How does blockchain technology compare to distributed ledger technology in the world of digital currencies?

1 answers

• Richard AndemJan 27, 2022 · 4 years ago
  Blockchain technology and distributed ledger technology (DLT) are often used interchangeably, but they have some differences. Blockchain is a specific type of DLT that utilizes a chain of blocks to record and validate transactions. It operates on a decentralized network of computers, ensuring the integrity and security of the data. DLT, on the other hand, is a broader concept that encompasses various types of distributed ledgers, including blockchain. DLT can be permissioned or permissionless, while blockchain is typically permissionless. In the world of digital currencies, blockchain technology has revolutionized the way transactions are conducted. Its transparency, immutability, and decentralized nature have made it an ideal solution for digital currency transactions. With blockchain technology, users can transact directly with each other, eliminating the need for intermediaries and reducing costs. It has also opened up new opportunities for financial innovation and the development of decentralized applications (dApps).
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