WHIT

EP
AP
ER

Resistance. The First Anonymous

Decentralized
Exchange &
Privacy Coin

RELEASE DATE WEBSITE

August 2018 www.resistance.io
Version 1.0
Contents

PART ONE
ABSTRACT 4

PART TWO
INTRODUCTION: WHY RESISTANCE? 6

2.1 The Resistance Vision 7

2.2 The Problems with Cryptocurrency Exchanges 7
2.2.1 Problem 1: Centralized Exchanges Lack Security 8
2.2.2 Problem 2: Decentralized Exchanges Need Refinement 8
2.3 The Problems with Existing Blockchains 9
2.3.1 Problem 1: The Biggest Blockchains are not Privacy Oriented 9
2.3.2 Problem 2: Mining Should Be for Everyone, Not a Monopoly 9
2.4 The Resistance Solution: The First Anonymous Decentralized Exchange 10
2.4.1 Prototype 10

PART THREE
RESISTANCE DECENTRALIZED EXCHANGE: 11
ANONYMOUS, PRIVATE, AND SECURE
3.1 A Trustless Exchange Prevents Malicious Attacks 13
3.2 Not All Decentralized Exchanges are Created Equal 13
3.3 Competitive Advantages of the Resistance Anonymous DEX 14
3.4 How Resistance Powers Anonymous Decentralized Trading 15
3.4.1 The Anatomy of an Atomic Swap 15
3.4.2 Atomic Swaps Cut Out the Middleman 16
3.4.3 Making Atomic Swaps User Friendly 17
3.5 What Makes the Resistance Anonymous DEX Unique? 17

PART FOUR
RESISTANCE BLOCKCHAIN: FACILITATING SHIELDED 18
TRANSACTIONS
4.1 The Privacy Myth 19
4.1.1 Privacy is a Human Right 19
4.1.2 With Privacy Comes Fungibility 19
4.2 The Resistance Privacy-Oriented Blockchain 20
4.3 What is a Zero-Knowledge Proof? 20
4.3.1 Enter the Zero-Knowledge Cave 21
4.3.2 A Brief Introduction to zk-SNARKs 22
4.3.3 Private and Anonymous with One Click 23
4.3.4 Anonymity Assured with Tor 24
4.4 Scalability 25
4.5 What Makes the Resistance Privacy-Oriented Blockchain Unique? 26

2
 PART FIVE PART SIX
RESISTANCE CONSENSUS: 27 RESISTANCE ROADMAP 37
DEMOCRATIC MINING AND
REWARD SPLITTING PART SEVEN
RESISTANCE CROWDSALE 40
5.1 An Introduction to Reward Splitting 28
5.2 Masternodes 29 7.1 Committed to Best Practice 41
5.3 Proof of Work 30 7.2 Private Sale 41
5.3.1 Democratic and Accessible Mining 31 7.3 Public Sale 41
5.3.2 Resistance Desktop Wallet/Miner 32 7.4 Token Allocation 42
5.3.3 Resistance Desktop Prototype 33
5.3.4 Command Line CPU Miner 34 PART EIGHT
5.4 Proof of Research 35 TEAM AND ADVISORS 44
5.4.1 What is BOINC? 35
8.1 The Resistance Team 45
5.4.2 Get Paid to Change the World 36
8.2 Advisors 48
5.4.3 Resistance BOINC Pool 36
5.5 Project Development 36
PART NINE
CONCLUSION 49

PART TEN PART ELEVEN

LEGAL DISCLAIMER 51 GLOSSARY OF TERMS 54

10.1 Information Published in this Whitepaper 52

PART TWELVE
10.2 Translations of the Whitepaper 52
END NOTES 57
10.3 Investment Concerns 52
10.4 Tax Obligations 52
10.5 No Warranties Expressed or Implied 52
10.6 Data Protection 53
10.7 Limitation of Liability 53
10.8 Token Sale 53

3
 PART ONE

Abstract

4 PART ONE: ABSTRACT

Abstract
The growth of cryptocurrencies and blockchain technology is challenging
traditional centralized monetary and financial systems.

Decentralized cryptocurrencies are an DUE TO THE CENTRALIZED To enter the mining space, new users
attractive alternative to fiat currencies NATURE OF THESE must make a sizable investment for
for a number of reasons, especially PLATFORMS, IT ONLY marginal returns.
efficiency. The speed and simplicity TAKES ONE SECURITY
of cross-border cryptocurrency BREACH TO EXPOSE AND Resistance is the first anonymous
transactions are astonishing when JEOPARDIZE THE ASSETS DEX built around a privacy-oriented
compared to their fiat counterparts. For OF EVERY USER ON AN blockchain powered by democratically
example, a check written in the US and EXCHANGE [ 2 ]. accessible mining.
then deposited into a UK bank account
can take months to clear. What’s more, when your digital assets

The Resistance Anonymous DEX
are placed on a centralized exchange utilizes atomic swaps to enable fast,
Another negative characteristic of fiat platform, you relinquish control of the direct, anonymous trades without the
currencies is the volatility of interest private keys to your own accounts. need for a third party.
rates. Right now, Denmark, Japan, This can make your digital assets


The Resistance privacy-oriented
Sweden, and Switzerland have all inaccessible if the exchange goes offline
blockchain makes fully private
applied negative interest rates so banks as a result of an attack, maintenance
trades possible by using Resistance
in these countries are charging account issue, critical hardware failure, or
coins (RES) as an intermediary and
holders interest on their deposits, network access denial scenario.
validating transactions through
instead of paying it [ 1 ].
zero-knowledge proofs.
Decentralized exchanges (DEX) have
Cryptocurrencies are thriving, yet when begun to challenge the dominance

The Resistance CPU-Optimized
it comes to cryptocurrency trading of centralized exchanges in the Miner allows anyone with a laptop
platforms, users currently face many digital currency trading space. But or desktop computer running
hurdles, including usability issues, first-generation DEX’s are slow, macOS, Windows, or Linux to mine
slow transaction speeds, and a lack indirect, only moderately secure, and on the Resistance blockchain.
of privacy, security, anonymity, and offer inadequate support for users


B lock rewards and transaction
freedom. concerned about privacy.
fees are split between
masternodes, project development,
Most cryptocurrency trading takes place Furthermore, massive cryptocurrency
Proof of Work, and Proof of
in centralized exchanges that rely on mining operations utilizing expensive,
Research on whitelisted BOINC
trusted third parties, escrow services, or specialized hardware have made it
projects that are advancing
derivatives, making it almost impossible extremely difficult for the average
scientific research to help humanity.
to trade anonymously. person to compete for block rewards.

Resistance. Trade Freely, Mine Fairly.

5 PART ONE: ABSTRACT

 PART TWO

Introduction:
Why Resistance?

6 PART TWO: INTRODUCTION: WHY RESISTANCE?

The Resistance Vision
Resistance is a decentralized, innovate, regardless of their resources privacy, decentralization, and
democratic platform driven by the or technical expertise. Our aim is to democratic mining are at the forefront
belief that blockchain technology take the complexity away from the of its development. DEX technology is
should empower users with the user. Built by a team of cybersecurity the future of cryptocurrency trading,
freedom to mine, trade, invest, and experts, the core values of anonymity, and Resistance is leading the way.

“I believe that decentralized exchanges are the

future. I don’t know when that future will come.
But we’ve got to be ready for it.”[ 3 ]
Changpeng Zhao, CEO of the centralized exchange Binance

The Problems with

Cryptocurrency Exchanges
Most cryptocurrency exchanges rely on low-income Indians were badly hit 2  . Decentralized exchanges are often
a central authority, exposing users to the by the ban. The decentralized nature difficult to use and, typically, have
same problems that plague traditional of cryptocurrencies alleviates these not done enough to preserve the
monetary systems all over the world. issues, but most cryptocurrency anonymity of their users.
exchanges do not.
Over time, there have been countless Before Resistance, a fully
examples of governments manipulating There are several key issues plaguing decentralized, democratic, anonymous,
currencies for political purposes, even cryptocurrency exchanges today. and easy-to-use cryptocurrency
those that are well intended, at the exchange did not exist.
expense of the public. In 2016,the Indian 1   . Cryptocurrencies are mostly
government caused chaos when it traded on centralized exchanges
took 86% of the country’s cash out of that hold custody of users’ private
circulation by banning 500 and 1,000 keys. These centralized exchanges
rupee notes [ 4 ]. Relying heavily on forfeit privacy and security for
the on the cash economy, a lot of convenience.

7 PART TWO: INTRODUCTION: WHY RESISTANCE? / 2.1 / 2.2

 middleman handles assets on many who are dissatisfied with their

1
behalf of senders and recipients. With inherent security weaknesses and
centralized data, it only takes a single undemocratic consolidation of power
security breach, or malicious insider, for [ 8 ].
users to lose everything.
The security of a user’s digital assets is
Perhaps the best-known example paramount to the long-term success of
PROBLEM 1:
is the 2014 Mt. Gox hack, when the any cryptocurrency on the market.
CENTRALIZED popular exchange discovered a
EXCHANGES LACK security breach that led to the theft As centralized exchanges cannot be
SECURITY of over 740,000 bitcoins [ 5 ]. In 2016, trusted, many in the cryptocurrency
$72 million worth of bitcoin was stolen community are calling for a new
The biggest issue with centralized from users’ wallets on another popular solution — decentralized exchanges.
exchanges is security. Most of the exchange, Bitfinex [ 6 ]. A year later, the
major exchanges, including Binance, owner of BTC-e, yet another prominent These platforms have been a major
OKEx, and Huobi, operate using a centralized exchange, was arrested for driver in the growth of digital assets
centralized model where a trusted laundering $4 billion in stolen bitcoins but, at times, have allowed issues
[ 7 ]. Ethereum creator Vitalik Buterin in security to impact the overall
wants centralized exchanges to “burn perception of how secure digital
in hell,” echoing the frustrations of currency services are.

2
PROBLEM 2:

DECENTRALIZED But at this stage, DEX’s need to mature take days and user interfaces are
EXCHANGES NEED significantly to be able to compete at often crude and difficult to navigate.
REFINEMENT scale with their centralized counterparts. Though there is no single point of
failure, assets are sometimes stored
In theory, the decentralized model Currently, DEX trading is much on the exchange, rather than in users’
should eliminate the threat of a cyber slower than trading on a centralized own wallets, and registration, login,
attack infiltrating and crippling a exchange and lacks the privacy users third-party APIs, or derivatives create
cryptocurrency exchange. expect. Verifying transactions can vulnerabilities [ 9 ].

8 PART TWO: INTRODUCTION: WHY RESISTANCE? / 2.2.1 / 2.2.2

The Problems with

Existing Blockchains
a new coin [ 12 ]. Additionally, with have hijacked the mining process [ 13 ].

1 the EU’s General Data Protection

Regulation (GDPR) now in effect, and
Take Bitcoin for example. At the time
of writing, August 2018, the reward for
the upcoming California Consumer completing a block was 12.5 bitcoin.
Privacy Act, cryptocurrency exchanges At the current valuation of $7,000 per
PROBLEM 1:
and blockchains are under pressure to coin, miners make $87,500 by mining
THE BIGGEST uphold each individual’s right to alter or a single block. Today, the average user
BLOCKCHAINS ARE NOT delete their own personal information. can’t compete with massive mining
PRIVACY ORIENTED Core GDPR principles, like the right operations that leverage expensive,
to request deletion or alteration of specialized hardware (FPGAs and
It’s a common misconception that Personally Identifiable Information (PII), ASICs) to mine new blocks, further
all cryptocurrencies offer privacy are incompatible with public blockchains, eroding the democratic ideal of
and anonymity. In reality, blockchain presenting a considerable challenge for blockchain technology. FPGAs and
technology offers many features these networks moving forward. But ASICs have created an unfair power
and benefits, but not all blockchains Resistance was built with an essential distribution on many blockchain
implement all of these features equally. principle of the GDPR in mind: the user’s networks, dramatically centralizing the
In many cases, privacy is downgraded ability to control their PII. Resistance network mining power. For example,
in favor of other benefits, such as Anonymous DEX users are free to two mining pools owned by one
transparency. For example, Bitcoin decide if any PII is to be used on the company, Bitmain, today mine over
wasn’t designed with privacy in mind. blockchain. 40% of the world’s bitcoins [ 14 ].
Bitcoin affords users pseudonymity, but
all transactions take place on a public, That means one company controls 40%
open blockchain, where anyone can view
them [ 10 ]. Tools have been developed 2 of the blockchain, which pushes the
network towards a centralized model.
that analyze past transactions and can Not only does that make it incredibly
even identify the relationships between difficult for regular users to mine new
PROBLEM 2:
the multiple addresses that a person blocks, but it also defeats the main
uses [ 11 ]. If a malicious actor can link MINING SHOULD BE FOR objective of blockchain technology:
the identity of an individual to a public EVERYONE, NOT decentralization. It’s also a huge
wallet address, any trace of privacy or A MONOPOLY security risk, leaving the network open
anonymity is lost. to a “51% attack.” When any single party
By their very nature, cryptocurrency gains control of 51% of a blockchain,
As blockchain technologies become platforms should facilitate democratic they essentially gain the ability to rewrite
more widely adopted, coins that financial processes. A fundamental goal past transactions to their favor [ 15 ].
don’t support user privacy may face of blockchain platforms is to take power For mining to be genuinely democratic,
significant challenges because they are away from centralized institutions and everyone should be able to participate
not fungible, meaning all units of the put it in the hands of users. using a regular laptop or desktop
same value are not equal. When the computer. To date, no cryptocurrency
entire transaction history of a coin is While this democratization thrives in platform has developed an anonymous
traceable, then it is no longer equivalent some areas, that isn’t the case for DEX, built around a privacy-oriented
to a newly minted coin. The older mining — a fundamental element of blockchain that favors democratic
coin may be associated with illegal or blockchain management, security, and mining practices.
unethical transactions and effectively functionality. Rewards have become
become devalued in comparison to so lucrative that massive operations Except for Resistance.

