Blockchain - Distributed Ledger Technology (DLT) provides an encrypted distributed network
that makes it possible for mulitple parties to transact securely on a peer-to-peer basis without
a third-party.
Transactions performed using DLT are immutable and independently verified. DLT refers to the processes and related technologies that enable nodes in a network (or arrangement)
to securely propose, validate and record state changes (or updates) to a synchronised ledger that is
distributed across the network’s nodes. DLT enables entities, through the use of established procedures
and protocols, to carry out transactions without necessarily relying on a central authority to maintain
a single “golden copy” of the ledger.
Distributed Ledger (or blockchain) Technology has captured the attention of many industries
including those active in payment, clearing and settlement, with a promise of greater efficiency
and higher resiliency.Whilst there are many security and business benefits in utilizing or building applications
using
Distributed Ledger Technology (DLT), there are risks associated with the selection,
creation, configuration and access to your blockchain network and applications.
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