Spectrecoin / XSPEC


August 21st, 2017 – Version 3


Definition from the Spectreproject’s Website

The Spectreproject comprises the anonymous, untraceable and secure cryptocurrency Spectrecoin [XSPEC] and a mobile platform for small remittance, currently being developed. This will be known as Spectre.Cash and will be available for Android at the outset.

We believe that the privacy of an individual is an absolute right and our Philosophy is one of ‘Zero Knowledge’ and anonymity and we aim to provide the world with the best anonymous cryptocurrency and the means to transfer cash around the globe anonymously.

XSPEC is an anonymous, untraceable and un-linkeable, energy efficient, Proof-of-Stake v3 cryptocurrency with an advanced hierarchical deterministic wallet (HD wallet). The whole network is also running under Tor and our software has Tor integrated so you don’t need to worry about whether you are protected or not.

Community Enthusiasm – 3 out of 5

  • Slack has 542 members in the Announcements channel
  • The Core Team are Regularly active in Slack and the community is passionate
  • The Core Team are Regularly active in Bitcointalk

Active Development – 3 out of 5

  • The devs are actively working in the background.  There is one main developer at the moment.
  • The devs are posting updates on their work.
  • There is a new Roadmap recently published.

Exchanges – 2 out of 5

Price – https://coinmarketcap.com/currencies/spectrecoin/

  • Has historically traded from approximately 1500 to 2500 sats since January.
  • Price dropped below 1000 sats in early March.
  • Price rose above 15000 sats in a short stretch in mid-July.

spectrecoin price

Wallets – https://spectreproject.io/download.html

  • Windows
  • MAC



August 21st, 2017 Summary (v3)

Spectre is a coin copied from the now defunct Shadowcoin (SDC) and strengthened for anonymity. Their explanation for this increased privacy states “XSPEC delivers anonymous transactions through the use of ring-signatures and dual key stealth addresses but XSPEC tops the anonymity of its competitors with what is known as a native integration of Tor in the code base itself. This means that the whole of the XSPEC network is running under Tor and your real IP address will be hidden from any attacker or spy when you use the XSPEC software.”

I personally prefer PoS 3.0 coins, such as XSPEC, over PoW coins. 60 seconds is a great block time in my opinion (compared to 10 minutes for Bitcoin). There was a 20 million coin genesis transaction, from which 95% was distributed in the ICO. The community is in the process of having Russian and Chinese translations completed.

XSPEC is historically bad at meeting timelines, yet they have months listed on their newest Roadmap. As far as I know, nobody in the history of crypto has ever met a promised date. I am a programmer myself, so I know unforeseen circumstances often pop up, which is why I think even general dates are never a good idea.

My recommendation…

I have actually reviewed this coin four times now… sorry, my opinion changes depending on who is representing the coin. The previous developer who made all the promises has had health issues and is not currently in the picture. A new developer has taken over and delivered the first significant update to XSPEC in four months.

In addition, while there are still occasional issues with how the dev team handles conflict in both Slack and Bitcointalk, the community as a whole is making an effort to treat people with more respect than they have in the past. I like the direction things are heading.

Ultimately, XSPEC just needs to publicly continue to show progress… only then will people take notice. The Roadmap and Developer update were a good start. It is a relatively unknown currency, and could be very profitable if development continues.