Can you explain the role of the resident ledger in maintaining the transparency of blockchain transactions?
opeyemiOct 11, 2023 · 2 years ago1 answers
Can you please provide a detailed explanation of the role of the resident ledger in ensuring transparency in blockchain transactions? How does it contribute to maintaining the integrity and security of the blockchain network?
1 answers
- Hedaitul-SaniJan 25, 2023 · 2 years agoThe resident ledger is a fundamental component of the blockchain technology that ensures transparency in transactions. It serves as a public record of all transactions, accessible to anyone in the network. This transparency allows for the verification and validation of transactions by all participants, ensuring the integrity and security of the blockchain network. The resident ledger also enables the auditing of transactions, providing a transparent and accountable system for digital currency transactions. By maintaining a transparent ledger, the blockchain network promotes trust and confidence in the digital currency ecosystem.
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