TWISTER decentralized crypto credential system, creating the first wavefield chain USDT stash solution

TWISTER is a decentralized cryptographic credential system (Twister Cash System), which is an on-chain asset transaction hiding system built using blockchain smart contract technology. Users can transfer digital assets into the decentralized cryptographic credential protocol, generate cryptographic credentials, and then transfer the assets to any address through the credentials.

TWISTER decentralized crypto credential system, creating the first wavefield chain USDT stash solution

Blockchain has three familiar features: anonymity, openness and decentralization. But people forget one important thing, “anonymity” and “public transparency” cannot achieve the anonymity on the blockchain, because as long as someone knows your wallet address, then every step of your asset transfer will be watched.

As more and more digital currencies are being used on the ground, let’s imagine a scenario where you are buying clothes in a clothing store and when you show your digital currency wallet to pay, the clerk will also know your address; and both you and the store will be able to know how much balance is in the wallets of both parties through their addresses, and these digital currency addresses can be searched on the main network of its main chain to know the transaction status, account balance, and asset flow status, which will be a huge privacy and security issue in the physical world transactions.

The digital currency USDT is the world’s largest issued stablecoin and the most commonly used digital currency by users, with a daily trading volume of $150 billion. A decentralized blockchain transaction privacy and security solution would appeal to this huge market.

What is TWISTER decentralized cryptographic credential system?

TWISTER is a decentralized cryptographic credential system (Twister Cash System), an on-chain asset transaction anonymity system built using blockchain smart contract technology. Users can transfer digital assets into the decentralized cryptographic credential protocol, generate cryptographic credentials, and then transfer the assets to any address through the credentials.

TWS chooses to develop smart contracts on the wavefield chain without a third-party trust foundation to guarantee the security and privacy of users’ digital assets. The cryptographic credential is an “indefinite bearer electronic credential” that uses “zero-knowledge concise non-interactive knowledge arguments” (zk-SNARK) and a hybrid data structure to guarantee the anonymity of the holder of the promissory note, the privacy of the message transmission, and the privacy of the data structure, so that even big data trackers cannot trace the transaction.

Why TWISTER chooses Wavefield

The Ethernet Gas fee has been high since 2020, even up to 1,331 Gwei (about $44.4) at one point, and the single ERC-20 transfer has rarely been less than $10 in the past year, which not only makes it unacceptable to users, but also highlights the bottleneck of the Ethernet network, limiting many developers to run smart contracts on it.

In contrast, the wave field single transfer fee is less than $1, and the TPS is as high as 2,000, which is far more efficient than Ether. Therefore, compared with Ether, the wave field chain has faster speed, a large number of small transactions, low fees, compatible with Ether’s smart contracts, and the clientele and attributes are more suitable and need to stash services. The next market to rise.

Features of TWISTER

TWISTER has the following functions.

(1) Credential Opening and Credential Collection

The main feature of the TWISTER platform is the decentralized cryptographic credential protocol. When users deposit their digital currency into the TWISTER platform, a set of encrypted cryptographic credentials will be generated, which must be kept by the user, and there is no way to retrieve them if they are lost. To retrieve the digital currency, anyone can use the credentials to collect the digital currency from the TWISTER platform to the specified address.

(2) Invoicing Mining

In order to incentivize users to use TWISTER platform services and create complexity and revenue for the platform, the mechanism of behavioral mining is designed. When a user opens a crypto credential, he/she can receive TWISTER platform coins in that block as a reward, which can be pledged for profit or participate in governance.

(3) Pledging and profit sharing function

Each time you use the TWISTER platform function, you will be charged an additional 0.2% commission on the face value of the credentials, which will be proportionally distributed to all users who pledge TWISTER coins in the spirit of sharing economy, and will be distributed at any time.

(4) User’s own wallet

Users use their own wallets (TronLink Wallet, imToken), no need to download or register additional wallets or exchanges, assets are guaranteed to be safe.

TWISTER upholds the five elements of “security, convenience, privacy, complexity, and incentive” to solve the most core problems of today’s digital currency market, and once these hidden problems are solved, the most profitable will be the users themselves.

TWISTER’s technology

  1. Open credentials

Let a set B = {0, 1} and let e be a pairwise operand in zk-SNARK, which is definable from a finite set of prime q levels.

Let H1: B*→Zp be a Pedersen hash function, and let H2: (Zp, Zp )→Zp be a MiMC function of [AGR+16] (this is a hash function which is quite suitable for zk-SNARK) , this function should conform to the definition of the first type of sponge operation of MiMC in Feistel mode.

Let T be a 20-order Merkle tree (Merkle trees), each node is a H2 function with 2 lower nodes. Its initial value is 0, which will be replaced by Zp asymptotically. Let the function O(T , l) be the total number of all sister nodes between node l and the root node of the Merkle tree T, denoted as R.

We then generate two private keys k ∈ B248 as a nulifier (nullifier, also used in ZK-SNARK anonymous chains such as ZCash) and r ∈ B 248 as a random number key, and we set the receiver’s wavefield chain address to be A. Let the function S[R, h, A, f, t] be the “knowledge” with the following parameter statement.

{the holder knows k, r ∈ B 248, l ∈ B 16, O ∈ , can satisfy h = H1(k) and O is the H2(k||r) of the open distance of the Merkel tree from node l to R. Where R,H,A,f,t is the public information, while k,r is the private information, f is the fee, t is the address of the surrogate taker (if this function is used then it needs to be added ), || is the parallel of two data streams.

