What is DLT?

What is DLT?



Distributed Ledger Technology or DLT is a distributed ledger technology that allows data to be recorded and shared across a network. This involves several independent computers (called “nodes”), in contrast to the traditional registry, where the entire array of information is stored centrally.

The nodes in the system are closely related and interact with each other: each of them can make changes to the registry (independently of the others), after which all nodes vote and, when a consensus is reached, the registry is supplemented with new data.

Blockchain is considered to be the first effectively working and fully implemented example of DLT. It is important to understand that these concepts are not synonymous – blockchain is just one type of DLT and is just a subcategory of a broader concept.

Distributed ledger technology has several important features:

  • not regulated by any central authority;
  • recording, data sharing and transaction synchronization occur according to a consensus algorithm;
  • data is stored simultaneously on multiple nodes.

Since control is transferred to all participants and distributed over the network, this provides the technology with a high level of transparency.

There are the following types of distributed ledgers:

  • Public. It is an open source database. Any user can download the database and take part in the process of making changes. Scope of application: actively used in most cryptocurrencies.
  • Private. Changes to private databases can only be made by a specific centralized organization. Information in them can be both open and limited for public access. Scope of application: Used by companies for internal information storage and auditing.
  • Federated. Such databases are managed by a group of individuals. They do not allow everyone to enter new data (unlike open registries), instead, all changes are controlled by pre-selected communication nodes. Scope of application: mainly the banking sector.

One of the main advantages of DLT is the absence of intermediaries and a central administrator, which significantly increases the potential for fast and inexpensive transactions.

In addition, the innovative data storage technology is well protected from hacking, information is difficult to fake or make unauthorized changes. In order to succeed, hackers need to attack all communication nodes at once, unlike traditional databases.

Contact the experts

Have a question?

Contact the experts Have a question?

I accept User agreement and I give my consent to processing of my personal data
Personal data processing agreement

The user, filling out an application on the website (hereinafter referred to as the Site), agrees to the terms of this Consent for the processing of personal data (hereinafter referred to as the Consent) in accordance with the Law of Ukraine “On the collection of personal data”. Acceptance of the offer of the Consent is the sending of an application from the Site or an order from the Operator by telephone of the Site.

The user gives his consent to the processing of his personal data with the following conditions:

1. This Consent is given to the processing of personal data both without and using automation tools.
2. Consent applies to the following information: name, phone, email.

3. Consent to the processing of personal data is given in order to provide the User with an answer to the application, further conclude and fulfill obligations under the contracts, provide customer support, inform about services that, in the opinion of the Operator, may be of interest to the User, conduct surveys and market research.

4. The User grants the Operator the right to carry out the following actions (operations) with personal data: collection, recording, systematization, accumulation, storage, clarification (updating, changing), use, depersonalization, blocking, deletion and destruction, transfer to third parties, with the consent of the subject of personal data and compliance with measures to protect personal data from unauthorized access.

5. Personal data is processed by the Operator until all necessary procedures are completed. Also, processing can be stopped at the request of the User by e-mail:

6. The User confirms that by giving Consent, he acts freely, by his will and in his interest.

7. This Consent is valid indefinitely until the termination of the processing of personal data for the reasons specified in clause 5 of this document.

Join Us

Send CV

I accept User agreement and I give my consent to processing of my personal data
Please allow cookies to be more efficient with your site.

Дана версія веб-сайту завантажена за замовчуванням для користувачів в Україні. Якщо ви хочете повернутися на попередню версію веб-сайту натисніть "Повернутись назад", для того щоб залишитися натисніть "Закрити". Натискаючи "Повернутись назад" або "Закрити" ви погоджуєтесь із Політикою використання файлів Cookies