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What is a distributed ledger?

A distributed ledger is a database that is shared and synchronized by various people across multiple sites, institutions, or geographies. It allows for public "witnesses" to be present during transactions.

Each network participant has access to and owns an identical copy of the recordings shared across the network.

Any changes or additions made to the ledger are immediately reflected and copied to all participants.

A distributed ledger differs from a centralized ledger, which is the type of ledger used by the majority of businesses. Because it has a single point of failure, a centralized ledger is more vulnerable to cyber-attacks and fraud.

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