Where do wallets such as Exodus store the blockchain? I recently installed Exodus and as soon as I configured my wallet it was ready to go. It did not appear to need to download gigabytes-large blockchain for any of the currencies I transferred into it. Other wallet apps—such as Bitcoin Core and similar—must download the blockchain for hours before presenting me with an accurate balance.

Where or how is the blockchain stored for wallets such as Exodus?
Exodus does not have a copy of the blockchain locally, instead it relies on a central server for fetching blockchain data.