How Bitcoin (BTC) and Ethereum Record Transfers Without a Bank

Bitcoin (BTC) and Ethereum let participants record and verify transfers on public networks without a bank maintaining the ledger, though consensus rules differ and custodial users still depend on their providers. A bank maintains a private account record and updates it when a payment is processed. A public blockchain distributes its transaction history across a network. Full nodes, which independently keep and validate blockchain records, check transactions and blocks against network rules. A consensus process determines which valid records enter the chain and how they are ordered.