Public Transaction

Understand the key crypto terminology related to public transactions, including concepts like ledger, transparency, and decentralization, for better insight.

Public transactions refer to transactions on a blockchain that are visible to anyone. These transactions are recorded on a public ledger, which is accessible to all users of the network. Anyone can view transaction details, such as the sender, receiver, and amount transferred.Because public transactions are transparent, they enhance trust among users. While identifying parties is possible through wallet addresses, the actual identities behind those addresses remain anonymous unless disclosed by the users themselves.Public transactions play a critical role in the security of the blockchain. They help ensure that all participants in the network can verify and validate each transaction, reducing the risk of fraud and double-spending. However, this transparency also poses privacy concerns, as anyone can track transaction histories. To address these issues, some projects explore privacy features or use alternative technologies to obscure transaction details, offering users more control over their financial privacy.

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