Many blockchain networks operate in the form of public databases, meaning anyone with an internet connection can view a list of the network's transaction history. Although users can access details about the transactions, they cannot access the credentials of the users who make these transactions. It is a common misperception that blockchain networks like Bitcoin are in fact anonymous, although they are only private and reliable.
That is, when a user makes public transactions, a unique code called a public key is stored on the blockchain (instead of the person's credentials). If a person has purchased Bitcoin on an exchange that requires an identity, that person's identity is still linked to the blockchain address, however, a transaction does not reveal any personal information, even if it is linked to a person's name.
CandleFocus Editor
Advantages: Private Transactions
Learn the difference between private, reliable, and anonymous blockchain networks and how these networks keep your privacy intact.
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