What is a distributed ledger?

Posted on October 22, 2022  •  1 minutes  • 146 words

A distributed ledger is a type of database that is shared, replicated, and synchronized among multiple participants in a network. It is a digital record of transactions or other data that is stored across multiple computers or nodes, rather than in a single, centralized location.

Distributed ledgers use various technologies, such as blockchain, to ensure that the ledger is secure, verifiable, and tamper-evident. This allows participants in the network to trust the data that is recorded on the ledger, without the need for a central authority or intermediary.

Distributed ledgers have many potential applications, including in finance, supply chain management, and the public sector. Because they are decentralized and secure, they can be used to create transparent and efficient systems for recording and tracking transactions and other types of data. They can also enable new business models and enable the development of new types of applications.