Privacy, a small word but worth a lot. People believe that the internet is pulling off their privacy and they are right because through the internet anyone can access you and your data is in the hand of several organizations. Feeling relatable? Yes! It is a bitter truth, It is not just the internet, It’s all around the world in form of banks etc. Meanwhile, the internet is trashing the privacy of peoples, some organizations are working and developing new technologies on the internet for the privacy of peoples. Cache is one of them.
Cache is working on making banking, saving, money transactions, and massaging safe, private, and fast by using decentralized blockchain technology.
Do you want to know more about Cache? I researched Cache and came up with a detailed overview of it.
Cache is a privacy-focused decentralized blockchain where anyone can save their money anonymously and send transactions privately without leaving any trace. It is entirely safe because of blockchain and technologies & tactics implemented by the Cache team. Cache is a community dedicated to privacy. Comprised of consummate professionals with a passion for privacy, its goal is eschewing the age of bank control over personal financial situation and to establish the power of choice. It is the ultimate solution, providing financial freedom coupled with opportunity. Cache also provides a safe way of conveying messages through blockchain. You can gain huge interest by saving your funds in Cache.
Let talk about its features and uses in detail.
Private & Safe
Cache provides absolute privacy and anonymity to its users. Your data is private, your money is safe, your identity is secret and your transection & massages are traceless. Yes, even the team doesn’t know about it, how can unauthorized parties can know about it? Cache is private and totally safe but reasonably you will ask us How?
So on these features Cache is fully private and safe:
Hybrid PoS/PoW Algorithm
Cache is secured by combining both methods of passing blocks into one. Mean PoW (Proof of Work) also known as mining and PoS(Proof of Stake), pairing the advantages of each process to create a secure platform. This makes the system less prone to double-spend attacks and improving overall security. In easy words with the Hybrid PoS/PoW Algorithm, the must be confirmed by both miner and node to confirm a transaction. It is common in new projects but still its first wall of security.
The transaction on Cache are stealth (hidden). Stealth transactions are made by concealed addresses. Concealed addresses are an additional security in which the sender of Cache needs to create a random one time address for a given transaction. The transactions in Cache are publicly hidden and non-linkable, it is almost impossible for a third party to view the transactions. It increase adequate privacy and safety.
Different Mining Algorithm
The problem of hash rate instability and mining centralization is well known in today's crypto world. Parties who can afford ASICs control the production of coins and steal the tag decentralized. For the solution of these problems, Scott Roberts proposed a new algorithm for modifying the hash rate called the “Zawy difficulty algorithm’’. Cache is using the late version of this algorithm called LWMA (WHM). Cache considers accessibility of mining the priority and has a modified hashing algorithm to resist centralization to only those that can afford ASICs.
Crypto Assets Intrinsic Value
The price of a crypto asset is influenced by the cost of producing the asset. This means if creation is cheap miners sell for less, if it is more difficult to create miners will want a higher price or drop out — making creation effectively easier for other miners. This balance forms an intrinsic value that is then influenced by speculation on the asset and demand for utility of the asset. This is the case for any POW coin including Bitcoin itself.
Cache is fully fungible. It means that Cache is built so that each individual token (or fraction of a token) is equivalent to the next. Even bitcoin is not fully fungible. Yes because all transactions are publically visible so, it is common for bitcoin exchanges to discriminate between bitcoins based on the owner or their history. For example, some exchanges will attempt to block bitcoins, which have been confirmed as stolen or obtained illegally. This becomes an issue because when not every exchange accepts the so-called “dirty” bitcoins, the “dirty” bitcoins become less valuable. Because Cache addresses are publicly hidden there is no chance of this phenomenon.
For transparency of work, Cache code is totally open source and its code is available for everyone in their Github, not just the blockchain but everything around it. Here is a link to Cache Github. Anyone can contribute to it Yes also you can. But your code will be checked by major tests to ensure that code is totally legit. I hope it makes you feel more comfortable and trustful to Cache Team.
Smart Community Governance
In other projects, huge problems can arise because of the core team. If the core team owns the project they can cause several problems related to dumping coins and stealing premines. If the project has community governance issues like lack of funding, infrastructure, and direction. Both ways are unsafe that's why Cache brings an amazing way to solve the problem in which the Cache Core team evolving Cache in response to Cache Community Feedback adapt the future plan. We can call it Smart Community Governance. It is briefly described in this article → The Direction of Cache Privacy Focused Decentralised Finance for All.
