What is the blockchain?

Blockchain is a decentralized database where each transaction is recorded in a block, and blocks form a chain. Unlike traditional banking systems like SEPA and SWIFT, blockchain operates without intermediaries, relying on mathematical algorithms for security and validation. Key characteristics of blockchain technology include:

• Decentralization: No single entity controls the network

• Transparency: All transactions are publicly visible

• Immutability: Once recorded, transactions cannot be altered

• Security: Protected by advanced cryptographic methods

• Consensus: Network participants validate transactions

Thanks to blockchain technology, transaction data remains unchangeable and always available for verification. This makes blockchain particularly suitable for:

• Financial transactions

• Digital asset management

• Smart contracts

• Supply chain tracking

• Identity verification

The TON blockchain, which MyTonWallet uses, is designed for high performance and scalability while maintaining security and decentralization.