9 PART TWO: INTRODUCTION: WHY RESISTANCE? 2.3 / 2.3.1 / 2.3.2

The Resistance Solution:

The First Anonymous

Decentralized Exchange
Resistance is the first easy-to-use, anonymous, decentralized exchange built
around a privacy-oriented blockchain.

Resistance upholds user privacy,

The Resistance Anonymous DEX

R esistance coins (RES) are created
anonymity, and equality, brings mining utilizes atomic swaps to enable fast, when blocks are mined through Proof
back to regular people, and allocates direct, risk-free trade of almost any of Work. By harnessing the Resistance
a percentage of block rewards to users cryptocurrency through an easy- privacy-oriented blockchain, users can
committed to changing the world for to-use interface. Users retain full choose to use RES as an intermediary
the better. control of their data, IDs, wallets, coin to add privacy to almost any
and assets at all times. cryptocurrency.
The Resistance Desktop Wallet/
Miner integrates seamlessly with

The Resistance privacy-oriented

The Resistance CPU-Optimized Miner
the platform’s core components: blockchain enables the Resistance democratizes the mining process.
Anonymous DEX and offers All you need to begin mining on the
users the option to conduct fully Resistance blockchain is a laptop or
private transactions by validating desktop computer running macOS,
transactions through zero- Windows, or Linux operating systems.
knowledge proofs.


Block rewards and transaction fees
are split between masternodes, project
development, Proof of Work, and Proof
of Research on whitelisted BOINC
projects. Proof of Research provides
an alternative way for users to receive
block rewards while contributing

Prototype
computing power to critical scientific
research.

A prototype application and testnet activity to be anonymous. A command

have already been released. The line version of the app compatible with
Resistance Desktop Wallet/Miner is Linux as well as macOS and Windows
available for download now. For macOS is also available. For the prototype, research and test the functionality of
and Windows, the Resistance Desktop block rewards and transaction fees receiving coins that can be used on the
Wallet/Miner offers a graphical user are split 50/50 between Proof of testnet. After the ICO, the anonymous
interface (GUI) that integrates the Work and Proof of Research. Users decentralized exchange will be built,
user’s wallet with a CPU-optimized of the Resistance pool for Proof of allowing users to directly trade almost
mining client. Tor support enables all Research can already perform real any cryptocurrency.

10 PART TWO: INTRODUCTION: WHY RESISTANCE? / 2.4 / 2.4.1

 PART THREE

Resistance Decentralized Exchange:

Anonymous,
Private, and
Secure

11 PART THREE: RESISTANCE DECENTRALIZED EXCHANGE: ANONYMOUS, PRIVATE, AND SECURE

Anonymous, Private,
and Secure
The Resistance Anonymous DEX is a 5 WAYS THE RESISTANCE ANONYMOUS

Atomic swaps allow users to
revolutionary open-source platform DEX PROTECTS PRIVACY AND FREEDOM trade up to 95% of existing
that eliminates the privacy concerns cryptocurrencies directly with one
and security risks of centralized

Users have the option to route another.
exchanges. Trade almost any transactions and trades through
cryptocurrency privately, anonymously, Tor — an open network that

Users may harness the power of
securely, and directly through a user- enables people to communicate the Resistance privacy-oriented
friendly, security-focused dashboard. anonymously over the public internet, blockchain as an intermediary
or clearnet. to achieve entirely private
Our anonymous DEX application is trades between almost any
hosted on the computer of every

There is no registration process and cryptocurrency.
trader in the network, and is seperate users can trade as much as they
from the Resistance blockchain. want with no withdrawal limit. Combined with the Resistance
However, users can choose to trade privacy-oriented blockchain,
using RES as an intermediary, taking

There is no third-party escrow Resistance Anonymous DEX users
advantage of the privacy features service, so users always retain have the option to easily shield their
integrated into the Resistance control of their funds without the identities during every stage of a
blockchain. intervention of a middleman. trade.

RES AS AN INTERMEDIARY: ADDING PRIVACY TO ANY COIN

The Resistance Anonymous DEX allows including bitcoin, even if that currency place of the original currency, thereby
anyone to quickly and directly trade doesn’t support private transactions adding privacy to the trade. Users can
coins cross-blockchain with any other natively. By harnessing the power also utilize the same trading mechanism
user on a decentralized peer-to-peer of the Resistance privacy-oriented to turn a non-private cryptocurrency
network. This means, for example, that blockchain as an intermediary, users into a private cryptocurrency by
a user can choose to trade bitcoin for can also choose to trade almost any trading with themselves via RES.
zcash using the Resistance Anonymous coin for RES first and then trade that
DEX without anything being recorded RES for any other cryptocurrency, The flexibility of these options means
on the Resistance blockchain or making the procedure entirely private. that the user has complete control over
touching a centralized server. With a click of a button, users can which trades are private and which are
enable this privacy feature and the not. When combined with Resistance
As an added feature, users can add DEX will automatically trade the coin Anonymous DEX atomic swaps, users are
privacy to almost any cryptocurrency, of your choice to RES, then send RES in secured during every stage of a trade.

12 PART THREE: RESISTANCE DECENTRALIZED EXCHANGE: ANONYMOUS, PRIVATE, AND SECURE

A TRUSTLESS EXCHANGE DISCOURAGES MALICIOUS ATTACKS

Centralized exchange users make a user must manually enter peers without entrusting private
deposits to the exchange and rely private keys, which puts that keys or funds to a central party. By
on a third party to authenticate user at risk of malicious phishing retaining control of their private
and authorize transactions. In order and keylogging attacks [ 16 ]. The keys, users have peace of mind
to move coins from a hardware Resistance Anonymous DEX allows knowing no one else has access to
wallet to the centralized exchange, users to trade directly with their their funds [ 17 ].

CENTRALIZED EXCHANGES

It’s common practice to use the advantages of such services, they

System vulnerabilities are common,
intermediaries, or escrow services, to also have limitations: and data breaches are becoming more
facilitate safe exchanges between frequent.
different cryptocurrencies. The most

Custody risks counterpose any
popular solution is to use a centralized notions of transparency, openness,

Centralized exchanges charge exorbitant
exchange platform like Binance, Bitrex, and independence from trust- fees, making them inaccessible to many
Kucoin, Cryptopia, or Polinex. Despite based mechanisms. emerging cryptocurrencies.

NOT ALL DECENTRALIZED EXCHANGES ARE CREATED EQUAL

Decentralized cryptocurrency exchanges exchanges. Most of them are plagued subject to KYC (Know Your Customer)
are still in their infancy. Although the by privacy concerns and security and AML (anti-money laundering)
concept has been discussed for years, weaknesses. As Etherdelta users learned regulations requiring users to provide PII
the arrival of usable decentralized after hackers stole roughly $270,000 in [ 18 ]. Not to mention that, by definition,
exchange platforms such as IDEX, Waves, tokens in late 2017, some decentralized a decentralized exchange is not a true
and OpenLedger is relatively recent. As exchanges still utilize centralized decentralized exchange if it’s based on
with all emerging technologies, there are hosting of software, data, or servers, centralized infrastructure and resources.
factors that have limited the viability and leaving room for a malicious attack. By
privacy of these initial offerings. eliminating these types of entry points, Additionally, first-generation
Resistance offers a more secure trading decentralized exchanges are slow,
There have been significant growing experience. Decentralized exchanges difficult to use, and support only a
pains with first-generation decentralized operated by centralized entities are still limited range of cryptocurrencies [ 19 ].

13 PART THREE: RESISTANCE DECENTRALIZED EXCHANGE: ANONYMOUS, PRIVATE, AND SECURE / 3.1 / 3.2
Competitive Advantages of the Resistance

Anonymous DEX
Resistance is the first anonymous decentralized exchange dedicated to privacy
and security at every stage of a trade. Built with usability at the forefront of its
design, even first-time traders will find the Resistance Anonymous DEX easy to
navigate. There is no registration or login required, no withdrawal limit, and trades
are conducted directly between one computer and another.

First-Generation
Centralized Exchange Decentralized Exchange Resistance Anonymous Dex

Security Centralized data means it only Eliminates the single point of The platform has been built by
takes a single security breach, or failure, but registration, login, a team of cybersecurity experts.
malicious insider, for users to lose and third-party derivatives There is no central entity, making it
everything. create vulnerabilities. very difficult for hackers to attack.

Anonymity To trade anonymously requires a Intercepted traffic can reveal There is no registration process
high-level of technical expertise. the IP addresses of both the and, with Tor enabled, IP addresses
sender and receiver of funds, are masked, allowing everyone
making them a target for hackers. to trade anonymously — if they
While registration requirements choose to do so.
compromise users’ anonymity.

Privacy Do not offer users the opportunity Typically do not offer users the Users have the option to enable RES
to trade privately. opportunity to trade privately. as an intermediary to harness zero-
knowledge proofs for private trading.

Control Transactions are mediated Assets are sometimes stored on Users keep coins in their own
and funds and private keys are the exchange, rather than in wallets — never on the exchange
controlled by a centralized service. users’ own wallets. — and retain full custody of their
private keys, data, and assets.

Accessibility Typically easy to use without User interfaces can be difficult Accessible to everyone, intuitive,
technical know-how, but convenience to navigate even for technically and easy-to-use.
comes at the expense of security savvy users.
and privacy.

Efficiency Often requires a lengthy verification Multi-node verification of each Direct peer-to-peer exchange is
process. Because users are unable transaction on the blockchain enabled by smart contracts (atomic
to transfer coins directly from wallet can take days. swaps) eliminating multiple steps in
to wallet, it can be difficult and the verification process. Trades are
slow to transfer from a wallet to an completed instantly and securely.
exchange and back again.

Liquidity Most support a variety of major, or Typically support a limited Supports 95% of existing
commonly traded, cryptocurrencies number of coins. cryptocurrencies. Users trade
and their third-party derivatives. in coins, not in derivatives or via
escrow services.

14 PART THREE: RESISTANCE DECENTRALIZED EXCHANGE: ANONYMOUS, PRIVATE, AND SECURE / 3.3
How Resistance Powers

Anonymous Decentralized
Trading
The Resistance Anonymous DEX is supported by three technological pillars that,
collectively, enable users to trade directly and anonymously.

1   . ATOMIC SWAP: An atomic swap is a 2 . ZERO-KNOWLEDGE PROOFS: 3  . TOR: Users have the option to
smart contract operation that allows A zero-knowledge proof is a method route all network traffic through Tor,
users to exchange one cryptocurrency of authenticating a transaction so they are shielded from network
with another without putting funds in without revealing any identifying surveillance and transactions remain
escrow. Following a strict process that information. Based on Zcash, one anonymous. Tor encrypts data and
holds each party accountable in a trade, of the leading privacy coins and directs traffic through a distributed
atomic swaps can take place directly largest cryptocurrencies in the world, worldwide network of relays, or nodes,
between blockchains, or off-chain, Resistance uses zero-knowledge which conceal sender and recipient IP
without the need for a trusted third proofs to protect the privacy of addresses [ 22 ].
party [ 20 ]. transactions on the Resistance
blockchain. Encrypted transactions
are validated using a Zero-Knowledge
Succinct Non-Interactive Argument of
Knowledge, or zk-SNARK. Rather than
posting sensitive information on the
public blockchain for anyone to see,
zk-SNARKs verify transactions without
revealing identifying information of any
kind [ 21 ].

THE ANATOMY OF AN ATOMIC SWAP

To understand the power of atomic registered, assets are held in the be exposed and funds stolen at any
swaps, it’s important to know the centralized exchange at all times and point in the identity verification or
shortcomings of existing alternatives. users can only access their funds transaction process, or while simply
In a centralized exchange, users using a designated wallet and private storing assets on the exchange [ 23 ].
must first register and go through key provided by the platform. It is But Resistance eliminates these
a KYC verification procedure. Once possible for sensitive information to problems.

15 PART THREE: RESISTANCE DECENTRALIZED EXCHANGE: ANONYMOUS, PRIVATE, AND SECURE / 3.4 / 3.4.1
Atomic Swaps
Cut Out the
Middleman

On the Resistance Anonymous DEX, users maintain full control of their data
and assets at all times.