Let the function D = (dp, dv) be the proof-verification key pair for S in the zk-SNARK [pGro16] architecture, which is computed in a trustworthy manner. (TWISTER takes a private computing approach on the client computer.) Let Prove(dp, T , k, r, l, A, f, t) → P be the proof function using dp , and Verify (dv P, R, h, A, f, t) be the function for verifying P .

Let C be a smart contract with the following function.

It can store the last n=100 root node values, and the latter Merkle tree T in its operation, also stores all node values from the beginning to the end in order to calculate the next root node value.

It accepts TRX/USDT/TWS currencies and their C ∈ Zp validation information, and the C value is stored in the Merkle tree, while the distance from the newest node to the root node is also recalculated, and the old root node is additionally kept in the history array.

It can verify whether the specified proof function P is (R, h, A, f, t). If the proof passes, the coin corresponding to the address A of the recipient is passed to the value of the voucher denomination N minus the fee f, and the fee f is transmitted directly to the address t of the surrogate (if the surrogate function is used).

It is possible to verify whether a voucher has been collected or not, by checking the nullifer to know if it has been collected to avoid double spend attacks.

The steps for a user to open a voucher are simple.

(1) Generate a set of random random numbers k, r ∈ B 248 at the client side and compute C = H1(k||r).

(2) Transfer the coin/value corresponding to the ticket amount and the computed C value into the smart contract, which will be a 256Bit long integer, and if the Merkle tree is not full, the C value will be added to the bottom of the tree as a new node.

  1. Redeeming Vouchers

To redeem the voucher back to the digital currency, the user needs to go through the following steps.

(1) There must be an address A where the voucher can be redeemed and the face value of the voucher must be greater than the current fee.

(2) The root node R must be found from the root node stored in the smart contract and the open distance O(l) of the Merkle tree must be calculated.

(3) Calculate the nullifier hash h=H1(k).

(4) Compute the proof P (Prove function for the corresponding dp can be called).

(5) Start the retrieval step, which can be done in any of the following ways

(6)

*The digital currency will be sent to the caller’s address.

*If the parameters are passed into the smart contract, the digital currency (N-f) will be deposited in the address of the recipient A, and the fee for f will be sent to the address t of the recipient, and h(nullifer) will be recorded and cannot be collected later.

TWISTER Platform Coin

TWISTER platform coin is based on the Wavefield Chain TRC-20 standard and is called TWISTER CASH (hereafter TWS).

The TWISTER community retains 30% of the output and the TWS mining mechanism produces 70%, without any kind of pre-sales, TWS adopts the same concept as Bitcoin, which halves the issue volume every once in a while, so as to ensure the time advantage of early investors and maintain the deflation model. This means that the community and mining maintain a 3:7 ratio at any point in time to ensure the fairness and stability of the entire TWISTER community.

TWS has the following functions.

(1) Community Governance Function: After a certain number of TWS are issued in the future, holders can vote on relevant governance parameters, including but not limited to coin denomination, number of equity, fees, and profit sharing ratio.

(2) Community Improvement Function: TWISTER platform allows new wavefield chain TRC-20 specification coins on the shelf, the applicant must pay 5% of the total amount of TWS pledged within the TWISTER platform, and after reaching a consensus through community voting, that amount of TWS will be destroyed, and new contracts supporting the new coins can be added, and the TWISTER community can share a certain level of fees for the applicant’s coins, and the related fees will be jointly resolved by the applicant and the TWISTER community.

(3) Revenue sharing function: TWISTER platform charges an additional 0.2% fee per transaction as the revenue of TWISTER platform, this revenue deducts 10% for the development team’s operation, and the remaining 90% is fully allocated to the community coin holders according to the pledge ratio to reward the community participants involved in mining and pledging.

TWS Mining Mechanism

TWS adopts the invoicing mining model, which is a behavioral incentive model. The TWISTER platform will charge an additional 0.2% fee for each invoice, so the more times a user operates the platform, and it will increase the complexity of the data structure. To incentivize users to invoice, TWS platform coins are given as user rebates, and the mining mechanism is as follows.

(1) Block Reward: Every 4,500 wavefield blocks are generated for one settlement unit, called an “Interval”, which is allocated in proportion to the total amount of equity earned by each user during that period.

(2) Period Halving: Every 5,184,000 wavefield block heights are halved, called a Period, with each period estimated to be approximately 6 months, with 50% of the TWS generated in the first period, 25% in the second period, and so on.

(3) Total Equity Calculation: Equity is calculated based on different coins. Equity is equal to Denomination * Weight * Price, and the percentage of equity obtained by the user in that period to the total equity is calculated for each period.

The value of TWS is based on the decentralized crypto credential system service and the 0.2% fee per transaction, and the price of TWS is entirely determined by the market. 10% is used for community promotion, 5% for marketing, and 5% is given to operation and maintenance.

TWISTER Code and Launch

TWISTER will be officially launched in the near future, the official website of TWISTER is http://www.twistercash.org, the smart contract code will be public and fully disclosed after it is uploaded on the chain, you can check it on the Wavefield Blockchain Browser (https://tronscan.org/#/) at that time, and the related code can also be checked at GitLab.

No need to download additional app or software to use TWISTER, all users can operate from this website, you need to download TronLink or a wallet supporting Wavefield chain before using, please refer to the teaching guide in the website for related teaching, both web and mobile support operation.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/twister-decentralized-crypto-credential-system-creating-the-first-wavefield-chain-usdt-stash-solution/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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