Distributed ledger technology (DLT)

Design determines who can read, write and validate records. Participants use agreement rules to coordinate updates and resolve discrepancies.

Participants maintain copies and coordinate updates through a protocol. The design determines who can read, write and validate. Some DLTs use linked blocks; others employ different structures and agreement mechanisms.

DLT describes a record architecture, not a guarantee of decentralization or absolute immutability. In a permissioned implementation, one organization or group may control validators and changes. Usefulness depends on the problem and coordination requirements.