# What is Stroop?
Stroop is a cryptocurrency protocol that enables users to securely store, manage, and transfer digital assets. It was developed by the Swiss-based company Stroop Technologies AG and released in December 2019. The protocol offers support for both public and private networks, allowing users to choose the network type that best suits their needs.
# How Does it Work?
The Stroop protocol uses a combination of two cryptography algorithms – RSA (Rivest–Shamir–Adleman) and SHA-256 (Secure Hash Algorithm 256). These algorithms provide strong security against malicious attacks on user accounts or transactions as well as ensuring data integrity across all nodes within the network.
In addition to these cryptographic algorithms, Stroop incorporates several additional features to ensure secure storage, management, and transfer of digital assets:
1. Multi-signature authentication – This feature requires multiple signatures from authorized parties before any transaction can be completed, making it much more difficult for an unauthorized party to gain access to funds or other sensitive information associated with a specific account;
2. Decentralized identity verification – By utilizing decentralized identity verification techniques such as biometrics or facial recognition technology, each user’s identity can be verified quickly and efficiently;
3. Secure messaging – All messages sent between nodes are encrypted using AES encryption technology which ensures that only authorized members can view them;
4. Atomic swap mechanism – This allows users to exchange different cryptocurrencies without having to go through a third party exchange service while also avoiding double spending issues;
5 . Transparent fee structure – All fees associated with each transaction are clearly visible so there’s no confusion when sending money across the network;
6 . Smart contracts – The protocol supports smart contract functionality which enable automated execution based on predefined conditions set by users such as time constraints or asset release upon completion of certain tasks or events.;
7 . Lightning Network Support – The lightning network provides fast payment processing times enabling near instant settlement of payments made using stroops native currency (STRP); 8 . Flexible API integration – Through its flexible APIs developers have easy access for creating applications built on top of stroops blockchain infrastructure.; 9 . Scalability & Performance – With throughput speeds up 10x faster than Ethereum & Bitcoin’s networks combined stroops blockchain remains highly efficient even under heavy load scenarios.; 10 . Open Source Protocol – As an open source platform anyone is free use modify integrate into existing products & services provided they adhere strict licensing restrictions imposed by stroops developer team.;
