What is Blockchain Ledger?
A blockchain ledger is a distributed database that is maintained by a network of computers, which uses cryptography to ensure that each transaction is secure and cannot be altered retroactively without the consensus of the network.
- The ledger is made up of blocks, which contain a list of transactions, a timestamp, and a cryptographic hash of the previous block.
- Each new block is added to the chain in a linear, chronological sequence, forming a permanent, immutable record of all transactions that have occurred on the network.
- The decentralized nature of the blockchain ledger ensures that it is resistant to tampering, censorship, and fraud, making it an ideal platform for secure and transparent transactions.
- Blockchain technology is most commonly associated with cryptocurrencies like Bitcoin, but it has many other potential applications, such as supply chain management, voting systems, and digital identity verification.
- The decentralized nature of the blockchain ledger ensures that it is resistant to tampering, censorship, and fraud, making it an ideal platform for secure and transparent transactions.
- Blockchain technology is most commonly associated with cryptocurrencies like Bitcoin, but it has many other potential applications, such as supply chain management, voting systems, and digital identity verification.
What is Ledger in Cryptocurrency?
The ledger is the book in which the user’s transactions on the network are recorded. The ledger is like a book where everything is recorded to maintain security, privacy, and transparency in the network. It is shared among all the users on the network.