How to achieve priavte transaction?

Question

we want blockchain to keep track of transactions between company a, b, c and net out the balance. The exact transaction will be invisible to the company that is not part of the transaction.

For this I have 3 addresses on a node using getnewaddresses. But how do I make the transaction private between any two company.

What would be the best solution for this problem. Also, is making 3 addreses using getnewaddress the best approach?

Answer 1

First, for 3 companies it would be better if you can have three different nodes to run multichain. Running 3 nodes has 3 individual wallets i.e. one for each node and the balanced can be tracked efficiently. On the other hand if you use 1 node and use getnewaddress it would produce as many addresses but they are all associated with the same wallet.

 

Secondly, to make a transaction private between two companies I would recommend using streams functionality and create streams between those companies to make sure the other parties in the chain don't have access to contents in the created stream.

Check out the below link.

https://www.multichain.com/blog/2016/09/introducing-multichain-streams/

Comments

Thanks for the reply.
Can you please explain how streams can be used for sending assets between two parties. I know that streams can be used to store data but how can we manipulate this data

Suppose,
I have to send $100 from A to B and 300 from B to A. Do I have to create different streams for different transactions between 2 parties.
Also, Can I have one asset for all the 3 nodes with each having different values. Example:

Asset1 200 company A
Asset1 400 company B
Asset1 500 Company C

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You cannot make private transactions that transfer MultiChain assets, because the fundamental idea of assets on a blockchain is for all nodes to be able to track all transactions in order to verify asset movements for themselves. There are technologies in development that can improve this but they are not yet implemented in MultiChain – you might find this article helpful:

https://www.multichain.com/blog/2016/11/understanding-zero-knowledge-blockchains/