Rhombus is a decentralized, untraceable currency that gives the user three levels of privacy to choose from. Secured with Ring CT and Bulletproof, you can be sure your funds are sent securely and privately end to end. The project is currently in the initial launch phase and can be bought from the projects ICO on Rhom.com. The project has a small community that is growing daily, development is provided by a well known developer in the blockchain community, well known for his reliability, and clean modern code.
Block Time: 2.5 Seconds
Initial Supply: 1 Billion
Distribution: Air Drop, ICO
Proof Of Work: No
Proof Of Stake: 25 Block Reward
Initial distribution includes 6 billion RHOM distrubuted at a ratio of 500:1 to all BTC addresses with a positive bitcoin balance over 0.001 before BTC block 660023. All you need to do to claim your Air Drop coins is sign a message with the address you owned that held a positive balance then. There’s an online form to make this easier. It’s found here (https://rhom.com/airdrop).
The ICO is currently in Phase 1. You can use this form to invest into the coin before the ICO ends. This ICO is private and confidential, and you can buy coins using Bitcoin or ETH. Here’s the ICO form for interested parties (https://rhom.com/ico-invest).
Rhombus is a new project but is available on the xchange platform. If you’d like to check the market visit the BTC-RHOM market page here (https://freebitcoins.com/xchange/market/Bitcoin-Rhombus).
Rhombus is built on the blockchain core and has integrated staking as another distribution method to existing coin holders that buy from the exchange, receive from Air Drop, or purchase from the ICO. The coin stakes 25 coins every 2.5 seconds.
All transactions use SegWit resulting in cheaper transaction fees and scalability. 100% of addresses are compatible with the SegWit implementation since it’s been implemented since the currency’s creation.
Bulletproofs makes the transaction anonymizing feature of Ring CTs more efficient. Ring CTs keep track of who’s sending who what in an untraceable way with the only downside being the increased complexity adds to the size of the blockchain. Bulletproofs is a new advanced way to verify transactions in an zero knowledge fashion that reduces the size of the transactions up to 80%.
Rhombus has a long-term goal of creating its own Lightning Network that provides instant transactions, Scalability, Cross Chain communication, and lowering transaction cost.
Three Tiers of Privacy
Rhombus offers three levels of privacy to the user. The first level of privacy is Public. This is the only level you can earn coin stakes at. Public transactions are just that, the amount and verifying participants are visible.
The second level Blind allows the transaction amount to be hidden, but participants are still seen.
The third level is Anon and provides anonymous amounts, and anonymous participants. The transaction goes up with the level of privacy used.
This allows Rhombus to keep a public ledger of supply as new coins are staked, while also allowing transactions to remain private if you like. Providing multiple options to the user to choose from depending on the level of privacy they need.