A distributed ledger is a database that is consensually shared and synchronized across multiple sites, institutions or geographies. It allows transactions to have publice “witnesses”, thereby making a cyberattack more difficult. The participant at each node of the network can access the recordings shared across that network and can own an identical copy of it.
Further, any changes or additions made to the ledger are reflected and copied to all participants in a matter of seconds or minutes. Underlying the distributed ledger technology is the blockchain, which is the technology that underlies bitcoin.
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