Which technology relies on distributed ledger systems? 🔊
The technology that relies on distributed ledger systems is primarily associated with blockchain technology. Blockchains are decentralized databases that record transactions securely and transparently across multiple locations. This technology underpins cryptocurrencies like Bitcoin and enables secure peer-to-peer transactions without the need for intermediaries. Beyond finance, distributed ledger systems are increasingly applied in various domains, including supply chain management, healthcare, and voting systems, due to their ability to enhance security, transparency, and traceability. Consequently, they are transforming how transactions and records are managed globally.
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