The Blockchain - Part 2
1. The blockchain is TAMPER/HACKER PROOF and shows the following:
a) TRUE and VERIFIABLE transactions
b) WHICH crypto WALLET holds HOW MUCH of that crypto at any time
c) Which wallet TRANSFERRED how much crypto to which other wallet and WHEN.
2. A crypto wallet functions similarly to bank accounts in traditional banking
– But you don’t have to see anyone, nor provide any ID documents, to get a crypto wallet.
– You don’t have to “qualify” to have a crypto wallet.
– You can be of any age and from anywhere in the world.
3. The OWNERS of crypto wallets are NOT recorded on the blockchain.
– The blockchain does not know nor care who owns which crypto wallet
– So unless you tell everyone your wallet address, NOBODY KNOWS you own it.
– You should NEVER tell anyone what your wallet addresses are except when you want them to send cryptos to it.
4. Every wallet address and every transaction can be seen on a “Blockchain Explorer” which is accessible over the Internet.
– A Blockchain Explorer is a website that searches a blockchain for transactions
– For bitcoin transactions, see them at Blockchain.com, Blockchair.com, and Blockstream.info
– For Ethereum: Etherscan.io and Etherchain.org
– For Binance Smart Chain: Bscscan.com
– For Cardano: Cardanoscan.io