Cache uses many methods and technologies for securing and privatizing the transaction and data of Cache users. All of the transactions are hardcoded in the core. The computational efficiency of our network is powered by keycode design features like forward and backward compatibility, component-based modular structure, and asynchronous core architecture. The transaction between Cache users is secret because of the ring structure.
Uses of Cache
Above we talked about the specifications of Cache but now we will talk about the uses of Cache. Generally, you can use Cache anywhere according to your need there are some ways you can use Cache.
Private and Safe Funds Transactions
Previously mentioned technologies and algorithms in this article are focused on two things Privacy & Safety. Cache allows you to send money transactions privately, anonymously and safely. The transection sent or received is not visible to other people like in other coins. Nor transaction is linked with others. Transactions and your money are fully secure due to the safety and stability of Cache. So you can now simply send and receive transactions without leaving any trace behind you.
You heard about memos with transaction, A simple massage to define the transaction as in steemit and other coins. You can also send the memo with your transaction in Cache but the difference is in other coins the memo is also visible like a transaction but in Cache, the meme is also encrypted. No one can see the memo only the receiver can decrypt it. But another interesting thing is that you can only send a memo as a massage without any money transaction, Yes! you can use Cache as a massaging service where you can send and receive encrypted messages through blockchain. The memo transaction is as same as other transactions, No one can differentiate. As money transections, the memo is private and secure.
Cache is here to make the banking system private, secure, and less disturbing. Cache is more private and secure than banks but it also gives much more return on investment and money-saving. The average interest on banks is 2.5% per annum but Cache gives you a maximum of 8% according to your amount and time. Interest rate depends upon deposit time and varies from 1 month to 1 year. The latter case is the most profitable (gives users maximum possible profit — 8% of their deposit). The minimum percentage of interest is more than banks. The interest ties are as follow
You can also save your capital with your friend, family, and company according to the following rules.
- Saving in Friend and Family: You can save money with your family and friends according to the N-Of-N principal where all your family members or friends deposit money and withdrawal can also be made if all the members of the family or all of the friends withdraw together.
- Saving By Compay or Organization: Let suppose a share-based company or organization save their capital in Cache and can only withdraw according to the M-of-N principal where withdraw can only be made if M of the mean majority of peoples will withdraw together.
Cache is growing day by day and bring more projects to its ecosystem. This is a quick insight into upcoming major projects.
- Mobile Wallet
Cache is going to launch its mobile wallet app soon in which users can save and access their funds, send other transactions, and do other functions on the Cache blockchain.
- Multi-Sig Wallets
Multi-signature, or multi-sig, is a wallet configuration that requires at least two keys to authorize a transaction. Commonly used by cryptocurrency exchanges to ensure funds can’t be moved by a rogue employee, multi-sig also has applications for end-users. A multi-sig wallet is a wallet shared by two or more users called co-payers. Depending on the kind of wallet, the number of signatures required to sign a transaction will be lower or equal to the number of co-payers of the wallet.
- Hardware Wallet Support
Hardware wallets are special types of wallets that make use of a secure hardware device to store a user’s private keys. … Users simply plug in their devices to any internet-enabled device. They enter a pin, initiates a transaction, and then confirm to send the cryptocurrency.
- Cache Social Platform
Soon Cache is going to launch a decentralized community social platform. Not much more information or plan is available right now but surely it would be interesting. The platform can be accessed from any device. This platform may or may not be on-chain with Cache’s blockchain but that’s because decentralization isn’t solely blockchain-based
- Cache Card
Cache is also going to launch its own card as of banks to access your funds. From Cache card, you can withdraw money using ATMs and can send transactions on online sites. When you will withdraw money from your Cache card it will be converted to your local currency at the current rate.
- Cache ID
I think you know about XLM and Steemit blockchain where you can send transactions to someone with its id. As wallet addresses for Cache are formed using a random string of 99 letters and numbers, starting with
cxche, and this can be hard to memorize. Cache ID would allow you to send a transfer to
talha.cxche.id instead of
cxcheABC123..., making it even easier for normal users to send transactions.