A public ledger in cryptocurrency is a decentralized database that records all transactions across a network of computers, or nodes. This ledger is public, meaning anyone can access and view it.
Each transaction is verified and added to the ledger through a process called mining, where nodes solve complex mathematical problems to confirm the validity of the transaction. Once a transaction is confirmed, it is added to a block of transactions and chained to previous blocks, forming a blockchain.
The public ledger allows for transparency and security within the cryptocurrency network, as all transactions are recorded and cannot be altered or deleted. This helps prevent fraud and double-spending.
Overall, the public ledger serves as a reliable and trustless system for recording and verifying transactions in a peer-to-peer network, without the need for a central authority.
