How do blockchain transactions achieve transparency? 🔊
Blockchain transactions achieve transparency through a decentralized and distributed ledger system, where each transaction is recorded in a block and linked to previous blocks. This public ledger is accessible to all participants in the network, allowing anyone to verify transaction details without needing a central authority. The use of cryptographic hashing ensures that once a transaction is added to the blockchain, it cannot be altered or deleted, further enhancing trust. Transparent operations make blockchain suitable for applications like cryptocurrency transactions and supply chain management.
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