A verification function is a crucial component that ensures transactions within a blockchain are valid and secure. It serves to confirm the authenticity of transactions before they are added to the blockchain. When a transaction is initiated, the verification function checks various factors, such as whether the sender has enough digital currency to complete the transaction and if the sender’s identity is valid. This process helps prevent fraud, double-spending, and unauthorized access. In many systems, this verification is carried out through consensus mechanisms like proof-of-work or proof-of-stake, where multiple nodes (computers) participate in validating transactions. Once a transaction passes the verification function, it gets recorded in a block, contributing to the overall transparency and integrity of the blockchain. Overall, the verification function plays a vital role in maintaining trust in the system by ensuring that only legitimate transactions are processed and recorded.

UK’s FCA to Allow Retail Investors Limited Access to Crypto ETNs
The UK’s Financial Conduct Authority (FCA) will permit retail investors to access certain crypto asset-backed exchange-traded notes (cETNs) for the