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ARTICLE · 14 JANUARY 2019

Blockchain: Every Blockchain Is A Distributed Ledger But Every Distributed Ledger Is Not A Blockchain

Michael Kyprianou & Co. LLC
Michael Kyprianou & Co. LLC
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Due to the early-stage of the technology that blockchain represents much confusion has blurred its being. So many talks have been given so many conferences created so many use cases explained.

CyprusTechnology
Agis Charalambous
Agis Charalambous
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Due to the early-stage of the technology that blockchain represents much confusion has blurred its being. So many talks have been given so many conferences created so many use cases explained. The Blockchain term is often used interchangeably with the one of Distributed ledger technology (DLT), but there lies a difference between the two.

DLT

A distributed ledger is a database that is replicated and saved in each node within the network which is being updated by each and every node individually.

No central authority stands as a point of reference. Updates are voted upon by nodes in a process that ensures majority agreement on the decision of the proposed update. Once consensus is reached on one version of the ledger, the special algorithm disseminates this information with the latest consensus decision on the updated form of the ledger being saved on every node. This process significantly eliminates the need for trust and trusted authorities provoking a paradigm

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