The Digital Hack
The Network
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Digital
currency the anonymous we to spend money and no one can track the payment to
you. Well, that was my view of digital currency until a friend alerted me to a
weak point in the so called decentralized currency’s that the western
government in public don’t like. I will not be giving name of my source only
those detail that give proof that he is qualified to speak on the subject. He
has first in maths from Oxford also a first in computer science. He has worked
on blockchains and cyber security coding in more than one country. I will not
go heavy into the maths of nodes, public private key exchange as a fully admit
it was beyond me, he had to me the normal talk explanation of the weak link.
Nodes And The Part They Play
Before moving to the main subject matter, we must look at how digital currencies work. Nodes validate and broadcast transactions to the network. These transactions showing as “pending” are picked up by a miner or a mining pool that will add them to the blockchain’s universal ledger. Instead of confirming each individual transaction, miners will batch pending transactions into blocks. The confirmed block is disseminated across the entire network and sent back to all nodes to ensure the block is valid and adopts the network’s rules. Once validated, the nodes add the new block to the previous series of blocks, thus creating a blockchain and achieving transactions’ final settlement. To understand how a government and trace a digital currency transaction, yes you do read it correct trace, we must first examine each type of node and its part in the network.
Full Nodes
They are
called full nodes because they thoroughly verify that all the rules of the digital
protocol are adhered to. Full nodes must confirm all the transactions executed
within the Digital network are legitimate and prevent the double-spending
issue, which means the Digitals processed must have not already been spent
somewhere else. A full node must download every transaction that has ever
been executed, all new transactions and all block headers while storing data on
every unspent transaction output until it is spent.
This is why full nodes must download the entire history of the blockchain, every block and transaction and check they are following Digital’s consensus rules. For example, a rule they will check is that blocks only create a certain number of Digital (currently 6.25 per block, until the next halving of 2024). They can ensure that transactions and blocks are in the correct data format or that a transaction output cannot be double spent within a single blockchain. A transaction or a block that violates the consensus rules gets rejected. Think of Digital full nodes like servers. If you run your node, you rely on your server to broadcast transactions to the network.
Light Nodes
Light or lightweight nodes will only download the essential data from processed transactions, are used as wallets and connect to full nodes. They only download the block header, which is the summary of a block containing a hash reference to the previous block, the mining time and the nonce (unique identifying number) of previous transactions. Light nodes only process little portions of the blockchain instead of the whole dataset, as in full nodes. They are ideal for nodes that don’t have a lot of storage or processing capacity and are more cost-efficient to own than full nodes.
Digital Network Trace
Ok, now we
can get to the way you are not anonymous
using a digital currency. In its simplest of terms when I digital coins first
leave Go to Nodes (green). Most of the software to run a node or a digital
wallet is open source so everyone and read the code. However, all a government with
the digital infrastructure ad money can
run minor nodes and miners. The open source nature of the code doesn’t stop
them. They just add their changes and who is to know. After all the blockchain
can’t be attacked by a government and the nodes hold a list of all transaction.
In theory the system is full proof. Also, in public governments denounce
digital currencies as the work of Satan (ok, maybe not their exact words) but we
all know governments view of crypto currencies.
The government
runs nodes and wallets, yes wallets without the heavy maths my source tried to
explain I will the version he gave me. Before a transaction leaves a light node
the information is added a very small bytes of data. This I am told is view by
the software a white nose. The Light Nods then fees The odes then feed Minors
the pending transitions, for validation, see diagram above. All the transaction
are digitally validated because the small change happened before it was signed.
Wallets or minors that fill all the correct security at parse transactions some
of these are from a great distance run my governments. You will not find
anything suspicious about them or he roll they performed.
Before you
cry but the whole networks are decentralized, and transactions can’t be traced end
to end. That little change in the package of data leaves a node but if the node
is government run the transaction is sent to another server outside the currency.
However only the data data is kept.
Western governments work together and when a transition leaves the block chain
if it goes to another node most times run by another government the small added
data is sent to a government data base to be matched. My source spends hours
drawing diagrams and pointing out other ways in the deployment governments are creating to match transaction better.
Which are for another article.
The main thing a government goal is to run a digital currency of their own without their fingerprints on it. They will ensure the currency rises at a good rate and insure it aways performs well making it the most popular currency. They are not at this point at this time, but it will happen.
