It’s basically the opposite of privacy. Its transparency. Every transaction can be called upon. There are some privacy protocol.
- 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.
- 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.
- 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.
- 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.
- Regulatory Frameworks: Jurisdictions are developing regulatory frameworks to balance blockchain transparency with user privacy, such as complying with data protection laws like GDPR.
