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Presence of Blockchain technology is increasing speedily in our day to day life. It is being analyzed by a large number of people and being used by entities like banks and governments. They are also bringing curiosity like how this technology can improve their situation.
There is another term that is rising in the area of digital money space, it is Distributed Ledger Technology or DLT. Furthermore, to some degree, it is the body that Blockchain plans to use for banks, governments, and major companies.
All About Distributed Ledger Technology
Distributed Ledger Technology, as the name recommends is a database of records that are not governed by any central authority. Sounds similar to Blockchain? But it's not the same as Blockchain services.
In DLT, the one who is implementing has more authority over how it is going to execute. They could, on a basic level, manage the structure, reason, and working of the system that supports its services. It's not sounding very decentralized unexpectedly. DLT is technically decentralized and depends on the different set of network and governance mechanism to Blockchain.
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