CryptoNote is an
application layer
An application layer is an abstraction layer that specifies the shared communication protocols and interface methods used by hosts in a communications network. An ''application layer'' abstraction is specified in both the Internet Protocol Su ...
protocol designed for use with
cryptocurrencies
A cryptocurrency (colloquially crypto) is a digital currency designed to work through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it.
Individual coin ownership records ...
that aims to solve specific problems identified in
Bitcoin
Bitcoin (abbreviation: BTC; Currency symbol, sign: ₿) is the first Decentralized application, decentralized cryptocurrency. Based on a free-market ideology, bitcoin was invented in 2008 when an unknown entity published a white paper under ...
.
The protocol powers several decentralized privacy-oriented cryptocurrencies, including
Monero, Zano,
and
Safex Cash.
Nothing is known about the original author of CryptoNote, "Nicolas van Saberhagen." Its mathematical component and motivation are described in the article "CryptoNote Whitepaper", released in two editions: in 2012 and in 2013.
Launched in the summer of 2012, Bytecoin was the first cryptocurrency to use this technology. Later, several teams launched their networks, based on the Bytecoin code. Andrey Sabelnikov, one of the creators of the CryptoNote codebase, launched Boolberry after his career at Bytecoin, which later became the foundation for Zano.
Emission
Just like in Bitcoin, miners are rewarded for finding solutions. But the stepped release curve characteristic of Bitcoin has been replaced with a smooth one in CryptoNote: the reward decreases with each block.
One implementation of the CryptoNote protocol has resulted in a non-smooth emission curve, specifically, the S-curve of the
Safex Blockchain, which was designed to match the
Diffusion of Innovations
Diffusion of innovations is a theory that seeks to explain how, why, and at what rate new ideas and technology spread. The theory was popularized by Everett Rogers in his book ''Diffusion of Innovations'', first published in 1962. Rogers argue ...
technology adoption curve theory.
See also
*
Monero (cryptocurrency)
References
Application layer protocols
Cryptocurrencies
Digital currencies
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