Adaptive Limits

In order for a currency to be truly decentralized, it must not depend on a single entities decisions, even if this entity is the developer. Hard constants and magic numbers in the code deter the system's evolution and therefore should be cut down to the minimum. Every crucial limit (such as min fee amount and max block size) PalladiumCoin's difficulty is based upon a sum of all the work that miners have peformed during the previous 720 blocks and divided by the time that they have spent to accomplish it. The measure of work is the corresponding difficulty value for each of the blocks. The time is calculated as follows: sort all the timestamps and cut-off 20% of the outliers. The range of the remaining 600 values is the time which was spent for 80% of the corresponding blocks. And the max block size is 2*XY where XY is the median value of the last Y block sizes. It stops bloating but still allows the limit to slowly grow with the network. Transaction size does not need to be limited explicitly since it is bound to the size of the block.

Ring Signatures

The ordinary digital signature (e.g. (EC)DSA, Schnorr, etc...) verification process uses the public key of the signer. It's a necessary condition, because the signature proves that the author possesses the corresponding secret key. However, this is not always sufficient.

Ring signature is a more sophisticated scheme, which demands several different public keys for verification. In the case of ring signature, we have a group of individuals, each with their own secret and public key. The statement proved by ring signatures is that the signer of a given message is a member of the group. The distinction being that with traditional digital signature schemes the signer needs a single secret key, but a verifier cannot establish the exact identity of the signer. Therefor, if one were to encounter a ring signature with the public keys of 3 entities, you can only claim that one of these 3 entities was the signer but you will not be able to pinpoint which one.

This method is used to ensure that a digital transactions sent to the network is truly untraceable by using the public keys of other members in the ring signature and only one will apply to the transaction. This approach proves that the creator of the transaction is eligible to spend the amount specified but their identity will be indistinguishable from the users whose public keys he used within his ring signatures.

Community Driven

PalladiumCoin is completely community driven! Meaning that if you have an awesome idea for a new feature or absolutely hate a new addition to the codebase or just want to contribute to development, contact the devs at the email in the footer, join the communities discord server, or submit a pull request on github! No change to PalladiumCoin is made without the community having knowledge and without approval! The community comes first!