Welcome to QRYIX Exchange
Privacy protection mechanism
The immutable and distributed characteristics of blockchain technology can indeedavoid the problem of users' privacy being mastered by centralized institutions, whichleads to being sold and hacked, etc., but the open and transparent ledger allowsmassive user data to be exposed on the chain, and the privacy problem is still like anattic in the air, which has not been fundamentally solved. For example, the originalshopping on Taobao, now decentralized, not through Taobao transactions, both partiesdirectly mail. Although no Taobao has the data of these two transactions, theirtransaction data is recorded on the blockchain network, and anyone can view it.
Based on the hybrid model of account and UTXO, QRYIX implements the blockchainprivacy transaction system, which retains the account system while using the UTXOsystem, adding ring signatures and one-time addresses, allowing the account to flowfreely between privacy and public, while having untraceable and unconnected.
In addition, QRYIX uses ring signature technology to achieve privacy protection. Ringsignature refers to the technology of hiding the private key from n public keys, which isspecifically used to hide the transaction sender (address/public key) on the blockchain.
QRYIX uses the concept of state to store a series of accounts, each with its own identityand unique data. In some cases, the accepting account has a code that needs to beexecuted, and the transaction triggers the execution of that code, then the internalmemory of the account may change, and additional information may even be createdto be sent to other accounts, resulting in a new transaction.