Blind Account and Blind Transfer

Blind accounts and blind transfers are integral privacy features of UPYY, designed to enhance user confidentiality within the blockchain framework.

In typical blockchain systems, being decentralized networks, transaction details are publicly accessible to all network participants. However, UPYY introduces an additional layer of privacy through its blind accounts and transfers.

A blind account on UPYY is a specialized account type offering elevated privacy. It utilizes confidential transaction (CT) technology to obscure the identities of the sender and recipient, as well as the transaction amount. This ensures that users can execute transactions on UPYY while maintaining a high degree of privacy.

A blind transfer in UPYY leverages the privacy capabilities of a blind account. During such a transaction, critical details such as the sender’s and recipient’s addresses, and the amount transferred, are concealed from the public ledger. This level of privacy surpasses that of other cryptocurrencies, like Bitcoin, where such details are typically visible.

To differentiate them from standard accounts, UPYY refers to regular accounts as Public Accounts.

Creating a Blind Account in UPYY:

Users can set up Blind Accounts within their existing Public Accounts. A single Public Account can host multiple Blind Accounts.

Composition of a UPYY Blind Account:

Each Blind Account is defined by two key components: a public key and a UPYY address.

Types of Blind Transfers in UPYY:

1. Transfers to Blind: These are transactions moving funds from a Public Account to a Blind Account.

2. Blind Transfers: These involve the movement of assets from one Blind Account to another.

3. Transfers from Blind: These transactions shift funds from a Blind Account back to a Public Account.

Such features in UPYY are designed to enhance privacy while retaining the fundamental aspects of decentralization and security typical of blockchain technology.