Definition ∞ Transaction management in blockchain and cryptocurrencies refers to the processes involved in creating, validating, recording, and overseeing the exchange of assets or data on a decentralized network. This includes ensuring the integrity, security, and chronological order of each transaction as it is added to the distributed ledger. It is fundamental to the operation of any blockchain system.
Context ∞ Unlike traditional financial systems that rely on central authorities, blockchain transaction management operates on a peer-to-peer network where participants collectively verify and confirm exchanges. This decentralized approach enhances transparency and security, but can also involve varying processing times and fees depending on network congestion. Effective transaction management is crucial for the reliability and efficiency of digital asset transfers.
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