What are on-chain transactions? Back to list

Member SinceMar 07, 2022

Posts 263

Agaricy96

Oct 19, 2022 a 16:20
These are transactions that take place on the blockchain. These transactions are recorded on the distributed ledger and are accessible to anyone with a copy of the ledger. As a result, every on-chain transaction causes an update to the overall blockchain network.
These transactions should, in theory, take place in real-time. In practice, however, they can take an eternity. The transaction must first be validated by several network participants. Miners must then solve complex mathematical problems in order to group validated transactions into blocks and add them to the blockchain ledger. This procedure can be very time-consuming.

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