Is Blockchain Private ?
Before continuing please read previous articles
Part 1: What Is the Blockchain?
Part 2: How Blockchain Works ?
Anybody can easily look at the details of the blockchain, nevertheless people can also choose to attach their own computer systems to the blockchain network. In doing so, their particular personal computer obtains a clone of the blockchain which is kept up to date immediately every time a fresh block is added in, sort of like a Facebook News Feed that provides a real time update every time a latest status is submitted.
Every single computer system in the blockchain network provides their very own copy of the blockchain, this means there are thousands, or when it comes to Bitcoin, millions of clones of the exact same blockchain. Even though each and every clone of the blockchain is exact same, distributing that data around a network of computer systems can make the data even more challenging to manipulate. Together with blockchain, generally there is not an individual, conclusive accounts of activities that can be altered. Alternatively, a hacker would certainly require to change every single copy of the blockchain on the network.
Reviewing the Bitcoin blockchain, even so, you may observe that you may not have accessibility to discovering information related to the users creating transactions. Even though transactions on the blockchain are certainly not absolutely unknown, private information about users is restricted to their particular electronic signature.
This particular rises an essential concern: in case you are not able to recognize who’s attaching blocks to the blockchain, how could you rely on blockchain or the network of computer systems keeping it?