Altcoins Talks - Cryptocurrency Forum
Further Discussions => Blockchain Technology => Topic started by: Goodcat49 on April 28, 2019, 08:49:15 PM
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Blockchain and distributed ledger technologies (DLTs) are becoming known and adopted by a wider audience including banks, government, companies and others, daily. However, most people and institutions, have been confusing these two terms – they actually don’t know the differences between these two technologies.
Distributed Ledger Technology
The DLT is a complex database of records which isn’t stored or verified by any central body. Many people confuse it with blockchain but it’s not. DLT is technically decentralized and largely depends on similar principles of consensus like those of blockchain, however, its corporate organization, may (or is) not – e.g. Bitcoin (BTC).
Blockchain
This technology is a form of distributed ledger having an actual and explicit technological foundation. In fact, it’s the one which creates an unchangeable ledger of records which is kept by a decentralized setup, where all records are appropriated by consensus.
Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/blockchain-distributed-ledger/
(https://coinidol.com/upload/resize_cache/iblock/982/900_900_1/982defff25646bf70931d00b2676d51c.png)
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Blockchain and Distributed Ledger Technology DLT are being interchanged by many. Unknowing that the 2 are not the same. DLT is a step towards achieving the blockchain technology. Some companies favours DLT over a pure blockchain include Google’s, recent partnership with Digital Asset seeks to bring DLT tools to their cloud service customers. Volkswagen also labelled its collaboration with IOTA as an experiment in distributed ledger technology. While Blockchain are decentralised network, where all records are approved by consensus. Blockchain is in fact a form of distributed ledger with a very specific technological underpinning.It creates an unchangeable ledger of records that is maintained by a decentralised protocol.
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Blockchain is basically a special form of DLT. The blockchain, in fact, is the only form of DLT that employs a chain of blocks to reach consensus on the distributed ledger. Now there are different types of blockchain platforms, the ones that put accent on security or scalability, or decentralization. Currently I am familiar with only one blockchain platform that applies all three of those or has solved the so called Blockchain trilemma. They are called Locus Chain, I believe they are developed in Korea. It became pretty interesting to me so I am doing more research about them. Am looking forward to see how they'll perform.
:)