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Darkcoin completes second release candidate of anonymous payment system, DarkSend; price up 1000% since March

Darkcoin (DRK), an alternative to Bitcoin and the first cryptographic currency to offer decentralized anonymous transactions, strengthens the network with completion of the second release candidate of DarkSend. The RC2 release sees masternodes begin receiving payment in the form of a percentage of newly minted Darkcoins. DarkSend is the name for Darkcoin’s unique anonymous payment system, created by developer Evan Duffield.

Masternodes are integral to the functioning and security of the decentralized system. The voluntary nodes, created and hosted by holders of 1000 or more Darkcoins, perform the coin mixing service of DarkSend. For each masternode created, 1000 coins are removed from the total supply of available Darkcoins, making coins slightly scarcer.

Masternodes began receiving passive income on May 25, making Darkcoin the first digital currency to launch a “proof of service” incentive system in parallel with the standard “proof of work” system of verifying transactions.

Darkcoin is the pioneer of anonymous digital transactions. While Bitcoin allows users to transact from pseudonymous digital addresses, all Bitcoin transactions are recorded in a public ledger called the “blockchain”. The public blockchain allows third parties to track payments from any digital address, making it possible to determine a user’s transaction history, their trading partners and other information. Evan Duffield has created a decentralized payment system that pools transactions going through DarkSend and mingles the records in the public blockchain, ensuring no link can be made between buyer and seller. Individual buyers and sellers know how much they sent and received but third parties cannot observe the transaction.

The next release candidate, RC3, set for release on DATE, will increase the limit of transactions going through the DarkSend system from 10 to 1000 coins. Following the completion of RC3, experts will be engaged to inspect the DarkSend code and, once confirmed, DarkSend will become open source. Upon completion of the development cycle of DarkSend, Darkcoin will be the first open-source, decentralized anonymous cryptocurrency. Future development slated by Duffield, who has committed to work on Darkcoin full-time, will include the implementation of i2P and ring signatures.

There are currently close to 4.3 million Darkcoin in circulation, compared to the 12.7 million Bitcoin currently mined. Darkcoin is currently priced at approximately $6.