DLT

The distributed ledger technology forms the basis for many decentralized networks/systems, such as the blockchain. The technology aims to guarantee a decentralized processing and storage of data. For this purpose, each network participant is granted an editing right (e.g., to read or add data records). As soon as changes are made by a participant (e.g., by a new transaction), an automatic update takes place so that all participants remain up-to-date. The verification of new transactions by all participants, also called consensus mechanism, protects the system against manipulation.