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Este registro público de transacciones está distribuido entre todos los ordenadores conectados a la red Bitcoin, es decir cada uno de ellos contiene una copia de este registro. En Bitcoin, este registro de transacciones se llama blockchain (cadena de bloques). Es un equivalente a un libro de cuenta pero con un matiz importante es totalmente público. Cada página de este libro de cuentas corresponde a un bloque de transacciones dentro de la blockchain. El hecho que este registro de transacciones sea público y compartido entre todos implica que cualquiera puede consultar en cualquier momento una transacción Bitcoin, su importe y las direcciones usadas en esta transacción. Nada impide que cualquiera de nosotros sepa que la dirección Bitcoin A ha enviado X bitcoins a la dirección B. 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Pero las características tecnológicas muy innovadoras que Bitcoin trae plantean hasta un cambio de paradigma: la confianza que antes depositabamos en un banco o en un emisor de tarjeta de crédito para garantizar la buena ejecución de una transacción, ahora con Bitcoin esta confianza la podemos depositar en un algoritmo matemático distribuido entre todos los ordenadores conectados a su red. Bitcoin es un sistema que no requiere ninguna entidad tercera de confianza para su funcionamiento. Se elimina por completo el problema del single point of failure (o punto único de fallo), el talón de Aquiles de gran parte de los sistemas informáticos actuales. Bitcoin se basa en un principio de consenso entre los diferentes ordenadores para garantizar el buen funcionamiento de la red. Así pues en términos de seguridad informática, Bitcoin es un sistema de confianza y consenso decentralizado. 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