A distributed ledger is a type of database that is shared, replicated, and synchronized across multiple nodes or participants in a network. Unlike traditional centralized databases, where a single entity has control over the data, a distributed ledger has no central authority or single point of control. This structure is designed to be transparent and secure, as each participant in the network has access to the entire ledger and its complete history, making unauthorized alterations difficult or impossible. One of the most well-known types of distributed ledgers is blockchain, which uses cryptographic techniques to create a secure and immutable record of transactions. Distributed ledgers are particularly useful in scenarios that require trust among various parties but where a centralized authority is either not desired or not feasible. They have found applications in a variety of sectors, including finance, supply chain management, and healthcare, offering the promise of increased transparency, reduced fraud, and enhanced efficiency.
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Published: April 4, 2023, 11:35 a.m.
In the previous post, we explored the tremendous potential of the Internet of Things (IoT) along with key challenges like security, complexity, lack of standards, and more. Could blockchain … Read More
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