What is On-Chain?

On-chain is a term used in the context of blockchain technology that refers to data and transactions recorded directly on the blockchain.

Main characteristics:

🔵All transactions and data recorded on the blockchain are available for verification by any network user. This increases trust and transparency.

🔵Data recorded on the blockchain cannot be changed or deleted. This ensures a high level of security and protection against fraud.

🔵On-chain data is stored on multiple network nodes, making it accessible and resistant to centralized control.

🔵Transactions on the blockchain are confirmed by multiple nodes, guaranteeing their authenticity and preventing double-spending.

Advantages:

🔵High level of data protection due to cryptographic methods and decentralized storage.

🔵All transactions and data are available for verification, reducing the risk of fraud and corruption.

🔵Any user can verify the data recorded on the blockchain, making the system open and accessible.

On-chain technologies provide a high level of security, transparency, and data accessibility. They play a key role in building decentralized systems and applications, such as cryptocurrencies and smart contracts.