Mobile coin is a cryptocurrency that aims to provide fast, secure, and private payments on mobile devices. It was launched in 2017 by MobileCoin Inc., a company based in San Francisco, California. The project is backed by notable figures such as Moxie Marlinspike, the creator of Signal messenger, and Brian Acton, the co-founder of WhatsApp.
Mob coin uses a consensus protocol called Stellar Consensus Protocol (SCP), which allows for fast and scalable transactions without sacrificing security. SCP is based on the concept of federated Byzantine agreement, which means that each node in the network can choose its own set of trusted peers to validate transactions. This way, the network can reach consensus without relying on a central authority or a fixed set of validators.
Mob coin also leverages ring signatures and stealth addresses to ensure the privacy of its users. Ring signatures are a cryptographic technique that allows a sender to sign a transaction with a group of other users, making it impossible to trace the origin of the transaction. Stealth addresses are a way of generating one-time addresses for each transaction, making it impossible to link the sender and the receiver.
Mob coin is designed to be integrated into messaging apps, such as Signal, Telegram, and WhatsApp. Users can send and receive mob coins within the app, without having to leave the chat interface. The process is simple and intuitive: users just need to enter a PIN code to authorize a payment. The app handles the encryption and decryption of the transaction data, as well as the key recovery and backup.
Mob coin is one of the first cryptocurrencies to claim a negative carbon footprint, meaning that it offsets more carbon emissions than it produces. The project achieves this by using renewable energy sources, such as solar and wind power, to run its nodes and validators. It also supports various environmental initiatives, such as planting trees and restoring habitats.
