Distributed Ledger Technologies

A distributed ledger is a database shared by multiple participants in which each participant maintains and updates a synchronized copy of the data. Distributed ledgers allow members to securely verify, execute, and record their own transactions without relying on an intermediary, such as a bank, broker, or auditor.

Smart contracts are digital contracts that define the terms of a transaction via computer code. They also verify, execute, and enforce that transaction without the need for a third-party intermediary.

Decentralized applications (dapps) are built using blockchain or distributed ledger technologies. Dapps allow users to transparently complete transactions, verify claims, and collaborate without needing to trust a centralized intermediary.

If you are learning about web3, cryptocurrency, or blockchain the chances are that you have heard different projects referred to as being a layer 1 or a layer 2 project. This post will explain the differences between layer one and layer two networks and provide examples of both.

Directed acyclic graphs provide developers with new ways to create a web3 world. Learn more about DAGs, how they work, and how they may impact distributed ledger technology.

What happens during blockchain transactions? Learn the basics about this essential part of cryptocurrency.

Understanding the difference between DAG vs blockchain is essential for keeping up with the evolving distributed ledger landscape.