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What is a distributed ledger?

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  • What is a distributed ledger?
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Distributed Ledger Technology defines a consensus-based, replicated, shared, and synchronised record-set, not bound to a single location, and therefore without a central administration or data storage. Blockchain is a form of DLT.

What this means is that anyone can have a copy of the database, and each person’s copy should be identical. There is no master copy, and it is solely through a common agreement that each copy of the database can be considered genuine.

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