Public Data Principle

It follows from the risk sharing principle that system security depends upon covert mining and trade. As detailed in Balance of Power Fallacy a coin exists as a market between miners and merchants for confirmation of transactions.

The necessary convert activities are listed by role:

Miner

• obtain blocks
• obtain transactions
• create and distribute blocks
• receive payment for confirmations

Merchant

• obtain blocks
• obtain transactions (optional)
• create and distribute transactions
• make payment for confirmations