Common Uses of Blockchain | Distributed Ledger Technology DLT

Common Uses of Blockchain | Distributed Ledger Technology DLT

A distributed ledger can be described as a ledger of any transactions or contracts supported by a decentralized network from across different locations and people, eliminating the need for a central authority. All the information on it is securely and accurately stored using cryptography and can be accessed using keys and cryptographic signatures. Any changes or additions made to the ledger are reflected and copied to all participants in a matter of seconds or minutes.

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