A distributed ledger is essentially a record of information, or database, that is shared across a network. It may be an open, publicly accessible database or access may be restricted to a specified group of users. From a technical perspective it can be used, for example, to record transactions across different locations. The technology that makes this possible is often referred to as “blockchain”. The name comes from the fact that some distributed ledger solutions store all individual transactions in groups, or blocks, which are attached to each other in chronological order to create a long chain. This long chain is put together using a mathematical formula which ensures the security and integrity of the data. This chain then forms a register of transactions that its users consider to be the official record.
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