Karbovanets — is electronic cash, Ukrainian national cryptocurrency, just like Bitcoin but anonymous thanks to Cryptonote technology. The karbovanets has been a distinct unit of currency in Ukraine during three separate periods. Nowadays it is obsolete and replaced by Ukrainian Hryvnia. It is resurrected in digital form of cryptocurrency as people's electronic cash not connected to government or officials. No one owns or controls Karbovanets. Only you control your funds and are responsible for their security. You can send and receive Karbos without any intermediaries and authorities — everything works in decentralized and distributed computer network. You can earn Karbos as a reward for securing network providing your PC's recources.
Payments in Karbovanets are untraceable and unlinkable. Karbovanets provides complete anonymity and privacy using cryptographic technology ring signature. All transactions signed on behalf of a group so that it is impossible to determine who exactly from the the group signed transaction and, accordingly, one can not say with certainty who carried out the payment. The more participants in the group, the more confidential operation is. In addition, the transactions can not be associated, – even if outgoing transactions are untraceable, everyone may still be able to see the payments you have received. However, by using a variation of the Diffie-Hellman exchange protocol, a receiver has multiple unique one-time addresses derived from his single public key. After funds are sent to these addresses they can only be redeemed by the receiver and it would be impossible to cross-link these payments.
Unique one-time addresses and ring signatures of transactions are providing resistance to blockchain analysis. Every transaction only increases entropy and creates additional obstacles for those who wish to dig into financial operations with Karbos.
Resistance to the analysis, in turn, provides a very important characteristic inherent in real money, – fungibility. Fungibility of money means that all coins of one denomination have the same purchasing power.
The key difference and advantage over Bitcoin – is fungibility. All the Karbos are interchangeable and uniform unlike Bitcoins. It is because in Bitcoin everyone can at any time view all transactions on the accounts of any and all participants and see how many Bitcoins is at the balance of an address. This can lead to censorship of the assets of people, bringing that some Bitcoins will be "worse" than the rest of the Bitcoins in the system. For example, the seller may not want to accept those Bitcoins because they supposedly used for any suspicious transactions by the previous owner, or have been stolen and so on. Using Karbovanets you have complete privacy, independence and freedom, as if you used cash.
Karbovanets – it is egalitarian decentralized system, where value of the coins is based solely on supply and demand in the market, emission depends on constant mathematical algorithm, where everyone can participate in emissions of Karbos, getting them as a reward for the resources of his ordinary computer provided to support the system work. For mining expensive specialized equipment (ASIC) is not required, just a regular PC. Karbo is the real electronic cash for Ukraine.
Command line wallet and wallet for e-commerce
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