With Reversecoin, you can create two different kinds of accounts: Standard Accounts and Vault Accounts. Standard accounts behave very much like your Bitcoin accounts and allow you to send and receive money for daily purposes. Vault accounts behave much like you bank savings account, where you can deposit large amount of coins and keep them safe from hackers. Each vault account has a configurable timeout and is backed by two key pairs, one online and one offline. You only need online keypair to transfer coins from vault. When you transfer your coins using online keypair, your transactions get confirmed after they live in blockchain for the timeout period.
If someone steals your online key pair and transfers coins to them, the transactions will have to wait in block chain for the timeout period. During which, you can use your offline key pair and reverse those transactions and restore your coins to your other address. You can also use your offline key pair for immediate transfer of coins in your Vault, instead of waiting for timeout period. In a sentence, Vault account has the ease of use of hot wallets (online account) and security of cold wallets (offline accounts). We are also working on a monitoring service, to send you real-time alerts, when your coins are transferred from your addresses. To know more about Reversecoin, read our white paper or even better play with it, to see for yourself how Reversecoin works. In order to make it easy, the code is sandboxed and difficulty is reduced so that blocks are produced one every minute. Below is a brief tutorial to show how vaultcoin works. Please note that following tutorial has been tested to work on Ubuntu.
Blocks: 14Display account information
Address: 1Fs3w4ocFYQfWHwwW1BmCt64Lzxhy949x8 Public key: 041710ff89c02 ... Private key: 3082011302010 ... Balance: 4999999974.0Display balance
Accounts 1Fs3w4ocFYQfWHwwW1BmCt64Lzxhy949x8: 5000000000.0 16BWWhnwdRzEMHDegCcFSAmfXTpsjqQgEm: 5000000000.0 ... Vaults No vaults created yet! Pending Transfers No pending transactions!Display transactions received by an address
Id: 1 16vG4kpi4Kwj7rCvcQRmndkASuhpiUkefb Id: 2 16tVroAQYhkHxAEXKu2WUmUAKZdpoLnNTD Id: 3 1CfzTkpb13AEjnaiNU7GRZoFPEPP6m4DML Enter the id of the address to check received transactions: 1 16vG4kpi4Kwj7rCvcQRmndkASuhpiUkefb received 1 transaction(s) Transaction 1 txhash: 86984500261139323876473882090714817035950406287964486706826054079903609861629 n: 0 value: 5000000000
1B3gjZwmcT1gnRjM5Vsq3ejQrn5SxTWwMnSend coins to an address
Id: 1 16vG4kpi4Kwj7rCvcQRmndkASuhpiUkefb Id: 2 1Nhq1uuA7wUtc28Jff1v3mtVhguYjnMHoK Id: 3 1HQsyNzq7bBuVsHZ6P7iPaegRdijHAMHpC Id: 4 1B3gjZwmcT1gnRjM5Vsq3ejQrn5SxTWwMn Enter the id of the address to send coins to: 4 Enter the balance to transfer to address: 34 Transferring: 34 to: 1B3gjZwmcT1gnRjM5Vsq3ejQrn5SxTWwMnWait for a minute for the confirmation and check for updated balance
Accounts 1Fs3w4ocFYQfWHwwW1BmCt64Lzxhy949x8: 5000000000.0 16BWWhnwdRzEMHDegCcFSAmfXTpsjqQgEm: 5000000000.0 1B3gjZwmcT1gnRjM5Vsq3ejQrn5SxTWwMn: 34.0 ... Vaults No vaults created yet! Pending Transfers No pending transactions!
