Ethereum: Why Transaction Activity Appears on the Blockchain for Your Bitcoin Address Hosted E-Wallet Service
When you use your online wallet hosted by localbitcoins.com (address 12pHFR5yv2KGqck5N8teb5MgoRtzAgLRn2), it’s no surprise that transaction activity appears on the blockchain. This is because your Bitcoin address is used to facilitate transactions with other users, just like any other user in a public digital currency.
What Happens When You Make a Transaction
When you make a transfer to another user’s Bitcoin address (like localbitcoins.com), your transaction is sent to the Ethereum network. Nodes on the network then confirm the transaction details and add them to the blockchain, which is essentially a permanent and immutable record of all transactions that have ever occurred.
Blockchain.info: A tool for analyzing blockchain data
To understand where your transaction activity is reflected in the blockchain, you can use tools like [Blockchain.info]( This website provides detailed information about Bitcoin transactions, including:
- Transaction details (e.g. sender and recipient addresses, amount)
- Transaction timestamps
- Block heights (which indicate the position of each block in the blockchain)
By analyzing this information, you can see that your transaction activity is reflected in the blockchain for your localbitcoins.com address.
Why is my Bitcoin address visible on the blockchain?
Your Bitcoin address is used to facilitate payment transactions because it is a unique identifier for your wallet. When you create an account on localbitcoins.com or any other E-wallet service, your Bitcoin address is linked to your wallet and is available for transaction purposes.
In this case, when you make a transfer to localbitcoins.com, your address is included in the transaction process, meaning that the transaction details are added to the blockchain. This allows users like localbitcoins.com to check and update their own blockchain records, providing a transparent and secure way to manage transactions.
Conclusion
In summary, when you make a transfer to another user’s Bitcoin address using your hosted E-wallet service (like localbitcoins.com), your transaction activity is reflected in the Ethereum blockchain. This is because your Bitcoin address is linked to your wallet and participates in the transaction process, allowing users like localbitcoins.com to check and update their own blockchain records.
By understanding how transactions work on the Ethereum network, you can better manage your online wallets and stay up to date on the status of your cryptocurrency assets.
