Digital Ledgers

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What is a blockchain in simple words?

Blockchain defined: Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network. An asset can be tangible (a house, car, cash, land) or intangible (intellectual property, patents, copyrights, branding).

What is a Digital Ledger?

Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system. A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain.

What is the ledger type used in the blockchain?

Underlying distributed ledgers is the same technology that is used by blockchain, which bitcoin uses as its distributed ledger. A distributed ledger can be described as a ledger of any transactions or contracts maintained in decentralized form across different locations and people.

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