How Are Blockchain And Distributed Ledger Different?
Câu trả lời
Blockchain and Distributed Ledger Technology (DLT) are closely related concepts, but they are not synonymous. Understanding their differences is crucial for grasping the nuances of modern digital ledger technologies.
Distributed Ledger Technology (DLT)
Distributed Ledger Technology is a broad category that encompasses various types of databases that are spread across multiple sites, countries, or institutions. Unlike traditional databases, DLT has no central data store or administration functionality. Instead, each node in the network processes and records transactions, and the nodes collectively maintain the ledger in a decentralized manner. This technology ensures that records are replicated and accessible across a network of computers, making the system highly transparent and resistant to fraud since every participant has access to a full copy of the ledger[1][2][3][4][5][6][7].
Blockchain Technology
Blockchain is a type of DLT, but it has specific characteristics that distinguish it from other forms of distributed ledgers:
Structure: Blockchain organizes data in blocks that are then chained together using cryptographic hashes. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data, making it extremely secure and immutable. This structure ensures that once data is entered into the blockchain, it cannot be altered without changing all subsequent blocks, which requires consensus from the network majority[1][2][3][4][5][6][7].
Consensus Mechanisms: Blockchains typically use consensus methods like Proof of Work (PoW) or Proof of Stake (PoS) to validate new blocks. These mechanisms help to prevent fraudulent transactions and ensure all nodes in the network agree on the state of the ledger[1][2][3][4][5][6][7].
Decentralization and Transparency: Blockchain technology is highly decentralized, meaning that no single entity has control over the entire network. This decentralization makes blockchains very resistant to censorship and corruption. Additionally, most blockchains are public, which allows anyone to view the tran...