Creating new vault: Address: 1HFDd3UBNjxUm7C1zkKxVC5bKvDFCN1JUc Master Address: 1GqLygiFjnVLZ3FrmMuQrYvVgpNJTgbnMy Vault Address: 4DmsKRg83o5twQxTQx7ZZSFYcsrpTHS92tNow, lets deposit some amount into a vault
1: 4HYNqEahenrvDLUCVevLm7v1HmV7f2tECB 2: 4PAisa72N4hFTPzXYcXFnarfQSNVndGF13 Please enter the index of the vault to transfer money to: 1 Enter the balance to transfer to vault: 42 Transfering 42 to vault 4HYNqEahenrvDLUCVevLm7v1HmV7f2tECBWait a minute for the confirmation
4HYNqEahenrvDLUCVevLm7v1HmV7f2tECB: 42.0 4PAisa72N4hFTPzXYcXFnarfQSNVndGF13: 0.0Display detailed vault information
Vaults Vault Address: 4HYNqEahenrvDLUCVevLm7v1HmV7f2tECB Balance: 42.0 Address: 15MkohW6NsPi9tcuauxFuvkqoD3GJGdA1e Master Address: 18iZCwDajHjrpAirtRho7yG4YnZbuT4yvh timeout: 300 seconds (5 minutes) Received transactions: txhash: 96514527025978237138015757123231276653576463689488169168267055758937615537735 n: 0 value: 42Withdraw coins from vault using online keys only
Available vaults Id: 1, Address: 4HYNqEahenrvDLUCVevLm7v1HmV7f2tECB, Balance: 42.0 Enter the id of the vault you want to transfer coins from: 1 Id: 1 1GA2CMyFM8LsGfKV3JxHcUBmLocWJ9irNv Id: 2 15CXyWwfpdQWWDJLAR9iRE2i4HqmGvUeHt Id: 3 1JAZpSBHLhzxTbLgknNsHdgm7dX5qMeLvp Id: 4 16tVroAQYhkHxAEXKu2WUmUAKZdpoLnNTD Enter the id of the address to send coins to: 1 Enter the balance to transfer from 4H7RkmGw9xmTWHRkpsX2R3BMvXDGk8q9rv to 1GA2CMyFM8LsGfKV3JxHcUBmLocWJ9irNv: 3 Transfering 3 from 4H7RkmGw9xmTWHRkpsX2R3BMvXDGk8q9rv to 1GA2CMyFM8LsGfKV3JxHcUBmLocWJ9irNvWait a minute for the pending transactions to appear
Pending Transfers Id: 1 Input: 4HYNqEahenrvDLUCVevLm7v1HmV7f2tECB Outputs: 3 -> 1CrCnA1ToTin2MqBSKBY8rudUGxdC9qpj 37 -> 4HYNqEahenrvDLUCVevLm7v1HmV7f2tECBIf you want the transactions to go through, just wait for the confirmation period (5 minutes).
Pending Transfers Id: 1 Input: 4HYNqEahenrvDLUCVevLm7v1HmV7f2tECB Outputs: 3 -> 1CrCnA1ToTin2MqBSKBY8rudUGxdC9qpj 37 -> 4HYNqEahenrvDLUCVevLm7v1HmV7f2tECB Enter the id of the vault transaction you want to override: 1 Fromaddress: 4HYNqEahenrvDLUCVevLm7v1HmV7f2tECB Toaddress: 1sEDAwVcH2e5mFvjmWxXY13UCJQPqLP85 Overriding the transactionIf you want immediate transfer coins from your vault account
Available vaults Id: 1 4H7RkmGw9xmTWHRkpsX2R3BMvXDGk8q9rv: 42.0 Enter the id of the vault you want to transfer balance from: 1 Id: 1 1GA2CMyFM8LsGfKV3JxHcUBmLocWJ9irNv Id: 2 15CXyWwfpdQWWDJLAR9iRE2i4HqmGvUeHt Id: 3 1JAZpSBHLhzxTbLgknNsHdgm7dX5qMeLvp Id: 4 16tVroAQYhkHxAEXKu2WUmUAKZdpoLnNTD Enter the id of the address to send coins to: 1 Enter the balance to transfer from 4H7RkmGw9xmTWHRkpsX2R3BMvXDGk8q9rv to 1GA2CMyFM8LsGfKV3JxHcUBmLocWJ9irNv: 3 Transfering 3 from address 4H7RkmGw9xmTWHRkpsX2R3BMvXDGk8q9rv to 1GA2CMyFM8LsGfKV3JxHcUBmLocWJ9irNv