OneArt

<p>As we mentioned earlier, a wallet doesn’t store crypto, as it’s just an interface to record transactions. Moreover, it stays on the blockchain even when you burn it. (For more crazy things about crypto wallets, check out <a href="https://oneart.digital/en/blog/8-crazy-things-you-should-know-about-crypto-wallets" rel="noopener noreferrer nofollow">the OneArt article</a>).</p><p>How is your crypto stored, and how secure is blockchain?</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/99b8968e07e749d0a5a91f7c5c2998ae.png" /></p><h2 id="header-0">In fact, crypto is data</h2><p>It doesn’t exist in any physical form like banknotes or coins. It’s a virtual currency living on blockchain — a technology used to record and store information. It doesn’t leave the blockchain. When you send or receive crypto, it just changes address but keeps staying on the network.</p><p>The code stores all the necessary info: how the coins are issued, how many can be issued, and how transactions are validated. It’s open-source.</p><h2 id="header-1">Where is blockchain data stored?</h2><p>Unlike centralized organizations, blockchain uses multiple nodes to store data. A node is a computer that validates and records transactions. Each one keeps the same version, and they check each other. When a new block of information is created and validated, all nodes update their database. So, the information about transactions is distributed among multiple nodes. That’s why it is immutable.</p><h3 id="different-types-of-blockchains-have-different-approaches">Different types of blockchains have different approaches</h3><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/cf5a10c3c343466195fa4631c0d3bd90.png" /></p><h2 id="header-2">Why is it secure?</h2><p>Because it’s decentralized and immutable.</p><ul><li>Information is stored across multiple nodes, and they verify if the info in blocks is valid</li><li>Each new block contains data about the previous one.</li></ul><p>It means it’s impossible to change transactions history. To do so, you’d have to change it across all the nodes and make nodes agree with that. There’s no central authority that can change or cancel a transaction. All the information about transactions is transparent, and you can check it on platforms like <a href="https://etherscan.io/" rel="noopener noreferrer nofollow">Etherscan</a> or<a href="https://bscscan.com/" rel="noopener noreferrer nofollow"> BscScan</a>.<br /><br /><img src="https://academy-public.coinmarketcap.com/optimized-uploads/06f2b9e60da544cab8dc4e707e5b7725.png" /><br /><em>Source: <a href="https://www.researchgate.net/figure/A-blockchain-scheme_fig2_356755571" rel="noopener noreferrer nofollow">ResearchGate</a></em><br /><br />Follow official OneArt channels to find the latest info and updates:</p><ul><li><a href="https://twitter.com/art_wallet" rel="noopener noreferrer nofollow">Twitter</a></li><li><a href="https://t.me/art_wallet" rel="noopener noreferrer nofollow">Telegram Group</a></li><li><a href="https://t.me/artwallet_official" rel="noopener noreferrer nofollow">Telegram Announcements</a></li><li><a href="https://coinmarketcap.com/community/profile/OneArt" rel="noopener noreferrer nofollow">CoinMarketCap Community</a></li><li><a href="https://www.linkedin.com/company/oneart/" rel="noopener noreferrer nofollow">LinkedIn</a></li></ul>

How Is Crypto Stored in Blockchain?

Table of Contents

OneArt

Other articles published on Oct 24, 2022

♠️ Golden Ball GLB - Betting and eSports Payment Gateway Provider ♠️

Market Cap of Axie Infinity Declines Below $1B; What Are the Possible Reasons

Kryptview Beta Testing Season 1 – Try our crypto-scoring app & earn amazing rewards!

Whole Earth Foundation Announces Beta Launch of TEKKON and Changes to Whole Earth Coins

OSIS by Apotheosis partnering with leading crypto consultancy providing company The Crypto Launch...

ShopNEXT partners with Visa to launch the first-ever Web3 Loyalty Platform

Join our free newsletter for daily crypto updates!