Anonymous transaction EDC (Translation instruction, examples and reasons for use)
Why anonymous transactions are needed
Very often, the media reports that anonymous transactions are needed exclusively for extortion, ransom demands or payments in the Darknet. It worses the already quite controversial reputation of cryptocurrencies.
But that’s not quite true. In reality, for criminal purposes, most scammers and extortionists prefer to use even more anonymous fiat cash.
The blockchain of most cryptocurrencies is absolutely transparent and anyone can trace all transactions that were sent or received to a particular wallet. It is enough to know only the wallet number to track all payments from it. If the user transferred money from the wallet to the exchange, where his account is verified or bought some things for cryptocurrency, everybody can find out all his personal data, including his address.
Why anonymity is important
Cryptocurrency exchanges are regularly hacked. Hackers steal not only traders ‘ money, but also personal data of traders.
Because of these circumstances, anonymity becomes important. Payments in cryptocurrencies can be tracked by anyone, including scammers and hackers.
Even in the work of banks, the anonymity of payments plays a fundamental role. Only at the motivated request of tax or judicial authorities banks provide information about the funds of their clients. In the case of cryptocurrencies, anyone can track transactions interest to him.
Not all people agree to accept the lack of anonymity and complete transparency of personal life. Cryptocurrency developers have different solutions to ensure the anonymous transactions.
How other cryptocurrencies solve the problems of anonymity
There are two main approaches to anonymity.
The first approach is the use of mixers. The most popular are the mixers of Bitcoin. A mixer is a service that mixes Bitcoin transactions or transactions of other cryptocurrencies. At the result it becomes more difficult to trace the origin of cryptocurrency. The main problem of mixers is: mixing a transaction the user can get someone’s “dirty” transaction. Mixers mix all money in a row, including “dirty” money. The user has a chance to get someone else’s “dirty” money. It can cause him new problems.
The second approach is creation the completely anonymous cryptocurrencies. The most popular cryptocurrencies are Monero, Dash, Zcash, Beam и Grin. Monero is actively used in the gaming and entertainment industry, where the issues of anonymous winnings are the most relevant. The main problems of existing anonymous cryptocurrencies are complex payments. It makes difficult to work with the blockchain and affect to the network bandwidth. The speed of payments in the existing anonymous cryptocurrencies is ten times higher than the speed of payments in Bitcoin but these speeds can not be compared with the speed of payments in EDC Blockchain.
How EDC Blockchain solves the issues of anonymity
The complexity of anonymous transactions in all existing anonymous cryptocurrencies affects to the overall work and scalability of their blockchain. Anonymity affects to the work of blockchain and comfort of working with cryptocurrency.
EDC Blockchain is coming to anonymity by its own way. According to the developers of EDC Blockchain , anonymity is a personal matter for everyone. Each user of EDC Blockchain wallet is free to choose how the anonymity of transactions is important for him. The price of anonymity is 100 EDC. It is the cost of anonymous transactions in EDC Blockchain.
For comparison, the common transaction in EDC Blockchain costs 0,001 EDC. This allows, on the one hand, not to affect the overall scalability and work of blockchain, to ensure high speed of payments and convenience of working with the wallet. On the other hand, this approach allows everyone, if he really needs it, to make anonymous payments.
How to make anonymous payments
Enter the wallet, in the left column under the total balance of your wallet click on the “Send” button. As a result, the following window appears:
To make a payment in the “Send” window, it is necessary to fill the following fields: name or address of payee, payment amount in EDC or USD, specify a comment to payment (if necessary) and enter a password to confirm the payment. The cost of commission for unanonymous payment is 0.001 EDC.
If you want to make an anonymous payment, it is necessary to switch the toggle to “Anonymous transaction” in the “Send” window, which is located under the “Enter name or address” field. As a result, the following window appears:
In this window it is necessary to specify the name or address of the payee, the amount of payment in EDC or USD and enter a password. The cost of commission for anonymous transactions is 100 EDC.
Links:
Website: https://blockchain.mn
Wallet: https://wallet.blockchain.mn
Blockchain: https://explorer.blockchain.mn/
Leasing program (large coin holders): https://explorer.blockchain.mn/rich-list
Bounty: https://bitcointalk.org/index.php?topic=5143869
Login at Bitcointalk — lylya75
