Blockchain Data Analytics: (In)visibility in Distributed Networks

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Blockchain Data Analytics: (In)visibility in Distributed Networks

Article
Posted December 16, 2019 in Business Technology & Digital Transformation Strategies, Data Analytics & Digital Technologies Cutter Business Technology Journal


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Iweta Laskowska explains some of the myths around blockchain, such as anonymity, transparency, and privacy. She guides the reader to an understanding of what anonymity in peer-to-peer networks means and introduces the concept of “de-anonymization of transaction history,” which involves the identification of the real-world identities of contractors (senders and recipients), as well as the value that is sent. As Laskowska suggests, “The involvement of third parties in the management and authentication of transactions is expensive and time-consuming. Distributed public networks reduce the need for central authorities and eliminate the ‘single point of failure.’” This ultimately allows for greater participation in decision making.