Cryptonote – Confidential DLT

The Distributed Ledger Technology used by Lethean is called CryptoNote created by the CryptoNote Foundation it enables confidential distributed ledgers.

This technology is a battle-tested codebase in production by many projects the main project many will know is Monero.

Monero is a project that aims to provide “Privacy” however, this is a misleading sentiment in regards to the code, for that community it is an apt sentiment, one not shared with Lethean as we are a Confidentiality project; I imagine Monero started this as a marketing effort from developers not in tune with the nuances of the English language.

This post explains why this enterprise-friendly technology is not a Privacy technology and is in fact a Confidentiality technology; a sentiment agreed upon by the original CryptoNote inventors.

Users act in private; using CryptoNote Confidentiality. They do not act in Private using non exsistant intrinsic Privacy

Snider – Lethean’s Enterprise Architect

When you analyse the code, the results and thus core qualities of CryptoNote, the system always requires Private keys to transact, encrypt and obfuscate the data held on the DLT this creates a fingerprint on the DLT, and all transactions and users are known cryptographically.

In a CryptoNote system when a transaction is submitted to the network’s memory pool for minting onto the DLT, the system uses the user’s private key to limit access to this transactional data, unlike Bitcoin and other public ledgers, this enables access only to the users that have the rights over that data and stops chain analysis dead in its tracks.

The simple fact is that CryptoNote is a Confidential ledger and in my opinion, one of the only DLT technologies worth Enterprise attention, using this DLT we are able to create secure networking typologies and more; Much more, think of our network as the foundation of a much larger system that will revolutionise B2B operations.

Now, let’s delve into some word definition’s so you can see exactly why CryptoNote is not a privacy chain and never has been.

Privacy – the state of being alone and not watched or interrupted by other people

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Confidentiality – meant to be kept secret and not told to or shared with other people.

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For CryptoNote to be Private, there needs to exist a state where one’s actions are forever hidden from public record, for this to exist in the CryptoNote ecosystem there MUST be no private key; However, like all cryptocurrencies, each user is given a special key (a series of words) to seed the cryptographic functionality of an encrypted wallet file; if a user loses this file at any point they can simply reinstate the same wallet with the seed key; making CryptoNote a confidential network.

If the key is found, or “guessed” in the future with Quantum computing, very likely, the entire history is exposed, meaning a CryptoNote wallet, while encrypted and obfuscated in the public record, can in fact be observed failing the definition of Privacy falling back to Confidentiality.

Encryption keys provide entropy for complex obscurity, otherwise known as “encryption”, in reality, encryption is only mathematically VERY hard and unlikely to be decoded to today’s computational prowess… a modern example of encryption being broken because of computing power exceding the expected abilities is DES and Triple DES.

Hopefully, as a reader, you can see why this is not being pedantic with words, but actually highlighting a gross misrepresentation of a blockchain technology that has huge potential for interpersonal and enterprise-grade usage.

With a Confidential chain and a team who understand how to implement this to enhance today’s computational systems, CryptoNote is the technology enterprise should and will gravitate to.

With Lethean, a business can operate co-operatively without leaking any Bussiness Intelligence to rivals and with this foundation of Confidentiality, we will build upon this a system that no Public ledger can and will deliver.

Lethean’s Layer2 services, with this strong foundation and careful creation, will offer the most exciting opportunities of any Blockchain project, a fact that is known in the industry & our community for some time; our team have quietly been creating inventions upon inventions for future expansion.

We are now at the point where we have viable plans to not only deliver a dVPN but to radically change the paradigm; redefining what a VPN is, at a later stage.

The details of the projects plans are a closely guarded secret, while we establish a presence in the United Kingdom, and register with relevant organisations while continuing to build upon our planned deliverables from secure networking to revamping the core technology of the card payments system; all of which is for another post.

If you have any questions about how Lethean is the confidentiality project worth your attention please join our Discord server and don’t hesitate to contact the team on discord.

For project security, we don’t talk in direct messages past common courtesy, so please do not contact our project leads or custodians online, if you wish to start a conversation please mail our registered office for Lethean LTD.

Lethean LTD
7 Bridge Street
United Kingdom

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