Topic: A simple bitcoin Q/A. Learn new and interesting stuff about bitcoin. - page 4. (Read 27314 times)

Alright, so in permissioned blockchain, data can be manipulated. So wouldn't it much riskier? I get that a few companies would want to use this permissioned blockchain, but in legal terms, companies are supoosed to leave their records public, that is a conflict.

Honestly, public blockchains are better than the permissioned blockchain, not that anything is wrong with it, but the possibility of data manipulation is a big no-go.

The replies are wonderful, great contributions guys. 

Traditional blockchain is a public blockchian (or call it permission-less blocchain) anyone can read the data on the blockchian. Anyone can write also but that is of course through a process and by following set of rules. Any one can run a node and do the mining process (transaction verifications). Public blockchian must be decentralized so it will be difficult to tamper  the public blockchain.

Permissioned blockchain is a private blockchain and controlled in way who can read or write data into blockchain. Only verified entities can run a permissioned blockchain node. This can be used by organization or group of organization to exchange information and record transactions in a secure way.

This is important to note that Permissioned blockchain can have almost all the features of permission-less for example decentralization, transparency and privacy. It is wrong to think Permissioned blockchains are not decentralized. For specific business needs permissioned blockchian is more suitable option.

1) The basic difference between the two is that someone is there to control the permissioned blockchain, while a traditional blockchain is controlled by no one, not even its creators.
2) Permissioned blockchain is equivalent to a private blockchain (can hide their ledger as well) and a traditional blockchain is equivalent to a public blockchain.
3) Permissioned blockchain usually has a set of pre-appointed node validators and everyone can't participate to become a node validator. A traditional blockchain has no such restriction and anyone can participate in mining as long as they have required equipment or assets (in case of POS).
4) Permissioned blockchains are much faster compared to traditional blockchains but are less secure also. Node validators can collaborate to gain maximum control and gains even at the expense of that blockchain project.
5) Ripple is a good example of Permissioned blockchain and Bitcoin of a traditional blockchain project.
DPOS based projects like EOS can be placed in between these two types of blockchains.

 Normal traditional Blockchain, that can be referred as public blockchain also,every body have same rights on the blockchain. Every body will have same read/write rights. The "Bitcoin" blockchain will fit into this example. (or any other Alt coin which is using public blockchain)

Now in permissoned blockchain, the read/write rights on the blockchain will differ from individual to individual.Actually , Blockchain that will be adopted by business most likely will be permissioned or restricted blockchain only.

Let me take a hypothetical example of company like Amazon which is  using blockchain technology. This company is selling goods and shipping to the customer. Customer will now have read access to that blockchain in which company has generated the transaction/invoice number (company will not allow customer to change contents in the invoice generated) and company will have read/write access for that transaction. Apart from that customer others will not have any kind of read/write access (customer identity needs to be preserved).

Now, I come to feedback section. Here everybody can be granted read/write access. Company can read/write there, customer can read write there and others also read that feedback and ask further question there about the customer experience.

A permissioned blockchain is a limited version of normal blockchain in term of permissions.With a permissioned blockchain,the company behind it can choose miners, who can serve as a node etc.. (Like Ripple does).In the contrary,a normal blockchain anyone can be a miner and contribute to the network in general.

I came across a concept that might be related to altcoins more than it being related to bitcoin, so I decided to bring it up here:

Question: What is a  permissioned blockchain? What is the difference between a permissioned blockchain and a normal traditional blockchain?

Thank you for the kind words. You should participate in this too, doesn't matter if you're right or wrong,so long as you get to learn something.

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I was actually thinking of moving this thread to off-topic, so that bots could be nuked, but the more they get nuked, the more bots seem to appear.

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Read the replies above, I'll update the OP soon . Haven't done that in a while..

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Read the title of this thread.

I didn't fully understand the meaning of it. But here is my understanding, stealth address is like a one-time address that is given to the sender so that the sender can only see their own transaction and not the other transactions.
It gives additional security in the transaction. That's all I understand. Still confuse a little bit.

