Spectrecoin / XSPEC


May 17th, 2017 – Version 2


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 – 2.5 out of 5

  • The Core Team are Occasionally  active in Slack
  • The Core Team are Regularly active in Bitcointalk

Active Development – 3 out of 5

  • The devs are actively working in the background.  There are multiple developers.
  • 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 3000 sats in a short stretch in mid-March.

spectrecoin price

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

  • Windows
  • MAC


May 17th, 2017 Summary

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 really is a lot to read on their site concerning the security and privacy built into the coin, so I recommend you look there for more detailed information. There was a 20 million coin genesis transaction, from which 95% was distributed in the ICO.

My recommendation…

I have actually reviewed this coin three times now. The dev team has never been very forthcoming with information and never shown any interest in promoting XSPEC to date. The Slack channel is terrible and seems to be run by a few people pretending to be devs… but they treat visitors terribly. Nullsec is one of the least patient, rude and unhelpful people I have met on Slack.

So, I got that out of the way. Why am I reviewing XSPEC again? The devs have actually showed up in Bitcointalk in the last few weeks. They have given an update on what they are working on and details about additional development resources. A new Whitepaper is due out soon.

If the new Roadmap 2 (in the links above) is accurate, there are a lot of new updates due in the next month, and planned for the rest of the summer. In the BCT message below the Roadmap 2 information, is an update where mandica announces an additional developer has been added to the project. If these development updates start to get released, people will start noticing. GitHub has no recent updates, and many people I know look there first to see if any work is being done. This alone has turned many people away.

Ultimately, XSPEC just needs to publicly continue to show progress… something they have never had as a priority. The Roadmap and Developer update were a good start. It is a relatively unknown currency, and could be very profitable if development continues.