Distributed journal technology (DLT) enables different members to access and promote a single, tamper-proof and clear record with the state of an network. This eliminates the advantages of one central authority or perhaps third-party mediator, and can present security, visibility, immutability, and traceability to any process that combines it.

DLT uses a process called consensus to validate and update data distributed throughout a large network of computers operated simply by individuals or businesses (called nodes). Each node retains a unique copy from the ledger, which can be constantly up-to-date in an auto, replicated manner. Nodes communicate transaction info to all additional nodes in the network, and a procedure called a chat protocol allows nodes to distribute and confirm the same data simultaneously.

A blockchain is the most reputed example of a DLT, nevertheless there are many others, including Holochain and Tempo. Each of these systems has its own method to create a tamper-proof database, but they all apply consensus as the basis for maintaining an identical, latest version of the ledger.

Distributed ledgers can reduce or even eradicate delays and errors that occur when multiple persons are involved in a transaction, particularly in complex, interconnected business processes such as financial, supply string management, health-related and insurance. They also offer an excellent tool for the purpose of demonstrating ownership of assets, since records inside the ledger are permanent and is trusted to convey truthful info. For these reasons, DLT see will be used in a range of applications.