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distributed ledger technology (DLT)

Distributed Ledger Technology (DLT) is a technology in which account management is distributed across multiple servers. A typical application of distributed ledger technology is the blockchain

. DLT technology differs from the classical concept of data processing

in thataccount books or databases

arenot maintained by one computer, but copies of the account books are distributed decentrally on many computers. Peer-to-peer networks are ideally suited for this distributed concept. In DLT technology, data is stored in a decentralized manner on different servers and transactions

are recorded by all of them. Once the data is stored, it is subject to the rules of the network.Transparency is a key advantage of DLT technology, as participants can access all shared data. Data changes or additions are copied to the participant servers in the shortest possible time. Thanks to transparency, attacks are detected directly. Moreover, in order to be successful, an attacker

wouldneed to simultaneously access all copies of data

that reside on many servers. With DLT technology, assets can be transferred between communication partners, as supported by the Internet of Values. The transactions are secure, reliable and extremely efficient because they take place directly between the communication partners without the need for an intermediary. It can therefore be assumed that distributed ledger technology and blockchain technology will play a significant role in the future financial sector.

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Englisch: distributed ledger technology - DLT
Updated at: 25.06.2019
#Words: 299
Translations: DE