DISTRIBUTED LEDGER TECHNOLOGIES
- 1. WHAT ARE WHAT ARE DISTRIBUTED LEDGER DISTRIBUTED LEDGER TECHNOLOGIES (DLTS)? TECHNOLOGIES (DLTS)? www.simplyfi.tech
- 2. BLOCKCHAIN & DISTRIBUTED LEDGER ORIGINS BLOCKCHAIN & DISTRIBUTED LEDGER ORIGINS www.simplyfi.tech When you receive your paycheck, for example, a bank controls the transaction. The bank validates the check, verifies that the employer holds the required funds in their account, and records the exchange. This record, or ledger, documents the transaction and the resulting change in wealth; you can look at your bank statement and see that you’re a little bit richer. For most transactions, a central entity like a bank has sole power over this ledger.
- 3. www.simplyfi.tech WHY ARE DISTRIBUTED LEDGER TECHNOLOGIES USEFUL? REMOVE THE MIDDLEMAN ACCESSIBILITY TAMPER-APPARENT IMMUTABILITY AND CONTROLLED MUTABILITY
- 4. BLOCKCHAINS & DISTRIBUTED LEDGERS BLOCKCHAINS & DISTRIBUTED LEDGERS EXPLAINED EXPLAINED www.simplyfi.tech Distributed ledger technologies, like blockchain, are peer-to-peer networks that enable multiple members to maintain their own identical copy of a shared ledger.
- 5. www.simplyfi.tech Rather than requiring a central authority to update and communicate records to all participants, DLTs allow their members to securely verify, execute, and record their own transactions without relying on a middleman.
- 6. www.simplyfi.tech While there are a wide variety of DLTs on the market, they are all comprised of the same building blocks: a public or private / permissioned / permissionless distributed ledger, a consensus algorithm (to ensure all copies of the ledger are identical), and a framework for incentivizing and rewarding network participation.
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