How does blockchain facilitate "auditability" in transactions?

Blockchain facilitates "auditability" in transactions primarily by providing an immutable record of all transactions that can be easily accessed and verified. In a blockchain system, each transaction is recorded in a way that once added to the blockchain, it cannot be altered or deleted. This characteristic ensures the integrity of the records and serves as a reliable source of truth for all parties involved.

The auditability is enhanced by the transparent nature of blockchain, allowing stakeholders to independently verify transactions without relying on a central authority. This means that any participant, given permission, can trace the history of a transaction from its inception to its current state, reinforcing trust among participants and enabling thorough audits. This level of transparency and immutability is critical for maintaining accurate records and simplifying the audit processes.

In contrast, the other options do not align with how blockchain is designed to support auditability. A manipulable record would compromise trust and security. Restricting access to transaction histories conflicts with the transparency promoted by blockchain technology, and limiting visibility to designated users undermines the very auditability that blockchain seeks to enhance by providing a universal ledger accessible to all authorized parties.