Public Data Principle

It follows from the risk sharing principle that system security depends upon covert mining and trade. A coin exists as a mutually-beneficial market between miners and merchants for the confirmation of transactions.

The necessarily covert activities are listed by role:

Miner

1. obtain blocks [to build upon]
2. obtain transactions [to earn fees from]
3. create and distribute blocks [to cause others to build upon]
4. receive payment for confirmations [to finance operations]

Merchant

1. obtain blocks [to validate customer payment]
2. obtain transactions (optional) [to anticipate customer payment]
3. create and distribute transactions [to obtain customer payment]
4. make payment for confirmations [to compensate confirmation]