Distributed ledger

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A distributed ledger (also called a shared ledger, or referred to as distributed ledger technology) is a consensus of replicated, shared, and synchronized digital data geographically spread across multiple sites, countries, or institutions. There is no central administrator or centralised data storage.

A peer-to-peer network is required as well as consensus algorithms to ensure replication across nodes is undertaken.

In 2016, numerous banks tested distributed ledgers for international payments.

Applications[edit]

Incumbent banks are investing heavily in distributed ledgers as a cost-saving measure and a way to reduce operational risks.

See Also on BitcoinWiki[edit]

Source[edit]

http://wikipedia.org/