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> As far as I understand, the approach outlined in the exchange's MAD option requires the exchange to prove that they have destroyed the funds. They explain in
by oleganza 13y ago
> As far as I understand, the approach outlined in the exchange's MAD option requires the exchange to prove that they have destroyed the funds.
They explain in the FAQ: http://nashx.com/FAQ http://nashx.com/FAQ
They create a special address (hash of a public key) which would take thousands of years to generate from some private key. So by seeing that funds moved to such address, people can be sure the money is destroyed and not moved to a "long-term retirement fund". Their example: "1nashx1username11username22Wd4keb"
- bostik 13y agoThank you, I had somehow missed the FAQ. That kind of completely bogus address is actually even better. If one wants to retain anonymity, it even encourages to use one-off ("not used anywhere else, not trackable across web forums") account names for the service.