A distributed ledger is a database that is shared and synchronized across multiple locations or participants. Instead of being stored in a central location, copies of the ledger exist on different computers or nodes within a network.This technology allows all participating members to access and verify transactions in real-time, enhancing transparency and trust. Each transaction is recorded in a secure manner, making it nearly impossible to alter past records without the consensus of the network.One of the key features of a distributed ledger is its ability to operate without a central authority. This decentralization reduces the risk of fraud and censorship. Changes or updates to the ledger are agreed upon through consensus mechanisms, ensuring that all participants have the same version of the data.Overall, distributed ledgers play a crucial role in enabling secure, transparent, and efficient transactions, providing a foundation for various applications beyond simply recording financial exchanges.