CryptoNote

CryptoNote is an application layer protocol designed for use with cryptocurrencies that aims to solve specific problems identified in Bitcoin. Namely:


 * Traceability of transactions
 * The proof-of-work function (see Bitcoin network)
 * Irregular emission
 * Hardcoded constants
 * Bulky scripts
 * Financial privacy

The protocol powers several decentralized privacy-oriented cryptocurrencies, including Monero, MobileCoin and Safex Cash.

Nothing is known about the original author of CryptoNote, "Nicolas van Saberhagen." Its mathematical component and motivation are described in the article "CryptoNote Whitepaper", released in two editions: in 2012 and in 2013. Launched in the summer of 2012, Bytecoin was the first cryptocurrency to use this technology. Later, several teams launched their networks, based on the Bytecoin code.

Emission
Just like in Bitcoin, miners are rewarded for finding solutions. But the stepped release curve characteristic of Bitcoin has been replaced with a smooth one in CryptoNote: the reward decreases with each block.

One implementation of the CryptoNote protocol has resulted in a non-smooth emission curve, specifically, the S-curve of the Safex Blockchain, which was designed to match the Diffusion of Innovations technology adoption curve theory.