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In the world of cryptocurrencies, a transaction is a record of a transfer of value between two or more parties. Transactions are typically recorded on a blockchain, and are verified and processed by network participants using cryptographic algorithms.
Transactions are an essential part of the functioning of cryptocurrencies, as they allow users to transfer value and ownership of digital assets, such as cryptocurrencies and non-fungible tokens (NFTs), between different accounts and addresses.
The abbreviation "txn" is often used in discussions about cryptocurrencies, and can be used to refer to any type of transaction, such as a transfer of funds, a smart contract execution, or an NFT minting or transfer.
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