Blacknet Overview: Blacknet is a POS3.0 public chain built from scratch by blackcoin author rat4, who started the project in September 2018. Through a 14-week burning cycle, Blackcoin is burned as a code to anchor the value. (1) The mainnet was officially launched on December 23. (2) As we all know, Blackcoin is a POS version of Bitcoin, and the Pos3.0 algorithm used has been recognized by many currencies. Hundreds of currencies have quoted Blackcoin’s POS technology. It is on this basis that Blacknet uses the Kotlin development language to develop a new generation of public chains aimed at solving the shortcomings of Bitcoin. (3) Blacknet is a scalable POS network. No pre-mining, no ICO, no foundation. Functions planned to be implemented include: account-based POS proof, offline mining, atomic swaps, voting, encrypted messages, and authorization-free expansion. It also plans to expand functional applications in POS algorithms, decentralized exchanges, and zero-knowledge anonymity. (4) 1: Why use accounts instead of UTXOs (5) Bitcoin and many of its derivatives store user balances based on unspent transaction outputs (UTXOs): the state of the entire system is determined by UTXOs Composed (think of it as "coins") such that each coin has an owner and a value, each transaction requires one or more coins and creates one or more coins, which rely on the following verification constraints: each The relevant inputs must be valid and unspent. Each transaction must be signed and consistent with the owner of each input. The total inputs are equal to the outputs. The user's "balance" is the total of these "coins", and the user can provide the private key to generate a valid 's signature. Blacknet does not intend to adopt this solution, but adopts a simpler method: each account has a balance status (and specific internal data), and a transaction is valid if there is enough balance on the account to pay. In this case, the sending account is debited and the receiving account is credited. Benefits of UTXOs: High degree of privacy: If a user uses a new address to make transactions, it is more difficult to associate it with other accounts. This works well for currencies, but is too arbitrary for dapps, which often involve keeping track of a complex set of users.