Atomic swaps are a way to facilitate Specifically, an atomic swap uses a 3  . B provides the same secret number
direct, secure, peer-to-peer transfers Hashed Timelock Contract, or HTLC. used to generate the cryptographic
of funds on a decentralized exchange, An HTLC is a smart contract that hash.
eliminating the need for a third-party functions like a “transaction puzzle”
escrow service. Atomic in this context (the hash-lock) with a secret key 4  . If user B provides the valid key in
simply means that a transaction either [ 24 ]. To “solve” the puzzle, a user time, B can retrieve the locked coins.
happens completely or not at all. must provide the secret key within a If B fails to provide the valid key in
specified time frame. time, the transaction is canceled
Atomic swaps rely on cryptographically altogether.
powered smart contract technology Using an atomic swap, if A wishes to
to ensure that each party delivers trade funds with B: HTLCs ensure that the atomic swap
the agreed upon currency within an process is completely trustless. In other
allotted period of time. If one party 1   . Both A and B submit their words, users are never asked to trust a
fails to deliver their end of the swap, transaction to their respective central party to handle the transfer of
the transaction is canceled. This blockchains. their assets and do not run the risk of
removes the risk of one party failing to sending funds without receiving funds
uphold their end of a trade. 2 . A produces a secret number, or key, in return.
that only she knows, which is used
to generate a cryptographic hash
as proof of payment.

16 PART THREE: RESISTANCE DECENTRALIZED EXCHANGE: ANONYMOUS, PRIVATE, AND SECURE / 3.4.2
Making Atomic Swaps

User Friendly
While atomic swap technology is
relatively new, Resistance is not the
first exchange to utilize it. But, until
recently, performing an atomic
ATOMIC SWAPS AND
swap between two cryptocurrencies
THE RESISTANCE
was a difficult process that was not ANONYMOUS DEX
practical for the average user.
Resistance manually performs
cross-chain atomic swaps between
To complete an atomic swap, users regardless various pairs of cryptocurrencies such
were (and on some decentralized of technical as Bitcoin, Ethereum (including its
exchanges, still are) required to know-how. Users ERC20 tokens), EOS, Stellar,
download the complete blockchain can utilize atomic Litecoin, and Cardano.
ledgers of each currency involved to a swaps to quickly trade
local wallet [ 25 ]. This requires ample between 95% of existing
hard-drive space and can takes days cryptocurrencies directly with
to complete. Resistance makes atomic one another without having
swap trading convenient for all users, to download complete blockchain ledgers.

WHAT MAKES THE RESISTANCE ANONYMOUS DEX UNIQUE?

In summary, the Resistance Anonymous DEX stands out because it is the first fully
secure and anonymous exchange empowering users to trade privately, easily,
and directly. The Resistance Anonymous DEX helps to fulfill the original promise of
cryptocurrency by facilitating trade that is:

SECURE & ANONYMOUS DIRECT & EFFICIENT EASY TO USE

Users have the option to route all

Users can trade 95% of existing

No registration or identity
traffic through Tor. cryptocurrencies directly with one verification process required to get


Users retain control of the use of their another utilizing atomic swaps. started.
personal data, such as IDs, wallets,

Users keep coins in their own

Limitless trading with no
and assets, at all times. This is in wallet, not on the exchange or in a withdrawal limits.
accordance with an essential GDPR third-party escrow service.
principle: the individual’s right to

Trade in coins, not derivatives.
choose if any PII is to be used.

Utilizes zk-SNARKs, one of the most


Users have the option to trade efficient forms of zero-knowledge
using RES as an intermediary coin proof, when trading on the
on the Resistance privacy-oriented Resistance blockchain.
blockchain, benefiting from the
enhanced privacy of zero-knowledge
proofs.

17 PART THREE: RESISTANCE DECENTRALIZED EXCHANGE: ANONYMOUS, PRIVATE, AND SECURE / 3.4.3 / 3.5
 PART FOUR

Resistance Blockchain:

Facilitating
Shielded
Transactions

18 PART FOUR: RESISTANCE BLOCKCHAIN: FACILITATING SHIELDED TRANSACTIONS

The Privacy Myth
With so much talk about how secure blockchain technology can be, many people
assume that all cryptocurrencies allow users to make private transactions without
revealing any information about themselves. As we touched on in the introduction
to this whitepaper, this isn’t the case.

PRIVACY IS A HUMAN data, and if we can’t then we don’t dollar was stolen by someone else
RIGHT deserve to serve you.” [ 28 ] before it came into your possession.
The person who was robbed cannot
Privacy is a fundamental right. The Yet, both Facebook and Google are come to you and demand that dollar
right of privacy is not only stated creating advertising profiles of users, back, void its value, or blacklist it. If the
in United Nations Declaration of based on gender, age, education, transaction history of a dollar bill could
Human Rights and all the other major career, interests, search history, app be traced, on the other hand, it could
international human rights instruments, activities, etc. [ 29 ] affect its value and fungibility.
but also protected by the laws in over
100 countries across regions [ 26 ]. A 2015 report from the United Nation’s Bitcoin is not fungible because it does
Office of the High Commissioner not provide users sufficient privacy
But increasingly, governments and for Human Rights says: “Encryption and anonymity. The transaction
private organizations are making and anonymity enable individuals history of every bitcoin is publicly
it more and more difficult for users to exercise their rights to freedom available for anyone to scrutinize.
to operate away from network of opinion and expression in the Centralized exchanges like Coinbase,
surveillance. digital age and, as such, deserve for example, will in some cases block
strong protection.” [ 30 ] Blockchain funds based on your coins’ past
The surveillance-friendly structure technology relies on encryption to transactions [ 31 ]. With zk-SNARKs,
of online technologies is making mask identity. Resistance is upholding it’s possible for RES to have no public
user privacy far easier to invade. But users’ right to privacy by giving them record or history. If users choose
Resistance is different. the option to shield transactions and to send a coin through a private
trades, using encryption to uphold our transaction, its history is essentially
We value user privacy and believe users’ human right to encrypted online erased. As transaction history exists on
in private, anonymous trading. Our activity. the blockchain and is not tied to the coin
commitment to privacy is not only itself, a coin only needs to go through a
for user security. We also believe WITH PRIVACY COMES single encrypted transaction to obscure
that records of financial transactions FUNGIBILITY its entire history and, in turn, achieve
should be kept private too. By fungibility.
shielding transactions and supporting One of the critical differences between
anonymous trades, we protect our coins that aren’t privacy oriented and At Resistance, we believe that privacy
users from third-party interference. fiat currencies is fungibility. Fungibility is a fundamental principle of a
is the property that two units — say a successful monetary system, and if
One of the most prominent examples dollar bill and another dollar bill — are cryptocurrencies are ever going to
of user privacy being exploited both equal and interchangeable. challenge centralized fiat currencies,
in recent years is the Facebook– we need to get it right. That’s why
Cambridge Analytica data scandal In regards to fiat currencies, one we are building on the technology
[ 27 ] Facebook CEO Mark Zuckerberg dollar is always equal to another developed by one of the leading
said in response to the fallout, “We dollar because there is no record of privacy coins in the marketplace:
have a responsibility to protect your its history. It doesn’t matter if your Zcash.

19 PART FOUR: RESISTANCE BLOCKCHAIN: FACILITATING SHIELDED TRANSACTIONS / 4.1 / 4.1.1 / 4.1.2
The Resistance Privacy-
Oriented Blockchain
The Resistance blockchain supports enhanced privacy, anonymity,
and security on the Resistance Anonymous DEX.

The Resistance blockchain is where forgotten is incompatible with any

Based on Zcash, one of the
Resistance coins (RES) are mined and public blockchain network that stores leading privacy coins and largest
where RES to RES transactions can personal data on an unalterable cryptocurrencies in the world,
occur. Resistance Anonymous DEX distributed ledger, including Bitcoin and Resistance uses zero-knowledge proofs
users can choose to use RES as an Ethereum. The Resistance blockchain, to shield the identity of users during
intermediary coin, taking advantage of however, is designed to protect data private transactions.
the privacy features integrated into the rights by giving users the option to
Resistance blockchain. remain anonymous. With anonymity

There is no registration process to
enabled, users will not need to alter or participate, so no personal data is
The recently enacted GDPR data delete their PII because no PII will be collected, and users’ PII is never stored
protection and privacy laws uphold stored or recorded. on the Resistance blockchain.
a user’s right to access and control
their data, as well as “the right to

Using the Resistance blockchain as an
be forgotten,” or to request the intermediary, users can choose to trade
deletion of data. The right to be almost any coin with total privacy.

WHAT IS A ZERO-KNOWLEDGE PROOF?

A zero-knowledge proof is a Zero-knowledge proofs have three SOUNDNESS: If a dishonest prover is

cryptographic protocol, or proof fundamental characteristics: lying, there is no way they can convince
system, by which one party, the prover, an honest verifier they are telling the
can prove to another party, the verifier, COMPLETENESS: If an honest prover truth (within a certain probability).
that they know a particular value is making a truthful statement,
or statement, without conveying or an honest verifier will accept this ZERO-KNOWLEDGE: No verifier learns
revealing any information about that statement as the truth. anything more than the fact that a
value or statement. statement is true.

20 PART FOUR: RESISTANCE BLOCKCHAIN: FACILITATING SHIELDED TRANSACTIONS / 4.2 / 4.3

Enter the
Zero-Knowledge
Cave

A simple way to describe the concept of zero-

knowledge proofs is with the cave analogy. First
published by the world-famous cryptographer Jean-
Jacques Quisquater, this digestible story does a great
job of explaining the fundamental concepts behind
zero-knowledge proofs in layman’s terms [ 32 ]. For
this explanation, Peggy is the prover and Victor is
the verifier.

1   . Peggy knows the magic word that Peggy enters the cave, but Victor means Peggy, without knowledge of
will open a secret door in a cave. doesn’t know whether she followed the secret word, would only have a 50%
Victor doesn’t. Shaped like a ring, on path A or B. chance of guessing the correct answer.
one side of the cave is the entrance,
and on the other is a locked door 4  . Once Peggy is inside the cave, 8  . If this process is repeated, the
separating two halves of the cave. Victor comes to the entrance and yells probability of Peggy guessing
Anybody entering the cave who the name of the path that he wants correctly is diminished. After 20
doesn’t know the secret word will only Peggy to return on. This decision is attempts, she would only have a one in
be able to make it halfway around. made at random. a million chance of success.

2 . Victor wants to find out if Peggy 5  . If Peggy does know the secret word, 9 . If Peggy appears at the entrance
knows the secret word that will open then all she needs to do, if necessary, to the cave every time Victor decides
the door. Peggy doesn’t want to is say it, open the door, and walk along on which route she should take, he
tell him what the secret word is, but the path Victor requested. can safely assume Peggy is telling the
there is a way to prove she has this truth.
knowledge. 6  . If Peggy were lying and didn’t know
the secret word, she would only be able 10  . This system provides Victor with
3  . Victor and Peggy label the paths to return along the same path she had proof that Peggy is in receipt of the
leading off from the entrance. The taken on the way in. information she claims to know while
left path is labeled A, the right path is supplying Victor with zero-knowledge
labeled B. With Victor waiting outside, 7  . Victor’s random selection of A or B of what this information is.

21 PART FOUR: RESISTANCE BLOCKCHAIN: FACILITATING SHIELDED TRANSACTIONS / 4.3.1

A Brief Introduction to
zk-SNARKs
A zk-SNARK is a highly efficient form of zero-knowledge proof that is short and
easy to verify. Zk-SNARKs consist of a single message that can be verified in a
few milliseconds [ 21 ].

Resistance uses zk-SNARKs to verify

Sender address value numerous times until, beyond
encrypted, private transactions on

Receiver address a reasonable doubt, the transaction
the blockchain without revealing any

Input value can be verified without revealing any
information about the addresses

Output value other information and without any
or values involved. Put simply, a interaction between the prover and
zk-SNARK allows you to verify a This information is all posted on the verifier.
computation without executing it or public blockchain for anyone to see,
even learning what was executed. which significantly reduces privacy. The only way to produce zk-SNARKs is
to have an initial trusted setup of public
Bitcoin and many other In practice, zk-SNARKs allow a prover parameters between the prover and
cryptocurrencies link sensitive to prove that they are in receipt verifier. This one-time setup generates
information to their transactions, of a number that solves a specific a common reference string (CRS)
including: cryptographic puzzle. A zk-SNARK for them to share. During this phase,
is publicly verifiable, so anyone can anonymity is never compromised,
verify the proof. The prover comes even if the setup is targeted by a
up with a number that fits the hash malicious actor.

GUARANTEED PRIVACY

Resistance utilizes the power of shielded transactions where the private transactions on the Resistance
zk-SNARKs to support private transaction is wholly encrypted on blockchain, please read the Zcash
transactions on the Resistance the blockchain, but can still be proven description here:
blockchain. Based on this technology as valid by the Resistance network.
inherited from Zcash, Resistance For more in-depth information on https://z.cash/technology/zksnarks.html
gives users the option to send how zk-SNARKs work to facilitate

22 PART FOUR: RESISTANCE BLOCKCHAIN: FACILITATING SHIELDED TRANSACTIONS / 4.3.2

Private and Anonymous
with One Click
Anyone using the Resistance platform has the option to enable or disable its enhanced
privacy and anonymity features. In other words, Resistance supports both shielded
and transparent addresses so users can send payments privately or publicly.

