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Verifiability

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As you see in Chapter 2, your ownership of Bitcoin is most definitely verifiable. Because an entire copy of the Bitcoin blockchain transaction history lives on each computer running the Bitcoin software, the thousands of nodes on the network must verify each and every transaction and block based on the rules of Bitcoin. These are rules that everybody has to follow or they can’t function within the network. The structure of the Bitcoin blockchain ensures that you can, and in fact must, prove you own your Bitcoin, and have total control over it before you can transfer it (assuming you don’t lose your private keys; see Chapter 2).

Bitcoin For Dummies

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