Protect privacy by scrambling your block chain
Bitcoin is anonymous, at least until you try trading for real money; e.g. Verifying with Mt. Gox. However, even when all of ones' transactions are kept in a bitcoin wallet, there are ways for those willing to go data mining, to find patterns and follow trails as we reported on earlier today. There are ways to defeat this tracking, or at least make it a lot harder. Thanks to having a public Block Chain, it is possible to search for a specific Bitcoin address. Having paid someone once on Bitcoin, you have their address. You can easily go and put that address into the search box at the Block....
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Feathercoin has announced advanced checkpointing in its block chain to protect against 51% attacks. The advanced checkpointing (ACP) feature will remove the need for changes to client software by publishing a feed of checkpoints, via a central node. Checkpointing is a lesser known part of cryptocurrencies. It's a way to maintain the integrity of the block chain by recording blocks out of it. In bitcoin, checkpoints are stored in the code of the client. This enables it to verify its checkpoints against the copy of the block chain it has downloaded, ensuring that block chain has not been....
On-chain coinjoin is blended with off-chain coinswaps in this fascinating new hybrid approach.
In this day and age online privacy and protecting digital data is a pretty big deal. Privacy applies to bitcoin users even more so because they are storing wealth in the digital realm. Governments, hackers, and non-state actors are compromising global citizens private data daily, but there are many steps one can take to protect oneself. Currently, the....
Promoted: Bitcoin mixers help users obscure their transaction histories and protect their identities. The post How Bitcoin Mixers Help Protect Privacy appeared first on Bitcoin Magazine.
Bitcoin was designed to be a decentralized and trustless payment network - with the power to do this provided by the block chain and its ability to publicly confirm the digital currency's digital transactions. Rather contentiously, however, as the bitcoin economy expands, more and more transactions are being carried out off the block chain. Such transactions are tracked on private databases instead of the block chain, and cannot be publicly tracked. There are pros and cons to both systems. So, which are better? Off-block chain or on-block chain transactions? Visible payments. Legitimate....