Blockchain records are kept on computers around the world. Think of them as little notaries who verify and record the each chain transaction. Stored on multiple computers around the world. If one, ten or one hundred computers gets destroyed/hacked etc the Leger still exists on the remaining.
blockchains were extremely private and impossible to track.
It's literally, and I hate overusing that term, the opposite. The entire purpose of blockchain technology is to bring transparency to finance. The system we have in place now with slush funds and money laundering is what's hard to track.
Ohhh
I was under the impression blockchains were extremely private and impossible to track. This makes more sense.
Its not encrypted data to the point its unreadable. Its encrypted to the point that its difficult to alter or spoof, and its all publicly accessible.
Oh. Thanks.
Blockchain records are kept on computers around the world. Think of them as little notaries who verify and record the each chain transaction. Stored on multiple computers around the world. If one, ten or one hundred computers gets destroyed/hacked etc the Leger still exists on the remaining.
It's literally, and I hate overusing that term, the opposite. The entire purpose of blockchain technology is to bring transparency to finance. The system we have in place now with slush funds and money laundering is what's hard to track.