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Distributed Ledger Technology

Overview#

Distributed Ledger Technology (DLT) is the technology that describes the protocol used for Blockchain and Merkle Tree

Distributed Ledger Technology is used to describe a type of system in which a single, universal record of transactions is replicated, although there is no absolute agreement on a set of necessary characteristics.

Distributed Ledger Technology introduce a revolutionary new capability: non-trusting entities can securely share and trust a database outside their firewalls, without any intermediary or central authority.

Distributed Ledger Technology are immutable, irrefutable, and highly hack-resistant. Since each node of a distributed ledger has an identical copy of the ledger, not a single comma can be changed anywhere without being noticed and within a Permissioned Systems, invalidated, and rejected by the network.

Though cryptocurrencies (there are hundreds now) like Bitcoin would not be possible without Distributed Ledger Technology, the reverse is not true for permissioned ledgers, which can elegantly provide Self-Sovereign Identity with no need for a cryptocurrency.

Distributed Ledger Technology allows securities to be settled in minutes instead of days.

Some uses of Distributed Ledger Technology:

More Information#

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