What does public mean in the context of cryptocurrency?

3 answers

• Dec 17, 2021 · 3 years ago
  In the context of cryptocurrency, the term 'public' refers to the transparency and openness of the blockchain network. It means that all transactions and information on the blockchain are visible to anyone who has access to the network. This transparency ensures trust and accountability in the cryptocurrency ecosystem.
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• Dec 17, 2021 · 3 years ago
  When we talk about 'public' in the context of cryptocurrency, we are referring to the fact that the blockchain, which is the underlying technology of cryptocurrencies, is a public ledger. This means that anyone can view and verify transactions on the blockchain. It is this public nature of the blockchain that makes cryptocurrencies decentralized and secure.
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• Dec 17, 2021 · 3 years ago
  In the context of cryptocurrency, 'public' means that the blockchain is accessible to anyone who wants to participate in the network. This accessibility allows anyone to become a part of the cryptocurrency ecosystem by running a node or participating in the consensus mechanism. This openness and inclusivity are what make cryptocurrencies truly decentralized and democratized.
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