Decentralized ledger technology

Decentralized Ledger Technology (DLT) is a digital system that records transactions across multiple locations instead of a single central point. This means no one entity controls the information, enhancing security and transparency. Each transaction is added to a shared database, and once recorded, it cannot be easily altered or deleted. This technology underpins cryptocurrencies like Bitcoin and can be used for various applications, such as supply chain tracking or secure voting systems. Ultimately, DLT aims to build trust and reduce the risks associated with centralized systems.