How is the privacy of our transaction history on blockchain maintained?

It’s basically the opposite of privacy. Its transparency. Every transaction can be called upon. There are some privacy protocol.

  1. Pseudonymity: Blockchain addresses are pseudonymous, meaning they do not directly reveal the identity of the account holder. Transactions are tied to addresses rather than real-world identities.

  2. Encryption: Blockchain transactions and data are cryptographically encrypted, making it difficult for anyone other than the parties involved to access the details of a transaction.

  3. Distributed Ledger: The blockchain is a distributed ledger, meaning the transaction data is spread across many nodes in the network rather than stored in a centralized location. This makes it harder for any single entity to access or tamper with the full transaction history.

  4. Transparency vs Privacy: Blockchains provide transparency of transaction data to the network, but privacy can be maintained through techniques like mixing services, stealth addresses, and zero-knowledge proofs, which obscure the details of specific transactions.

  5. Regulatory Frameworks: Jurisdictions are developing regulatory frameworks to balance blockchain transparency with user privacy, such as complying with data protection laws like GDPR.

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