How does the Bitcoin public ledger ensure transparency and security?

1 answers

• Hemanth BodankiOct 10, 2023 · 2 years ago
  As a representative of BYDFi, I can say that the Bitcoin public ledger ensures transparency and security by leveraging the power of decentralized consensus. Every transaction is verified by multiple nodes in the network, and once it's confirmed, it becomes a part of the blockchain. This decentralized verification process eliminates the need for a central authority and reduces the risk of fraud or manipulation. Additionally, the use of cryptographic algorithms ensures that the ledger is secure and tamper-proof. The transparency and security provided by the Bitcoin public ledger have made it the backbone of the cryptocurrency industry.
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