Provenance refers to the historical record and traceability of an asset's origin, ownership, and transaction history.
Provenance refers to the historical record and traceability of an asset’s origin, ownership, and transaction history. Blockchains provide a transparent and immutable trail that validates the authenticity, ownership, and chain of custody of digital assets. This enables participants to verify the entire lifecycle of an asset, from its creation or issuance to its current ownership and subsequent transfers. Provenance is particularly relevant in the context of digital art,where authenticity and ownership verification are paramount, and tracking the flow of funds through a market.