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:
đ”All transactions and data recorded on the blockchain are available for verification by any network user. This increases trust and transparency.
đ”Data recorded on the blockchain cannot be changed or deleted. This ensures a high level of security and protection against fraud.
đ”On-chain data is stored on multiple network nodes, making it accessible and resistant to centralized control.
đ”Transactions on the blockchain are confirmed by multiple nodes, guaranteeing their authenticity and preventing double-spending.
Advantages:
đ”High level of data protection due to cryptographic methods and decentralized storage.
đ”All transactions and data are available for verification, reducing the risk of fraud and corruption.
đ”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.
