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Bitcoin is a form of distributed ledger technology that works by recording every transaction that takes place within its network. Every transaction involving cryptocurrency is recorded and maintained in chronological order. Transactions are visible for anyone to see on the public ledger. However, a user's identity can be found out by savvy third parties if they are not careful. This can pose a problem for the wide-scale adoption of blockchain technology, especially when it comes to corporate entities who may wish to keep their user’s data private.