Masari (MSR) is a proof of work (PoW) peer-to-peer internet currency based from Monero using the well researched and cryptographically sound RingCT and CryptoNote protocols. This means that every transaction origin, amount, and destination is obfuscated by default.
Masari is an open source project that is fully decentralized without any central authorities, similar to Bitcoin. With several CryptoNote firsts such as uncle mining via the SECOR protocol, a fully client side web wallet, and PoW sharding via the blocktree protocol, Masari is a fast, fungible, secure, private and soon-to-be efficiently scalable currency.
- Name: Masari
- Ticker: MSR
- PoW Algorithm: CryptoNight Fast v2
- Max Supply: About 18.5 million (with tail emission)
- Block Reward Smoothly varying recurrence relation starting at around 35 MSR per block, block_reward(block_height) = (2^64 - 1 - total_supply(block_height - 1)) * 2 ^ -19 * 10 ^ -12
- Block Target Time 60 seconds
- Decimal Places: 8
- Difficulty Adjustment: Re-targets at every block using the LWMA difficulty algorithm
- Genesis Block: Saturday, 2 September 2017 21:20:46 UTC
Masari's network protects privacy in three ways:
- Ring signatures - Enable the sender to hide among other transaction outputs.
- Stealth addresses - Hide the receiving address of transactions.
- RingCT - Hides transaction amounts.
As a consequence, Masari features an opaque blockchain that is private by default, but optionally transparent. Masari has two sets of keys, called a "view key" and a "spend key". The view key can be separately shared to enable optional transparency. However, the system is designed to ease processing on mobile devices, as it is impossible to calculate an accurate wallet balance without a spend key.
Private by default, Masari is a fungible form of currency, meaning that every unit can be substituted by another unit. These units are indistinguishable from one another,making Masari different from public-ledger cryptocurrencies like Bitcoin, where addresses previously associated with undesired activity can be blacklisted and refused by network members.
Uncle mining (SECOR protocol) securely reduces block time to 60 seconds, unlike the common 120 seconds present in most CryptoNote coins. Combined with low fees, your funds will be sent and received quickly and at a fraction of the cost.
Masari uses the LWMA difficulty algorithm to address the issue of flash mining and slow difficulty adjustments in order to keep mining profitable and the network secure.
In addition to reducing block time, SECOR protocol also helps to add more ‘weight’ to the blockchain by rewarding miners who solve orphan blocks, further securing the network and providing additional protection against chainsplits.
The masari web wallet is also fully client side, meaning that users interact directly with the blockchain (as opposed to sending data to an unknown server, as is the case with most web wallets) so users can safely and effectively send money anywhere and anytime.
Currently, CryptoNote coins are unable to scale efficiently due to the inherent default privacy features taking up a big portion of every transaction’s size. Masari’s solution to this problem is blocktree, a method which increases transaction throughput by allowing multiple blocks to be mined in parallel. Utilizing this protocol, the network will be able to retain efficiency under heavier loads as Masari is further supported and used. Blocktree is currently in the works.