TORCOIN - (TOR)

Protect your privacy. Defend yourself against network surveillance and traffic analysis. Torcoin is an anonymous cryptocurrency that utilizes the X11 Proof-Of-Work (PoW) consensus to allow miners to power the network of Torcoin. It is fully integrated with the Tor network.

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WHAT IS TOR?

TOR is a decentralized open-source (OSI) network that enables people around the world to use the Internet anonymously, by routing IP address information through multiple nodes on the network. TOR helps users defend against traffic analysis — a form of network surveillance which threatens personal freedom and privacy, confidential business activities, relationships, and even national security.

WHO USES TOR?

Anyone who is concerned about online privacy uses TOR, ranging from activists, drug dealers, businessmen and government agents. Anyone can use TOR to preserve their anonymity and security regardless of politics, religion, morality, nationality and otherwise.

WHAT IS TORCOIN?

Torcoin is a cryptocurrency similar to Bitcoin featuring numerous improvements and innovations, such as — full integration with the TOR network, stealth sending technology, and complete anonymity.

WHY USE TORCOIN?

Torcoin offers several important features that Bitcoin does not. First, TorCoin rewards people for running a TOR node. Whereas Bitcoin transactions are completely traceable, Torcoin enables you to send coins anonymously. There is never any need to 'mix' or 'anonymize' your Torcoin — they are anonymous by default. TOR is fully integrated with Torcoin, which means that a snoop or attacker watching your internet connection will not know if you are using Torcoin and other Torcoin users cannot determine the physical location of your Torcoin node. Torcoin also offers encrypted end-to-end messaging between Torcoin users.

There are also five more big reasons why use Torcoin:

  • Completely Untraceable No one will ever know you are running a Torcoin node - your real IP is never broadcast to the network because Torcoin runs over TOR.
  • Anonymous Payments
 Using stealth addresses, Torcoin payments are completely anonymous and untraceable by attackers, government agencies or anyone else.
  • Fast Confirmation Times Torcoin provides extremely rapid confirmation times, meaning you can send and receive funds almost instantly, without the slow confirmation times of Bitcoin.
  • Encrypted End-to-end Messaging You can send encrypted end-to-end messages to other Torcoin users.
  • Helping the TOR Network
 By running Torcoin, you are increasing the number of nodes on the TOR network, thereby helping people across the world remain anonymous.

HOW ANONYMOUS IS TORCOIN?

It is the most anonymous cryptocurrency that has been developed. Due to the fact that TOR is integrated with Torcoin, all Torcoin nodes are completely anonymous; no one will ever know that you are running a Torcoin node, or trace your location. Torcoin protects you by re-routing your connection to other Torcoin nodes running TOR.

WHAT CONSENSUS ALGORITHM DOES TORCOIN USE?

Like Bitcoin, Torcoin uses Proof-of-Work. However, unlike Bitcoin it is configured to transition to Proof-of-Stake (PoS) after two years, when small numbers of coins will be issued yearly for staking. Staking will be 5% per year. The advantage of transitioning to Proof-of-Stake is to avoid the centralized mining pools that may eventually threaten Bitcoin with a 51% attack. Most Bitcoin mining has been centralized in China, which is not necessarily a good thing for the currency. Proof-of-Stake (PoS) is known to discourage centralized mining pools.

HOW MANY COINS WILL BE CREATED?

Twelve million coins will be created during the two-years Proof-of-Work phase, with small emissions of coins issued thereafter for staking purposes. The total number of coins will be less than Bitcoin and significantly less than Ethereum.

IS TORCOIN A PREMINE OR AN INSTAMINE?

We created the genesis block with approximately 10% of all coins to be issued, which is approximately 1.2 million. Whether this qualifies as a 'pre-mine' is up to interpretation. Bitcoin was 'instamined' to the tune of 1 million Bitcoins, while Ethereum was 'pre-sold' in a huge crowdfunding effort at almost 20% of its total issuance. Dash was instamined for 1.9 million coins (27% of the current supply!), although its creator calls it an 'accident' rather than an 'instamine.' Call it whatever you want, but we think allocating 10% of the coins to the creator will be good for the coin for the following reasons:

  • A. The creator has an incentive to push for the coin's success. If the creator had no coins, he may abandon the project entirely.
  • B. The creator has an incentive and financial ability to pay a development team to continue working on the software.
  • C. The creator has the option of 'staking' exchanges to list the coin; essentially offering them a fair amount of Torcoin to list coin on their exchange. Getting a coin listed on multiple exchanges is the key to the coin success.
  • D. As the coin rises in value, the creator has the financial ability to fund projects related to market expansion for the coin, such as creating exchanges or funding startups.

IS TORCOIN A SCAMCOIN OR PUMP AND DUMP?

No. We strongly believe in anonymity and have developed this coin to help bolster the TOR network by creating more nodes and increasing anonymity in the cryptocurrency space thereby enabling people to send coins anonymously. While we hope Torcoin rises in value, we are in it for the long haul with Torcoin and have no desire to dump large amounts of the coin on the market.

WHO CREATED TORCOIN?

God. Aliens. Elvis Presley. Who cares? Torcoin is open-sourced and de-centralized; the creator is already irrelevant.

