Distributed Ledger Technology (DLT) is a decentralized database that maintains a continuously growing list of records (blocks) across multiple nodes in a network. Unlike traditional databases, DLT has several key characteristics:
Decentralization: No single point of control or failure
Immutability: Once data is recorded, it cannot be easily altered
Transparency: All network participants can view the ledger
Consensus: Agreement mechanisms ensure data integrity across nodes
Traditional databases are centralized, controlled by a single entity, and can be modified by authorized administrators. DLT distributes control across multiple participants, making it more resistant to tampering and single points of failure.
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