Privacy & Security

Due to the nature of wallet creation on the Fone Network, no personal details are required or stored, and users are only identified by a random 64-character string (Fone Address).

Wallet balances are always calculated live by analyzing the entire blockchain to verify the current available balance. No “current values” are ever stored as total or balances, ensuring that any balance displayed has resulted from a calculation of the full history (ledger) of that wallet. Any FONE you are staking, along with any pending transactions, are removed from your “Available Balance” to prevent the possibility of double-spending.

Submitting a transaction requires the use of a digital signature generated by the private key of the initiator of the transaction, eliminating any possibility of a third-party to submit a transaction on behalf of another user.

A transaction is only considered completed, or verified, once all five randomly selected Validators confirm the validity of each transaction. This is done by confirming the availability of funds to send from each wallet, along with verifying that each transaction hash matches the hash from its initial submission. This multi-step process ensures the authenticity and validity of all transactions, and therefore all balances to be calculated using this ledger of transactions (the “blockchain”). Each block requires a 100% consensus among the Validators for it to be approved and broadcast to the network.

Each block refers to the last via its hash, meaning that if even a single value is ever changed, that block will fail validation, and the user that broadcasted it will be permanently removed from the Fone Network, ensuring the validity of the network as whole.