2013 and then relaunched November 27th, 2013 after a brief hiatus from the developer. Stablecoin has said to be faster and more secure than any other cryptocurrency due to the revolutionary mixing service
.
Mixing Service
The developer of the coin has stated that Anonymity will be one of StableCoins main goals, and as such a dedicated mixing service will be built in to the coin. It works by using a series of mixing nodes and a dedicated master node. The master node holds onto the mixing private key and master address, which is the place that funds that are to be mixed will be sent to. This is called the master node.
When sending to this address it will be designated as a special type of transaction. All of this will be done through a dedicated mixing tab in the client. These transactions will have an additional data field that stores an obscured version of the address the mixed funds will be sent to. The address is then joined with 80 characters of random data, for privacy purposes. For example:
r7ru5JaNMugN2GK4mrmVmLpSgTXXCWzeL4dGzznV6YWhxq4K2aM7Tcz6VgUNxaLJ7Jzu9fZYmHZmRE4TsajaWXsFiQNbH8bzQygYS1UeXqgTRJZQA7
The resulting string is then encrypted using the public key of the master node. When the master node receives such a transaction, it decrypts it using its private key. The master node then strips the first 80 characters, leaving it with the address (the bold part) to send the mixed funds back to.
When sufficient conditions have been met the master node will create a new set of transactions to send out the now mixed funds. These transactions will be signed, encrypted, and then sent over to another node who's job is to decrypt and broadcast it. All nodes involved will be running on the Tor network. By doing it this way the master nodes location is obscured.
Controversy
In the early versions of StableCoin, as part of the original mixing service there were 1.2 million coins premined to act as the basis of the mixing pool. This caused much anger within the community, with accusations that the money would be used improperly among other things.
However in later versions with an updated mixing service the developer deemed these coins no longer necessary and publicly destroyed them. Initially the 1.2 million mixing service coins were created in the genesis block, which is different than most coins that do their premine in block 1 and onward. This is because of a well documented quirk within BitCoin that makes the genesis block unspendable, due to the BitCoin developer not adding the coinbase transaction from the genesis block to the global transaction database.
To make these funds spendable the StableCoin developer added a simple bit of code during the initialization of the client which adds the genesis transaction to the global transaction database, making it spendable. By later removing this code the genesis block became unspendable again, and the coins are essentially destroyed. This was most eloquent way to accomplish the goal.
This fix was released in version 1.3 onwards of the StableCoin client.
Actively Promoted to Emerging Markets
The second bit is the much anticipated China news. Artos and crew have announced that they are beginning an aggressive marketing campaign worldwide, the first stop being China. This coincided with the launch of the chinese website at anwenbi.com.
Clients
As of January 2013, there are multiple operating systems that is able to run the Stablecoin client to include Microsoft Windows, Mac_OS, and . The source code is also available for you to compile your own.

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See Also

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