How it Works

This page contains a simple explanation of how Russell coin works, or more specifically how Russell coin works. For more information about Russell coin, see the whitepaper.


Russell coin can be summarized as a distributed payment network, where computing power is required to create new "COINS". It can be used to send money around the world anytime and anywhere, just like E-mail. Russell coin's "address" is similar to an E-mail address for sending and receiving payments. Russell "based on the currency, in general it is very similar and in the currency, but it USES a very different mechanisms to keep the balance of address in order to improve the scalability, and contains some innovative new features.


Russell coin maintains the address balance using an independent "balance sheet" called the account tree, rather than using transactions to get the address balance. Unlike of the currency, the balance of any address can easily be checked, and don't need too much computation, because the network of the final balance each non-null address are stored in the account in the tree, and each node in the network has a copy of the account tree. The cryptographic property of the account tree mechanism ensures that the node has valid integrity and consistency with which version of the account tree is valid.


The transaction is how to send COINS between different addresses. More broadly, trading is an instruction to apply some type of modification to the account tree. For example, "move X from address A to address B" or "update address C's withdrawal limit". A normal transaction would simply reduce the balance of the input address and increase the balance of the output address. There are no scripts, only the predefined list of valid transaction types. Public key cryptography is used to sign transactions like the currency of the world, but this is done to prevent trade malleability.


Mining is a process that controls the coin casting process by rewarding miners for solving expensive problems. Mining is also used to confirm the transaction process and allow the nodes to agree on the order of transactions, so the miners are rewarded by contributing their computing power to protect the network. In Russell coin, all nodes will dig in reward, this is a special address in the account tree, its balance at the beginning of the coin is equal to the total supply, and with the piece reward paid to miners.