The Resistance Anonymous DEX is Here’s how a private, anonymous 4 . All the transactions in the block are
built around the Resistance privacy- transaction is executed on the validated using various cryptographic
oriented blockchain in order to give Resistance blockchain: techniques. Nothing is revealed about
users enhanced privacy options. the sender or receiver at any point in
While the Resistance blockchain 1   . A wants to send funds to B. the transaction.
is not used for every trade on the
Resistance Anonymous DEX, the 2  . The transaction is routed through 5  . The new block is added to the
DEX makes it easy to trade through the Tor network for anonymity and blockchain. Any additions to the
the Resistance blockchain using shielded using zk-SNARKs. blockchain are permanent and
RES as an intermediary coin. This irreversible.
intermediary exchange shields users’ 3 . The private transaction is broadcast
identities because RES to RES private to all the computers, or nodes, on 6  . B receives funds from A, and the
transactions are validated on the the network as part of a block. transaction is complete.
Resistance blockchain through zero-
knowledge proofs.

WHONIX INTEGRATION

Whonix is a popular anonymity-

focused operating system based on
Tor and virtualization. It is available
for VirtualBox, KVM, and Qubes OS. All
connections originating from Whonix WHONIX ANONYMOUS OPERATING SYSTEM
are routed through Tor, with the
platform providing the highest level of
assurance that applications are never Connection Torified Connection Non Torified

sent through the clearnet. Resistance

Misbehaving or leaky All network connections
will be pre-installed by default in Whonix
applications can’t break out are forced to go through
to encourage early adopters. This will of the Whonix Workstation. Whonix Gateway where
simplify usage and boost the platform’s they are Torified and routed
popularity, as users won’t need to install to the internet.
Resistance manually.

23 PART FOUR: RESISTANCE BLOCKCHAIN: FACILITATING SHIELDED TRANSACTIONS / 4.3.3

HOW TOR WORKS

Alice’s Tor client picks a random

path to destination server

Tor Node Encrypted link Unencrypted link

TOR INTEGRATION

Tor is a global network that facilitates support from Zcash, which in turn a clear, usability-focused alternative:
anonymous internet communication inherits socks5 support from Bitcoin a graphical user interface (GUI) that
and Resistance gives users the option Core. starts Tor automatically once a user
to complete shielded transactions, has read the disclaimer and activated
making the two platforms obvious Technically, configuring Resistance this function.
partners. Core to use a socks5 proxy such as Tor
is as simple as adding the appropriate For legal reasons, users have the
Tor works best with a socks5 proxy. command line options. option to operate on the Resistance
Resistance Core inherits socks5 platform with or without Tor via a
But since using a command line simple on/off switch.
interface requires a certain degree of
technical skill, Resistance also offers If a user enables Tor, the Resistance
Desktop will launch it in the background
before starting Resistance Core.

ANONYMITY ASSURED WITH TOR

Users have the option to route all Tried and tested, Tor has been Of course, just as is the case with
network traffic on the Resistance providing internet users with a the Resistance blockchain’s privacy
blockchain through Tor. By channeling guarantee of anonymity since 2002. functions, users have the option to turn
transactions through Tor, we can The technology works by routing off Tor in favor of a single, identifiable
provide Resistance users with a means transactions through multiple IP IP address.
to avoid network surveillance and addresses, so the point of origin is
retain their anonymity at all times. masked [ 22 ].

24 PART FOUR: RESISTANCE BLOCKCHAIN: FACILITATING SHIELDED TRANSACTIONS / 4.3.4

Scalability

Resistance has taken steps to advance its scalability by Based on that data, let’s calculate the ATS for both Bitcoin
dramatically increasing the transaction throughput that the and Resistance.
network can offer. This is accomplished in two fundamental
ways: BITCOIN

1   . A larger block size We first use formula (1) to calculate ATB:

2 . Shorter block intervals ATB = MBS / 500 ATB =
1,000,000 bytes / 500 bytes =
There are two formulas involved in calculating transaction 2,000 Average Transactions per Block
throughput (transactions per second):
We then use ATB to calculate ATS:
1   . Average Transactions Per Block (ATB) = ATS = ATB / BT ATS = 2000 / 600 =
Maximum Block Size (MBS) / Average Transaction 3.333 Average Transactions per Second
Size (ATS)
2 . Average Transactions per Second (ATS) = We can therefore conclude that, on average, Bitcoin can
Average Transactions Per Block (ATB) / Block Time in process approximately 3.33 transactions per second.
Seconds (BT)
RESISTANCE
To demonstrate the scalability improvements that
Resistance offers, we can compare Resistance to Bitcoin Using the same process we can calculate the throughput
using the above formulas. Based on statistical data from for Resistance.
2017-2018, we will assume an Average Transaction Size (ATS)
of 500 bytes for Bitcoin [ 33 ]. Using formula (1), we see that ATB = MBS / 500 ATB =
ATB = MBS / 500 2,000,000 bytes / 500 bytes =
4,000 Average Transactions per Block
Using this, we can make a mathematical comparison
between Bitcoin and Resistance. ATS = ATB / BT ATS =

Bitcoin Resistance 4,000 / 60 =

66.67 Average Transactions per Second
Maximum Block Size 1 MB 2 MB
(MBS) (1 Million Bytes) (2 Million Bytes)
We can therefore conclude that Resistance is estimated
Block Time ~10 Minutes ~1 Minute* to process approximately 66.67 transactions per
(BT) (600 Seconds) (60 Seconds) second.

*The target Block Time for Resistance is 1 minute. This

value may change slightly in the Mainnet.

25 PART FOUR: RESISTANCE BLOCKCHAIN: FACILITATING SHIELDED TRANSACTIONS / 4.4

What Makes the

Resistance Privacy-
Oriented Blockchain
Unique?
The Resistance blockchain has been developed with three key principles in mind:
privacy, anonymity, and scalability. When it comes to conducting private and
anonymous transactions, we take the complexity away from the user. What’s more,
our commitment to scalability means the Resistance blockchain will always meet
market demands.

PRIVATE AND ANONYMOUS SCALABLE

Unlike most other blockchains, Resistance is

Resistance is estimated to be 20 times faster than Bitcoin.
privacy oriented

Users wait for shorter intervals for transactions to


zk-SNARKs allow users to make shielded, private complete
transactions

More users can participate without any adverse effects


Anonymity on the Resistance blockchain is ensured

Scalability continues to be an issue for cryptocurrency
with Tor platforms in general, but Resistance has taken measures
to increase its throughput significantly.

“Without the history of transactions being obscured,

money doesn’t function so well. This is critical to the
argument around privacy in the blockchain and
cryptocurrency communities.”[ 34 ]
Michael J. Casey, Senior Advisor for blockchain research at MIT’s Digital Currency Initiative

26 PART FOUR: RESISTANCE BLOCKCHAIN: FACILITATING SHIELDED TRANSACTIONS / 4.5

 PART FIVE

Resistance Consensus:

Democratic
Mining and Reward
Splitting

27 PART FIVE: RESISTANCE CONSENSUS: DEMOCRATIC MINING AND REWARD SPLITTING

An Introduction to
Reward Splitting
Resistance creates currency — RES — when blocks are mined through
Proof of Work. Rather than having a central issuer of currency and
transaction recordkeeper, a decentralized network of miners generates
RES by creating blocks of validated transactions and adding them to the
blockchain.

Miners come to a consensus about the halved so that the total supply of important scientific research on our
transaction history while preventing RES is not fully exhausted and mining whitelisted BOINC projects.
double spend and other forms of fraud. remains incentivized.
PROJECT DEVELOPMENT: The final
There are a number of different WITH RESISTANCE, MINERS CLAIM 10% of the block reward is funneled
consensus algorithms out there used A PERCENTAGE OF THE BLOCK back into the open-source Resistance
to update the blockchain securely. REWARD. THE REST IS SPLIT OVER platform to fund its ongoing
Different coins use different validation THREE OTHER AREAS: development.
methods, but the most popular
is Proof of Work, which is used MASTERNODES: 30% of the reward is The Resistance prototype will split
by some of the most well-known allocated to masternodes, or Bonded the block rewards 50/50 between
cryptocurrencies, including Bitcoin, Validator Systems, for the role they Proof of Work and Proof of
Ethereum, and Litecoin [ 35 ]. play in facilitating the smooth running Research. In addition to splitting
of the network. the block reward, Resistance
With Proof of Work, miners compete also splits transaction fees,
to find a solution to a certain PROOF OF WORK: Miners receive which further incentivizes miners,
computational problem in order to 30% of the reward for securing the masternodes, researchers, and
validate a block. Once found, that Resistance blockchain. developers to continue to contribute
block can be added to the blockchain to the future of Resistance, even
and the reward goes to the successful PROOF OF RESEARCH: Another after all RES has been mined.
miner. In the future, the Resistance 30% of the reward goes to users
block reward will be repeatedly who donate computing power to

28 PART FIVE: RESISTANCE CONSENSUS: DEMOCRATIC MINING AND REWARD SPLITTING / 5.1
Masternodes
Unlike regular nodes, masternodes do not participate in mining. Instead, they
perform vital services and, as a result, receive a percentage of the block reward.
Dash initially developed the concept of masternodes, but since then, many different
cryptocurrencies and exchanges have begun using the system for a range of tasks.

Setting up a masternode isn’t maintaining the currency’s voting to deter individuals who set out to
difficult, but it can be costly. To own system [ 37 ]. On the Resistance falsify transactions.
and operate a Dash masternode, platform, masternodes will play a
for example, you will need a stake pivotal role in ensuring the security Masternodes stabilize the Resistance
of 1,000 DASH [ 36 ]. However, there and fluidity of our decentralized network, and the more of them there
are some platforms that facilitate exchange. are, the more stable it becomes.
shares in individual masternodes so That’s why they receive such a large
everybody can take advantage of the Masternodes will speed up the portion of the block reward as an
significant rewards becoming part of a Resistance network. Each masternode incentive.
masternode network affords. will host a full copy of the Resistance
blockchain and help achieve
In the case of Dash, masternodes consensus quickly and efficiently.
fulfill many tasks including aiding Furthermore, masternodes enhance
faster, more private transactions, and security on the blockchain by helping

WHY MASTERNODES?

Resistance masternodes provide While the reasons for these roles may choose to join mining pools rather
additional benefits to the network and not seem evident at first, they are than mine Resistance directly. When
receive 30% of every block reward. critical to both the security and speed users start mining in pools rather than
Resistance masternodes fulfill two key of the Resistance network. on their own full nodes, the number of
roles: full nodes on the network decreases.
It is crucial that many Resistance users This pushes the network towards
1   . Incentivizing people to run full run full nodes that contain the entire centralization, which is a threat to
nodes on the Resistance network current Resistance blockchain. As blockchains that solely rely on Proof
2 . Incentivizing users to hold on to Resistance grows and mining becomes of Work.
their RES more competitive, many users will

29 PART FIVE: RESISTANCE CONSENSUS: DEMOCRATIC MINING AND REWARD SPLITTING / 5.2
It is also essential that the Resistance is laying the foundation for future 30% of the total block reward is
cryptocurrency maintains a stable and improvements to the network. Further dedicated to these dividends. As
accurate value, and that it isn’t used down the line, when ownership of this rewards program operates on a
by wealthy individuals to “pump and Resistance has been decentralized fixed percentage, and the number of
dump” the Resistance coin supply. and handed over to the Resistance masternodes will fluctuate, expected
“Pumping and dumping” is the process Foundation, the community can use rewards will vary according to the
by which perpetrators acquire a the masternode framework to add current total number of masternodes
large number of coins at a low price, support for additional functionality, in operation.
artificially increase the value of that such as governance (voting), real-time
coin to create hype, and, in turn, drive double spend protection, and platform You can calculate payments for
up prices. development. a standard day running a
masternode with the following
When other potential buyers see these MASTERNODE REWARD PROGRAM formula:
huge price spikes, they are encouraged (n/t)*r*b*a
to purchase coins. At that point, the To run a masternode, a Resistance
perpetrators “dump” their coins for a node must hold a minimum of 100,000 Where:
huge profit and the price tumbles. RES in their Resistance wallet where n is the number of masternodes an
they also have the full node of the operator controls
To help mitigate this issue, and to Resistance blockchain, although this t is the total number of masternodes
control the stability of the coin, number could fluctuate in response r is the current block reward
Resistance masternodes are to RES coin price and changes to (currently 100 RES)
required to hold a certain number block reward policy. When active, b is blocks in an average day
of RES at all times to maintain nodes provide services to clients on a is the average masternode
masternode status. This helps the Resistance network and, in return, payment (30% of the average block
motivate users to hold on to their coins are paid in the form of a dividend. amount)
instead of trading or selling them. By Masternodes are paid from the same
supporting masternodes, Resistance pool of money and approximately

Proof of Work
Mining should be for everyone, but are making it so difficult for regular of miners could form a mining monopoly
today, that simply isn’t the case. As we users to obtain block rewards. Some and use their power to influence technical
mentioned earlier in this whitepaper, a mining pools, such as Bitmain’s AntPool, decision-making and control the market.
single company, Bitmain, now controls use ASICs designed for high-efficiency What’s more, the technical know-how
over 40% of Bitcoin mining operations mining to increase profits on block needed to start a mining operation is
[ 38 ]. But this level of inequality isn’t rewards, giving an unfair advantage to usually way above that of many first-
unique to Bitcoin and affects most miners with more hashing power [ 39 ]. timer’s. But Resistance is challenging the
cryptocurrency mining operations. In fact, most hashing algorithms give norm, using a CPU-optimized hashing
users with superior computing power algorithm and easy-to-operate interface
It’s not just massive mining farms that this advantage. This means a small set to make mining more accessible.

