GTC is a decentralized and open-source cryptocurrency that offers privacy and selective transparency of transactions. GTC payments are published on a public blockchain, but the sender, recipient, and amount of a transaction remain private. GTC is based on peer-reviewed cryptographic research, and built by a security-specialized engineering team on an open source platform based on battle-tested codebase. Our improvement is the addition of privacy. GTC uses advanced cryptographic techniques, namely zero-knowledge proofs, to guarantee the validity of transactions without revealing additional information about them.
GTC encrypts the contents of shielded transactions. Since the payment information is encrypted, the protocol uses a novel cryptographic method to verify their validity. GTC uses a zero-knowledge proof construction, developed by our team of experienced cryptographers based on recent breakthroughs in cryptography. These constructions allow the network to maintain a secure ledger of balances without disclosing the parties or amounts involved. Instead of publicly demonstrating spend-authority and transaction values, the transaction metadata is encrypted and used to prove that nobody is cheating or stealing.
The transactions processing requires a considerable amount of computational resources. Those users who joined the network may allocate time of their computers for transaction processing. Transactions between GTC users are carried out through the Internet. Transaction privacy is protected by secure cryptographic algorithms whereby no one can identify who sent the money, who the receiver was, and what amount of money was transferred. GTC transactions processing is done by the whole network of users. Yet no participant has access to the transaction details. All transfers are fully anonymous.