What Is a Transaction (TX)?
A transaction (TX) is a digital record of an exchange between two or more parties. It can be used to transfer money, goods, services, and other forms of value from one person to another. Transactions are recorded on the blockchain network and stored in blocks that form part of the public ledger. Each block contains a unique cryptographic signature which verifies its authenticity and prevents it from being altered or tampered with.
Transactions are typically initiated by users who send funds using their wallet address. The transaction is then broadcasted across the network where miners verify it before adding it to the next block in the chain. Once added, transactions become immutable and cannot be reversed without consensus among all participants in the network. This ensures that all transactions remain secure and transparent while providing users with peace of mind when making payments online or transferring assets digitally.