...the transfer of funds is done off the blockchain? But won't the blockchain record the transaction between addresses, when the recipient spends those coins again? confused...
And what prevents the sender from double spending the coins if they are the ones generating the priv key?
And what prevents the sender from double spending the coins if they are the ones generating the priv key?
Bump. I am on the edge with investing in the pre-stage; hoping to get some answers about the above before pulling the trigger.
no BitKey transactions will be realized over tcp socket implementation. the sent key will be redeemed to an locally
privkey once it arrives at the destination. there will be no chance of double spending it.
OK that's good news on the 2nd point, but what about the first? Is't it possible that when the recipient later spends the coins that they received anonymously, one could look at the txins for that spend transaction and find a matching amount on the blockchain from the original sender's txout? Trying to get enough info about how your system works to decide how strong this anonymity is going to be...
