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.

Distributed Ledger Technology Attributes#

There are a few Attributes used within defining the operations of various Distributed Ledger Technology ( or Blockchains)

• Trust
  • Permissionless System
  • Non Permissioned System
• Consensus Algorithm
• Digital Asset Containment
• Third-party Identification
• Smart contracts

Some uses of Distributed Ledger Technology:

• Bitcoin
• Blockchain and Blockchain 2.0
• Cryptocurrency (well most)
• CommonAccord
• Hyperledger Project
• Ripple Transaction Protocol
• Blockcerts

More Information#

There might be more information for this subject on one of the following:

• Bitcoin Cash
• Blockchain
• Byzantine Fault Tolerance
• Credential Recovery
• Cryptocurrency wallet
• DID Document
• DID Operations
• DID Subject
• DID descriptor objects
• DID method specification
• DID record
• DLT
• Decentralized Identifier
• Decentralized Public Key Infrastructure
• Digital Asset
• Distributed Consensus
• Distributed Ledger Technology
• Distributed system
• Ethereum
• Hyperledger
• Hyperledger Indy
• Identifier registry
• Identity Chains
• Identity Custodian
• Inter-Planetary File System
• Merkle Tree
• MimbleWimble
• Monero
• Node
• Plenum Byzantine Fault Tolerant Protocol
• Privacy Considerations Distributed Ledger Technology
• Public Ledger
• Ripple Company
• Ripple Transaction Protocol
• Sidetree protocol
• Smart contracts
• Sovrin
• Stellar Ledger
• The Next Big Thing
• Verifiable Claims
• W3C Decentralized Identifiers
• Web Blog_blogentry_130418_1
• Web Blog_blogentry_281018_1