“A blockchain is a distributed database or ledger that is shared among the nodes of a computer network. As a database, a blockchain stores information electronically in digital format. Blockchains are best known for their crucial role in cryptocurrency systems, such as Bitcoin, for maintaining a secure and decentralized record of transactions. The innovation with a blockchain is that it guarantees the fidelity and security of a record of data and generates trust without the need for a trusted third party.” (Investopedia, 2022)

In simplified terms, the blockchain is a public ledger that anyone in the world can view by searching a cryptocurrency wallet address on a blockchain viewer website such as www.coin.cz

When you purchase cryptocurrency, such as Bitcoin, from a Localcoin Bitcoin ATM the cryptocurrency is instantly sent on the blockchain to the wallet address you scan at the time of the purchase. Once the transaction is completed you can verify that the funds have been received by matching the cryptocurrency amount on your receipt to the amount posted on the blockchain for your wallet address that you scanned at the machine.