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{{#seo:
|title=Maxcoin. All about cryptocurrency - Bitcoin Wiki
|keywords=blockchain projects, Maxcoin, blockchain, max coin, cryptocurrency, secure, security, encryption, project
|description=Maxcoin is one of the most secure cryptocurrencies because it’s based on next generation encryption and is open-source. It’s open, transparent, and free of charge.
}}

'''Maxcoin''' ('''MAX''') is a [[peer-to-peer]] [[cryptocurrency]] and open source software project.<ref name="http://maxcoinproject.org/">{{cite web |title=MaxCoinProject.org |url=https://maxcoinproject.org/ |publisher=maxcoinproject.org |accessdate=2018-04-16}}</ref> Creation and transfer of coins is based on an [[open source]] [[cryptographic protocol]] and is not managed by any central authority.<ref name="Bitcoin: A Peer-to-Peer Electronic Cash System">{{cite web |last=Satoshi |first=Nakamoto| title=Bitcoin: A Peer-to-Peer Electronic Cash System |url=http://bitcoin.org/bitcoin.pdf |format=PDF|publisher=Bitcoin.org |accessdate=24 April 2013}}</ref>

Maxcoin supports [[SHA-3]]/[[Keccak]] hashing algorithm with [[Schnorr Signature]]s and difficulty retargeted every block with [[Kimoto Gravity Well]].

== History ==
Maxcoin was designed by [[Nigel Smart (cryptographer)]] and developed by Luke Mitchell and Jordan Fish. [[Stacy Herbert]] participated in the design specs, specifying technical details like number of coins and block size. [[Max Keiser]] supported the project<ref>{{Cite news|url=https://www.dailydot.com/business/max-keiser-interview-bitcoin-maxcoin/|publisher=The Daily Dot|title=Max Keiser talks Bitcoin, MaxCoin, and the ‘financial war’|access-date=2018-04-17|language=en-US}}</ref>and presented it in his [[Keiser Report]] show aiming at teaching audience about crypto<ref>{{Cite news|url=https://www.maxcoinproject.org/maxcoin-history/|title=Maxcoin History|access-date=2018-04-16|language=en-US}}</ref>. In addition to Maxcoin, Max Keiser has been a long-time supporter of cyrptocurrencies publicly advicing [[Bitcoin]]. He has also participated in [[Mayorschain]] project in 2015 in order to run London's municipal £17 billion ($26.4 billion) budget with [[George Galloway]] Major candidate, and he created [[Startcoin]] crypto currency.<ref>{{Cite news|url=http://uk.businessinsider.com/george-galloway-blockchain-bitcoin-mayorschain-london-2015-7/|title=George Galloway has a wild plan to run London’s budget using the tech behind bitcoin|publisher=Business Insider UK|access-date=2018-04-16|language=en-US}}</ref>

It was built as a fork of the [[Bitcoin Core]] client including two main main modifications: different hashing algorithm Keccak (pronounced like "ketchak") instead of SHA-256 and Schnorr signatures.<ref name="auto1">{{Cite web|url=https://www.maxcoinproject.org/keccak|title=Maxcoin security|last=|first=|date=|website=|publisher=|accessdate=}}</ref>

The coin was launched during [https://www.youtube.com/watch?v=_Q684UxfDSU&feature=youtu.be episode 555] of ''[[Keiser Report]]'' the 28th January of 2014, where [[Max Keiser]] participated directly in the mining of Maxcoin's genesys block. Developers did not pre-mine before the public launch the 7th of February 2014.<ref>{{Cite web|url=https://www.coindesk.com/max-keiser-altcoin-maxcoin-makes-debut/|title=Max Keiser-Inspired Altcoin 'MaxCoin' Makes its Debut|last=|first=|date=|website=|publisher=|accessdate=}}</ref> <ref>{{Cite web|url=https://www.benzinga.com/news/14/02/4283374/the-next-altcoin-to-hit-20-million/|title=The Next Altcoin To Hit $20 Million?|last=|first=|date=|website=|publisher=|accessdate=}}</ref>

The first week since the release the 14th of February, the coin reached its highest value of 3.11$ per coin, with a total market capitalization of more than 8.5M$. It quickly decreased its value, reaching 0.00666$ per coin the 31st of December 2014. Development was practically discontinued and the coin lost significant relevance<ref>{{Cite web|url=https://hacked.com/ico-analysis-tezos/|title=ICO Analysis: Tezos|last=|first=|date=|website=|publisher=|accessdate=}}</ref>.

