No Dumb Questions: Episode 8 Is this even safe
Can an outsider see how much ada you have in your wallet, or is it private like banks?
Blockchain ledgers are publicly viewable. On the one hand, this is a design feature that provides safety and security: shady activities can’t really be hidden. On the other hand, the idea that anyone can peek in your wallet and see what’s in there can be pretty unnerving, or might feel unsafe in other ways.
So is this even safe? It certainly is a new and different way to think about your money. As you wrap your mind around using a publicly viewable blockchain wallet, consider these ideas:
- Unlike your bank, there is no KYC attached to a self-custody wallet. When…