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Updated key image text.

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* updated key image text.
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Mike Justman 2017-08-28 19:39:10 -04:00 committed by GitHub
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get-started/faq/index.md
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@ -130,7 +130,7 @@ Fungibility is a simple property of money such that there are no differences bet
<label for="tab-eleven" class="accordian">If Monero is so private how do we know they're not being created out of thin air?</label> <label for="tab-eleven" class="accordian">If Monero is so private how do we know they're not being created out of thin air?</label>
<div class="tab-content" markdown="1"> <div class="tab-content" markdown="1">
In Monero, every transaction generates a key image. Key images that are used more than once are rejected by the miners as double-spends and cannot be added to a valid block. When a new transaction is received, miners verify that the key image does not already exist for a previous transaction to ensure it's not a double-spend. In Monero, every transaction output is uniquely associated with a key image that can only be generated by the holder of that output. Key images that are used more than once are rejected by the miners as double-spends and cannot be added to a valid block. When a new transaction is received, miners verify that the key image does not already exist for a previous transaction to ensure it's not a double-spend.
We can also know that transaction amounts are valid even though the value of the inputs that you are spending and the value of the outputs you are sending are encrypted (these are hidden to everyone except the recipient). Because the amounts are encrypted using Pedersen commitments what this means is that no observers can tell the amounts of the inputs and outputs, but they can do math on the Pedersen commitments to determine that no Monero was created out of thin air. We can also know that transaction amounts are valid even though the value of the inputs that you are spending and the value of the outputs you are sending are encrypted (these are hidden to everyone except the recipient). Because the amounts are encrypted using Pedersen commitments what this means is that no observers can tell the amounts of the inputs and outputs, but they can do math on the Pedersen commitments to determine that no Monero was created out of thin air.