In this white paper we introduce a new cryptocurrency, Aidos Kuneen. Aidos Kuneen has been developed to deliver a fast, anonymous, blockless, decentralized and scalable solution for post-quantum era transfers with zero fees.
Aidos Kuneen employs a mechanism known as iMesh, within iMesh all transactions are directly referenced by one another in order to form a Directed Acyclic Graph (DAG) structure.
The inclusion of ‘SPECTRE’ allows full-nodes to determine which transactions are legitimate within the DAG structure and to reject those that are not. In addition, SPECTRE provides resilience against any attackers who may happen to gain control of up to 50% of the network’s computational power.
To ensure continued security in the post-quantum era, Aidos Kuneen utilises the hash-based signature ‘XMSS’. XMSS provides for both a small signature and a small public key size which in turn reduces network load.
In order to provide anonymity within the network, Aidos Kuneen employs AKShuffle. AKShuffle incorporates the post- quantum, zero-knowledge proof ‘ZKBoo (ZKB++)’, this allows for truly anonymous transfers throughout the entire network.
To allow Aidos Kuneen to service the expected future growth of the ‘IoT’ sector we introduce an innovative new co- operative Proof of Work mechanism known as coPoW. coPoW allows a number of senders within the network to co- operatively perform the necessary Proof of Work in order to confirm transactions on the network, thus reducing the physical processing requirements of any one sender.
Finally, we provide a simulation of the number of leaves in iMesh and we further determine the minimum number of reference transactions required in order to converge the DAG and deliver fast confirmation times, whilst still having minimal effect on the transaction size.