What is the role of ledger in bitcoin transactions?

1 answers

• Dec 18, 2021 · 3 years ago
  In the world of cryptocurrencies, the ledger is the backbone of the entire system. It acts as a public record of all bitcoin transactions, allowing anyone to verify and audit the movement of funds. The ledger is maintained by a network of computers, known as nodes, that work together to validate and record transactions. Each transaction is grouped into a block, which is then added to the blockchain. This decentralized and transparent ledger ensures the integrity and security of bitcoin transactions, as it is nearly impossible to alter or manipulate the records. The ledger also plays a crucial role in preventing double-spending, as it keeps track of the balance and ownership of each bitcoin address. Overall, the ledger is essential for the trust and reliability of the bitcoin network.
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