Transaction

In bitcoin, any node on the network can see all transactions that have already taken place. This feature is auditable, allowing anyone to validate the entire transaction history of the network. As a result security is increased but all user privacy is lost. If you link a wallet to a real identity, such as an institution or person, your balance and transactions will no longer be private.

Other cryptocurrencies allow for total anonymity, but without auditing permission, creating a scenario where network fraud cannot be detected. Legal problems can also arise because an unaudited monetary system is not tangible by law, being ideal for corruption schemes, trafficking, money laundering, among other illicit activities.

Trying to reconcile auditing and privacy, Bywise uses each wallet only once by default, its balance being the sum of the balances of the wallets being used.

With this measure the network grows chaotically, even if you link an identity to a wallet it is unlikely to track the identity through the network in the long term, however the system is still auditable and any fraud on the network can be detected.

In addition there are also contracts and encrypted processing allowing wallet and transaction information to remain private.