What does transparency mean in crypto?
๐น It means that all transactions on the blockchain can be tracked publicly and openly.
๐น Anyone can verify transactions without the need for a third party.
๐ Why is transparency important?
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Boost trust โ Reduce fraud and manipulation.
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Verifiability โ Enables users to track assets and transactions.
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Decentralized โ No middleman needed to monitor data.
๐ How is transparency achieved?
๐ Public blockchain โ like Bitcoin and Ethereum, where transactions are visible to everyone.
๐ Open Audit โ Independent parties can review and analyze the data.
๐ Proof of Reserves โ Some platforms resort to publishing proof of the assets they hold.
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