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Cryptonite is the first implementation of the light weight mini-blockchain scheme. Nodes will never again spend days synchronizing with the network and the average user will not have to fear becoming a full node. This is possible because of our decentralized balance sheet approach.
Cryptonite combines many great ideas developed by the altcoin community and also includes several novel features not seen in another cryptocurrency until now. Two innovative features which help improve security and trust are unmalleable transactions and withdrawal limits.
Cryptonite achieves smart coin distribution by adjusting the difficulty and the block reward every block, adapting quickly to changes and providing smoother transitions. The dynamic max block size mechanism ensures that the transaction capacity of the network naturally grows over time.
Cryptonite has an unparalleled potential for scalability and transaction capacity. The total coin supply has a full 64 bits of granularity, the nonce and timestamp have also been increased to 64 bits. The M7 PoW algorithm uses multiple cryptographically secure hashing algorithms.
Cryptonite has superior support for micro-transactions because we don't have to worry about keeping any so called "dust" in the blockchain forever. Since blockchain bloat is not a problem, blocks can be larger and we can encourage the use of custom transaction messages.
Cryptonite has full native support for multi-signature transactions, which require multiple parties to sign a transaction with different keys before it is considered valid. Multi-sig transactions are useful in many real world situations, especially for consumer protection and escrow schemes.
IMPORTANT: Cryptonite is highly experimental software and the concepts underpinning it lack extensive testing and analysis. Cryptonite is a fork of the Bitcoin core but the code has been extensively modified and expanded upon. It may look quite similar to Bitcoin on the surface but things work very differently under the hood. As such, you should use Cryptonite with caution and diligence until the code base has been properly reviewed and the robustness of the network has been established. We provide no guarantees or warranty, but in the event where something does go wrong with the network we will do our best to recover the situation and maintain all address balances so that losses are minimized.