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Short Description:

Checks are cryptographic instruments within the XPRL that allow users to set conditional requirements for valid transactions, leveraging the power of smart contracts and blockchain technology for secure and automated payment settlements.

Main Description:

Checks refer to cryptographic instruments or conditional payments that can be programmed and executed within the XPRL blockchain. Checks allow users to set certain conditions or requirements that must be met for a transaction to be valid and processed. These conditions can include specific timeframes, balances, signatures, or other parameters defined by the user. Checks can be used for various purposes, such as recurring payments, escrow services, and conditional transfers. Checks leverage the power of smart contracts and blockchain technology to enforce transparency, immutability, and trust in the execution of financial transactions on the XPRL. With checks, participants can ensure that funds are released only after a predefined time, mitigating risks and enhancing the overall integrity of transactions.