04-20-2020, 06:39 PM
Thanks for the detailed and informative thread Jordy. I must say this post enhanced my knowledge a lot. Especially the offshore hosting part was really informative.
Being a TurtleCoin Core Developer myself, let's elaborate on the crypto currency payment portion.
Bitcoin has a public blockchain and therefore the transactions are traceable. You know who's sending you money (of course not identity, but his public Bitcoin address).
On the other hand, crypto currencies like Monero, TurtleCoin have a private blockchain. You do not get to know the address of the person sending you funds. Here in private block chains, we use something called payment ID, which is a 64-character hexadecimal string that can be parsed along with the other transaction input, and that's the only means of identification of the person sending you funds.
Furthermore, projects like Monero and TurtleCoin were forked from Bytecoin, which in turn was forked from CryptoNote. Now what's CryptoNote? It's the original private blockchain made from scratch by their Developers. You can check out the project on GitHub. Hope this was informative!
Regards,
Being a TurtleCoin Core Developer myself, let's elaborate on the crypto currency payment portion.
Bitcoin has a public blockchain and therefore the transactions are traceable. You know who's sending you money (of course not identity, but his public Bitcoin address).
On the other hand, crypto currencies like Monero, TurtleCoin have a private blockchain. You do not get to know the address of the person sending you funds. Here in private block chains, we use something called payment ID, which is a 64-character hexadecimal string that can be parsed along with the other transaction input, and that's the only means of identification of the person sending you funds.
Furthermore, projects like Monero and TurtleCoin were forked from Bytecoin, which in turn was forked from CryptoNote. Now what's CryptoNote? It's the original private blockchain made from scratch by their Developers. You can check out the project on GitHub. Hope this was informative!
Regards,