Blockchain and Distributed Ledger Technologies

3.

Introduction to Distributed Ledger Technology

3.1.

Defining a Digital Ledger

3.1.1.

Structure and Function

3.1.2.

Types of Ledgers

3.1.3.

Traditional vs Digital Ledgers

3.2.

Key Characteristics of DLT

3.2.1.

Decentralization

3.2.1.1.

Elimination of Central Authority

3.2.1.2.

Peer Participation

3.2.1.3.

Network Effects

3.2.2.

3.2.2.1.

Shared Recordkeeping

3.2.2.2.

3.2.2.3.

Public Verifiability

3.2.3.

3.2.3.1.

Tamper Resistance

3.2.3.2.

Cryptographic Anchoring

3.2.3.3.

Historical Preservation

3.2.4.

3.2.4.1.

Agreement Among Participants

3.2.4.2.

Trustless Environments

3.2.4.3.

Conflict Resolution

3.3.

DLT vs Traditional Databases

3.3.1.

Data Structure Differences

3.3.2.

Control and Access

3.3.3.

Update and Deletion Policies

3.3.4.

3.3.5.

Performance Considerations

3.4.

Benefits and Limitations of DLT

3.4.1.

3.4.2.

Technical Limitations

3.4.3.

Economic Considerations

3.4.4.

Environmental Impact

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