ebox ($EBOX): Secure Digital Escrow for Private Transactions

ebox is an innovative digital escrow service built for the Web3 economy. It enables users to exchange crypto funds securely with optional privacy. ebox leverages decentralized smart contracts which hold funds until predefined release conditions are met. This eliminates fraud or errors.

Unlike transparent blockchain transactions, ebox offers confidentiality through encrypted wallet addresses transmitted off-chain. Users can choose between public or private transfers on a per-transaction basis. The protocol also facilitates private over-the-counter deals using crypto held in escrow.

As decentralized finance progresses, ebox meets the growing need for secure, flexible value exchange mechanisms with user-defined privacy. It brings escrow and privacy together on blockchain rails for the first time.

What Is ebox ($EBOX)?

ebox ($EBOX) is a groundbreaking solution addressing a common and damaging issue in cryptocurrency trading—accidental transfers to incorrect addresses. 

Leveraging the robust security of the Ethereum blockchain, ebox introduces a smart contract-based digital escrow service to eliminate the risk of financial loss during cryptocurrency transactions.

In addition to enhancing security, ebox prioritizes user privacy. By utilizing ebox for transactions, the typically traceable nature of blockchain transactions is disrupted, concealing the origin and destination of funds. 

For situations demanding heightened discretion, users can opt for an extra layer of privacy at a slightly increased service fee. In this mode, sender and recipient addresses are locally encrypted on users’ devices. 

This ensures that no clear-text addresses are transmitted over the internet or stored on-chain, allowing users to remain anonymous.

Furthermore, ebox facilitates Over-the-Counter (OTC) trading of Ether and ERC-20 tokens. Transactions in this environment require both the sending and receiving parties to contribute before fulfillment, creating a secure and fraud-resistant OTC trading space. 

Protected by the ebox smart contract, OTC transactions on ebox are guaranteed to occur in a fair and mutually beneficial manner for all parties involved.

What Makes ebox Different From Others?

ebox stands out due to its innovative approach to secure and private cryptocurrency transactions. Here are the key elements that make ebox unique:

1. Two-Factor Authentication:

• Users can deposit or retrieve funds within the ebox smart contract.
• To ensure that only the intended recipient can access the funds, the ebox smart contract employs a two-factor authentication process.
• The recipient’s address, authenticated through MetaMask, is one part of the authentication.

2. Passphrase Security:

• The second part of the authentication is a passphrase chosen arbitrarily by the sender.
• For fund retrieval, the recipient must be connected to ebox via MetaMask using the specified recipient address and know the correct passphrase.
• Due to security concerns, the passphrase is a critical element not stored in clear text within the smart contract.

3. Hashing for Security:

• The ebox smart contract stores only the Keccak-256 / SHA-3 hash value of each transaction’s passphrase.
• Hashing, a fundamental concept in blockchain technology, ensures the security and reliability of ebox.
• Storing hashed passphrases aligns with the core principles of blockchain security, making it resistant to unauthorized access.

4. Decentralized Validation:

• Any passphrase supplied by a user seeking to retrieve funds can be validated by ebox as part of its operation, even if the user does not know the passphrase.
• Users enter passphrases into the smart contract, which computes the passphrase hash and compares it with the saved hash.

5. Blockchain Integration:

• The safety and reliability of ebox are intertwined with the security features of the blockchain itself, making it virtually unbreakable.
• By leveraging blockchain technology and hashing, ebox ensures the integrity and confidentiality of user transactions.

ebox Founders: Who Are They?

The founders of ebox are Lukas Schiefer, Lukas Pratschner, and Paul Simode. They have known each other for over 15 years and collectively bring extensive experience, cryptocurrency involvement, and diverse expertise to the project.

• Lukas Schiefer:
  • Studied renewable energy at the University of Applied Sciences in Vienna.
  • Community manager in crypto for various platforms.
  • Long-term evangelist in the cryptocurrency industry.
• Lukas Pratschner:
  • Experienced cryptocurrency angel investor and researcher.
  • Background in chemical process engineering, laboratory technology, certification, auditing, and inspection.
• Paul Simode:
  • Early interest in technology, with experience in C/C++ and Assembly languages in cybersecurity.
  • The software developer is responsible for the technical aspects of ebox.

EBOX Utility:

1. Reducing Fees:

Users can utilize the ebox service with a significant discount in fees.

2. Deflationary Token Model:

Part of the fees generated is used to buy back EBOX tokens, which are then burned.

3. Payouts from Fees:

EBOX holders receive a share of the fees earned by ebox as regular payouts.

4. Staking for Passive Income:

• EBOX can be staked for the first four years to generate passive income.
• 18% of the token supply of EBOX is reserved for staking rewards.

5. Governance:

EBOX is used for governance votes to determine various company-relevant decisions.

Fee Structure:

For Transactions Below $300:

ebox is free to use.

Holding:

Regular service: 1.5%

Using added privacy: 2.0%

OTC: 3.0%

EBOX Amounts and Corresponding Fees:

• 5000 EBOX: 0.8%, 1.0%, 2.0%
• 15,000 EBOX: 0.4%, 0.8%, 1.0%
• 50,000 EBOX: 0.3%, 0.6%, 0.8%
• 100,000 EBOX: 0.2%, 0.5%, 0.6%

Use of Service Fees:

• 25% for profit.
• 25% for marketing of ebox.
• 25% for buyback and burn of EBOX tokens.
• 25% for payouts to tokenholders.

Conclusion

ebox makes cryptocurrency transactions super safe and private. It encrypts wallet addresses, making it nearly impossible to trace funds back to anyone. Users can choose privacy settings for each transaction, balancing transparency and confidentiality. The system includes a digital escrow to ensure secure transactions and prevent fraud or mistakes.

Whether you want private over-the-counter deals, secret token experiments, or a safe and confidential funds transfer, ebox is your all-in-one solution. It runs on the strong $EBOX token and works across blockchains, promising fast adoption. 

By blending decentralization with user-friendly privacy, ebox changes how decentralized apps (dApps) and Web3 protocols handle secure, permissionless value exchange. In a nutshell, ebox simplifies and leads the way in secure, private transactions on the blockchain.

FAQs

How can users stake EBOX for passive income?

Users can stake EBOX to generate passive income, and 18% of the total token supply is reserved for staking rewards. Staking allows users to earn rewards by holding and participating in the network.

Is ebox compatible with cross-chain atomic swaps?

Yes, ebox is powered by the $EBOX token and integrates cross-chain atomic swaps, allowing for seamless transactions across different blockchains.

How quickly is ebox expected to be adopted?

The adoption of ebox is anticipated to accelerate rapidly, given its robust features, privacy options, and integration with the $EBOX token.