For Loki to satisfactorily distinguish itself from other private blockchains, it has the following unique exclusive features.
Service Nodes
Service nodes are the staking elements of the mixed work proof and stake proof agreement prototype on the Loki network.
For you to operate any of these service nodes, you have to lock a specific proportion of your LOKI tokens to receive part of the block rewards. It protects the LOKI network from Sybil attacks brought about by market established incentives.
If an attacker attempts to collect extra ‘coins’ to control the system, the cost of remaining supply increases making the attack extra costly.
The Service Nodes are also able to develop Service Node Apps to administer and reserve private information.
Mixin Distribution
Ring signatures generally include a valid, unused product and several decoys known as mixins. The Mixins resemble unspent proceeds but established on spending manners. It means any other person can’t determine the oldest mixin in a network. It is because the ratio of picked outputs represents the chances of an older unspent mixin comprised in the ring signature.
Loki Messenger
The Loki messenger is the first Service Nodes designed for the Loki network. It is a decentralized encrypted and confidential messaging service. Other messaging apps are entirely made using old servers that can be a victim of fraud and scammers. For instance, Facebook, after all the promises that users are the only clients we come to realize that advertisers are the main clients. We, as users, are being ‘sold’ to advertisers. With Loki Messenger, public-private key cryptography is utilized to preserve privacy.
The sender publishes their message to three randomly assigned Service Nodes, and it is approved with the receivers public address. The receiving address is the owner’s public key.
Every Service Node is capable of holding messages for 24 hours in the message corner.
Lokinet
Loki has built a unique kind of network for anonymous browsing known as Lokinet. The net uses a market-oriented Sybil assault obstruction blended with onion routing to develop a new unique channel to access the internet.
Onion routing means every node only focus on where they receive their data from and where they send it to. They can’t recognize the origin of the package. It means they don’t know whoever you are and where you are. You can access the Loki SNApps any other site of your choice without disclosing your location and IP address.