Quote from: $dakini on May 10, 2014, 06:34:29 PM

Quote from: Transparent on May 10, 2014, 06:17:04 PM

Quote from: NFDcoin on May 10, 2014, 05:59:39 PM

Quote from: Transparent on May 10, 2014, 05:56:56 PM

if our password is encrypted how will you know what account to send it to?

Simple put:

When I create the genesisblock, then I will include your hash into that block. Then you can download the software and enter your passphrase, you will find your coins there. It is called brainwallet and is exactely like NXT!

so this software has the ability to read sha-256 encryption? if that were so, why dont people use it to figure out the password anyways?

software is not decoding your password.
When you enter your passphrase, it calculates the sha-256 encrypted value and is checked against the hardcoded list set during the genesis block creation.

this was a great way to explain it. thanks a lot!

Transparent

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