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Can Anyone View My Transactions on Ethereum?

 

Ethereum is not an open blockchain that just anyone can view. Additionally, the code of your wallet application will automatically encrypt data to keep it secure. The blockchain network provides security for its users through decentralization and cryptography. 

 

The decentralized node network makes it so transactions are recorded on many computers instead of one central computer or server, which could be hacked easily if anyone place was compromised. Every user has their private key stored in a software program called a “wallet” (which could be stored on your phone, on your desktop, etc.), which you use to access the Ethereum blockchain and make transactions. 

 

Your private key gives you unique ownership over your wallet; no other person can spend Ethereum that belongs to someone else. Private keys not only secure your wallet and give you ownership, but they also allow you to make transactions on the blockchain.

 

As long as you protect your private key and password, it is nearly impossible for someone else to access your wallet information. If someone does find out these details, they can never spend your money because those keys are part of cryptographic functions that will always be functional. 

 

Your private key allows the cryptography function to verify that you own the cryptocurrency in that specific wallet address. Security, therefore, is based on one's computer security measures, including viruses, physical device theft or loss, hackers, malware/spyware, poor password protection etc.