Skip to main content

Blockchain Technology - Brain behind Cryptocurrencies



 Distributed Ledger Definition What is Distributed Ledger Technology (DLT)?


A distributed ledger is a consensus of replicated, shared, and synchronized digital data geographically spread across multiple sites, countries, and/or institutions.

Users of Distributed Ledger Technology (DLT) significantly benefit from the efficienies and economics by creating a more robust environment for real-time and secure data sharing. Contrary to common belief, the Bitcoin blockchain is not the only distributed ledger, in fact, many other users of Distributed Ledger Technology use different methodologies to achieve the same consensus (e.g. Ripple,MultiChain, HyperLedger Project).

 Blockchain Definition What is Blockchain Technology?


A blockchain is a type of distributed ledger, comprised of unchangable, digitally recorded data in packages calledblocks.

These digitally recorded "blocks" of data is stored in a linear chain. Each block in the chain contains data (e.g. bitcoin transaction), is cryptographically hashed. The blocks of hashed data draw upon the previous-block (which came before it) in the chain, ensuring all data in the overall "blockchain" has not been tampered with and remains unchanged.

 Blockchain vs. Distributed Ledger What is the difference between the two?


A blockchain is just one type of distributed ledger, not all distributed ledgers necessarily employ blocks or chain transactions.

Although the term ‘blockchain’ is used more frequently than ‘distributed ledger’ in discussions, a blockchain is only one of the many types of data structures that provide secure and valid achievement of distributed consensus. The bitcoin blockchain, which uses ‘Proof-of-Work Mining’, is the most publicly proven method used to achieve distributed consensus. However, other forms of distributed ledger consensus exist such as Ethereum, Ripple, Hyperledger, MultiChain, Eris, and other private enterprise solutions.

 -- Blockchaintechonologies.com

Comments

Post a Comment

Popular posts from this blog

Ripple (XRP) vs Stellar Lumens (XLM)

Considerations when deciding between XRP and Stellar Lumens With strong financial backing and a long list of partners,  Ripple  has attracted plenty of attention not only in the cryptosphere but also across mainstream media. But any analysis of Ripple inevitably draws comparisons with  Stellar Lumens (XLM) , another crypto giant focused on offering fast, reliable and affordable global payments. There are plenty of similarities between Stellar and Ripple, but also a few key differences. Read on to find out how these two cryptocurrencies stack up against one another and decide which project is best placed for success. Disclaimer:  This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. XRP vs XLM: The breakdown XRP (XRP) XRP Stellar Lumens (XLM) Stellar Lumen Description XRP is designed to offer ...
2 comments
Read more

Exscudo: We are ready for stress testing!

1 Introduction Dear users, we are glad to inform you that the time has come: we are ready to run the stress test! The purpose of the stress test is to determine the maximum number of users who can simultaneously work on the exchange 2 Referral program rules in the context of the stress test T he referral program runs in the test environment, so the stress test is conducted here: test.exscudo.com For users stress test we have improved functions of Exscudo beta exchange. All functions of real exchange will be available for you, except tokens deposit/withdrawal. We will automatically deposit tokens to every account to make stress testing easier for you. You have a chance to see how Exscudo exchange will work in nearly future.    The total number of reward tokens for the stress test participants is 100,000 EON. You can earn tokens in a proportion of 40%-20%-40%: you get 40% for invites, 20% — for your own trading and withdrawal operations and 40% for the exchange...
Post a Comment
Read more