Fun

Developer Reveals Layer-Two Private Messaging and Payment System on Bitcoin Cash

News Feed - 2020-07-07 10:07:08

Developer Reveals Layer-Two Private Messaging and Payment System on Bitcoin Cash


On July 4, 2020, the Bitcoin Cash proponent Cain published an interview with the blockchain developer, Shammah Chancellor, about a new project called Stamp Chat. At its basic level, “Stamp is a prototype of a layer-2 private messaging and payment system on Bitcoin Cash. It implements stealth [plus] confidential transactions on top of Bitcoin Cash using layer-2 protocol technologies.”


This week Bitcoin Cash supporters were introduced to a new tool called Stamp, an encrypted message and payment system that leverages the Bitcoin Cash (BCH) chain. The project is being developed by the software programmer Shammah Chancellor, otherwise known as @micropresident.


The project was introduced on Saturday, July 4, 2020, by the Bitcoin Cash proponent Cain (@bchcain) via the read.cash blog. Cain gives a summary of how governments today have the ability to censor our speech online, and our financial lives as well through centralized parties. The BCH enthusiast highlights how our freedom of expression is censored and monitored by the powers that be.




“The fact that we are being monitored limits our freedom of thought and our freedom of expression,” Cain’s interview stressed. “You might think twice about entering something into a search engine, or posting something on Facebook or Twitter. This limits our ability to communicate and explore ideas, and this is why I am so excited by Stamp, the new Bitcoin Cash project being developed by Shammah Chancellor, aka @micropresident.”


Cain’s post further added:Stamp is still in its early stages and only available on testnet, but the interface already looks polished and many features like group chats and nested messages have already been deployed. According to his Github page: “Stamp is a prototype of a layer-2 private messaging and payment system on Bitcoin Cash. It implements stealth [plus] confidential transactions on top of Bitcoin Cash using layer-2 protocol technologies.


Individuals who are interested in Stamp can check out the Github repository and get more familiar with the project. The Github repo’s disclaimer is a touch different and states: “Stamp is in early alpha development stage. There will be multiple breaking changes from now until a stable release. We default to the Bitcoin Cash testnet as to protect against lost funds.”


Those who are interested in testing the Stamp protocol can do so by accessing the cashweb/stamp/releases section and grabbing test coins from faucet.fullstack.cash.


The Stamp developers who contribute to the project also have a Telegram chat channel as well for people who want to learn more about the project. Shammah Chancellor also describes the Stamp project in great detail during his interview with Cain.


“Stamp is the name of the wallet that uses a number of backend protocols,” the developer explained. “These protocols are a suite called ‘Cashweb,’ with the vision being that everything online is powered by Bitcoin Cash. Fundamentally, Cashweb is powered via standard web technologies: Websockets, JWT tokens, HTTP/2. The idea being to make it easy for non-cryptocurrency developers to integrate with.”


“Cashweb is a [three] tier network,” Shammah Chancellor continued. “The first tier being Bitcoin Cash. The second tier is a ‘keyserver’ network, which is used to look up, in a cryptographically secure way, important information about a Bitcoin Cash address. The third tier is a messaging system (called relay servers) which allows wallets to pass, encrypted, structured messages between them.” The developer concluded:When you add a contact to a Stamp wallet, it reaches out to a keyserver and requests your contact information. This is then verified, and used to determine which relay server they accept messages on. Once your wallet has this information, it can start exchanging structured, encrypted, messages between itself and another user.


Cryptocurrency supporters who are interested in reading the rest of the interview between Cain and Shammah Chancellor can follow this link here that stems from the read.cash blog.


On the Reddit forum r/btc, BCH proponents seemed pleased with the announcement and some people contributed to the development funding. “Looks promising,” an individual wrote on Reddit. “I sent a bit of funding. Good luck with it.”


