Why currency cannot be verified (why cannot Apple verify the currency app)

Why currency cannot be verified In the past decade, people have found that currency cannot be verified. However, this trust is driven by a single form (such as a digital wallet) and controlled by a system

Although these encrypted assets can be used as Medium of exchange to support value transfer, payment settlement or exchange means, they still rely on decentralized technologies such as blockchain technology and smart contracts. Due to the use of private key signature algorithms and timestamps on public chain networks, it is difficult for them to connect their data with other information sharing databases. Why is currency not trustworthy? Because there is no central authority that owns or manages it, it means that there can be no guarantee that the agreement has full auditability. If this is not done, it is impossible to establish a secure network. To solve this problem, a series of steps are needed to ensure the security and efficiency of the entire network. For example, the verification node sets a “password gate” to enable verifiers to determine whether their account has been authenticated before receiving funds from the exchange; Verify which blocks the node chooses to store to confirm each transaction and who is processing them. Without the need for third-party participation; Everyone has a unique wallet address and can only view each message. How to prove that your wallet was not stolen? According to researchers, the simplest method is to check if the user account has been attacked, in order to avoid losing Bitcoin. But for some people, in order for the wallet holder to know who you are, they must first figure out how to create a new wallet in order to complete all the operations. Although most people currently believe that this is a very powerful tool, in some cases they may not even believe it, which is why people often say that we have seen many financial applications based on distributed ledger technology exist for a long time. (AMBCrypto)

Why can’t Apple verify the currency app?

According to Coindesk, Apple has added a new feature called “verification” to its blockchain application. But according to official announcements, it will not be able to use third-party services such as Google Pay or PayPal for verification transactions through the authentication process. The developers of this feature hope to run on iOS, so they believe that it has no impact on the entire ecosystem. In addition, it is reported that Apple has also banned the use of Cryptocurrency exchange and payment applications as wallets, and this ban was issued before February 1, 2019.