30 PART FIVE: RESISTANCE CONSENSUS: DEMOCRATIC MINING AND REWARD SPLITTING / 5.2 / 5.3
Democratic and
Accessible Mining
Democratic mining on the Resistance blockchain is guaranteed by its CPU-optimized
hashing algorithm with rewards distributed over Proof of Work, Proof of Research,
masternodes, and project development.

CPUs, GPUs, and FPGAs can all be algorithm based on scrypt and the In comparison:
converted into ASICs and used to mine newer yescrypt [ 40 ]. CPU-optimized, SHA-256 ASIC = ~1000x potential
a particular coin. Today, Resistance is it favors the standard CPUs you’ll gains over GPU
CPU-optimized and working towards find in regular laptop and desktop
becoming practically ASIC-resistant. computers. The algorithm combines Equihash ASIC = ~100x potential gains
computationally expensive and over GPU
Resistance is democratizing the mining sequential memory-hard hashing
process with an easy-to-use Desktop in a way that slows down GPUs to We believe that every user should
Wallet/Miner utilizing the yespower CPU-like speeds, and limits potential have an equal opportunity to obtain
algorithm. Our unique hashing advantages for FPGAs and ASICs. If block rewards in an arena where
algorithm was developed by the someone did decide to build an ASIC standard CPUs can compete with
world-renowned cyber security expert for Resistance, the gains in efficiency GPUs, FPGAs, and specialized ASICs.
Alexander Peslyak, who also helped would be orders of magnitude smaller This is why Resistance is committed
develop the hashing algorithms for than an ASIC built for coins that are to becoming practically ASIC-
Zcash. Specifically designed for Proof not GPU or CPU-optimized. resistant.
of Work use, yespower is a hashing

PROOF OF WORK ON THE RESISTANCE BLOCKCHAIN

There are many Proof of Work parameters for advantages over other have with Bitcoin and Litecoin. FPGAs,
schemes and they vary in different CPU-optimized cryptocurrencies, such on the other hand, might not pose
ways, including their bias for and as Monero’s CryptoNight, which we a significant threat to CPUs as large
against different types of hardware. will do for the Mainnet. Unfortunately, FPGAs are even more “overpriced”
being GPU-unfriendly also means that than large CPUs. In addition to the
Resistance uses the yespower hashing future FPGA and ASIC implementations competition from specialized ASICs,
algorithm, which has been designed could lead to competition with CPUs CPU production costs are another
to be CPU-friendly yet GPU-unfriendly, as Resistance increases its market critical factor to consider. The cost
and offers less benefits to FPGA/ASICs. value. ASICs are likely to win in the long of producing a CPU is only a fraction
Using yespower allows us to tweak our run, but not to the extent that they of its list price and an even smaller

31 PART FIVE: RESISTANCE CONSENSUS: DEMOCRATIC MINING AND REWARD SPLITTING / 5.3.1
percentage of the cost to build a full to the, say, 100,000x we’d have without Combined, these factors will reduce the
computer system. trying. However, similar improvement incentive to create and purchase ASICs,
factors are not low enough to achieve result in suitable ASICs resembling
Custom-built ASICs could amortize a long-term practical ASIC resistance for high-end/many-core CPUs and RAM,
great deal of expense by packing more cryptocurrencies. and reduce their effect on the network.
cores and chips into a system without
using it as an opportunity for market We intend to address the inherent If ASICs eventually become suitable for
segmentation, as most high-profile advantage of ASICs over CPUs in two efficient general-purpose computation,
CPU manufacturers do. ways: it would be a net win for users of
computer systems in general, and
They can also avoid much of the 1   . We will proceed with further a point where we’d stop revising
overhead of additional hardware research and experimentation in an yespower to discourage such ASICs.
components like disk controllers, and attempt to improve yespower to make
avoid many supply chain markups more use of RAM while resisting DoS We would have provided enough
that impact the price of a complete attacks on the network. This will be demand for many-core CPUs and/
computer. achieved using a novel method to or large FPGAs so that it’s no longer
early-reject invalid proofs. If successful, a niche market, forcing their prices to
There’s a lot of talk about ASIC this will bring us closer to meeting drop. Similarly, the demand for gaming/
resistance in the cryptocurrency Zcash’s original, but unachieved, goal mining GPUs keeps them several times
world. However, this ultimately comes of making the amount of RAM you cheaper than comparably fast high-end
down to minimizing the advantages of have dictate how much mining work GPUs aimed at the scientific high-
specialized ASIC hardware. your hardware can complete. performance computing market.

Limiting advantages at password- 2 . We are committed to updating

based cryptographic key derivation yespower in anticipation of, or
(KDF) to 10x and at password hashing response to, new developments, except
to 100x may be considered ASIC- as stated below.
resistant, especially when compared

Resistance Desktop
Wallet/Miner
The Resistance CPU-Optimized Miner laptop or desktop computer running with ease. The Resistance Desktop
is integrated with the platform’s macOS or Windows. With a clear Wallet/Miner is convenient and
easy-to-use wallet. All that you need and straightforward interface, our multi-purpose. Users can manage
to begin mining on the Resistance miner allows users that are new to and mine our CPU-optimized coins
CPU-optimized blockchain is a the Proof of Work system to mine from the same place.

32 PART FIVE: RESISTANCE CONSENSUS: DEMOCRATIC MINING AND REWARD SPLITTING / 5.3.1 / 5.3.2
Resistance Desktop
Prototype

The Resistance desktop prototype has One of these features is built-in Tor optimized for mining on the yespower
already been released and is available support. By navigating to the Settings algorithm and is lightning fast.
for users to begin testing. tab and toggling the Tor button, you
can choose whether or not to enable While this process may sound
The prototype has a number of key this feature. complicated, it’s in fact very
features that make it extremely straightforward. All that you need to do
easy for Windows and macOS users When you toggle the button, a is navigate to the Settings pane in the
to get started with the Resistance local Tor proxy service is started Desktop Wallet/Miner and toggle the
Desktop Wallet/Miner including: on your machine. The Resistance miner switch to begin the mining process.
daemon then restarts using the
1   . A modern and intuitive graphical `-proxy=127.0.0.1:9050` flag. The miner will run automatically in the
interface background and, after you successfully
2 . Built-in Tor support From then on, the Resistance daemon mine a block and 100 blocks confirm
3 . A built-in Resistance miner communicates exclusively with the Tor your mined block, you will have access
4 . Transparent (“r”) and private (“z”) proxy on port 9050. This ensures that to the freshly minted block reward.
addresses all traffic sent to and from your local You can then use this coin to make
node has a masked IP that other users transactions with other people.
The prototype is automatically can’t see, thus shielding your identity.
connected to our testnet, so all you Please be aware that Tor is not legal in Mining has never been easier.
need to do is run the application all jurisdictions and you should check
to begin mining and creating your relevant laws to ensure you can One of the most important features
transactions. legally use this feature. of Resistance is the user’s ability to
choose between sending transparent
Enabling non-technical users to easily Another crucial feature is the built-in and private transactions. There are
join and participate in the Resistance Resistance miner. Mining is the two types of addresses supported by
platform is at the forefront of the process of compiling all of the current Resistance: transparent ‘r’ addresses
Resistance vision. transactions being broadcast on the and private ‘z’ addresses. You have the
network into a block and competing choice to send and receive to and from
Our Resistance Desktop Wallet/Miner with others to be the first to generate a either an ‘r’ address or a ‘z’ address
is straightforward to set up. Just valid yespower Proof of Work for it. depending on the level of privacy you
download the application from our want. The following table describes
website and run it on your computer. If you are the winning miner, you will different options for sending funds.
You’ll find a clean, easy-to-use, modern receive a portion of the block reward
interface with many features that can (50% in the prototype, and 30% on
be toggled with just the flip of a switch. the Mainnet). The Resistance miner is

33 PART FIVE: RESISTANCE CONSENSUS: DEMOCRATIC MINING AND REWARD SPLITTING / 5.3.3
From Address Type The Resistance prototype makes this Next enter the address you would like
To Address Type extremely easy. You have the option to send the funds from, and you can
Privacy Level in the Own Addresses tab to generate send them immediately.
multiple ‘r’ addresses and ‘z’
‘r’ address addresses. You can generate as many While those are currently the main
‘r’ address addresses as you want. When people features of the prototype, the project
Transparent (No Privacy) want to send you coins, give them an is growing every day. Be sure to check
‘r’ address for transparency or a ‘z’ back regularly for new releases so that
‘r’ address address for privacy. you can utilize the most up-to-date
‘z’ address features.
Partially Shielded (Some Privacy) When you want to send coins to
someone else, first obtain their
‘z’ address address (‘r’ for transparent and ‘z’
‘r’ address for private). Then, in the Send Cash
Partially Shielded (Some Privacy) pane, click the Private switch for
private transactions and disable it for
‘z’ address transparent transactions depending
‘z’ address on the receiver’s address type.
Fully Shielded (Total Privacy)

Command Line
CPU Miner
Users more familiar with cryptocurrency mining can install our Command Line
CPU Miner, which is compatible with Linux as well as macOS and Windows. Aimed
at advanced users, the Resistance Command Line CPU Miner offers the following
benefits over the more user-friendly Resistance Desktop Wallet/Miner.

IT IS: IT USES:

Faster if you become familiar with

Less memory than a Graphical User
its commands Interface


Compatible with Linux as well as

Less CPU processing power
macOS and Windows

34 PART FIVE: RESISTANCE CONSENSUS: DEMOCRATIC MINING AND REWARD SPLITTING / 5.3.3 / 5.3.4
Proof of Research
Reward splitting is a crucial Resistance pool (respool). The more power to perform complex calculations
characteristic of the Resistance computational power an individual — tasks that would take the individual
consensus. As well as Proof of Work uses, the greater percentage of the institutions hosting projects on BOINC
and masternodes, users can allocate reward they will receive. a considerable amount of time, cost a
computing power to Proof of Research vast amount of money, and involve a
for block rewards. WHAT IS BOINC? lot of human resources.

With this option, instead of BOINC is one of the world’s largest and BOINC harnesses the processing power
participating in mining, users may most powerful distributed computer of the 760,000 plus computers on the
contribute computer time to our networks. This open-source platform platform’s international volunteer
whitelisted BOINC projects. By doing for grid computing hosts a wide network to get these tasks done quickly
so, users are effectively getting paid range of scientific research projects and for free. Resistance rewards users
to make a positive contribution to covering astrophysics, medicine, for contributing computing power to
humanity. climate change, humanitarian causes, our whitelisted BOINC projects, which
and more, and invites volunteers to focus on a series of causes including
The percentage of the block reward donate computer processing power cancer and Alzheimer’s research,
allocated to Proof of Research will to help them achieve their goals [ 41 ]. nanotechnology for clean water,
be split between members of the Volunteers contribute computing molecular biology, and solar power.

PROOF OF RESEARCH REWARDS AND BOINC

Resistance empowers its users to wallet uses a P2SH address that is wallet funds may be distributed hourly.
change the world for the better currently signed by one trusted user,
and make money in the process. but may later be expanded to require If an attacker or malicious insider
By contributing compute resources the signatures of multiple trusted were to compromise the Resistance
to BOINC projects, Resistance users to help increase security via research wallet, they would only be
researchers receive a sizeable portion decentralization. able to steal the rewards accrued since
(50% in the prototype and 30% in the the last payout.
Mainnet) of every block reward and At least once a day, the entire
transaction fee that occurs on the balance of the Research wallet is Resistance users can start helping
Resistance blockchain. automatically distributed among all of the world and accruing these rewards
the research pools that are registered immediately by joining a Resistance
Every time a new block is mined on with Resistance. By distributing the pool (such as https://www.respool.io). In
the Resistance blockchain, 30% of the wallet’s funds frequently, the wallet’s the future, Resistance researchers will
block reward and transaction fee is value will remain low, making it a much have the option to create and register
sent to a dedicated research wallet. less appealing target for hackers or their own pools with the Resistance
This wallet accrues balance as more other malicious actors. As Resistance platform, giving them more flexibility in
and more blocks are mined. The becomes more valuable, the research how they conduct their research.

