Let we know : What is on chain transaction?
An on-chain transaction refers to any transaction that is recorded and verified directly on a blockchain network. These transactions are publicly visible and permanently stored on the blockchain ledger, ensuring transparency and immutability. On-chain transactions involve the transfer of cryptocurrency or digital assets between wallets and require network validation by miners or validators through a consensus mechanism. Once confirmed, the transaction becomes part of a new block added to the blockchain. While on-chain transactions provide security and trust, they may also involve higher fees and slower processing times compared to off-chain alternatives.