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Distributed Ledger

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Table of contents
    1. 0.2. How Distributed Ledger Works
    2. 0.4. Benefits of Distributed Ledger

A distributed ledger is a database that is decentralized and shared across multiple locations or participants. Unlike traditional centralized databases, it doesn’t rely on a single entity to maintain the system, ensuring transparency and security. Blockchain is the most popular type of distributed ledger, but other variations exist.

How Distributed Ledger Works

In a distributed ledger, all participants have access to the same records, ensuring consensus on data validity. When a transaction is recorded, it’s verified and added by multiple parties, preventing tampering. These ledgers use cryptographic techniques to safeguard data and ensure trust without requiring intermediaries.

Benefits of Distributed Ledger

Distributed ledgers eliminate single points of failure, ensuring more secure and resilient systems. They enable faster transaction processing, reduce fraud risks, and promote transparency in various industries, including finance, supply chain, and healthcare.