Signal adds a payments feature with a privacy-focused cryptocurrency
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Re: Signal adds a payments feature with a privacy-focused cryptocurrency
#2Hi!
I'm the CEO of MobileCoin. If anyone has any questions please feel free to ask here. We've been working on this project for four years and it has been a labor of love. There's a lot of new technology here.
We exist in a highly regulated space so it's possible some questions will require reaching out to lawyers to make sure we answer them in a way that's compliant so please don't feel offended if a response takes a while to come back.
The best set of docs for how the whole thing fits together is our book "The Mechanics of MobileCoin"[0].
We'll be around here and on our forums [1] to answer questions. Please also check out our foundation website[2]. The github[3] is also a lot of fun, especially the section on Fog[4].
[0]https://github.com/UkoeHB/Mechanics-of-MobileCoin/blob/maste...
[1]https://community.mobilecoin.foundation
[2]https://mobilecoin.foundation
Re: Signal adds a payments feature with a privacy-focused cryptocurrency
#3What's the consensus function you use on the mobile coin blockchain. Couldn't see if it's proof of work or proof of stake.
Re: Signal adds a payments feature with a privacy-focused cryptocurrency
#4What's the consensus function you use on the mobile coin blockchain. Couldn't see if it's proof of work or proof of stake.
We use a modified version of the Stellar Consensus Protocol that we reimplemented from scratch using Rust.
https://github.com/UkoeHB/Mechanics-of-MobileCoin/blob/maste... << Page 81 is where you want to go.
Re: Signal adds a payments feature with a privacy-focused cryptocurrency
#5MobileCoin looks fantastic! Seems to solve the major pain points of Bitcoin: fast transactions, low transaction fees, private and no massive environmental impact with mining. Any ETA on when this will come to the USA?
Re: Signal adds a payments feature with a privacy-focused cryptocurrency
#6What's the consensus function you use on the mobile coin blockchain. Couldn't see if it's proof of work or proof of stake.
We use a modified version of the Stellar Consensus Protocol that we reimplemented from scratch using Rust. https://github.com/UkoeHB/Mechanics-of-MobileCoin/blob/maste... << Page 81 is where you want to go.
Were there things that you didn't like about Stellar?
Or did you modify it to fit a different use case?
(thanks for answering questions!)
Re: Signal adds a payments feature with a privacy-focused cryptocurrency
#7What are the KYC requirements? I'm going to assume that it's none, since it's privacy focused
Re: Signal adds a payments feature with a privacy-focused cryptocurrency
#8Is your backend open source, or not?
Haven’t seen the git updated in a while.
Re: Signal adds a payments feature with a privacy-focused cryptocurrency
#9The UK already has faster payments in all major banks. I can send and receive money instantly from app or Web. Will yours be as fast as that?
The UK has a problem with authorised push payment fraud. Banks can recover funds which have been sent as a result of phishing / fraud. How can I reverse a payment on your platform if it was fraudulent?
The UK also has receiver verification. If I try to send to an account and it doesn't match the name I'm sending to, my bank will warn me. How do you stop impersonation?
There's no cost to sending payments on most mainstream banks. How much do you charge?
Most banks let the user block receiving payments from specific accounts. How do you stop harassers sending unwanted money?
Thanks!
Re: Signal adds a payments feature with a privacy-focused cryptocurrency
#10I really wish Signal had stable voice and video calls before it added this blockchain thing.