A Blockchain A-Z of useful articles, explanations and analyses of the key issues, aspects and concerns of blockchain technology and distributed/shared ledgers; and their current and future potential in banking & finance, law, government and commerce.
Distributed Asset Ledgers
A distributed ledger is a digital record of who-owns-what. But unlike traditional database technology, there is no central administrator of the ledger, nor is there a central data store.
Instead, the ledger is replicated among many different nodes in a peer-to-peer network, and a consensus algorithm ensures that each node’s copy of the ledger is identical to every other node’s copy, which is why we can refer to the set of copies as a single shared ledger.
Asset owners must use cryptographic signature to debit their account and credit another’s, so a distributed ledger is unforgeable.