Transactions can be seen as information that is recorded on a blockchain. Through its decentralized ledger system, the blockchain keeps an accord of all transactions by distributing them across the network in question, awaiting consensus before subsequently updating itself.

Although the term ‘transactions’ frequently refers to monetary trades, it is more loosely used when it comes to blockchain. In fact, transactions can be as simple as moving cryptocurrencies from one wallet address to another, and as complex as storing data relating to an entire supply chain.