Can you explain the role of the resident ledger in maintaining the transparency of blockchain transactions?

1 answers

• Dec 26, 2021 · 3 years ago
  The 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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