Description: E-Transaction refers to a transaction that occurs on a blockchain, typically involving the transfer of assets or data. This process is characterized by its decentralized nature, meaning it does not rely on a central authority for validation. E-transactions are recorded in a digital ledger known as a blockchain, which ensures the immutability and transparency of operations. Each transaction is verified by nodes in the network, ensuring that only legitimate transactions are executed. Additionally, e-transactions can include smart contracts, which are self-executing programs that facilitate, verify, or enforce the negotiation or execution of a contract. Security is another crucial aspect, as transactions are protected through cryptography, making fraud and unauthorized access difficult. In an increasingly digital world, e-transactions are gaining relevance across various industries, enabling greater efficiency and cost reduction in value exchange processes.
