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RE: The History of Delegated Proof-of-Stake (DPOS)

in #blockchain5 years ago

When you say that all witnesses can agree to freeze an account transaction. So, you mean that every transaction in the chain is identified by the account name? Is that how you know which transaction to freeze or ignore? Forgive my ignorance, but I'm having a hard time understanding this.

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When you make a coin transfer, your wallet creates a transaction that includes the "account id" that holds the money. In the case of bitcoin, this is a bitcoin address. In the case of Steem, it's an account name like "mballesteros".

So yes, all the block producers can see this account id (they have to be able to see the account id in order to process the transfer) and they can decide to not put the transaction in their block if they have decided to ignore transactions from that account id.

Thanks for the prompt response, I thought each transaction was just a string of numbers with no identification or relationship to any account, I thought that was untraceable.

Numbers can be very traceable.

In cryptocurrency networks like Bitcoin and Steem, that don't have "privacy" features built in, you should assume your transactions are traceable if someone wants to put sufficient effort into the task.

In part this is true because most people use exchanges and exchanges are mostly required now to collect identity information from their customers.

Now I understand a little more. I'll be looking forward to the next posts to continue learning. Thank you very much, you have the patience of a teacher. 👍