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Tuesday, May 2, 2017

Blockchain Transaction Anonymity is Necessary Evil

Blockchain Transaction Anonymity is Necessary Evil

One major characteristic of cryptocurrencies that have endeared the technology towards users is the ability to perform anonymous transactions. This ability to perform transactions in an obscure, unclear or unintelligible manner is known as obfuscation.

Confidentiality of information and security of transactions are some of the benefits of introducing such anonymity within the distributed ledger technology environment.

Technically, most platforms involve systems and methods that facilitate computations that are publically defined while assuring the confidentiality of the input data provided, the generated output data or both using homomorphic encryption on the contents of the secure distributed transaction ledger.

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