Author Topic: What if BitShares could have perfect privacy?  (Read 17285 times)

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Offline sittingduck

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Offline bytemaster

What if you combined Confidential Transactions (https://bitcointalk.org/index.php?topic=1085273.0) with Stealth Addresses?
What if you could do this while still processing 100,000 transactions per second?
What if Cryptonomex's first worker proposal was to implement this at a protocol level (no GUI support) for 2M BTS?

Stealth Transfers enable users to maintain their financial privacy even though all transactions are public.  Ie: better than Dash or other alternatives.

Every account would have three balances:

Public Balance - every can see the balance changes and the parties involved
Blinded Balance - everyone can see who is transacting but not the amounts involved
Stealth Balance - both the amounts and parties involved are completely obscured

Account owners may set a flag that allows their account to receive(or not) transfers of these kinds Asset issuers can enable or disable the use of each of these types of accounts.

Using the "temp account" which has no permissions required, users can transfer a stealth balance to the temp account and then use the temp account to register a new account. In this way users can use stealth funds to create anonymous accounts with which they can perform other actions that are not compatible with blinded balances (such as market orders)

Stealth transfers that do not specify any account id cannot pay referral fees so 100% of the transaction fee is paid to the network.
Stealth transfers can have an arbitrarily large size and therefore the transaction fee for stealth transfers is based purely on the data size of the transaction.

« Last Edit: June 12, 2015, 10:48:32 pm by bytemaster »
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