# Distributed Ledger Technology (DLT) aka ** Distributed Ledger** 1. Is a [[Consensus Mechanism (algorithm)|consensus]] of replicated, shared, and synchronized digital data geographically spread across multiple sites, countries, or institutions. There is no central administrator or centralized data storage. 3. A Distributed Ledger Technology (DLT) is a database that is consensually shared and synchronized across network spread across multiple sites, institutions, or geographies. It allows transactions to have public witnesses, thereby making a cyberattack more difficult. In general, a [[Blockchain|blockchain]] is only one of the many types of data structures that provide secure and valid achievement of [[Distributed Consensus|distributed consensus]] (see, for example, [[R3 Corda|R3 Corda]] for a non-blockchain-based distributed ledger technology). 4. Distributed Ledger Technology (DLT) is defined as a system of independent computers that are simultaneously recording data. With distributed ledger technology, identical copies of the recording are kept by each computer. We can define a [[Distributed (network)|distributed system]], as one where all computers work independently toward the same goal as one large system. We can define a [[Ledger|ledger]] as a book used to record transactions (money in, money out). However, distributed ledger technology has evolved beyond recording [[Transaction(s)|transactions]] so that it can record any data. With distributed ledger technology, there is no central authority maintaining the system. Instead, updates to the ledger are independently created and then voted on. Once an agreement regarding the update has been reached, a recording is made in the ledger. The latest version of the ledger, with the new recording, is then saved to each computing system and the process repeats itself. The first type of distributed ledger technology is called the [[Blockchain|blockchain]]. 5. This is an analogy often made about [[Blockchain|blockchains]]. Instead of a centralized bank ledger, blockchains offer the promise of distributing balances throughout a network of computer servers. You aren’t going to a single bank to store where you send your value — instead, you are going to a decentralized network of peers. Distributed ledgers aren’t a new concept: the island of Yap used individual tables as early as 500 AD. They yelled at one another whenever they made a new transaction. [[Blockchain|Blockchains]] and [[Crypto (cryptocurrency)|cryptocurrencies]] offer the global, virtual network equivalent of that system. 6. Distributed ledgers are [[Ledger|ledgers]] in which data is stored across a network of [[Decentralized|decentralized]] [[Node(s)|nodes]]. The distribution allows for records to be independently constructed and held by every node, and not communicated to [[Node(s)|nodes]] held by a central authority like traditional centralized ledgers. Every single node on the network processes every transaction, coming to its own conclusions and then “voting” on those conclusions to make certain the majority agree with the conclusions. A distributed ledger does not have to have its own currency and may be [[Permissioned Blockchains|permissioned|private]] and [[Private Blockchains|private]]. Distributed ledger data can be either “[[Permissioned Ledger|permissioned]]” or “[[Permisionless|unpermissioned]]” to control who can view it. 7. A type of computer database that is stored on many private computers at the same time, instead of central company servers. [[Blockchain]] are also known as distributed ledgers. 8. A database held and updated independently by each participant (or [[Node(s)|node]]) in a large network. The distribution is unique: records are not communicated to various [[Node(s)|nodes]] by a central authority. 9. Distributed ledgers are ledgers in which data is stored across a network of [[Decentralized|decentralized]] [[Node(s)|nodes]]. A distributed ledger does not have to have its own currency and may be permissioned and private. 10. Distributed ledger technology (DLT)/ A system, most commonly a [[Blockchain|blockchain]], for creating a shared, [[Cryptography|cryptographically]] secured database. 11. Another term for a [[Blockchain|blockchain]]. Distributed ledgers are ledgers in which data is stored across a network of decentralized nodes. A distributed ledger does not have to have its own currency and may be permissioned and private.