TECHNICAL INFO

Torcoin is a hybrid cryptocurrency utilizing the X11 hashing algorithm (11 rounds of different hashing functions) with the Proof-Of-Work consensus, transitioning to Proof-Of-Stake after 2 years. Torcoin provides full Tor integration with the Tor Onion network. Stealth addresses are available for the anonymous sending of currency through the network. Encrypted messaging is also available on Torcoin, enabling users to send encrypted messages to other Torcoin users. A total of 12 million TOR will be created before the Proof-Of-Work phase ends and Proof-Of-Stake begins. During the Proof-of-Stake phase, small emissions of coins will be issued each year for the purposes of staking. Staking will be 5% per year. Block Times in the Torcoin network occur at 60 second intervals. The Block Reward schedule is set to halve every 6 months from the start with a reward of 1 TOR per block.

 

 

 

   Download Torcoin!

Important TorCoin Info

Latest Releases

Download the latest version of TorCoin

Download the fully TOR-integrated linux version here
This will create a Tor node, so make sure that Tor is legal in your country before using

Buy or Sell TorCoin?

Torcoin Price & Market Cap

Torcoin Price on CoinMarketCap: CoinMarketCap Torcoin,
10-days charts and orderbook from C-Cex

Accept TorCoin On Your Website For Payments!

You can accept Torcoin on your website using CoinPayments. Plugins are available for almost any shopping cart.

Torcoin Block Explorer

There is a Torcoin block explorer here: https://chainz.cryptoid.info/tor/.
Total coins in Circulation: https://chainz.cryptoid.info/tor/api.dws?q=circulating

Torcoin Reddit

Visit the Torcoin subreddit at https://Reddit.com/r/TheTorCoin

Torcoin Faucet

Get FREE TOR! Visit the Torcoin Faucet

Torcoin Bounties and Jobs

We are offering TorCoin bounties and jobs so you can earn some TOR.

Paper Wallet Generator for COLD STORAGE

Paper Wallet Generator Online: Create Paper Wallet

Safer to download the Torcoin Paper Wallet Generator here: https://Torcoin.org/TorcoinPaperWallet.zip

Are You Affiliated With the Tor Project?

Not officially, though we are huge supporters of the Tor Project.

What Happened to the Original TORCOIN?

Your guess is as good as ours. There was a TORCOIN developed in 2013 by some graduate students; the project was soon abandoned. The original TORCOIN contained vulnerabilities and poor coding. The new Torcoin bears no resemblance to its predecessor, nor did we use any of the code from the original Torcoin. The 2013 Torcoin is still listed on CoinMarketcap, but it has zero trade volume, a market cap of 9 BTC, and completely outdated code; the project was entirely abandoned. We intend to get our new Torcoin listed and the old Torcoin fully de-listed.

DOES TORCOIN OFFER END-TO-END ENCRYPTED MESSAGING?

Yes! With Torcoin, users can send encrypted end-to-end messages to other Torcoin users.

WILL TORCOIN COMPETE WITH BITCOIN?

We believe Bitcoin to be the GOLD STANDARD of cryptocurrency, just as gold is literally — the gold standard of metals. Silver, Palladium and Platinum all have value — they just don't have as much value as gold. Bitcoin is the crypto against which all other cryptos should be and will always be measured. Torcoin is not intended to 'compete' with Bitcoin, but Torcoin offers certain features that Bitcoin notably lacks, such as integration with TOR, encrypted end-to-end messaging between Torcoin users, untraceable payments and fast confirmation times. We hope Torcoin becomes a useful cryptocurrency for those concerned about personal privacy online. Due to its native anonymity, Torcoin offers better alternative than Bitcoin for many activities.

WILL TORCOIN PROVE VULNERABLE TO 51% ATTACKS OR CENTRALIZED MINING POOLS?

We hope not. This is due to the fact that Torcoin will transition to a Proof-of-Stake (PoS) consensus after two years, centralization of mining will be less appealing, and 51% attacks will therefore prove more challenging. Mining centralization and the potential for 51% attacks are a major weakness of Bitcoin's Proof-of-Work consensus model, which has led to centralization of mining in China (due to bottoming electricity costs) and even the mining company Ghash.io controlling more than 51% of mining for a brief moment, sparking fears of an attack.

WHAT SETS TORCOIN APART FROM OTHER CRYPTOS?

Unlike most other cryptos (excluding Monero and a few others), Torcoin offers a complete anonymous sending. Apart from all other cryptos, Torcoin is fully integrated with TOR and therefore 100% anonymous; an attacker or government snoop can not know whether you are running a Torcoin node or not. Your IP address is never broadcast on Torcoin. Unlike Bitcoin and some of the older currencies, Torcoin offers much faster confirmation times, meaning you can send and receive funds almost instantly. Torcoin is also designed to transition to Proof-of-Stake (PoS) consensus, meaning it will discourage centralized mining pools from cropping up, which is a major problem for Bitcoin and other exclusively proof-of-work (POW) currencies. Torcoin also offers encrypted end-to-end messaging between Torcoin users. finally .. we think the name is just really cool.

FUTURE DEVELOPMENT

The major focus on future developments is the improvement of end-usability of the coin (making it easier for average people to use), smoothly transitioning to Proof of Stake (PoS) (possibly incorporating Serenity/Casper), development of an Android wallet, and improving efficiency of the network online.

IS TORCOIN OPEN SOURCE?

Of course. As you can see on our official GitHub repository.