We came up with the idea to create a new decentralized payment system in October 2017 after completely realizing that Bitcoin can’t handle this burden. All other developers were concentrating on building an “Ethereum killer,” and nobody actually cared about designing a blockchain, that could serve as a fast, secure, and convenient payment system and allow for the mass adoption of blockchain technology among a general audience. So, we thought, “If you want something done right, do it yourself.”"
We defined the technical requirements for the new system: It should be capable of providing a user experience at the same level as existing centralized payment infrastructure (something Bitcoin failed to achieve) and at the same time be truly decentralized. Only after achieving both of these properties can we count on the mass adoption of a new payment system."
After examining existing projects, we concluded that none of them could serve as a base for the new platform, so it should be designed completely from scratch. Therefore, we started working on a new design, that was supposed to become a breakthrough in cryptocurrency technology, and after more than two years of hard work, we are proudly presenting Dynemix."
As we came to the conclusion that creating a mere platform wouldn't be enough, we made a decision to combine Dynemix with a ready-to-use product to help proliferate the platform and develop the economy. Thus, Liberdyne was born."
During the development process, we worked out a large number of new approaches to various aspects of the product that made the system radically different from other projects."
Here are some of them
Dynemix is designed to be a purely payment platform
After the successful launch of Ethereum, most developers concentrated on developing analogous decentralized virtual machine platforms. This led to a slowdown in the development of the “electronic cash system” concept and stagnation in the cryptocurrency market.>
Dynemix, on the other hand, is purely a payment system, designed to perform this function perfectly. Unlike other platforms, which endeavor to be an “all-in-one” solution, Dynemix concentrates on one feature, thereby delivering a user experience that surpasses that of even common centralized payment systems, not to mention that of other decentralized platforms.>
Dynemix is highly decentralized and cartel-resistant
At the time of a sharp rise in the popularity of cryptocurrency, a significant drawback was revealed – the lack of scalability. The easiest solution to this issue was creating more centralized platforms, and this was the path that a lot of developers took.>
Dynemix, on the other hand, is designed specifically to provide the highest level of decentralization and assure that no coordinated group of major actors will be able to control the system.>
Dynemix introduces a groundbreaking economic model
Volatility is one of the main obstacles for cryptocurrencies on the way to substituting conventional means of payment. A volatile asset can properly perform none of the main functions of money.>
To become a fully-fledged money, Dynemix features a novel algorithmic economic model, which allows to target any desired inflation rate or r* and maintain it intrinsically without the need of being manually governed or pegged to a stable exogenous asset, thus introducing the first fully decentralized and independent stable crypto economy.>
Security is not sacrificed
Despite the need for certain trade-offs to assure the targeted speed and scalability, we have made every effort not to sacrifice security and keep the system resistant to all types of attacks.>
With the help of double-layer data validation, Dynemix manages to circumvent a decrease in safety caused by sharding. The system also features an anonymous tunneling protocol that allows users to conceal their IP addresses when using the system.>
Dynemix is compatible with financial privacy
Transaction data encryption solutions used in currently available cryptocurrencies put a high load on hardware and are fully applicable only to UTXO model based systems.>
Dynemix is designed to utilize a new privacy solution using an additive homomorphic cryptosystem with zero-knowledge equality and range proofs. Although the system will be launched without encryption, its design allows for a quick and painless transition to homomorphic encryption, as the architecture is initially optimized for operation with encrypted balances.>
Liberdyne/Dynemix is a ready-to-use product
Unlike other blockchain developers, who create only mere platforms, we integrated Dynemix into the Liberdyne messenger to provide users with a more familiar experience. Newcomers don’t have to study the peculiarities of cryptocurrency technology to start using Dynemix.>
Instead, the user only needs to install Liberdyne and start using a familiar type of app with additional functions, which are available through a simple and intuitive interface. Minting functions are set up automatically, so the user doesn’t need to do anything at all.>
Liberdyne cares about user privacy
Unlike popular centralized messengers, which store user data on their servers, Liberdyne is fully P2P and encrypted by default, so the developers have no technical access to the private data of Liberdyne users. >
Liberdyne architecture is specifically designed in a way that prevents any access to private data by any party, except the owner. Any user may stay fully anonymous in the system, if he or she so wishes. Liberdyne is resistant to meta-data collection attempts.>