In the context of crypto, a public ledger is a digital record of all transactions that have ever occurred on a blockchain network, and it's open for anyone to view

Key Features:

1). Transparency: Every transaction (e.g., sending or receiving crypto) is visible to all participants on the network.

2). Immutable: Once recorded, transactions can't be changed or deleted.

3). Distributed: Copies of the ledger exist across thousands of nodes (computers), not stored in one central place.

Example:

If Michael sends 1 Bitcoin to Bob, that transaction is:

1. Verified by the network,

2. Recorded in a block,

3. Added to the blockchain (the public ledger),

4. Viewable by anyone using a blockchain explorer.

So, the public ledger is the foundation of trust in crypto — no central authority is needed because the system verifies and records everything openly.