It has come to our attention that several non-technical people find it hard to follow the pEOS whitepaper and thus are having a hard time understanding how PEOS tokens will work. To avoid further misconceptions, we decided to write this post and try to give an ELI5 explanation on how PEOS tokens can be transferred among shadow addresses and eosio accounts and what this all means in terms of privacy.
To keep it simple, I will start with what we already have. At this time, PEOS does not yet support private transactions and can only be transported between EOS main-net accounts, like any other eosio token.
After pEOS privacy features get enabled…
Some wallets will support pEOS privacy features
These wallets will generate keys for the user, which will be used for the privacy features. These keys will be specific to pEOS and should be backed up properly as they will be used to secure that wallet’s anonymized PEOS tokens. These keys will be used to generate and validate private transactions.
To do this:
- EOS wallets that support pEOS privacy features, will most probably use one of the EOS main-net accounts already setup in the wallet to transmit the PEOS transaction.
- Dedicated pEOS wallets, will have to connect with Scatter, BlockOne’s wallet or some other similar solution to transmit the PEOS transaction through the EOS network.
- PEOS transaction relays. A third option could be PEOS transaction relays, that will be able to relay PEOS transactions for a fee in PEOS. This third option will allow a user to send PEOS without even owning any EOS accounts.
Some EOS wallets may choose to not support pEOS privacy features. These wallets will still be able to see PEOS tokens owned by EOS main-net accounts and send them to other EOS main-net accounts without privacy, like any other regular token.
pEOS dedicated wallet announcement to be developed by the pEOS team
We are also planning to launch our own version of dedicated pEOS wallet. Since we already have enough resources to support such a feat, we decided to build our own in-house wallet. This way we can make sure that there is proper pEOS wallet support at launch and we can also control the UX according to our vision. More information regarding the in-house pEOS wallet will come in a future post specifically about it.
Website: https://peos.one
Telegram: https://t.me/pEOSone
Twitter: https://twitter.com/peos_one
GitHub: https://github.com/peosdev
