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The following archive was created by hippie-mail 7.98617-22 on Sat Apr 10 1999 - 01:18:26
Ian Grigg (iang@systemics.com)
Sat, 6 Feb 1999 20:55:17 -0400 (AST)
> > The second phase is the transfer between public keys. In the
> > nymous concept, the public key is the identity, and the secret
> > key gives access to the funds stored within.
>
> So you can't change your public key without giving up your old identity?
Semantic error, sorry. Your identity *is* your public key.
However, the concept of identity is not a good match. The
keys are lightweight accounts or heavyweight coins, depending
on how you intend to use them. Identity per se is not built
in to the system at that level - it can't really be if you
want to do cash. It can, however, be layered on top, according
to the desires of the Issuer.
As an account, they are made on demand, simply by registering
the public key. They are "multi-currency" in conventional lingo,
and transfers of new instruments result in dynamic creation of
subaccounts to handle the instrument.
As a coin, they can be created on demand, filled with a value,
and moved around. Their use as a coin is not particularly clean,
as they are traceable, whereas coin systems are conventionally
preferred to be untraceable.
The real modus operandi is that a client will have many accounts,
and create a dozen or so to fill the circumstances of the day.
As the software manages this for the user, it isn't that hard
to handle. It's rather up to the software how these are generated,
the current software assumes that there is only one instrument in
each account, but that's just a limitation for the short term.
iang
The following archive was created by hippie-mail 7.98617-22 on Sat Apr 10 1999 - 01:18:26