In the initial blog or in the part 2 of the block chain we discuss about the why we need the block chain and whome did
Block chain (part 3)
In the initial blog or in the part 2 of the block chain we discuss about the why we need the block chain and whome did it created.which drawback mainly faces by the centralised authority while doing different transactions. In this part we discuss about how the block chain overcome all the drawbacks And the block chain maintains the anonymity.The main issue we will discuss in the block chain part 2 that Satoshi make the ledger public and it maintain by the community.
If the ledger where all the user's transaction are recorded and it becomes public were anyone knows that whome transfer whom money and how much he transfer money to the others. So how this block chain maintain the anonymity of the user.
Within the block chain the anonymity of person maintain When you transact bitcoin, your wallet address and transaction details are recorded in the block chain. As long as there is no link between your wallet address and your identity, your transaction stays anonymous. But as soon as any link is established between your Bitcoin address and who you are — whether it be your IP, your email, anything identifiable — then your cover is blown. Why? Because from that point on, a clever tracker can link your address with all the transactions you’ve ever made on the block chain.This is the reason Bitcoin is Pseudonymous. It cannot give true anonymity. Think of it, once again, as a book. At first, you write down “X address sends Y bitcoin to Z address.” No problem. No one knows who X and Z are. This information is recorded in the book forever. You keep on making transactions. Then one day a little information is leaked out. X address belongs to IP 192.168.0.etc. Who uses this IP? Oh, it’s ramesh. Therefore ramesh is probably the owner of bitcoin address X. And now we look at the blockchain and we follow the money. As we follow the money we see all the transactions ramesh ever made. Let’s hope none of them were dubious…
So how to overcome this?
By using the VPN’s. Virtual Private Networks. Using a VPN service is like using someone else’s internet connection. Companies that run VPN’s house massive servers accept your internet connection and then route it through their IP. This way you hide behind their connection.Use a new Bitcoin address for each transaction. This helps a little. It muddies the waters for people trying to trace the flow of your money