Unlocking the Battle Between Distributed Ledger & Blockchain

Unlock the clash between blockchain & DLT.

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The debate around distributed ledger and blockchain technology has been growing ever since the two concepts were first used in the cryptocurrency industry. Both are integral parts of the industry, but the rivalry between them has created an ongoing battle as to which technology is better. In this article, we will unlock the battle between distributed ledger and blockchain to better understand the key differences and advantages of each technology.

Unravelling the Rivalry

Distributed ledger and blockchain are both part of the same family – distributed ledger technology (DLT). A distributed ledger is a database that is distributed, shared, and synchronized across all nodes in a network. Transactions are recorded and stored in the database and are accessible to all participants in the network. Blockchain is a specific type of distributed ledger that has a sequence of blocks that contain data and are linked together with cryptographic hashes.

The main differences between distributed ledger and blockchain are related to the consensus methods used to validate transactions. Blockchains use consensus protocols such as proof-of-work and proof-of-stake to verify transactions, while distributed ledgers use consensus algorithms such as Byzantine Fault Tolerance and Practical Byzantine Fault Tolerance to achieve the same purpose.

The Great Debate Unlocked

The debate around distributed ledger and blockchain technology is an ongoing one. Both technologies offer advantages in certain use cases and can be used for the same purpose. However, when it comes to scalability, distributed ledger technology has the advantage. This is because it allows for a larger number of transactions to be processed in parallel. Blockchain, on the other hand, is limited by its sequential nature.

In terms of security, blockchain technology has the advantage. This is because it uses consensus protocols to validate transactions, which are more secure than consensus algorithms used by distributed ledgers. Furthermore, blockchain technology is immutable, meaning that the data stored in the blocks cannot be tampered with.

Finally, distributed ledger technology is more cost-effective than blockchain technology. This is because distributed ledgers require less computing power to process transactions. Additionally, distributed ledgers can be used for a wider range of applications due to their flexibility.

In conclusion, the debate between distributed ledger and blockchain technology is an ongoing one. Each technology has its own advantages and disadvantages, and the best technology to use depends on the purpose and use case. However, one thing is certain: distributed ledger and blockchain technology are both integral parts of the cryptocurrency industry and will continue to be used in the future.

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