Receipts and Blockchain Records

To further enhance transparency and trust in the redemption process, PGN requires that gold shops provide receipts for each transaction. These receipts are then uploaded to the blockchain, where they are linked to the corresponding transaction record. This ensures that every step of the redemption process is verifiable by all network participants, providing a clear and indisputable record of the transfer of gold from the Node or Custodian to the Cypher holder. Blockchain records serve as a permanent and public ledger of transactions, reinforcing the accountability of Nodes and Custodians and the overall integrity of the Phoenix Gold Network.