Timeline for Why does the blockchain keep transaction history rather than balance?
Current License: CC BY-SA 4.0
3 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Jun 1, 2018 at 6:02 | comment | added | iamrajshah | Because in bitcoin the chain start from Coinbase transaction i.e, the first transaction of chain and it gives us BTC which can be spent by us. If we maintain balance then there might chance of spending that money twice or more than once (double spent attack) as we have not maintain anywhere as user and balance records. While tracking transaction it gives us freedom to backtrack to first transaction so there will not be theft or we can say very few chance of losing money as compare to maintaining the balance. | |
| Jun 1, 2018 at 5:45 | comment | added | Erel Segal-Halevi | This is what I do not understand... why do you need the entire history and not only the balance? | |
| Jun 1, 2018 at 5:36 | history | answered | iamrajshah | CC BY-SA 4.0 |