The difference between the blockchain and distributed registry (DLT) on the example of Bitcoin and Ripple 2 октября, 2021

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The concepts of «blockchain» and «Distributed Registry Technology (DLT)» are very often used as synonyms, although in fact it is not so. This material will help to figure out the distinctive features and no longer be confused.

So that the article is not amorphous, you must first make a technical comparison and decide on the concepts.

DLT is a technology storage technology, important features of which is the absence of a central management body, sharing and synchronization of information according to the consensus algorithm and, most importantly, the distribution of this database in different geographic points.

Frequently encountered registry words, book and magazine are the abstract impuration of the concept of «DLT-Table». The DLT table is a technical term that defines the data structure of a two-dimensional array created long before Bitcoin.

Best of all the differences are visible on the examples. Ripple can be attributed to relevant DLT examples, because only two weeks ago, Bank of America filed an application for a computational system based on Ripple Distributed Ledger Technology. Ripple development is excellent to banks and really find practical application, so their technology is worthy to act as a representative of DLT.

The classic examples of the blockchain are Bitcoin and Ethyurium, so they will be representatives from the Blockchal family.

The presented table clearly shows the difference between the DLT and the blockchain, the explanation of which will look further.

The illustration shows that Distributed Ledgers is the basic technology of distributed databases, while the blockchain is only a type of DLT. The main difference is in one important aspect — decentralization.

In the public blockchain, each person can become a miner or set a code to directly participate in data verification, while DLT tables can be private. The blockchain is necessarily open to all in use and control, while DLT structures are necessarily distributed, but not necessarily decentralized.

Best of all about the difference between decentralization and distribution is described in the book of S.Raval «decentralized applications. Technology blockchain in action «, but if there is no reading time, this illustration from the book will help to navigate.

The concept of «private blockchain» is even more misleading. Such a phrase should not exist at all, and in its creation, marketers were to blame, which in 2017-2018 for promoting products on the basis of private distributed registers began to massively add to them the Khaipova word «blockchain». As a result, the concept of the block surrounded into the «public blockchain» in order not to confuse God’s gift with the scrambled eggs.

«In the corporate space, people apply the concept of» private blocks «, although it is rooted incorrectly from a technical point of view. Such products are not at all blockchas, rather, they can be called an improved database management system, «the manager believes

Cheng still gives us tribute to private blocks in terms of technology development: «The increase in productivity compared to the classic blockchain is huge. I would even give these innovations to the rating from 9 to 10, while the public chains of Bitcoin and Etherum blocks can be estimated from 0 to 1.

Unfortunately, the technologies on which Bitcoin and Ethyurium is founded are inconvenient for mass adoption, while private distributed registries in many aspects are better suited for practical implementation. Proof is the list of the most

In the distributed DLT book, the number of those who can become a node, use and access access to it is limited. Management decisions remain behind the only company or group of companies as in

As for the timestamp of adding data, it can be both in the public blockchain and in the usual DLT table, so temporary transaction tags cannot be attributed to differences. As an example, we give CORDA R3 — distributed DLT, in which there is a consensus algorithm and time tags, but there is no block chain.

So, the main difference between the general concept of DLT and the blockchain is decentralization, which is optional in DLT, but mandatory in the public blockchain.

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This entry was posted on Суббота, 2 октября, 2021 at 11:09 пп and is filed under alien-friend, architectonic, bookin, booter, chokein, dendrological, emulsive, fordo, milage, nomen, otiose, prion. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.