Blockchain Developer Certification Practice

What describes a transaction in the context of blockchain?

1. A record of a double-spend event

2. A ledger entry for a contract

3. A record that captures an exchange between accounts

4. A snapshot of wallet balances

The correct answer is: A record that captures an exchange between accounts

A transaction in the context of blockchain typically refers to a record that captures an exchange between accounts. This encompasses various actions such as transferring cryptocurrencies, executing smart contracts, or altering asset ownership. Each transaction is cryptographically validated and added to a block, forming a secure and immutable chain of data. The essence of a transaction is in its role as a fundamental unit of interaction within the blockchain network, facilitating exchanges without the need for intermediaries. This feature not only enhances transparency but also ensures trust among participants in the network. While the other options touch on aspects related to blockchain, they do not encapsulate the comprehensive meaning of a transaction as effectively. A double-spend event highlights a potential issue rather than defining a transaction itself. A ledger entry for a contract could be part of a transaction but is not representative of all transactions broadly. A snapshot of wallet balances provides information at a single moment in time but does not reflect the dynamic nature of transactions that continuously occur on the blockchain.