{"description":"Key Features of Distributed Ledger Technology

1. Decentralization: DLT operates on a peer-to-peer (P2P) network where each participant (node) maintains an identical copy of the ledger. This decentralization eliminates the need for a central authority or intermediary to validate transactions.

2. Consensus Mechanisms: DLT uses consensus algorithms to achieve agreement among nodes on the validity of transactions before they are added to the ledger. Popular consensus mechanisms include Proof of Work (PoW), Proof of Stake (PoS), and Practical Byzantine Fault Tolerance (PBFT).

3. Immutability: Once data is recorded on the ledger, it cannot be altered or tampered with retroactively. This immutability is achieved through cryptographic techniques such as hashing and digital signatures, ensuring data integrity and transparency.

4. Security: DLT employs cryptographic security measures to protect transactions and data stored on the ledger. Public key cryptography ensures that only authorized participants can access and update the ledger.

5. Transparency: DLT enhances transparency by allowing all participants to view and verify transactions in real-time. This transparency increases trust among network participants and reduces the risk of fraud or manipulation.

6. Smart Contracts: Many DLT platforms support smart contracts, which are self-executing contracts with predefined rules and conditions. Smart contracts automatically execute transactions when specific conditions are met, further automating processes on the ledger.","isQuoted":true,"title":"What is Distributed Ledger Technology?","createdBy":{"id":"57","email":"nodo.news@emurgo.africa","full_name":"NODO Team","avatar":"https://static.nodo.xyz/1693905983362-zwpl9tyf3o.png","company_id":152,"role_in_organization":"Admin","is_public":true,"roles":["Maker"],"company":{"company_id":152,"company_name":"NODO","slug":"nodo","discover_flg":true,"logo_url":"https://admin.nodo.xyz/wp-content/uploads/discover/logo/NODO_logo.png"}},"slug":"what-is-distributed-ledger-technology","postId":"103067"}