Distributed Ledger

Distributed ledger is a type of database that is consensually shared and synchronized across multiple sites, countries, or institutions. Unlike traditional databases, it has no central data store or administration functionality. Each participant in the network has access to the entire database and its complete history. Participants can verify the records without a central authority. This decentralization enhances security and transparency, making it nearly impossible for a single entity to manipulate the data. Distributed ledgers underpin cryptocurrencies, like Bitcoin, and other blockchain applications, enabling peer-to-peer transactions in a secure and transparent manner.