Major difference between DLT and blockchain
This has been a news for me as I have been majorly following blockchain for one purpose i.e. cryptocurrencies. Recently I have been feeling that there is a major distrust for cryptocurrency but that's for another day.
DLT aka Distributed ledger technology is a type of distributed database which assumes that there are some malicious nodes in the chain. Distributed database means data is stored across multiple computing devices. Blockchain takes it to the next level. Here, the transaction are stored in cryptographically linked blocks making a chain and broadcasts any modifications to all the participants.
So, what's the secret that makes blockchain special? In simpler terms, it allows modification of data in a safe and secure way as all the participants of the transaction can see what changes are being made and independently verify it with their own records. So, the factor of trust required diminishes in a large way.
DLT aka Distributed ledger technology is a type of distributed database which assumes that there are some malicious nodes in the chain. Distributed database means data is stored across multiple computing devices. Blockchain takes it to the next level. Here, the transaction are stored in cryptographically linked blocks making a chain and broadcasts any modifications to all the participants.
So, what's the secret that makes blockchain special? In simpler terms, it allows modification of data in a safe and secure way as all the participants of the transaction can see what changes are being made and independently verify it with their own records. So, the factor of trust required diminishes in a large way.
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