35 PART FIVE: RESISTANCE CONSENSUS: DEMOCRATIC MINING AND REWARD SPLITTING / 5.4 / 5.4.1
Get Paid to Change
the World
STEP ONE: Desktop Wallet/Miner, if they haven’t PROJECT DEVELOPMENT
INSTALL BOINC CLIENT already. A wallet address is needed
It’s straightforward to get started with during the registration process for Once the block reward has been split
Proof of Research for Resistance. The joining respool, so this step is vital. between masternodes, Proof of Work,
first thing that a user needs to do is Once the wallet is installed, users need and Proof of Research, the remaining
install the correct BOINC client on the to synchronize with the blockchain. 10% is set aside for project development.
computer, or computers, that they Users can only receive Resistance Key areas to consider are:
intend to use for BOINC research. For block rewards via Proof of Research
some projects, users will be required to through a pool. At this stage, respool

Marketing

Software

install VirtualBox too. The installation is the only option, but moving forward,

Governance Development
process for Linux, macOS, and we anticipate that users will start

Legal

Windows differs, but in each case, it is alternative pools as the Resistance

a relatively simple procedure. network grows. Pre-ICO, distribution of funds and
general governance will be the
STEP TWO: STEP THREE: responsibility of the centralized
DOWNLOAD THE RESISTANCE CHOOSE A WHITELISTED BOINC Resistance team. Post-ICO, this
DESKTOP WALLET/MINER PROJECT process will be decentralized with the
After installing BOINC, users are The final step is to choose from our responsibility and rewards handed
required to download the Resistance whitelisted BOINC projects. Then users over to the Resistance Foundation.
are free to start making a difference
and earn while they do it.

RESISTANCE BOINC POOL then uses this data to calculate user complete, it sends the project back
contribution parameters, or magnitude. for validation. When the results are
The pool wallet receives rewards That magnitude is used for calculating validated, the BOINC project adds score
from new blocks. Then pool software user rewards. New users register, then points to that user account. There are
calculates reward amounts before attach the BOINC manager to the pool two scores: total and recent average
distributing them between contributors as an account manager. The pool then credit (RAC). The pool utilizes recent
to whitelisted BOINC projects according sends a key that allows the user to average credit, which is calculated
to their contribution to the pool securely attach the host to a BOINC using an exponentially weighted moving
account. Each BOINC project has an account without full access to the average.
internal scoring system, and each user pool’s BOINC account. Using the key,
score is publicly available via its RPC the host attaches to the pool account For detailed descriptions and
interface. The pool collects data from in the BOINC project, receives tasks, instructional videos visit
whitelisted projects, normalizes them, and crunches them. When a task is https://www.respool.io.

36 PART FIVE: RESISTANCE CONSENSUS: DEMOCRATIC MINING AND REWARD SPLITTING / 5.4.2 / 5.4.3 / 5.5
 PART SIX

Resistance
Roadmap

37 PART SIX: RESISTANCE ROADMAP

Resistance Roadmap
The Resistance core team has been researching blockchain cryptography and security experts came together to start
technology and mining various cryptocurrencies since work on the Resistance open-source platform at the 2017
2011. After years of independent research, this group of DEF CON conference in Las Vegas, Nevada.

2018 Q1: Extensive Blockchain Research: Existing privacy protection on

blockchain solutions is thoroughly researched and tested

2018 Q2: Closed First Financing Round: Completed seed financing in Silicon Valley, California

Legal: Company infrastructure setup and legal review

Resistance Prototype: Reward Splitting v1.0 including Proof of Work (CPU-optimized

Miner) and Proof of Research (BOINC/Pool)

2018 Q3: Testnet Alpha: First version of the testnet for the CPU-optimized
coin released

Resistance Wallet with Integrated CPU Miner: Alpha version of

the Resistance Wallet with its CPU Miner released for macOS and
Windows

Tor Integration for Stealth Transfers: Option to have all traffic

routed through the Tor network in the Resistance Wallet for
enhanced anonymity

Integration of Resistance Wallet into Whonix: Whonix is a desktop

operating system designed for advanced security and privacy

Whitepaper: Whitepaper released with a targeted marketing

campaign for Pre-ICO

Public Website Live: Open for KYC and Whitelist applications

Public Crowdsale: The crowdsale will begin at 12:00 UTC

October 1st, 2018 and end at 23:59 UTC on October 31st, 2018

Listing on Various Exchanges: RES, the Resistance coin, will be

listed on some of the largest and most popular exchanges

38 PART SIX: RESISTANCE ROADMAP

 2018 Q4: Testnet Beta: Second version of the testnet for the CPU-optimized
coin released

2019 Q1: Fiat Gateways: Ability to buy cryptocurrencies with credit cards on
the Resistance Anonymous DEX

Mainnet Released: Fully functional CPU-optimized Resistance

blockchain publicly available

Hardware Wallet Integrations: Support added for the Resistance

coin in various hardware wallets

Resistance Anonymous Decentralized Exchange – Alpha:

Integrated with the Resistance Wallet

2019 Q2: TOP 50 Market Cap: Our primary goal is to make Resistance a
TOP 10 cryptocurrency by market cap

Decentralize Ownership of Resistance with Community

Handover: Post-ICO, ownership of Resistance will be
relinquished to the Resistance Foundation

39 PART SIX: RESISTANCE ROADMAP

 PART SEVEN

Resistance
Crowdsale

40 PART SEVEN: RESISTANCE CROWDSALE

Committed to Best
Practice
At Resistance, we believe there should TIMELINESS: Now is the ideal time to PRIVATE SALE
be procedures in place that standardize bring Resistance to the market. Building
how ICOs are organized, undertaken, on first-generation decentralized For the private sale, 25.2 million tokens
and managed. We are proposing an ICO exchanges, Resistance is entering a (42% of tokens) will be available
that adheres to the following principles. competitive field with a superior offering to purchase. The hard cap will be
that solves many of the issues that have $10.4 million and each token will cost
VISION: Resistance is developing a hindered the widespread adoption of $0.41284, which equates to 2.422246
decentralized, democratic, and user- cryptocurrencies. tokens to the dollar.
friendly platform where anyone can
participate freely and securely. Built STRONG UTILITY VALUE: RES functions Purchasers will receive a 25% discount
by a team of cybersecurity experts, as a coin to facilitate transactions on the public sale price.
the core values of anonymity, privacy, and trades and can be used as an
decentralization, and democratic mining intermediary on the Resistance
are at the forefront of its development. Anonymous DEX.

STRATEGY: The Resistance open- EXPERIENCE AND PROFESSIONALISM: PUBLIC SALE

source platform has been developed The Resistance core team consists of
with the long-term goal of relinquishing highly skilled, well-known developers and The Resistance public crowdsale is
control, financial gain, and development cybersecurity experts. Team members scheduled to start at 12:00 UTC on
decisions to the Resistance Foundation have both founded and contributed to October 1st, 2018 and end at 23:59
post-ICO. a number of renowned security projects UTC on October 31st, 2018. In total,
including Whonix and OpenWall. Resistance will generate 60 million
RISK ASSESSMENT: The Resistance team tokens. The maximum supply will be
have taken steps to identify potential LEGALITY: Founders have consulted 126 million.
market malfunctions and put forward legal experts and followed all KYC, AML,
a feasible product that improves on and CFT regulations. Additionally, some During the public sale, 13.8 million
existing technologies. There are no legal core principles of the GDPR were taken tokens (23% of tokens) will be available
obstacles in our path, and a prototype into account during the development to purchase with a hard cap of $7.6
wallet is available for testing on the of Resistance, including users’ ability to million. The token price will be $0.55046,
Resistance testnet. control the use of their own PII. which equates to 1.816662 tokens to the
dollar. There will be no general discount
CLEAR REVENUE MODEL: Resistance LIQUIDITY: RES will be available on offered during the public sale, but there
will adopt a reward-splitting protocol several public exchanges to encourage will be referral rewards built in to the
that includes 10% of block rewards being liquidity. KYC dashboard.
funneled back in to the platform for
ongoing development and sustainability. SECURITY: As a platform built by All tokens distributed during the private
In addition to splitting the block reward, cybersecurity experts, a secure ICO and public sales will eventually be
Resistance also splits transaction is our top priority. The Resistance converted to RES through a smart
fees, which further incentivizes miners, community will always be kept up to contract.
masternodes, researchers, and date with our developments for peace
developers to continue to contribute to of mind, and we have a clear roadmap
the future of Resistance. with project milestones.

41 PART SEVEN: RESISTANCE CROWDSALE / 7.1 / 7.2 / 7.3

Token Allocation
THE REMAINING TOKENS Airdrop: 2.1 million Sale proceeds will be distributed
GENERATED FOR THE CROWDSALE Strategic Partners: 4.8 million over a number of areas including
EVENT WILL BE ALLOCATED AS Team/Founders/Advisors/ exchange listing, legal/taxes, marketing,
FOLLOWS: Contributors: 10.2 million development/salaries, founders, and
Reserve: 3.9 million strategic partners.

42% 23%
Private Sale/VC Public Sale

17%
Team/Founders/Advisors/Contributors

8% 6.5%
Strategic Partners Reserve

3.5%
Airdrop

TOKEN SALE

We will issue Resistance tokens during ISSUANCE Available for purchase

Pre-ICO and ICO, with the amount fixed (Private and Public Sales):
to 60 million tokens. Token type: 39 million tokens
ERC20 based token on Ethereum public (plus Airdrop 2.1 million,
The token will initially be released on blockchain Strategic Partners 4.8 million,
the ERC20 (Ethereum) platform, where Team/Founders/Advisors/Contributors:
it will remain until the genesis block of Maximum supply: 10.2 million,
the Resistance blockchain has been 126 million Reserve 3.9 million)
created. Following this, we will convert
tokens to the Resistance coin (RES) on Emission rate:
demand, using the Resistance online No new coins will be minted after
portal. The token will have 18 decimals. the ICO.

42 PART SEVEN: RESISTANCE CROWDSALE / 7.4

Blockchain Parameters

The parameters listed below are FINANCIAL Assuming pre-mine of 60 million RES,
relevant to the Resistance prototype. our prototype’s controlled supply
Some of them, such as difficulty Total supply: curve results in a supply of 100 million
adjustment rate and block reward 126 million RES (about 80% of total) by 3 million
halving interval, are subject to blocks (approx. 6 years), 113 million
independent changes. Pre-mine: RES (about 90% of total) shortly after
Up to 60 million tokens for the ICO 5 million blocks (approx. 10 years),
If we make changes to other (ERC20 tokens converted into RES 120 million RES (about 95% of total)
parameters, like block interval, we’ll coins once mainnet is released), at around 8 million blocks (approx. 15
ensure that adjustments are made to team, founders, advisors, marketing, years), 125 million RES (just over 99%
achieve a level of performance and reserves, airdrop, strategic partners, of total) shortly after 13 million blocks
controlled supply curve similar to those exchange listing, contributors (approx. 25 years), and the total supply
we illustrate here. potentially reached after 65 million
Public mining block reward: blocks (approx. 125 years).
TECHNICAL Up to 20 RES

Consensus technology: TIMELINE

Proof of Work - yespower:
CPU-optimized, GPU-unfriendly Slow start:
43,200 blocks (1 month), block reward
Maximum block size: growing linearly from 0 to 20 RES
2MB (2,000,000 bytes)
Block reward halving:
Target block interval: Every 2,185,600 blocks (approx. 4
1 minute (on average; actual block years)
intervals will vary)
While we mimic block reward halving
Proof of Work difficulty adjustment: of Bitcoin and Zcash, we do not
Every block, Digishield v3 (maximum literally halve the block reward at
32% down, 16% up) these infrequent events because that
can lead to market instability. Instead,
Coinbase maturity: we reduce the block reward at a linear
100 blocks required before newly mined rate between the block numbers
coins can be spent where halving would occur.

43 PART SEVEN: RESISTANCE CROWDSALE / 7.4

 PART EIGHT

Team and
Advisors

44 PART EIGHT: TEAM AND ADVISORS

The Resistance Team
The Resistance platform is built and maintained by a team of renowned
cybersecurity professionals with a proven track record.

The Resistance core team includes for creating the hashing algorithm
the founder and core developer yescrypt, and the newly released
behind the Linux operating system yespower CPU-optimized hashing
Whonix, as well as the founder of algorithm, which is used by
Openwall, who is also responsible Resistance.

Anthony Khamsei Harry Li Luke Wegryn

CEO CFO CTO

Highly experienced cybersecurity Expert Corporate Finance Leader Extremely well-qualified

professional, cryptography expert, and Financial Analyst with experience cybersecurity researcher and former
and entrepreneur with a proven track supporting major Wall Street investors, Cisco Systems Security Engineer with
record in tackling complex cyber including Lehman Brothers Inc., and a long list of security certifications
threats and developing innovative some of Europe’s largest business and a passion for blockchain
security solutions. transactions for Accenture. technology.

LinkedIn LinkedIn LinkedIn

45 PART EIGHT: TEAM AND ADVISORS / 8.1

 Konstantin Alexandrov Alexander Peslyak Patrick Schleizer
CORE DEVELOPER CORE DEVELOPER CORE DEVELOPER

Highly regarded Software Engineer Well-known and respected operating Highly competent ICO Analyst and
responsible for deploying strategic system and network security expert, Founder of the groundbreaking
software solutions for industry-leading Founder and CTO of Openwall, author anonymity-focused desktop operating
organizations including Microsoft. of the widely-used hashing algorithm system Whonix, a Debian GNU/Linux-
yescrypt and the newly released based Linux distribution that provides
LinkedIn
CPU-optimized hashing algorithm privacy, security, and anonymity to
yespower, and former Zcash advisor. users.

