Definitions Edit

Distributed ledger technology is

an asset database that can be shared across a network of multiple sites, geographies or institutions.[1]
is the general term used to refer to methods of maintaining distributed ledgers on networks of computers.[2]

Overview Edit

"All participants within a network can have their own identical copy of the ledger. Any changes to the ledger are reflected in all copies in minutes, or in some cases, seconds. The assets can be financial, legal, physical or electronic. The security and accuracy of the assets stored in the ledger are maintained cryptographically through the use of 'keys' and signatures to control who can do what within the shared ledger. Entries can also be updated by one, some or all of the participants, according to rules agreed by the network."[3]

References Edit

  1. Distributed Ledger Technology: Beyond Block Chain, at 5.
  2. Smart Contracts and Distributed Ledger–A Legal Perspective, at 7.
  3. Distributed Ledger Technology: Beyond Block Chain, at 5.

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