I guess the writer got an ELIF and hence the whole thing was simplified a lot. Here's my understanding of Monero - It has the concept of ring signatures. I gue

I guess the writer got an ELIF and hence the whole thing was simplified a lot. Here's my understanding of Monero - It has the concept of ring signatures. I guess this is what the author is referring to. When a transaction is posted to blockchain it is assigns coins to a public key (generally known as the address). Now what Monero does is that it obscures the end address and hides who the transaction went to. That said, blockchain doesn't exactly use the concept of double boook keeping. So, you don't really have things going to out of balance. I am writing an article on how cryptocurrency transactions work. It it still WIP.