Features

Major Features of the Nucleon Blockchain, including Masternodes

Developer Note: You will not be required to use third-party software such as Python and/or Sentinel, to run a Nucleon Masternode. Nucleon is the first coin to feature Internal Sentinel, which is hardcoded into the wallet and automatically run and will be fully configured for you.. inside the wallet!
Quick Coin Specs
  • 8 minute block time with 2MB blocks
  • X11 Mining Algorithm (CPU/GPU/ASIC)
  • Instant transactions using InstantSend
  • Decentralized second-tier masternode network
  • VRX/Velocity difficulty adjustment algorithm
  • Superior transaction anonymity using PrivateSend
Scroll down for more information on Masternodes and other features of the Nucleon wallet!

Masternodes

In addition to traditional Proof of Work (PoW) rewards for mining Nucleon, users are also rewarded for running and maintaining special servers called masternodes. Thanks to this innovative two tier network, Nucleon can offer innovative features in a trustless and decentralized way. Masternodes are used to power PrivateSend, InstantSend, and the governance and treasury system. Users are rewarded for running masternodes: 90% of the block reward is allocated to pay the masternode network. Masternodes are resposible for processing both PrivateSend and InstantSend. Masternode owners must have possession of 100,000,000 Nucleon, which they prove by signing a message and broadcasting to the network. Those coins can be moved at any time, but moving them will cause the masternode to fall out of queue and stop earning rewards. Masternode users are also given voting rights on proposals. Each masternode has one vote and this vote can be used on budget proposals or important decisions that affect Nucleon. Masternodes cost money and effort to host so they are paid a percentage of the block reward as an incentive, which is 90% of the Block Reward



PrivateSend

PrivateSend gives you true financial privacy by obscuring the origins of your funds. All the Nucleon in your wallet is comprised of different inputs, which you can think of as separate, discrete coins. PrivateSend uses an innovative process to mix your inputs with the inputs of two other people, without having your coins ever leave your wallet. You retain control of your money at all times

Process
  1. PrivateSend begins by breaking your transaction inputs down into standard denominations. These denominations are 0.01 NEON, 0.1 NEON, 1 NEON and 10 NEON – much like the paper money you use every day
  2. Your wallet then sends requests to specially configured software nodes on the network, called “masternodes”. These masternodes are informed then that you are interested in mixing a certain denomination. No identifiable information is sent to the masternodes, so they never know “who” you are
  3. When two other people send similar messages, indicating that they wish to mix the same denomination, a mixing session begins. The masternode mixes up the inputs and instructs all three users’ wallets to pay the now-transformed input back to themselves. Your wallet pays that denomination directly to itself, but in a different address (called a change address)
  4. In order to fully obscure your funds, your wallet must repeat this process a number of times with each denomination. Each time the process is completed, it’s called a “round”. Each round of PrivateSend makes it exponentially more difficult to determine where your funds originated. The user may choose between 2-8 rounds of mixing
  5. This mixing process happens in the background without any intervention on your part. When you wish to make a transaction, your funds will already be anonymized. No additional waiting is required

Note that PrivateSend transactions will be rounded up so that all transaction inputs are spent. Any excess Nucleon will be spent on the transaction fee

IMPORTANT: Your wallet only contains 1000 of these “change addresses”. Every time a mixing event happens, one of your addresses is used up. Once enough of them are used, your wallet must create more addresses. It can only do this, however, if you have automatic backups enabled. Consequently, users who have backups disabled will also have PrivateSend disabled



InstantSend

By using a two-tier network, Nucleon is able to quickly confirm transactions much faster than most other networks. Traditional decentralized cryptocurrencies must wait for certain period of time for enough blocks to pass to ensure that a transaction is both irreversible and not an attempt to double-spend money which has already been spent elsewhere. This process is time-consuming, and may take anywhere from 15 minutes to one hour for the widely accepted number of six blocks to accumulate. Other cryptocurrencies achieve faster transaction confirmation time by centralizing authority on the network to various degrees. Nucleon suffers from neither of these limitations thanks to its second layer network of masternodes. Masternodes can be called upon to form voting quorums to check whether or not a submitted transaction is valid. If it is valid, the masternodes “lock” the inputs for the transaction and broadcast this information to the network, effectively promising that the transaction will be included in subsequently mined blocks and not allowing any other spending of these inputs during the confirmation time period. InstantSend technology will allow for cryptocurrencies such as Nucleon to compete with nearly instantaneous transaction systems such as credit cards for point-of-sale situations while not relying on a centralized authority. Widespread vendor acceptance of Nucleon and InstantSend could revolutionize cryptocurrency by shortening the delay in confirmation of transactions from as long as an hour (with Bitcoin) to as little as a few secondsBy using InstantSend, Nucleon is able to compete with other, more mainstream technologies such as credit card and PayPal payments without using a central authority, thus keeping the reality of decentralized financial security a reality