… and Solved Its Challenges
“The network is robust in its unstructured simplicity. Nodes work all at once with little coordination. They do not need to be identified, since messages are not routed to any particular place and only need to be delivered on a best effort basis.” — Satoshi Nakamoto, Bitcoin Whitepaper
ArQmA, aka Anonymous Real Mastery of Algorithms, is an open-source cryptocurrency project launched in 2018 and is primarily based on Monero’s source code. The project launched its own ARQ coin, which is a currency coin that aims and is strategically aligned to become a globally used crypto asset for payments of products and services.
At first, ARQMA seemed similar to numerous other cryptocurrencies projects out there. However, while I was reading more about ArQmA, I encountered something that showcased how the project sets itself apart from its competitors by understanding the blockchain differently.
It was interesting to note that while many emerging cryptocurrencies use source codes of other projects, ArQmA had its own screening and testing process aimed at improving the source code.
This enabled the team behind this relatively new crypto asset to find some serious loopholes and issues with Monero’s code that caused the project numerous problems.
“Nodes can leave and rejoin the network at will, accepting the proof-of-work chain as proof of what happened while they were gone.” — Satoshi Nakamoto, Bitcoin Whitepaper
The Challenge Of Monero’s Source Code
In 2018, the same year in which ArQmA was launched, Monero encountered an issue known as the double deposit bug, a variant of the double-spend bug.
In a double-spend bug, the hackers can make it look like the same currency has been spent twice. On the other hand, in a double-deposit bug, the hackers can repeatedly deposit the same cryptocurrencies in an account.
This major flaw can result in enormous damage to exchanges because real funds can be easily stolen if a determined hacker decides to exploit this flaw with a strategically planned attack.
“The incentive can also be funded with transaction fees. If the output value of a transaction is less than its input value, the difference is a transaction fee that is added to the incentive value of the block containing the transaction.” — Satoshi Nakamoto, Bitcoin Whitepaper
How ArQmA Solves It?
ArQmA’s policy of testing the code wherever necessary on a stagenet or testnet resulted in them identifying this critical issue with Monero’s source code and thus helped them solve it.
By leveraging the ethical disclosure policy, ArQmA escalated this issue to the developers of Monero, and due to this, numerous exchanges were saved from potential damages within a few days.
“Once a predetermined number of coins have entered circulation, the incentive can transition entirely to transaction fees and be completely inflation free.” — Satoshi Nakamoto, Bitcoin Whitepaper
ArQmA’s team includes diverse cryptography-savvy developers who understand the intricacies of blockchain coding, and their due diligence helped solve an issue that not only Monero faced but also an issue that emerging crypto projects might face.
This is merely one case study that depicts how Monero is actually delving deep into the blockchain aspects and succeeding at solving challenges that numerous cryptocurrency projects face.
This way, ARQMA’s vision of becoming one of the most significant currencies worldwide seems like a realistic goal. In fact, it can only be fulfilled if the cryptocurrency continues to evolve and set itself apart from blockchain competitors by merely giving users a better quality product written by default into the code.
“If a greedy attacker is able to assemble more CPU power than all the honest nodes, he would have to choose between using it to defraud people by stealing back his payments or using it to generate new coins. He ought to find it more profitable to play by the rules, such rules that favor him with more new coins than everyone else combined, than to undermine the system and the validity of his own wealth.” — Satoshi Nakamoto, Bitcoin Whitepaper
ArQmA is a completely new and unique CryptoNote-Lite blockchain!
- PoW algrithm: RandomX; RandomARQ
- Max supply: ~50 million
- Block reward: ~20 smoothly varying
- Block time: 120 seconds
- Difficulty: retargets at every block
- Block confirmation: 18 blocks
- Properly set 1MB Scratchpad to eliminate time-waste hashing by trying to divide into a 2MB Scratchpad like other projects had done
- Asic resistance : Yes
- Nicehash resistance: Yes
- BulletProof RingCT
- LWMA Difficulty Algorithm securing network against 51% HashAttacks
- Ticker: ARQ
- Emission rate planned on 30 years
To join TEAM ARQMA please follow the links provided below. We look forward to welcoming you to our friendly wide ranging community of blockchain crypto coin CryptoMining Staking ARQNodes enthusiasts!
Helpful Arqma Links
Arqma Official Website: https://www.arqma.com
Arqma CLI wallet Github: https://github.com/arqma/arqma
Arqma GUI wallet Github: https://github.com/arqma/arqma-electron-wallet
Android Wallet: https://play.google.com/store/apps/details?id=com.arqma.Droid
Arqma Community Pages: https://arqma.github.io
Official Block Explorer: https://explorer.arqma.com
Official Twitter: https://twitter.com/ArQmA_Network
Community Twitter: https://twitter.com/CommunityArq
Discord Link: https://discord.gg/s9BQpJT
Medium Link: https://medium.com/@ArQmANetwork
Medium Community Link: https://medium.com/@arqmacommunity
Telegram Link: https://t.me/joinchat/HNpOMRIiNSoCn0zYrAOofw
Reddit Link: https://www.reddit.com/r/arqma
YouTube Channel: https://www.youtube.com/channel/UC24ZbH8J1SKpxmdakIJotoA
Matrix Chat link: #ArQmA:matrix.org
Bitcointalk Thread: https://bitcointalk.org/index.php?topic=4474605.0
Current Mining Pool List: https://miningpoolstats.stream/arqma
Woocommerce plugin: https://github.com/arqma/arqma-payments-woocommerce-gateway
Offline Wallet Generator: https://generate.arqma.com
Arqma Logos and Images: https://github.com/arqma/arqma-logo
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