The Mechanics of Distributed Ledger Technology (DLT)
Distributed ledger technology or DLT is a virtual system that records asset-based transactions. In fact, every detail related to the transaction becomes part of the record. What’s interesting is that the recorded database through DLT doesn’t include a dedicated data center or administration. The database becomes instantly accessible to participants from different parts of the world.
Distributed Ledger Technology Properties
Programmable — each block is programmable through smart contracts.
Distributed — every network participant has a ledger copy to ensure transparency.
Immutable — all validated records are essentially irreversible, which means no one can change the information.
Secure — all stored records are encrypted on an individual basis.
Anonymous —the identity of involved participants is pseudonymous or anonymous.
Unanimous — all participants in the network confirm the validation of all records.
