What Are Transaction Triggers?
Transaction triggers refer to the ability to set up specific conditions that, when met, automatically execute a group of transactions on a blockchain.
Blockchains function as decentralized distributed ledgers consisting of individual blocks of data.
Once a block is verified and recorded on the network, its data is immutable.
Empowering Automated Actions
Transaction triggers provide convenience and assurance to users in various ways.
For instance, users can set up stop-loss orders on decentralized platforms, triggering the closing of positions when the price of borrowed assets drops to a specified threshold.
This helps mitigate losses and manage risk, particularly during bear markets or volatile conditions.
Transaction triggers eliminate the need for constant monitoring and enable users to react quickly to market movements without being physically present.
This feature is precious in the highly volatile cryptocurrency market.