Definition ∞ Onchain denotes any data, transaction, or activity that is recorded and verifiable on a blockchain’s distributed ledger. This signifies transparency, immutability, and the direct interaction with the underlying blockchain protocol. Information considered ‘onchain’ is publicly auditable by network participants.
Context ∞ The term ‘onchain’ is central to analyzing blockchain activity, including transaction volumes, smart contract interactions, and wallet balances. Current news often highlights onchain metrics to assess network health, identify user behavior patterns, and detect potential market manipulations or significant asset movements.
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