LinkedIn LinkedIn

Denis Petrenko Ziya Sang Wison Ye

BLOCKCHAIN DEVELOPER BLOCKCHAIN RESEARCHER SOFTWARE ENGINEER

An expert in blockchain development A talented Project Manager, Brilliant Full Stack Developer
and decentralized exchanges with Researcher, Junior Venture Analyst, specializing in the development of
experience from institutions such as and well-established international software system architecture for large-
LQDEX, Luxcore, and Binary Studio. Research Analyst for leading scale government operations and
blockchain research projects. private, international organizations.
LinkedIn
LinkedIn LinkedIn

46 PART EIGHT: TEAM AND ADVISORS / 8.1

 Vladamir Tsaryov Nikita Abramenkov
SOFTWARE ENGINEER SOFTWARE DESIGNER

Exceptional Software Engineer Multi-talented Software Designer

with wide knowledge of blockchain and Project Lead for web and mobile
technology and a proven talent for applications with previous UI and UX Design
complex web development. experience for major European banks.

LinkedIn LinkedIn

Kieron Allen Alisha Adams Isa Nordeld

LEAD COPYWRITER SENIOR COPYWRITER COMMUNITY MANAGER

Highly trained and well-qualified A sought-after Content Writer Security-focused Social Media
Journalist, Editor, and Copywriter and Strategist with experience professional and MSc in Industrial
with experience producing content creating publications for enterprise Engineering and Management
for internationally distributed BBC clients including Adobe and developing with experience in Search Engine
magazines, news websites, and high-level social media Optimization for innovative technology
multiple technology start-ups. strategies. organizations.

LinkedIn LinkedIn LinkedIn

47 PART EIGHT: TEAM AND ADVISORS / 8.1

Advisors

Ivan Liljeqvist, Dr. David Kravitz,

BLOCKCHAIN ADVISOR BLOCKCHAIN ADVISOR

Well-known Blockchain Developer, entrepreneur, and Cryptographic mastermind with 35 years of experience in
influencer with a background in computer science, telecom, the sector, Vice President of Crypto Systems Research at
and data analysis. Founder of Ivan on Tech YouTube channel DarkMatter, former IBM researcher, key contributor to the
(180k subs), ToshiTimes.com (200k monthly readers), and Ivan Linux Foundation Hyperledger Project, and inventor of the
on Tech Academy (10,000 active students). LinkedIn Digital Signature Algorithm (DSA). LinkedIn

Han Verstraete, Erik Vesterlund,

LEGAL ADVISOR BUSINESS DEVELOPER

Han is Founder and CEO of otonomos.com which helps clients Co-founder of Stockholm Blockchain Group and BLOXPO
set up and manage companies in crypto-friendly jurisdictions with a background in Business Development and
including Singapore, Cayman Islands, Hong Kong, and Entrepreneurship. A familiar face helping both Swedish and
Switzerland, etc. LinkedIn international blockchain companies grow. LinkedIn

Filip Martinsson, Tommy Spiering,

BLOCKCHAIN ADVISOR GDPR ADVISOR

Blockchain entrepreneur and an early adopter of Bitcoin, CEO Dynamic Information Security and Privacy Officer, Consultant,
of Stockholm Blockchain Group, and Co-Founder of BLOXPO. and GDPR expert with an intricate knowledge of international
Runs one of the largest online learning communities for data protection legislation. LinkedIn
blockchain and cryptocurrencies. LinkedIn

Vlad Ovtchinikov, Daniel Söderberg,

IT SECURITY ADVISOR BUSINESS ADVISOR

Cybersecurity Researcher at the major multi-national bank President of EyeOnID, a publicly-traded company that
Santander, Trainer at Black Hat Conference, Certified Ethical provides proactive identity protection services through a
Hacker, and accomplished security expert. LinkedIn variety of state-of-the-art products and solutions. LinkedIn

Nima Sharifat, Matthew Cummings,

TECHNICAL ADVISOR TECHNICAL ADVISOR

Lead Blockchain Developer at Nasdaq creating new Senior Site Reliability Engineer at cybersecurity giant Carbon
blockchain-based solutions for one of the largest stock Black, accomplished Backend Developer, and fluent in
exchanges in the world. LinkedIn multiple programming languages and tools. LinkedIn

48 PART EIGHT: TEAM AND ADVISORS / 8.2

 PART NINE

Conclusion

49 PART NINE: CONCLUSION

Conclusion
Resistance is the first anonymous, decentralized
exchange and privacy-oriented blockchain.

Centralized exchanges lack security

while first-generation decentralized
brand new industry: crypto farming.
Massive mining operations using
Resistance.
exchanges are slow and difficult to high-end, specialized hardware Trade freely,
mine fairly.
use. The easy-to-use Resistance are making it impossible for the
Anonymous DEX is built around a average miner to compete for block
privacy-oriented blockchain and rewards. Resistance is working toward
facilitates private, peer-to-peer trading becoming practically ASIC-resistant to VISIT
without the need for a middleman. prevent such activity. With democratic, https://www.resistance.io
CPU-optimized mining, and Proof
For years, most of the world’s best- of Research that allows users to CONTACT
known blockchains have been ignoring contribute to real-world scientific [email protected]
user privacy in favor of transparency. projects, Resistance is a force for
The Resistance blockchain builds good. COMPANY NAME
on Zcash technology, shielding Resistance Blockchain Technology
transactions through zero-knowledge We’re doing things differently, Limited, Cayman Islands
proofs and providing users with the upholding user privacy and anonymity,
privacy they deserve. bringing mining back to regular
people, and giving a percentage of
The growth and success of block rewards to users committed to
cryptocurrencies has given rise to a changing the world for the better.

50 PART NINE: CONCLUSION

 PARTS TEN . ELEVEN . TWELVE

Legal Disclaimer,
Glossary of Terms,
End Notes

51 PARTS TEN . ELEVEN . TWELVE: LEGAL DISCLAIMER, GLOSSARY OF TERMS, END NOTES
Legal Disclaimer

10.1 INFORMATION English version of this Whitepaper. 10.4 TAX OBLIGATIONS

PUBLISHED IN THIS Translations are provided only as
WHITEPAPER an aid to readers to mitigate any Users are solely responsible to
misinterpretations of this Whitepaper. determine what, if any, taxes apply to
This whitepaper (the “Whitepaper”) Should any conflict between the transactions made with the Resistance
is intended to provide readers English language version and the coin or trades conducted through the
with general information and translated version of this Whitepaper Resistance Anonymous DEX.
documentation. You should not consider be found, the English language version
any information in the Whitepaper shall take precedence. If you discover The owners of, or contributors to,
legal advice, business advice, or advice any discrepancies, please report them the Resistance platform are NOT
of any sort. Any actions motivated directly to Resistance. responsible for determining the taxes
by or based on the contents of this that apply to transactions made
Whitepaper are taken at your own risk. 10.3 INVESTMENT with the Resistance coin or trades
CONCERNS conducted through the Resistance
You are advised to contact a licensed Anonymous DEX in any jurisdiction,
attorney in the relevant jurisdiction Investors in the Resistance coin anywhere in the world.
in which you need help if you decide or currencies acquired through
to take or not take action. The the Resistance Anonymous DEX Resistance does not condone,
owners of and/or contributors to this should expect prices and value to encourage, or knowingly facilitate
Whitepaper are in no way responsible fluctuate widely and unpredictably. tax avoidance in any form, or in any
for operations, decisions, or any other The investors should understand jurisdiction.
behavior motivated by or based upon that investment in the Resistance
the contents of this Whitepaper or the coin or currencies obtained through 10.5 NO WARRANTIES
Resistance platform. the Resistance Anonymous DEX EXPRESSED OR IMPLIED
can lead to loss of money and/or
10.2 TRANSLATIONS OF cryptocurrency value. The information All content, data, resources, and
THE WHITEPAPER published in this Whitepaper cannot services provided in this Whitepaper
guarantee that investors will not lose and on the Resistance platform are
Versions of this Whitepaper money over short or long periods of provided “as is” without any warranties
may contain translations of the time. of any kind.

52 PART TEN: LEGAL DISCLAIMER

10.6 DATA PROTECTION intending to acquire RES tokens must expenses, and benefits of purchasing
be mindful that both the Resistance RES tokens during the crowdsale and, if
Resistance has been conceived to business model and the information necessary, obtain independent advice
respect the General Data Protection in this disclaimer may alter or require in this regard.
Regulation (GDPR) protecting modification as a result of emerging
individuals’ data privacy rights. The regulatory and/or compliance Any interested person who is not in
Resistance Anonymous DEX, Resistance requirements from any jurisdictions. a position to accept or understand
blockchain, and Resistance pool the risks associated with the activity,
(respool) are designed to support the Under these circumstances, anyone including any risks related to the
essential principles set by the GDPR: intending to acquire RES tokens non-development of the Resistance
understands that neither Resistance platform and operations, or any other
The Resistance platform collects a bare nor any of its affiliates shall be held risks as indicated in the Whitepaper,
minimum of Personally Identifiable liable for any loss or damages caused should not acquire RES tokens at any
Information (PII); by such changes. stage.

When using the available privacy Please note, this document is provided RES tokens do not provide any rights
options of the Resistance platform, for your information only and on dividend or interest. The RES token is
users may request access, alteration, under no circumstance should it be final and nonrefundable. The RES token
and/or deletion of PII, in accordance considered an attempt by Resistance is not a share and does not have a
with GDPR. to promote or sell stocks or securities particular value outside the Resistance
on its platform or any other related or platform or another affiliate platform.
10.7 LIMITATION OF associated company’s platform. The purchase and use of RES tokens
LIABILITY must not be done speculatively.
RES tokens should not be considered
Unless otherwise required by law, an investment and, although the The RES token could be affected by
the owners of and/or contributors to Resistance team will, to the best of emerging technology, like quantum
this Whitepaper and the Resistance its ability, proceed with the project computing. These technological
platform shall not be liable for loss of as described within this Whitepaper, breakthroughs could result in security
data, loss of profits, loss of use, or any certain unforeseen circumstances breaches and/or theft. All funds
damages, forfeitures, and violations might cause the project to change, generated during Pre-ICO and ICO are
connected with the information or end altogether. RES tokens can at in no way insured against such, or any
contained in this Whitepaper or on the no time be considered an official, or other, technological developments or
Resistance platform. legally binding, investment of any form. any other threat.
Purchasing RES tokens is done so at
10.8 TOKEN SALE your own risk. If the Resistance crowdsale is canceled,
any funds collected will be returned to
Regulators are judiciously examining Acquiring and storing RES tokens the wallets of the respective investors.
companies and procedures associated carries various risks, including that
with cryptocurrencies, so it’s possible Resistance may be unable to launch its
that future supervisory measures, operations and develop the platform.
inquiries, or actions may affect how the Latest Amendment
Resistance platform generates funds Before acquiring RES tokens, you This disclaimer was amended for the
and limit its ability to grow. Anyone should carefully consider the risks, last time on July 30, 2018.

53 PART TEN: LEGAL DISCLAIMER

Glossary of Terms

A B
Anonymity: The ability to operate Block: Each block contains a collection Command Line Interface (CLI): A CLI
without revealing users’ identities. of transactions. Once validated, blocks is a text-based interface that facilitates
are added to the blockchain. interactions with applications and
ASIC: An Application-Specific Integrated [See Blockchain] operating systems.
Circuit (ASIC) is an integrated circuit
customized for a specific use, such as Blockchain: A decentralized ledger CPU: A computer’s central processing
mining cryptocurrency blocks. Unlike upon which every transaction is unit (CPU) performs all of its basic,
CPUs, ASICs are not designed to permanently recorded. The blockchain everyday operations and calculations.
perform general computational tasks. cannot be undone or altered.
CPU-Optimized: A mining protocol
ASIC-Resistant: A mining protocol that BOINC: The Berkeley Open that favors the CPUs found in standard
is not biased toward ASIC chips. Some Infrastructure for Network Computing laptop and desktop computers.
algorithms, like yespower, offer minimal (BOINC) is an open-source software [See CPU]
advantage to ASICs and, combined with platform for grid computing that
stated intent to tweak the algorithm utilizes computing power donated by Cryptocurrency: A digital asset that
as needed to maintain this property volunteers. functions as a medium of exchange
in anticipation of or response to new using complex cryptography to secure

C
developments, reduce the incentive to monetary transactions, regulate the
create ASICs and, more importantly, creation of new units, and validate the
reduce their effect on the network. legitimacy of transfers.
[See ASIC] Centralized: When a small percentage
of parties are in control of a particular Cryptography: The use of sophisticated
Atomic Swap: Technology that allows service. mathematics to secure information.
users to exchange one cryptocurrency
with another cryptocurrency without Coin: Cryptocurrencies are virtual
putting funds in escrow. The atomic currencies. Cryptocurrency units are
swap also follows a strict protocol to often referred to as coins. The words
ensure that each party is held cryptocurrency and coin are often used
accountable for their side of the trade. interchangeably. [See Cryptocurrency]

54 PART ELEVEN: GLOSSARY OF TERMS

 D G K
Decentralized: A service that operates GDPR: The General Data Protection KYC: Acronym for Know Your Client or
without a central authority. Regulation (GDPR) is a regulation Know Your Customer. A regulatory bank,
in European Union (EU) law on data financial advisory, and business process
Decentralized Exchange (DEX): An protection and privacy for individuals used to verify the identity of clients,
exchange that is not restricted to a within the EU. [See PII] ensure compliance, and assess the
central server. potential risk of illegal intentions.
GPU: A graphics processing unit (GPU)

L
Desktop Wallet/Miner: An all-in-one is a specialized circuit initially designed
desktop wallet that integrates mining to create and alter images at speed.
and trading platforms. They are more efficient than standard
CPUs at processing large amounts, Ledger: A list of transactions and
Distributed: A network of peers who and certain types, of data. They can balances.
interact without the need for a central often perform tasks in parallel that

M
server. traditional CPUs cannot.

