Corporate Finance News

Lundi 14 Mars 2016

How transactions are validated on a distributed ledger

George Samman explores the complex, yet interesting world of the distributed ledger, and how transaction validation is handled.

This post will explore how transactions will be validated using distributed ledger technology. It will also provide some use cases around who those transaction validators may be, and what that would look like. First off, transaction validation will be different from the bitcoin blockchain because proof of work will not be used.

The features of a private blockchain network are:

- Peer to peer: transfer assets directly between parties who control the assets.
- No bitcoin currency: networks are built for specific markets and can issue and transfer any asset.
- No mining: transactions are ordered by trusted parties that form a ‘federation’, or the nodes on a distributed ledger.
- Fast: confirmation in seconds.
- Scalable: thousands of transactions per second.

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