How can you sure that blockchain system is privacy safe? What makes Blockchain as most safe system than others?

in #blockchain6 years ago (edited)

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I can't speak about how safe blockchain is in terms of privacy. I can't guarantee anyone that, as all transactions are naked (open) on the blockchain, you can view a record history of another person's transactions.

But one thing I'm certain of is the safety of the system. Blockchain is more than moderately safe, and although not 100% safe but we can place a certain level of trust on it.

Blockchain is a conglomerate of blocks, a distributed ledger network that is made up of continuous blocks (records) and for you to compromise, manipulate or tamper with a single block, you'll have to compromise the entire network first which is difficult and almost impossible.

But as to whether blockchain protects one's privacy? No, I don't think so. The level of confidentiality on the blockchain is extremely low and we understand why. That's one of the major unique features of its existence. Transparency!

And somehow here, transparency denies you confidentiality on the blockchain.

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