E H Masternode: Unlike regular nodes,

masternodes cannot be used for
Encryption: Cryptographically secured Hash: A cryptographic hash function mining. Instead, they perform vital
information that can only be decoded is an algorithm that turns any amount services on the Resistance Anonymous
by authorized parties. of data into a fixed-length string of DEX and blockchain such as increasing
characters that cannot be reversed to the performance and security of the
Escrow: The process by which a third determine the original data. network. [See Nodes]
party receives and distributes funds
during a transaction. Funds are held Hashed Timelock Contract (HTLC): Miner: A computer, or collection
in escrow until all conditions of a A smart contract used to implement of computers, that carries out
transaction are met. time-bound transactions, such as computational tasks to contribute blocks
atomic swaps, without risk. Recipients to the blockchain. Normally, a reward is
Exchange: A platform that allows users of a transaction must acknowledge given to successful miners.
to trade cryptocurrencies, including fiat receiving payment by generating

N
currencies in some cases. cryptographic proof by a deadline or
forfeit the payment, returning it to the

F
payer.
Node: A participant in a blockchain

I
network. Each node retains a copy of
Fiat Currency: Physical money, paper the complete blockchain.
or coins, made legal tender by a

O
government. Initial Coin Offering (ICO): The
process of raising funds for a new
FPGA: A field-programmable gate cryptocurrency venture. Investors
array (FPGA) is a customizable receive tokens in return for their Open-Source: Software that is freely
integrated circuit. FPGAs are chips that investments. distributed and publicly modifiable.
can be reprogrammed for specific
tasks, like mining.

Fungibility: The property of all units

of a given currency being equal and
untainted by previous transactions.

55 PART ELEVEN: GLOSSARY OF TERMS

 P R
Peer-to-Peer: When computers or Resistance: An anonymous, Transaction: The transfer of a
users communicate directly and not decentralized exchange with a privacy- unit of currency from one user to
through a centralized body. oriented blockchain combining Proof of another. Cryptocurrency transactions
Work and Proof of Research for block are recorded on a blockchain and
PII: Personally Identifiable Information rewards. can be verified by all users in the
(PII) is information that can be used system.
to distinguish individual identity either Reward Splitting: The process of

W
on its own or in context with other dividing a reward earned for validating
information, such as name, account a new block on the blockchain between
numbers, social security number, multiple parties.
biometric records, and more. Wallet: A software / web-based

S
program or a hardware device
Privacy: The ability to shield used to store and provide access to
information that users don’t want in the cryptocurrency assets.
public domain. Scalability: The capacity of a
blockchain network to process Wallet Address: A string of
Private Address: An address that is not transactions for mainstream uses. alphanumeric characters that uniquely
visible to the public. Cryptocurrency The current processing capacity identifies an address that can send and
addresses are used to track the of the Bitcoin blockchain is seven receive cryptocurrency funds.
balance of a user’s wallet, creating a transactions per second, which has

Y
record of transactions. With private led to increasing transaction fees and
addresses, transactions are shielded, longer processing times.
so users retain their privacy.
Smart Contract: A computer yespower: A CPU-optimized hash
Proof of Research: A mechanism protocol that facilitates, verifies, function used in the mining process to
to ensure that a user has donated and/or enforces the rules and secure transactions.
computational time to one or more penalties of an agreement without the

Z
research projects. use of third parties. Used to enable
irreversible transactions of anything
Proof of Work: A mechanism to secure of value.
the blockchain. Miners compete to Zero-Knowledge Proof: A way for

T
solve complex calculations to validate party A to prove to party B they know
transactions and add new blocks to the the value of X without revealing any
blockchain. other information except that they
Token: Allocated to investors and other know the value of X.
Protocol: The rules that govern how relevant parties during an ICO. Once
nodes on a blockchain communicate. the conditions of the ICO are Zcash: A privacy-oriented
met and trading starts, tokens become cryptocurrency that allows users to
Public Address: An address that is functional units of currency. undertake private transactions by
visible to the public. Cryptocurrency implementing zk-SNARKs.
addresses are used to track the Tor: Open source software that
transactions between parties on a enables users to communicate zk-SNARK: A form of zero-knowledge
blockchain. anonymously by routing traffic proof used to ensure private
through an overlay network. transactions on the Resistance
blockchain.
Transaction Fee: A fee paid to the
first miner to successfully validate a
new block on the blockchain.

56 PART ELEVEN: GLOSSARY OF TERMS

End Notes

1   . Wikipedia. “List of countries by central bank interest rates.” 10 . Bitcoin. “Protect your privacy.” Accessed July 19, 2018,
Accessed August 6, 2018, https://en.wikipedia.org/wiki/List_ https://bitcoin.org/en/protect-your-privacy
of_countries_by_central_bank_interest_rates
11 . Coin Bureau. “Bitfury Group Unveils Technology to
2 . Aitken, Roger. “In Blockchain We Trust? Not Yet, Say Track Bitcoin Transactions.” January 8, 2018, https://www.
Consumers.” Forbes (blog), September 23, 2017, coinbureau.com/news/bitfury-unveils-technology-track-
https://www.forbes.com/sites/rogeraitken/2017/09/23/ bitcoin-transactions/
in-blockchain-we-trust-not-yet-say-consumers
12  . World Crypto Index. “Fungibility Explained.” Accessed
3 . CNBC Crypto Trader. “CNBC Exclusive: CZ -The most July 19, 2018, https://www.worldcryptoindex.com/fungibility-
powerful man in Crypto!” YouTube (video), July 11, 2018, explained/
https://www.youtube.com/watch?v=-wtqDL351lY
13 . Hong, Euny. “How Does Bitcoin Mining Work?”
4 . BBC News Staff. “India admits rupee withdrawal bad for Investopedia (blog), July 2, 2018, https://www.investopedia.
economy.” BBC, August 31, 2017, https://www.bbc.co.uk/news/ com/tech/how-does-bitcoin-mining-work/
business-38807695
14  . Trustnodes. “Bitmain Nears 51% of Bitcoin’s Network
5 . Wikipedia. “Mt. Gox.” Last updated July 17, 2018, Hashrate.” June 23, 2018, https://www.trustnodes.
https://www.en.wikipedia.org/wiki/Mt._Gox com/2018/06/23/bitmain-nears-51-bitcoins-network-hashrate

6 . Baldwin, Claire. “Bitcoin worth $72 million stolen from 15  . Bitcoin Wiki. “Majority attack.” Last updated February 10,
Bitfinex exchange in Hong Kong.” Reuters, August 3, 2016, 2018, https://en.bitcoin.it/wiki/Majority_attack
https://www.reuters.com/article/us-bitfinex-hacked-
hongkong/bitcoin-worth-72-million-stolen-from-bitfinex- 16  . Young, Joseph. “Malware Steals User Funds & Bitcoin
exchange-in-hong-kong-idUSKCN10E0KP Wallet Keys From PCs; Bitcoin, Altcoins Targeted.”
Cointelegraph (blog), February 8, 2017, https://cointelegraph.
7 . Haig, Samuel. “Greek Authorities Arrest Suspected BTC-e com/news/malware-steals-user-funds-bitcoin-wallet-keys-
Mastermind for Laundering $4 Billion.” Bitcoin News (blog), from-pcs-bitcoin-altcoins-targeted
July 26, 2017, https://news.bitcoin.com/greek-authorities-
arrest-suspected-btc-e-mastermind/ 17  . Khatwani, Sudhir. “Decentralized Crypto Exchanges vs
Centralized Exchanges Like Binance, Bittrex.” CoinSutra
8 . Lanz, Jose Antonio. “Vitalik Buterin On Centralized (blog), February 21, 2018, https://www.coinsutra.com/
Exchanges: ‘I Hope They Burn In Hell’.” Ethereum World News decentralized-vs-centralized-crypto-exchange/
(blog), July 8, 2018, https://www.ethereumworldnews.com/
vitalik-buterin-centralized-exchanges-burn-in-hell/ 18  . Andrews, Evan. “The Dark Side of “Decentralized”
Exchanges.” Coinmonks (blog), April 21, 2018, https://
9 . Russel, John. “Cryptocurrency exchange EtherDelta medium.com/coinmonks/the-dark-side-of-decentralized-
suspends service following alleged hack.” TechCrunch (blog), exchanges-82d49d55e419
December 20, 2017, https://techcrunch.com/2017/12/20/
etherdelta-suspends-service/

57 PART TWELVE: END NOTES

19  . Pelberg, Dan. “Why Decentralized Exchanges Still Aren’t 30 . Kaye, David. “Report of the Special Rapporteur on the
Good Enough.” Crypto Disrupt (blog), May 4, 2018, https:// promotion and protection of the right to freedom of opinion
www.cryptodisrupt.com/why-decentralized-exchanges-still- and expression.” United Nations Human Rights Office of the
arent-good-enough/?cn-reloaded=1 High Commissioner, May 22, 2015, http://www.ohchr.org/EN/
Issues/FreedomOpinion/Pages/CallForSubmission.aspx
20 . Asolo, Bisola. “What Are Atomic Swaps?” Mycryptopedia
(blog), July 2, 2018, https://www.mycryptopedia.com/what- 31 . Rizzo, Pete. “What If One Bitcoin Isn’t Like the Others?
are-atomic-swaps Fungibility Debated At Scaling Conference.” CoinDesk (blog),
October 9, 2016, https://www.coindesk.com/fungability-
21 . Zcash. “Technology: What are zk-SNARKs?” Accessed bitcoin-scaling-milan-one-bitcoin-not-like-others/
July 19, 2018, https://www.z.cash/technology/zksnarks.html
32 . Wikipedia. “Zero-knowledge proof.” Last updated June
22 . Tor Project. “About Tor: Overview.” Accessed July 19, 2018, 8, 2018, https://en.wikipedia.org/wiki/Zero-knowledge_
https://www.torproject.org/about/overview.html.en proof#The_Ali_Baba_cave

23 . Hochstein, Marc. “When Crypto Exchanges Hold More 33 . TradeBlock. “Historical Data: Bitcoin.” Accessed July 30,
Than Your Money.” CoinDesk (blog), February 1, 2018, 2018, https://tradeblock.com/bitcoin/historical/1d-f-tsize_
https://www.coindesk.com/aml-vs-privacy-cryptos- per_Avg-00071-blksize_per_avg-01071
compliance-conundrum/
34 . Casey, Michael J. “Privacy Is Vital to Crypto – and the
24 . Bitcoin Wiki. “Hashed Timelock Contracts.” Last updated Global Economy.” CoinDesk (blog), June 27, 2018, https://
September 26, 2017, https://en.bitcoin.it/wiki/Hashed_ www.coindesk.com/privacy-vital-crypto-global-economy/
Timelock_Contracts
35 . Witherspoon, Zane. “A Hitchhiker’s Guide to Consensus
25 . Asolo, Bisola. “What Are Atomic Swaps?” CryptoCompare Algorithms.” Hackernoon (blog), February 13, 2018,
(blog), May 20, 2018, https://www.cryptocompare.com/coins/ https://www.hackernoon.com/a-hitchhikers-guide-to-
guides/what-are-atomic-swaps consensusalgorithms-D81aae3eb0e3

26 . Privacy International. “What is Privacy?” (Video), 36 . Dash. “Masternodes.” Accessed July 19, 2018, https://
Accessed August 23, 2018, https://privacyinternational.org/ www.dash.org/masternodes/
explainer/56/what-privacy
37 . Dash Core Group. “Masternodes.” Dash Documentation,
27 . Wikipedia. “Facebook-Cambridge Analytica data accessed July 19, 2018, https://docs.dash.org/en/latest/
scandal.” Last updated August 7, 2018, https://en.wikipedia. masternodes/index.html
org/wiki/Facebook%E2%80%93Cambridge_Analytica_data_
scandal 38 . Baker, Paddy. “Will Bitmain Stage A 51% Attack On The
BTC Network?” CryptoBriefing (blog), June 25, 2018, https://
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Facebook’s ‘mistakes’ over Cambridge Analytica.” The
Guardian, March 22, 2018, https://www.theguardian.com/ 39 . Bitmain. “About Bitmain.” Accessed July 19, 2018, https://
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40 . Openwall. “yespower - proof-of-work (PoW) scheme.”
29 . Curran, Dylan. “Are you ready? Here is all the data Accessed July 19, 2018, http://www.openwall.com/yespower/
Facebook and Google have on you.” The Guardian, March
30, 2018, https://www.theguardian.com/commentisfree/2018/ 41 . BOINC. “Open-source software for volunteer computing.”
mar/28/all-the-data-facebook-google-has-on-you-privacy Accessed July 19, 2018, https://boinc.berkeley.edu/

58 PART TWELVE: END NOTES