Distributed Ledger Technology (DLT)

Distributed Ledger Technology (DLT)

Distributed Ledger Technology (DLT) refers to a digital system for recording transactions, where the data is stored across multiple locations or among multiple participants. This technology allows for the secure and transparent management of information without the need for a central authority. DLT can be public or private, with varying degrees of permission for participants.

Examples

  • Blockchain: The most well-known type of DLT, used in cryptocurrencies like Bitcoin and Ethereum.
  • Hashgraph: A distributed ledger that uses a unique consensus algorithm to achieve high throughput and fast transactions.
  • Directed Acyclic Graph (DAG): Used in projects like IOTA, allowing for feeless transactions and scalability.

Use Cases

  • Finance: Cross-border payments and settlement processes that reduce costs and transaction times.
  • Supply Chain Management: Enhancing transparency and traceability of goods as they move through the Supply Chain.
  • Healthcare: Secure sharing of patient records among various Stakeholders while maintaining privacy.
  • Voting Systems: Ensuring transparent and tamper-proof electoral processes.