https://notes.io/wVgu9 Introduction Blockchain has surfaced as a groundbreaking idea in the online world, offering transparency and safety in transactions. As industries continue to evolve, understanding distributed ledger is essential for businesses and users alike. This guide will unpack the basics of distributed ledgers and explore its various uses. Body Content What is Blockchain? At its core, distributed ledger technology is a decentralized database that stores a ever-expanding list of entries, known as blocks, which are connected using encryption. Each block contains a cryptographic hash of the prior block, a timestamp, and transaction data. This structure guarantees the integrity and sequence of the data. Key Features of DLT Decentralization: Unlike central systems, DLT operates on a peer-to-peer network, removing the need for a main hub. Transparency: Every participant can view to the entire ledger, fostering trust and responsibility. Immutability: Once entered, information cannot be changed, providing long-term accuracy. Applications of Blockchain Finance: Digital currencies like Bitcoin are possibly the most popular applications, providing a secure method for exchanges without middlemen. Supply Chain: By tracking products from origin to end point, DLT enhances transparency and reduces fraud. Healthcare: Secure patient data, enhancing information exchange without compromising confidentiality. Conclusion Understanding DLT is vital for navigating the online landscape today. As applications expand through multiple fields, adjusting to this innovation can provide numerous benefits. Explore further into to stay ahead and take advantage on its possibilities.