Distributed Ledger

What is a distributed ledger?

Distributed Ledger Definition: A distributed ledger is a shared database connected and synchronized across multiple sites and locations, which provides updated information to users. This ledger includes transactions with public access for viewing, and networks can create an identical copy.

When a change is made in the ledger, it is copied and shared with all the participants within a short time, usually in minutes or seconds. A centralized ledger is different than a distributed ledger, as companies mainly use it. However, it’s more susceptible to cyber-attacks and other issues because it’s not set up in the same way as a distributed ledger. The same technology that supports blockchain is also used in building distributed ledgers.

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