Public Ledgers

Definition ∞ Public ledgers are decentralized, distributed databases that record transactions in a transparent and immutable manner. These digital records, commonly known as blockchains, are accessible and verifiable by anyone with an internet connection, without requiring permission from a central authority. Each transaction block is cryptographically linked to the previous one, creating an unbroken chain that ensures data integrity and prevents tampering. The open nature of public ledgers allows for auditing and verification by all network participants, enhancing trust and security in digital asset transfers.
Context ∞ Public ledgers, such as those supporting Bitcoin and Ethereum, are foundational to the operation of most cryptocurrencies and decentralized finance applications. News frequently highlights their role in promoting transparency, facilitating peer-to-peer transactions, and enabling new forms of digital ownership. Debates often address scalability solutions, privacy enhancements, and the regulatory implications of their global, permissionless structure.