What is Superior Coin
Superior Coin is a secure, private, untraceable currency. Unlike many crypto currencies that are derivatives of Bitcoin, Superior Coin is based on the CryptoNote protocol and possesses significant algorithmic differences relating to blockchain obfuscation.
Superior Coins main emission curve will have issued about 1.5 billion coins to be mined in over 30+ years.
Superior Coin protects privacy in three ways for all transactions on the network: 1 ring signatures hide the sending address, 2 RingCT hides the amount of the transaction, and 3 stealth addresses hide the receiving address of the transaction.
Superior Coin daemon uses the original CryptoNote protocol except for the initial changes (as the block time and emission speed). The protocol itself is based on "one-time ring signatures" and stealth addresses. The underlying cryptography is essentially Daniel J. Bernstein's library for Ed25519, which is Schnorr signatures on the Twisted Edwards curve. The end result is passive, decentralised mixing based on heavily-tested algorithms.
However, several improvements were made which covered the proper use of ring signatures for better privacy. Specifically, "a protocol-level network-wide minimum mix-in policy of n = 2 foreign outputs per ring signature", "a nonuniform transaction output selection method for ring generation" and "a torrent-style method of sending Superior Coin outputs".
Superior Coin features an opaque blockchain (with an explicit allowance system called the viewkey), in sharp contrast with transparent blockchain used by any other cryptocurrency not based on CryptoNote. Thus, Superior Coin is said to be "private, optionally transparent". On top of very strong privacy by default, such a system permits net neutrality on the blockchain (miners cannot become censors, since they do not know where the transaction goes or what it contains) while still permitting auditing when desired (for instance, tax audit or public display of the finances of an NGO) Furthermore, Superior Coin is considered by many to offer truly fungible coins. In Short giving your view key can allow some one to view your transactions with out being able to access your coins.
Superior Coin is powered strictly by Proof of Work, but specifically, it employs a mining algorithm that has the potential to be efficiently tasked to billions of existing devices (any modern x86 CPU).] Superior Coin uses the CryptoNight Proof of Work (PoW) algorithm, which is designed for use in ordinary CPUs.
The smart mining forthcoming feature will allow transparent CPU mining on the user's computer, far from the de facto centralization of mining farms and pool mining, pursuing Satoshi Nakamoto's original vision of a true P2P currency.
Superior Coin has no hardcoded limit, which means it doesn't have a 1 MB block size limitation preventing scalability. However, a block reward penalty mechanism is built into the protocol to avoid a too excessive block size increase: The new block's size (NBS) is compared to the median size M100 of the last 100 blocks. If NBS>M100, the block reward gets reduced in quadratic dependency of how much NBS exceeds M100. E.g. if NBS is [10%, 50%, 80%, 100%] greater than M100, the nominal block reward gets reduced by [1%, 25%, 64%, 100%]. Generally, blocks greater than 2*M100 are not allowed, and blocks <= 60kB are always free of any block reward penalties.