Synergy features

Algorithm: SHA256d
Trading symbol: SNRG
Maximum PoW Coins: 250.001 SNRG

Last PoW block: 4320
Proof-of-Stake: 10 SNRG / block
Block time: 5 minutes

Min / Max stake age: 2 days / 6 days
RPC / P2P ports: 50542 / 40698
Tor: 38155 (configurable with torport=)

Built-in TOR network anonymization

In Synergy, we have provided basic network anonymization functionality by including the Tor service in the wallet. It starts automatically at launch and works in the background without any configuration from the user. We included Tor not only for anonymity, but also because cryptocurrencies that use Tor networks tend to have better connectivities between nodes. This is because Tor acts as a port proxy, allowing nodes to discover each other and stay connected with much greater ease than with standard peer-to-peer routing.

Tor uses encrypted layers of routing information to ensure that the source and destination of packets of information are exceedingly difficult, if not impossible, to link. Much has been written about Tor vulnerabilities, but most of these vulnerabilities are theoretical or require communication through Tor “exit nodes”. Because the Synergy network does not have exit nodes, and because the information is very limited in nature (confined to transaction information), many theoretical Tor vulnerabilities do not apply to Synergy communication.

Although it is most tested network anonymization technology available, we do not claim that Tor routing provides perfect anonymity against any agency or institution. It is quite possible that some governments have penetrated the Tor network and can track network traffic therein. However, we are confident that it will be strong enough to prevent targeted attacks from most potential adversaries.

Public transaction comments

Public transaction comments, stored in the blockchain, can be entered from the Qt wallet at the top of the send page:

txcomment

Transaction comments are convenient, but they take up valuable blockchain memory. To compensate for this resource usage, Synergy charges 0.0001 SNRG per character. The charge is effectively “burned” by the network. In other words, the individual making the transaction pays the fee, but no person collects it.

Can someone spam the chain with transaction comments? Sure, but it will cost them. Each block is 256 kB. To fill up one block requires 25.6 SNRG. Additionally, those 25.6 SNRG will simply cease to exist, reducing the money supply as a result.

Blockchain notary

The blockchain notary is a simple tool for incorporating a “proof of existence” into the block chain.

In the Qt, this feature is called “Exist”, and it is also at the top of the send page:

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By clicking the “Exist…” button, the user will be taken to a file dialog. Simply select a file for which to store a proof of existence and the SHA256 hash of the file will be inserted into the comment field. The file could be a scan of a paper document or an electronic document. In any event don’t lose the original file! You will need exactly the file (byte per byte) if you ever need to use the blockchain as proof of existence of the document at a given time.

See this CoinDesk article for a detailed description of similar services:

Dual key stealth addresses

Stealth addresses are a way to cryptographically hide the receiver of a coin, using a public address. A stealth address is long, but can be made public. Synergy users send to a stealth address, but the stealth address is not the actual receiving address. The actual receiving address is derived from the stealth address, but only the sender and receiver know to whom this derived address belongs.

An example of a stealth address is: smYn4iNZAHFTKheSs9TckrKvmNWKuiUwhWRmW5bbqjXiWtfyFSaSjgfuoeKYS9fj3qtBS7w1hPcLfSk hgaqTk1euhLRVWeFLXuNqot

If an individual sends coins to that address, the actual address used in the block chain can not be linked to the stealth address or any other public address.

Stealth addresses are conveniently created in the wallet when making a new receiving address:

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Notice that the “Stealth Address” checkbox is selected.

Efficient long-term blockchain validation

Chained-hash cryptocurrency algorithms like X11 and X13 are exceptional for protecting GPUs during mining. That’s why we chose X11 for our PoW period. However, they are unnecessarily computationally expensive for PoS, which does not rely on the difficulty of the algorithm to achieve security. Early in a cryptocurrency’s life, the added difficulty of chained-hash algorithms make little difference. However, after a few years, validating a block chain can be very computationally expensive.

To ameliorate the computational expense of our choice of PoW algorithms, we decided to make the PoS phase SHA256d, which requires only two SHA256 hasing cycles. This reduces the work load for block validation significantly. It’s easier on CPUs, quicker, and energy efficient. Use of the SHA256d algorithm will begin quietly about 10 days after launch.

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