On July 2017, development was reactivated with a new team that, among other things, launched new website, fixed miners and wallets, created blockchain explorer. Development is being carried on by a growing community based on no ICO, no Advertising, no donations, no fund raising and no airdrops. Max Keiser supported this new relaunch of Maxcoin<ref>{{Cite news|url=http://bitcoinist.com/max-keiser-george-soros-attempt-corner-bitcoin/|title=Max Keiser: I wouldn't be surprised if George Soros attempts to "corner" Bitcoin market|access-date=2018-04-17|language=en-US}}</ref>.

== Design features ==

=== Keccak SHA-3 algorithm for Proof of Work ===
Maxcoins transaction security is based on [[Keccak]] ([[Help:IPA/English|/ˈkɛtʃæk, -ɑːk/]]) hashing algorithm for [[Proof of Work]]. This algorithm was designed by [[Guido Bertoni]], [[Joan Daemen]], [[Michaël Peeters]], and [[Gilles Van Assche]]. On October 2, 2012, Keccak was selected among 51 alternatives as the winner of the [[NIST hash function competition]], launched in 2006 to create the new hash standard, [[SHA-3]] to overcome [[SHA-2]] apparent weaknesses. There is a limited set of crypto currencies using these algorithm, such as 365coin, Slothcoin or Cryptometh<ref>{{Cite web|url=https://link.springer.com/chapter/10.1007/978-3-662-47854-7_27/|title=Proof-of-Work as Anonymous Micropayment: Rewarding a Tor Relay|last=|first=|date=|website=|publisher=|accessdate=}}</ref>
Keccak is not vulnerable to length-extension attacks, which in certain circumstances can be used to create valid signatures to deceive a recipient whilst remaining invisible.To mitigate against these attacks, Bitcoin uses two rounds of SHA-256 on the input (the input is fed into the hashing algorithm, the resulting hash is then fed into the algorithm a second time), however this additional step is not required when using Keccak, saving time and reducing cryptocurrencies ecological footprint.

=== Schnorr Signing Algorithm ===
Maxcoin uses [[Schnorr_signature|Schnorr]] as the signing algorithm, allowing aggregated multisignatures, upgraded key generation and increased performance. Schnorr signatures are being considered as a significant next step for Bitcoin<ref>{{cite web |url=https://eprint.iacr.org/2018/068.pdf |title=Simple Schnorr Multi-Signatures with Applications to Bitcoin |publisher= |accessdate=2018-04-16}}</ref><ref>{{cite web |url=https://decentralpost.com/2018/03/31/why-every-bitcoin-fan-should-be-excited-about-schnorr-signatures/ |title=Why Every Bitcoin Fan Should be Excited About Schnorr Signatures |publisher=decentralpost |accessdate=2018-04-17}}</ref>. The use of these signatures provide Maxcoin the following advantages among other alternatives:

* Constant-size signatures irrespective of the number of participants in the multisig setup.
* The diminished size of data to be validated and transmitted across the network also translates into capacity gains.
* From a privacy standpoint, Schnorr allows the entire policy of the multisig to be obscured and indistinguishable from a conventional single pubkey.
* The properties of Schnorr allowing for the combination of multiple signatures over a single input are also applicable to the aggregation of multiple inputs for all transactions.

Maxcoin uses Secp256r1 as it's cryptographic field to generate key pairs for addresses <ref name="auto1"/>. It is a carefully-designed elliptical curve from which points are selected and used to initialise the public and private keys. Bitcoin, and most cryptocurrencies, use a field known as Secp256k1, which is believed to be less secure than the Koblitz family of curves.

== See also ==
* [[Crypto-anarchism]]
* [[Private currency]]
* [[Alternative currency]]

== External links ==
*[https://www.maxcoinproject.org/ Official website]

*[https://coin360.com/coin/maxcoin Maxcoin price and market state on Coin360]

[[ru:Maxcoin]]

[[Category:Cryptocurrency]]

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foo>Artillar at 16:00, 6 December 2018