Distributed ledgers are the databases shared across a network, which are controlled by multiple parties in different geographical locations. It can be accessed by participants at each node and they can get an identical copy of the log. If the ledger is edited, the same changes will be applied to the copies too in short terms, the database is synchronized. In a traditional Ledger database, we have one centralized node, hence if we have a sudden malware attack or any failures, the entire system gets shut down. Hence data security and stability becomes a big question when it comes to traditional ledger databases. To overcome this, we bring to you the distributed ledger system which runs on blockchain technology. Distributed ledgers are highly secure, as they are decentralized and provide transparency.
- No third parties are required
- Security and Tamper-proof
Real time use cases
Bitcoin, Ethereum and Ripple are realtime examples having the same functional model of a blockchain powered distributed ledger system.
We recommend switching over your traditional database to a blockchain powered database. Configuration and setup can be done , making it highly secured. The key benefits include no data tampering and no data overriding as each change made in each node will be replicated and a copy of those changes will be made by default. So it is easy to keep track of what happens internally. You can be the master of your own network.