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Distributed Ledger Technology
Distributed Ledger Technology (DLT) describes a decentralised database architecture that enables multiple participants to have a synchronised copy of a constantly updated digital ledger. For example, blockchain is a type of DLT.
In a DLT database, the ledger is distributed across a network of computers, often referred to as nodes. Each participant on the network has a copy of the entire ledger, and any changes or additions to the ledger are reflected and synchronised across all copies.
Distributed ledgers are characterised by decentralisation, immutability, transparency, and use of consensus mechanisms and smart contracts.
Key Takeaway
Distributed Ledger Technology (DLT) enables multiple participants to have a synchronised copy of a constantly updated digital ledger. Blockchain is a type of DLT.