How do I restrict other users of my blockchain from viewing my transactions?

Question

I have a specific requirement where only the parties involved in a transaction can view the transaction details. Is there any existing functionality of Multichain that we can utilize to implement this use case?

Answer 1

Every node sees every transaction, and this is a property of blockchains. If you want to hide transaction details, you can encrypt them and store them in the metadata of null-transactions (like a data stream) but then the blockchain will not be verifying and settling anything for you - it will just be stored that encrypted data in an immutable way. For more on this you might find these blog posts helpful:

http://www.multichain.com/blog/2016/01/moving-on-from-big-blockchains/

http://www.multichain.com/blog/2016/03/blockchains-vs-centralized-databases/

http://www.multichain.com/blog/2016/05/four-genuine-blockchain-use-cases/