return to Immutable Data Objects

Transactions contain cryptographically signed data required to describe the creation, transfer, or destruction of fungible data representing an asset stored within the ledger. The transaction captures the change in state of the contents of the ledger. Currently, each implementation of Blockchain defines its own unique concept of a transaction which depends on the kind of fungible data stored in the ledger.

Transactions represent operations that can be performed on fungible data represented in the ledger. In a financial ledger, the money associated with an account is the fungible data and it is represented by the balance associated with an account associated with an entry in the ledger. Money can only be added to or deducted from an account. Note: The actual money is not stored in the ledger, only a balance representing money is stored in the ledger. A slightly higher level concept would be the transfer money from one account to another (i.e., deduct from account nnn1 and add to account nnn2).