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You're reading from  Mastering Blockchain - Fourth Edition

Product typeBook
Published inMar 2023
PublisherPackt
ISBN-139781803241067
Edition4th Edition
Concepts
Blockchain
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Author (1)
Imran Bashir
Imran Bashir
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Imran Bashir

Imran Bashir has an M.Sc. in Information Security from Royal Holloway, University of London, and has a background in software development, solution architecture, infrastructure management, and IT service management. He is also a member of the Institute of Electrical and Electronics Engineers (IEEE) and the British Computer Society (BCS). Imran has extensive experience in both the public and financial sectors, having worked on large-scale IT projects in the public sector before moving to the financial services industry. Since then, he has worked in various technical roles for different financial companies in Europe's financial capital, London.
Read more about Imran Bashir

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Privacy

Privacy in blockchain can be divided into two main categories based on the type of service required. These categories are the anonymity of the users and the confidentiality of the transactions. Anonymity is concerned with hiding the sender’s or receiver’s identity, whereas confidentiality addresses the requirements of hiding transaction values.

The fundamental reason why blockchains are not privacy-preserving is that every transaction in a blockchain needs to be verified and executed by every participant on the network. While this property of executing all transactions by all nodes gives blockchains their powerful integrity property and execution guarantee, this is also a weakness.

This weakness is the result of inherent transparency in blockchains. As all transaction data, including account details, inputs, outputs, and states are visible to anyone on the blockchain, privacy cannot be preserved.

One solution that comes to mind is that we could somehow...

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Mastering Blockchain - Fourth Edition
Published in: Mar 2023Publisher: PacktISBN-13: 9781803241067
© 2023 Packt Publishing Limited All Rights Reserved

Author (1)

author image
Imran Bashir

Imran Bashir has an M.Sc. in Information Security from Royal Holloway, University of London, and has a background in software development, solution architecture, infrastructure management, and IT service management. He is also a member of the Institute of Electrical and Electronics Engineers (IEEE) and the British Computer Society (BCS). Imran has extensive experience in both the public and financial sectors, having worked on large-scale IT projects in the public sector before moving to the financial services industry. Since then, he has worked in various technical roles for different financial companies in Europe's financial capital, London.
Read more about Imran Bashir

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