What do you think about the Stamp project built on the Bitcoin Cash network? Let us know what you think about this subject in the comments section below."Running Drivenet:" Bitcoin Proponent Discusses the Benefits of Drivechain Versus Lightning NetworkTECHNOLOGY | 5 days agoFederated Sidechains: $8M in BTC Stuck in Limbo, Analyst Says Action "Violates Liquid"s Security Model"TECHNOLOGY | Jun 28, 2020Tags in this story@micropresident, BCH, bitcoin cash, Cain, Chat System, Cryptocurrency, Developer, Development, Encrypted Chat, interview, Layer two, payment system, Shammah Chancellor, Stamp


Image Credits: Shutterstock, Pixabay, Wiki Commons, Stamp, Read.cash, CainSpot-markets for Bitcoin, Bitcoin Cash, Ripple, Litecoin and more. Start your trading here.Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.Read disclaimer Show comments

News Feed

Swedish Regulators Call for EU Ban on Crypto Mining, Power Company Defends Industry
Swedish Regulators Call for EU Ban on Crypto Mining, Power Company Defends Industry Alarmed by the rising energy needs of cryptocurrency mining, Sweden’s financial and envir
While BTC’s Hashrate Climbs Higher, Bitcoin’s Mining Difficulty Nears All-Time High
While BTC"s Hashrate Climbs Higher, Bitcoin"s Mining Difficulty Nears All-Time High During the last 90 days, Bitcoin’s hashrate has been climbing higher and has been slowly
More ‘extreme fear’ than FTX crash — 5 things to know in Bitcoin this week
William Suberg14 hours agoMore ‘extreme fear’ than FTX crash — 5 things to know in Bitcoin this weekBitcoin market sentiment is as erratic as BTC price action itself as a week of macro volatility catalysts gets un
Analyst Spots New Critical Ethereum Price Levels With Options Expiry Over
Este artículo también está disponible en español. Popular crypto analyst Michaël van de Poppe has highlighted vital price levels in the Ethereum (ETH) market following a
3 reasons why Bitcoin price could hit $68K in September
Nancy Lubale5 hours ago3 reasons why Bitcoin price could hit $68K in SeptemberBitcoin’s technical setup and onchain data hint at a short upside recovery in the making.2324 Total views6 Total sharesListen to article 0:0
Bitcoin Braces For Fed Shake-Up As Trump Eyes Powell Exit
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Bitcoin.com Wallet Users Can Now Purchase More Than $10K Worth of Cryptocurrency
Bitcoin.com Wallet Users Can Now Purchase More Than $10K Worth of CryptocurrencyDuring the end of March, news.Bitcoin.com reported on the newly updated Bitcoin.com Wallet that featu
Bitcoin Taker Sell Volume Plunges: Is BTC Gearing Up for a Major Rebound?
Este artículo también está disponible en español. Bitcoin has experienced a rollercoaster start to the week, briefly dipping below the $100,000 mark in the early hours of
Spanish Securities Watchdog Calls for Search Engines, Social Network Operators to Stop Promoting Unregistered Investment Platforms
Spanish Securities Watchdog Calls for Search Engines, Social Network Operators to Stop Promoting Unregistered Investment Platforms The CNMV, the Spanish securities regulator, has c
Bitcoin ETFs will drive institutional adoption and company growth: Crystal CEO Navin Gupta
Zoltan Vardai11 hours agoBitcoin ETFs will drive institutional adoption and company growth: Crystal CEO Navin GuptaCrystal Intelligence CEO Navin Gupta said ETFs could bring more institutional trust and crypto-friendly r
Hermi De Ramos12 hours agoAbu Dhabi grants virtual asset firm M2 permission to offer crypto servicesThe M2 platform will launch later in 2023, allowing UAE-based retail and institutional clients to buy, sell and custody
Tom Mitchelhill17 hours agoElon’s ‘not afraid of blowing things up’ — ex-Twitter exec on working under MuskEsther Crawford claimed Elon Musk’s inability to handle criticism created a “zealous and fanatical