Glossary - ChicksX

Central Ledger is a record-keeping system where all transactions are recorded and managed by a single, central authority.

Central Ledger is a system used in finance to track and record transactions. Unlike decentralized ledgers, where multiple copies exist across different nodes, a central ledger is maintained by a single, authoritative source. This central authority ensures the accuracy and integrity of the data, but it also represents a single point of failure and control. In the context of a crypto/fiat exchange like ChicksX, a central ledger can streamline operations but may also pose risks related to transparency and security.