Blockchain Security
DLT is a key component of Blockchain technology. It is a database that is spread across a network of computers, enabling the network to maintain a shared ledger of transactions that are tamper-proof and transparent. Each participant on the network has a copy of the ledger, and any changes made to the ledger are recorded on each copy, ensuring that there is no single point of failure.
One of the key advantages of DLT is that it eliminates the need for intermediaries, such as banks, as it enables direct peer-to-peer transactions. This means that transactions can be completed faster and at a lower cost than traditional systems.
There are two types of DLT: Permissionless and Permissioned. Permissionless DLT allows anyone to participate in the network, whereas Permissioned DLT restricts access to the network to a select group of participants. Permissioned DLT is often used in enterprise applications, where there may be concerns around confidentiality and security.
DLT is a critical component of Blockchain technology, as it enables the creation of a decentralized, transparent, and secure network for transactions.
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