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I think I got the below right, correct me if wrong: What's stored in the blockchain that makes it work are public keys, and how you can talk to nodes who can a
by tenebrisalietum 4y ago
I think I got the below right, correct me if wrong:
What's stored in the blockchain that makes it work are public keys, and how you can talk to nodes who can append to the blockchain have to work over a network. You can always walk the whole chain at any time and account for all the activity of all public keys, and that is actually required because it's the primary way that the network knows "who" has what.
So what connects the public key to a person?
If:
- private keys are never in the hands of a third party (public keys don't matter), and
- transaction processors/miners are only available over secure channels that somehow dissociate the involved keys from loggable networky things like IP address, and
- information like IP address is not stored in the blockchain,
then a blockchain would be untraceable to anyone who does not have a complete view of all Internet activity between all the participants.
Anyone with your private keys (which you can make more up any time you want) could transact under those keys as long as they can talk to enough processors/miners through any transport method, and alter "your" stuff, that's why you guard those with your life.