CodeMason is a (not yet publicly accessible) blockchain platform created by a group of geeks and hosted on Github.
These coding masons reference and absorb existing technology and concepts, transform and reform existing blockchain payment platforms with new ideas, ultimately developing an optimal CodeMason blockchain as well as rebuilding the anonymous payment system.
A master node needs to offer 1024 CMN to CodeMason as collateral. 30% of the block reward is assigned to the master node, 60% is assigned to miners and the remaining 10% is assigned to CodeMason developers each time a block is issued.
Miners constitute the first network tier, providing users with fund transfer services and preventing double-spending, while the master node constitutes the second network tier to support an outstanding level of performance.
Mining and master nodes
As with bitcoins and other cryptocurrencies, CodeMason is based on the distributed ledger that contains all transactions. These ledgers are also called blockchains. CodeMason and bitcoin blockchains are safeguarded thanks to the existence of the consensus model known as Proof-of-Work (PoW).
Miners solve difficult challenges using special equipment and have the ability to add new blocks to the blockchain after these challenges are resolved. If other users running software believe these challenges have been properly resolved, new blocks will be added to the blockchain and miners will also be rewarded with blocks. The master node does not get involved in mining activities, so mining equipment cannot act as the master node.
CodeMason has the same life cycle as that of bitcoin and uses a CPU at the beginning of mining. However, as the number of users increases, protection for node security and data on the chain must be gradually enhanced. Upon completion of the CPU mining cycle, a miner that contains an X12 algorithm will be developed using the high computing power of miners in order to ensure tamper-proof data security.
Mining and supply
CodeMason employs a different approach to reduce inflation production, reducing production by 15% each time, which differs from other halved cryptocurrencies. Moreover, the supply of each block is directly related to the number of miners across the entire network — the more miners involved, the lower the mining reward. CodeMason’s digging will run from this century until the middle of the next, with mining to end by 2150.
Anonymity and coin join
CodeMason aims to develop a blockchain network of completely private transactions that allows for completely anonymous cryptocurrency transactions while also supporting widely-used non-anonymous transactions.
CodeMason advocates for “coin join”. The principle of coin join is that many accounts participate in the transaction, which contains more than one account in a “pool” of a large number of buying and selling, but it is difficult to find in the buying and selling one-to-one mapping relationship, buying and selling is fragmented, so no one can find out another account from one account.
The advantage of coin join is that the solution is simple and easy to implement. And because of the concise logic flow, errors are less likely to occur during processing. “Existence is reasonable”. At present, coin join has been widely used in some blockchains, which is enough to illustrate the importance of the privacy processing of digital currencies.
In order to ensure the CodeMason blockchain’s stability, it is necessary to establish multiple nodes and form a miner alliance. CodeMason’s volunteer miners are hereby recruited. As a CodeMason volunteer miner, you can participate in the CodeMason blockchain initial mining.
The Mason Guild is responsible for the recruitment and selection of miners. In order to determine the level and scope of the miners, the miners need to answer the following questions. The Mason Guild will select the miners based on the results submitted, and finally, select the miners who meet the requirements of The Mason Guild.
We have already started mining. A large number of miners have taken the initiative to join us. Don’t fall behind, join in!
To apply, email your answers to CodeMasonMining@protonmail.com