January 2019
Beginner to intermediate
372 pages
11h 17m
English
Content preview from Foundations of Blockchain
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Traceable cryptocurrencies
As we know, the blocks of Bitcoin consist of collections of transactions that can be retrieved and parsed by any participant on the network. Bitcoin was created with the intention of decentralizing control over money. This came with a cost of privacy, as every transaction is public because it needed to be verified by the nodes on the network. This meant every transaction could be traced back to its origin by anyone in the network.
Bitcoin provided pseudo-anonymity because the public addresses of account holders need not be linked to their real identities. This prevented the account owner's identity from being revealed even though all the transactions were public. However, there is the risk of a user's entire transaction ...
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