Dodgecoin is an innovative solution to facilitate confidential cryptocurrency transactions. Although multiple billion dollar worth of cryptocurrencies are being traded through numerous platforms every day, the privacy issue has not been addressed since the invention of blockchain technology. As cryptocurrency transactions are public, anybody can trace back all the activities of your wallet address. Imagine, all your bank statements were posted online. Would you be happy with that?
Since January 2009 — when the Bitcoin network was created — until today, there were over 20,000 new cryptocurrencies created with a total market capitalization of over 1 trillion Dollars. Despite these astronomical numbers, no reasonable efforts were made to protect the privacy of cryptocurrency transactions. By launching the Dodgecoin Project, our intention was filling this gap. Our vision at Dodgecoin is claiming back our financial freedom. This freedom was originally provided by cash, from the dawn of our human civilization until recently, when electronic payment systems gradually eliminated cash payments in many countries. By switching to Dodgecoin payments you will gain all the benefits of both worlds: the privacy of cash payments and the convenience, speed and security of the blockchain technology.
The Dodgecoin Project has two short-term objectives: selling tokens to raise 15,000 BNB and developing our own blockchain. From the proceeds of the ICO sale 80% will be set aside to create a future liquidity pool of DODGE - BNB, and Dodgecoin will be traded at several decentralized exchanges.
The financial goal of the Initial Coin Offering is selling 750,000,000 Dodgecoins, total value of 15,000 BNB. The exchange rate is: 1 BNB = 50,000 DODGE. From the proceeds 80% will be set aside to create a future liquidity pool of DODGE - BNB, and Dodgecoin will be traded at several decentralized exchanges.
Dodgecoin was originally deployed in the Binance Smart Chain Network. This is the place where the ICO tokens were minted and where Dodgecoin will be traded in the future at decentralized cryptocurrency exchanges. In addition to the Binance Smart Chain, Dodgecoin is also deployed in several Ethereum-compatible blockchains. The total number of supported networks is currently 10.
Although our primary goal is building our own blockchain in order to assure the highest possible level of confidentiality and to eliminate dependencies, Dodgecoin already offers confidential token transfers. By using the Dodgecoin Bridge, you can privately transfer Dodgecoin between the 10 available networks. Since Dodgecoin Bridge transfers consist of two separate transactions in two separate blockchains, there is no direct link between the sender's and the recipient's wallet address.
The Dodgecoin Split Transfer method is an improved version of the Dodgecoin Bridge, where your tokens are sent through not one, but two networks. As a first step you deposit your Dodgecoin to the bridge. Then, the tokens will be randomly divided into two amounts. The first amount will be minted into your first wallet on the first network, and the second amount will be minted into your second wallet on the second network. Because split token transfers consist of three separate transactions in three separate blockchains, there is no link between the sender's and the recipient's wallet addresses. Since the funds are randomly distributed between two separate transactions, the transferred amount cannot be guessed by the amount of deposited tokens.
In addition to these two token transfer services, users can easily generate disposable wallet addresses to further improve the level of confidentiality.
Upon the commencement of trading Dodgecoin at decentralized exchanges, we will start building our own blockchain. To ensure the maximum level of confidentiality, the proposed new blockchain will implement the principle of zero-knowledge proofs (ZKPs); this is a cryptographic protocol that allows one party (the prover) to prove to another party (the verifier) that a statement is true, without revealing any information beyond the fact that the statement is true.
Practically, the application of ZKPs means that all transactions on the blockchain are encrypted. Although transactions are confidential, each wallet address is supplied with a viewing key that can be shared with a third party to reveal encrypted transactions. Account holders can selectively disclose the data from a specific transfer or all activities of their wallet address.