What is the role of a public ledger in the blockchain technology?

3 answers

• Nov 23, 2021 · 3 years ago
  A public ledger, also known as a blockchain, plays a crucial role in the world of digital currency. It serves as a decentralized and transparent record of all transactions made within the network. This ledger is maintained by a network of computers, known as nodes, which validate and verify each transaction. By storing transaction data in a public ledger, it ensures that all participants have access to the same information, promoting transparency and trust. Additionally, the use of cryptographic techniques ensures the security and immutability of the ledger, making it nearly impossible to tamper with or alter past transactions. Overall, the public ledger in blockchain technology acts as a foundational element that enables secure and transparent digital currency transactions.
  785393
• Nov 23, 2021 · 3 years ago
  Alright, listen up! The public ledger in blockchain technology is like the ultimate record keeper. It's a decentralized and transparent ledger that keeps track of every single transaction made with digital currency. It's maintained by a bunch of computers that work together to validate and verify each transaction. This ledger is open to everyone, so it promotes transparency and trust. And here's the cool part - it's super secure! The use of fancy cryptographic techniques makes it almost impossible to mess with or change past transactions. So, you can rest assured that your digital currency transactions are safe and sound with the public ledger in blockchain technology.
  677226
• Nov 23, 2021 · 3 years ago
  The role of a public ledger in the blockchain technology is to provide a transparent and secure record of digital currency transactions. It acts as a decentralized database that stores all transaction data in a chronological order. This public ledger is accessible to anyone and is maintained by a network of computers called nodes. These nodes validate and verify each transaction, ensuring its accuracy and authenticity. By using cryptographic techniques, the public ledger ensures the security and immutability of the recorded transactions. This transparency and security contribute to the trustworthiness of digital currency transactions, making the public ledger an essential component of blockchain technology.
  716179