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Payments & Banking Technical Explainer

What is a blockchain?

A blockchain is a shared transaction record maintained by a network under its protocol rules. It can establish that the network accepted particular activity without identifying the human controllers.

Networks expose different evidence

Transactions are normally grouped or ordered into linked records and validated according to the system's consensus method. Public networks may expose addresses, hashes, amounts, tokens and ordering; other ledgers restrict access or reveal less.

Exchange transfers between customers can also occur internally without a separate on-chain event. Network formats, confirmations, fees and transaction structures differ, so the correct chain must be identified first.

Preserve reproducible identifiers

Record transaction hash, addresses, asset and contract where relevant, block height, network time and the source used to inspect it. Keep the identifiers rather than only a screenshot so another examiner can reproduce the observation.

A block time may differ from user initiation. Report the network record separately from provider account and user evidence.

The point to remember

Use a blockchain to establish protocol-recorded activity, then rely on provider and contextual evidence to identify the people involved.

Reference: PAY-149Payments & Banking