CandleFocus What Is Distributed Ledger Technology? A Deep Dive
2024-10-11
Author: Content Editor
This article discusses Distributed Ledger Technology (DLT) and its benefits and applications in various industries. DLT is a decentralized data storage system that enhances security, transparency, and accessibility without a central authority. It is like a spreadsheet that allows multiple users to access, update, and verify data without a manager overseeing every change. Unlike centralized systems, DLT stores, shares, and validates data across multiple nodes in a decentralized network, ensuring consistent views of the ledger. DLT has been applied in industries such as supply chain management, real estate, and the energy sector. However, DLT also faces challenges that may limit its widespread adoption and usability. Nevertheless, DLT is expected to continue transforming data security and transparency in 2024 and beyond.
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