Are there different types of ledgers for cryptocurrencies and how do they differ?

1 answers

• Miles ZhangJul 18, 2022 · 3 years ago
  Definitely! Ledgers for cryptocurrencies can be categorized into centralized and decentralized types. Centralized ledgers are managed by a single entity, like a bank or a financial institution. They have the authority to control and make changes to the ledger. On the contrary, decentralized ledgers, such as blockchain, are distributed across a network of computers, and no single entity has control over the ledger. This decentralized nature ensures transparency, security, and immutability of the ledger. Additionally, decentralized ledgers eliminate the need for intermediaries, reducing costs and increasing efficiency. So, the key difference lies in the centralization and control of the ledger.
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