Why are wallet sanctions a problem for blockchains? - Crypto in Plain English - Episode 238 - by cryptohunt.it
Crypto in Plain English - by cryptohunt.it26 Elo 2022

Why are wallet sanctions a problem for blockchains? - Crypto in Plain English - Episode 238 - by cryptohunt.it

CLICK HERE to level up your knowledge on Web3 through our FREE course!

Why are wallet sanction a problem for blockchains?

Welcome to the Cryptohunt Jam, where we spend one minute a day to explain crypto. In plain English.

Yesterday, we talked about Tornado Cash, a service that was sanctioned by the US government because it allowed money laundering on the Ethereum blockchain. With that also came sanctions of 45 specific wallets.

What that means is: No US company or individual can do business with, or interact with those wallets.

Sounds easy enough? Actually, this makes things pretty complicated.

You see - these wallets are still recorded on the Ethereum blockchain. By design, a blockchain’s history can’t be altered. And they will likely move money again, and there is nothing the US government can do about that.

When transactions happen, a blockchain validates those. That means it has to interact with the wallets by checking and updating their balance. And this could potentially violate sanctions, putting Ethereum miners at risk whether they want it or not if they operate out of the United States - which the majority do.

It also creates issues for anyone operating any software connected to Ethereum: They will have to make sure to ban wallets associated with Tornado Cash, but due to the nature of the service, it will be impossible to know which ones are.

There you have it - this is the first time sanctions like this have been put in place. Keep an eye on the news, because this might get interesting.

Disclaimer: This podcast references our opinion and is for information purposes only. It is not intended to be investment advice. Do your own research and seek a duly licensed professional for investment advice.

Jaksot(373)

Ethereum Merge Deep Dive: What happens after the Merge? - Crypto in Plain English - Episode 253 - by cryptohunt.it

Ethereum Merge Deep Dive: What happens after the Merge? - Crypto in Plain English - Episode 253 - by cryptohunt.it

Are YOU a crypto normie? If so, welcome! CLICK HERE to start (or continue) learning about everything crypto! Ethereum Merge Deep Dive: What happens after the Merge? Welcome to the final episode of thi...

16 Syys 20222min

Ethereum Merge Deep Dive: Why is Ethereum suddenly more efficient? - Crypto in Plain English - Episode 252 - by cryptohunt.it

Ethereum Merge Deep Dive: Why is Ethereum suddenly more efficient? - Crypto in Plain English - Episode 252 - by cryptohunt.it

Ethereum Merge Deep Dive: Why is Ethereum suddenly more efficient? Are YOU a crypto normie? If so, welcome! CLICK HERE to start (or continue) learning about everything crypto! Welcome to another Crypt...

15 Syys 20223min

Ethereum Merge Deep Dive: Will my money be safe? - Crypto in Plain English - Episode 251 - by cryptohunt.it

Ethereum Merge Deep Dive: Will my money be safe? - Crypto in Plain English - Episode 251 - by cryptohunt.it

Are YOU a crypto normie? If so, welcome! CLICK HERE to start (or continue) learning about everything crypto! Ethereum Merge Deep Dive: Will my money be safe? By the time you listen to this, the Merge ...

14 Syys 20222min

Ethereum Merge Week: What exactly is a Merge? - Crypto in Plain English - Episode 250 - by cryptohunt.it

Ethereum Merge Week: What exactly is a Merge? - Crypto in Plain English - Episode 250 - by cryptohunt.it

Are YOU a crypto normie? If so, welcome! CLICK HERE to start (or continue) learning about everything crypto! Ethereum Merge Week: What exactly is a Merge? Welcome to the Cryptohunt Jam, where we spend...

13 Syys 20222min

The Ethereum Merge is coming: Why it's such a big deal - Crypto in Plain English - Episode 249 - by cryptohunt.it

The Ethereum Merge is coming: Why it's such a big deal - Crypto in Plain English - Episode 249 - by cryptohunt.it

The Ethereum Merge is coming: Why it's such a big deal The so-called Ethereum Merge is coming this week! And because that's a huge deal, we'll cover the topic this entire week. We promise: You'll lea...

12 Syys 20222min

What is a Crypto Normie? - Crypto in Plain English - Episode 248 - by cryptohunt.it

What is a Crypto Normie? - Crypto in Plain English - Episode 248 - by cryptohunt.it

Are YOU a crypto normie? If so, welcome! CLICK HERE to start (or continue) learning about everything crypto! What is a Crypto Normie? Welcome to the Cryptohunt Jam, where we spend one minute a day to ...

9 Syys 20221min

What is a Crypto Szn? - Crypto in Plain English - Episode 247 - by cryptohunt.it

What is a Crypto Szn? - Crypto in Plain English - Episode 247 - by cryptohunt.it

What is a Crypto Szn? Welcome to the Cryptohunt Jam, where we spend one minute a day to explain crypto. In plain English. My name is Christian Byza, Co-Founder of Cryptohunt.it and I am your host of t...

8 Syys 20221min

What is "Crypto IRL" and Bright Moments? - Crypto in Plain English - Episode 246 - by cryptohunt.it

What is "Crypto IRL" and Bright Moments? - Crypto in Plain English - Episode 246 - by cryptohunt.it

What is "Crypto IRL" and Bright Moments? Welcome to the Cryptohunt Jam, where we spend one minute a day to explain crypto. In plain English. My name is Christian Byza, Co-Founder of Cryptohunt.it and ...

7 Syys 20222min

Suosittua kategoriassa Liike-elämä ja talous

sijotuskasti
mimmit-sijoittaa
rss-rahapodi
psykopodiaa-podcast
rss-rahamania
rss-lahtijat
ostan-asuntoja-podcast
hyva-paha-johtaminen
rss-seuraava-potilas
rss-sami-miettinen-neuvottelija
rss-startup-ministerio
rahapuhetta
lakicast
rss-porssipuhetta
rss-bisnesta-bebeja
rss-sisalto-kuntoon
rss-set-for-life-sijoita-ja-vaurastu
rss-rahataito-podcast
rss-paasipodi
rss-viisas-raha-podi