The blockchain is a technology that works like a ledger. And in fact; it also works like a distributed ledger, where every participant in the blockchain holds a copy.
A blockchain is a type of distributed ledger. In a Blockchain, all participants in the system receive all transactions (bundled in a block).If you see In a Distributed Ledger Technology (DLT) type of solution; the participants in the network receive only a subset of all transactions.
Every time two participants exchange money, and their ledgers (as well as every other participant’s ledger) is updated with that transaction. A ledger is simply a list of records which can be used in any form – a notebook, an excel file, anything.
Blockchain uses the ledger concept. However, the ledger is shared or every hub on the Blockchain has the entire and same copy of the shared ledger.
- Ledger is a physical record whereas blockchain is a digital record.
- Ledger can be edited/deleted /modified whereas blockchain is tamper resistant.
- Ledger is reversible whereas blockchain is irreversible.
- Ledger is not transparent whereas blockchain is transparent.
Also read: How Does Blockchain Works?
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