Steemit Crypto Academy Contest - S1W2 / | Review Blockchain Through the Concept | by @sitaraindaryas

It's me (Mahnoor)

How are you guys i hope all will be okay and happy today meet me this is my first post in this wonderful community is called steemit crypto academy. And know this week i participate in this wonderful steemit engagement contest and know as you the week 3 is start of this season so, i decide to take part in this wonderful contest.

The theem of this wonderful contest is very interesting and that is "Review Blockchain Through the Concept" so, let's start discuss about this wonderful topic in the below.

The Many people think about that blockchain and distributed ledger are one and the same thing, but they are so different. Blockchain is built using the different technologies, and also distributed ledger is one of them, if say it is the most important, and I can not be wrong. A distributed ledger is also type of database that is encoded & distributed, an acting as a ledger that is records transactions across a system or network. And this is the also same technology that is Bitcoin uses.

For easily understand it, a think you work in a small shop and sell some things or products there. One day a person came and bought some things or products from your shop and paid you money. And then if you have a ledger where you record all of that items. So you can also have a recorded the transactions that is made.

Distributed Ledger Technology (DLT) has played significant part in building the Blockchain technology. This is technology has helped to make decentralized applications on Blockchain, such as the "DApps" and Distributed ledger technology (DLT) is now as becoming the underlying the layer of the futures of the internet.."

And all the transactions such as Peer-to-Peer Networks, Contracts, Linking the blocks, and Cryptography methods are used in the distributed ledger technology (DLT) . Every record is saved in the distributed ledger has been a unique cryptographic signature which is makes it more secure and safe.

The distributed ledger technology (DLT) can be spread out to the whole our world, and its can be reorganized and held by a different parties in the different places. And the famous example of a distributed ledger technology (DLT) is Google Documents (Docs) , such as when we share it with peoples, it gets a distributed among the more people and didn't not transferred fully.Do not you think that the Blockchain technology might not be this famous or secure & have a safe and transparent transactions systems without this wonderful technology.

If we can write in simple, then we can say that is the data of transactions that is distributed to all the nodes on the networks. And the ledger records it permanently made block, and those is multiple blocks is make a whole blockchain & as 1 block is connected to the other block, which is through out a chain and that chain is also called Nodes.

The distributed ledger technology (DLT) is the most important part of the Blockchain technology, Why do I think because its is have many a good benefits for our Blockchain technology Let's see in the below:

It's Security:As the Blockchain works on the Distributed ledger technology (DLT), the transactions are entered into the database after the cryptographic signature or after the signing the contracts, which is called Hash or hashing.

The Synchronized: We also know about that the distributed ledger technology DLT can be held and reorganized by a different peoples and on different places, so then all the participants can be used the identical copys, and take any editing will be bethened to the participants. So now to make the blockchain technology isaccurate, distributed ledger technology DLT has a technology to be Synchronized.

No have Third Party: The Distributed ledger technology is no have third-party involvement in the database, such as someone can not alter the data and until it is distributed to the someone, so it also makes it a highly transparent as well.

Highly transparent: The Distributed ledger technology is also highly transparent as the information in database can easily be viewed by any one. Ethereum & Ripple are the famous examples of blockchain technology that have used the Distributed ledger technology in short form is called DLT.

There are the alternatives for distributed ledger technology DLT such as a Hashgraph,Lota Tangle and R3 Corda. And they are all the work on the alternative data structures, which is also used for maintaining the ledger. But a honestly, I do not think that is the existence of the Blockchain technology would have been to possible without this wonderful concept or technology.

Even the Bitcoin BTC the most famous cryptocurrency was made using the Distributed Ledger Technology DLT in Blockchain. So that is to takes us to the conclusion that ia no distributed ledger technology DLT means no bitcoin.

But of sure, there are many intelligents peoples on the planet or our earth, maybe someone else is would be have made something else or maybe something are good and it might to get replaced soon. But till now the, I think the distributed ledger technology is the important Technology for the Blockchain technology.

The "Distributed ledger technology (DLT)" has been played a very important role in the Blockchain journey. But here still, there is nothing in the world that is 100% is perfect. So, the things that I think needs a improvement is firstly in the transactions speed, as you know I guess there should be some mechanisms that should be used to minimize the noise & increase the speed of the transactions. There is also the threat of a 51% Attacks, That is the most enduring concern for the users of the Distributed ledger technology DLT. So there is should be some mechanism to save themselves from this attacks or hackeds.

And with this wonderful technology is called distributed ledger technology DLT, the sun has come to dusk and the little introduction about the distributed ledger technology is ended. I hope it was really helpful, and you guys learned a lot from good bye and take care and keep growing with crypto academy.

Regards,
@sitaraindaryas