Transparency generally refers to the visibility of all transactions and activities on a decentralized blockchain, otherwise known as a public ledger. Each transaction that takes place is recorded on the ledger, and thus can be viewed by anyone in the network. This ensures that all network participants - and anyone with an interest in on-chain activity - has access to transaction details. Under this design, everyone can access the same information and can independently verify or validate transactions. Transparency is a fundamental principle in decentralized or permissionless blockchains as it promotes trust, accountability, and democratic oversight. The end result is fewer opportunities for fraud and a public ledger that is [[Censorship resistance|censorship resistant]].