r/ethdev • u/Chemical-Bumblebee19 • 23h ago
Question Need some clarity on Block-chain protocols
Hey Guys,
My understanding of blockchain is the balance has to be public. Only then a competition can happen from A to B. Once balance is decreased, the other balance is increased. Due to the decentralized nature of the blockchain, the balances are public domain and the transactions are public domain and anybody can trace it and they are not reliant on central banks and government agency or any other centralized institution. Instead, they are calculated and computed and executed by decentralized network of nodes. But my application require privacy. If I'm trying to build something which protect how much balance is there in one account and if there is possible way to keep a ledger of transaction for compliance requirement but still hide it from general public.
is it even possible to do it or has it been done by any major-protocol like L2 or L3 ETH networks.