Question:  What is a stealth address? How does it work and how does one use them? 
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Stealth address is a way of security for the receiving end when a bitcoin transaction occurs. Its kind of like when you are hacking a certain address, you wouldn't really use the same address to hack again since there is a chance you might get caught. The concept of "Security" is not limited to people who really want to perform a transaction properly since Stealth addresses can also be used by people who have malicious ordeals. Stealth addresses are a way to prevent people from easily discovering you, just like how changing your IP address or having an anonymous Ip address can prevent someone from hacking into your computer.

your question is just Bitcoin or both Bitcoin and Altcoins?

Question:  What is a stealth address? How does it work and how does one use them?  

Stealth address can be described as a pseudo address generated by a receiver to receive crypto without others tracking the transactions. To some people, it adds extra security since there is no link between the stealth address and any other transaction address they might have used or use.
   How Stealth Address Works
Lets say I want to receive some cryptos anonymously from a friend, i will send my friend the stealth address which i generated. When the cryptos are sent to me, a random unique address (pseudo address) is created indicating that the transaction has gone through the blockchain with no link to other transaction address I may have used.
People use stealth address as an additional security in relation to anonymity in crypto businesses.    

So not only has this thread provided people like you and I with fantastic knowledge but its also led to people who are trying to abuse the system via plagiarism in order to earn merit getting banned. Thats the very definition of 2 birds 1 stone.

Hey guys, I just wanted to say thank you to pugman, billgator, and those that gave genuine answers to the questions they've asked. I haven't participated in this Q&A but I have been following it. I have learned a lot of things from this thread and I think this is a brilliant way of encouraging forum members to learn more about Bitcoin.


It's sad to see how many people in this thread have taken advantage of this by attempting to get away with plagiarism just to earn quick merit  .

Plagiarism from
https://www.mycryptopedia.com/everything-need-know-stealth-addresses/

The stealth address is a method where additional security can be granted to a user of a cryptocurrency. For example, if someone wanted to receive a number of tokens of a cryptocurrency from a sender as a payment for work, but didn’t want anyone else to know about it, then they could give the sender a stealth address. When the sender sends the funds to the receiver, a random unique address is created where the funds will be shown to have gone on the blockchain. What this means is there is no link between the stealth address and any other transaction address the receiver may have used. This therefore provides a layer of anonymity because no one will be able to see how the receiver spent their received funds.

Go and shitpost somewhere! This is not the place for you to prove your plagiarism skills and earn merits. A one liner shitposter who has no knowledge other than bounty hunting came to this thread to beg for merits.

Reported you here : https://bitcointalksearch.org/topic/m.40162174

Dark Wallet and Samourai has stealth address features. But I am not sure how this will work  Stealth address has more disadvantages and it is difficult to use in bitcoin environment.

To my own simple understanding of how stealth address work, a stealth address is a way to let someone pay money to somewhere that the receiver can find and have the public and private key for. The payee provided information for the stealth address such that they can determine the public and private key but payer can only determine a public/receive address. The payee didn't specify that exact receive address but can scan a valid range to find it based on a shared secret between payer (sender)and payee(receiver). The mechanism is designed so that only the payee will have the private key of the destination address.

Pls this Q&A still on?cause i will like to join and participate to earn merits! Tanks for the great work here to encourage members.

In the last answer, someone says the concept was introduced by Peter Todd. Some other people usually say that. It was not. As I said before, ByteCoin comes up with the concept. But in his concept, the sender could have the money back because both could compute the private key. CryptoNote paper comes up with a solution to this problem. Amir Taaki suggests address format and some use cases and only them Peter Todd make the introduction paper to Bitcoin.

I usually read stuff like this from bitcoin.stackexchange.com ,and from what I have come across a reply that explains about stealth addresses in brief and a few things I noticed was:

- Stealth addresses don't necessarily provide 100% anonymity.

- The difference is that stealth address are based on providing unique addresses, other than manually providing different addresses.

Read this reply: https://bitcoin.stackexchange.com/a/29648/5757