menu search
brightness_auto
more_vert

1 Answer

more_vert
The technology behind Bitcoin is called blockchain ("blockchain") and is often referred to as a digital account statement. In the linked blocks, all transactions that have ever been made are stored in encrypted form and can be viewed by the public. Even if a bitcoin address does not say anything about the respective user, paying with bitcoin is not completely anonymous. Transactions can be traced back, which is why there are now various services for better anonymization.

Since the database is managed by several computers, it is considered transparent and cannot be manipulated. The network does not need a central intermediary who confirms the authenticity of the information - this is where the disruptive potential of blockchain lies, since the technology could take over this function from today's "gatekeepers" in the financial sector. Bitcoin is also independent of governments.
Welcome to InvestmentKit Q&A, where you can ask questions and receive answers from other expert members of the community.
...