What Does Blockchain (Distributed Ledger) Mean?
A blockchain is a tamper-resistant distributed ledger that’s used to validate and store digital transactional records. No single authority is responsible for maintaining a Blockchain. Instead, computers in a peer-to-peer (P2P) network each store a copy of the ledger and transactions are verified through a decentralized consensus mechanism.
Techopedia Explains Blockchain (Distributed Ledger)
Blockchain can be thought of as a distributed database technology that’s maintained by multiple computers in a network. The security of this system is based on the idea that the financial cost of conducting a fraudulent transaction will be much higher than any potential reward.
