{% extends "common/base.j2" %} {% block body_content %}
Taler does not use any Blockchain technology or Bitcoin directly. Taler is not based on proof-of-work or any other distributed consensus mechanism. Instead Taler is based on blind signatures.
{% endtrans %} {% trans %}It would be possible, however, to withdraw coins denominated in Bitcoin into a Taler wallet (with an appropriate exchange), which would give some benefits over plain Bitcoin, such as instant confirmation times.
{% endtrans %}Your wallet stores digital coins and thus ultimately your computer holds your balance. The exchange keeps funds matching all unspent coins in an escrow bank account.
{% endtrans %}Since the digital coins of value in your wallet are anonymized, the exchange can not assist you in recovering a lost or stolen wallet. Just like with a physical wallet for cash, you are responsible for keeping it safe.
{% endtrans %} {% trans %}The risk of losing a wallet can be mitigated by making backups or keeping the balance reasonably low.
{% endtrans %}In case of a compromise of one of your devices, an attacker can spend coins from your wallet. Checking your balance might reveal to you that your device has been compromised.
{% endtrans %}If your friend provides goods or services for you in exchange for a payment, they can easily set up a Taler merchant and receive the payment in their bank account.
{% endtrans %} {% trans %}Future versions of the Taler wallet may allow exchanging coins among friends directly as well.
{% endtrans %}Taler wallets can store digital coins corresponding to multiple different currencies such as the Euro, US Dollars or Bitcoins.
{% endtrans %} {% trans %}Taler currently does not offer conversion between currencies.
{% endtrans %}Your wallet stores digital coins that are blindly signed by an exchange. The use of a blind signature protects your privacy as it prevents the exchange from knowing which coin it signed for which customer.
{% endtrans %}