Distributed Ledger – the Technology behind Blockchain

Knoldus Blogs

Distributed Ledger Technology is the concept behind the famous Blockchain technology. Let us see some of the key features of Distributed ledger, (which are all present in Blockchain as well) and how it is different from Blockchain.

In the conventional ledger systems, there is a central authority that keeps a single copy of the all the transactional records in the form of a physical or digital ledger. The authority itself holds the responsibility of maintaining and modifying the data.

Distributed ledgers on the other hand, are not dependent on any central administration or any central storage. A Distributed ledger is a database consensually shared, replicated and synchronized across multiple nodes in a peer-to-peer network.

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