Distributed ledger technology

Distributed ledger technology (DLT) is a database of records that are not stored or confirmed by one single user but by a consensus of more users. To allow for this consensus, a series of nodes on a peer-to-peer network, replicate and save their own copy of the ledger. When the ledger changes, each node will then vote by algorithmic consensus. As a result, the database is distributed. One of the main benefits of DLT is that it removes the need for a centralised database controlled by a single party. All users hold a part of the control and visibility of information stored. For more information feel free to watch this video or read a Kraken´s article.