Every transaction is public, yet masked by wallet addresses that look like alien codes. Unless you’re a blockchain detective with a chain explorer and hours of patience, it’s like staring at a city’s electrical grid and trying to find out who turned on the light. Transparency in crypto is a double-edged sword — the information is there, but interpretation requires skill.

For regulators and developers, this pseudo-transparency is both a blessing and a headache. It promotes accountability, but privacy remains thin. This is why privacy-focused chains and mixers keep surfacing — a response to users who want visibility with discretion.

In truth, blockchain transparency is more about traceability than readability. So next time someone says, “It’s all visible on the blockchain,” remember: it’s visible, yes — just not always understandable.