DLTs

Distributed ledger technology is the way to call a database that is stored in different locations. This is done because unlike a centralized system it is difficult for data to be deleted.

dlt's are differentiated by the data structure, and the distribution of data storage they handle.

The first DLT was blockchain, however there are several DLTs such as tempo and DAG (directed acyclic graphs)

blockchain being a distributed technology everyone can be part of it, any transaction that is made is stored in the distributed public record book which remains in several nodes, so it is said that blockchain is impossible to hack because to hack it you need to hack all the nodes that are spread around the world.

for example any change or any attack on any node will remain the change in the record of that node and that record will be different from the others so it will be easy to notice and correct it. as the distributed public ledger will be taken real if it is equal to the one in the largest number of nodes. Blockchain is a technology and DLTs is a set of technologies

blockchain can be used in several ways

Currency

Blockchain can be used in several ways, one of them are cryptocurrencies that are intended as a currency to replace money. They can be used to exchange goods. In a cryptocurrency there is no entity that regulates the value of the currency as the registration of transactions, as there is with legal money. In a cryptocurrency, security and, so to speak, privacy are paramount. Security, since all transactions are in a public registry but with private addresses (i.e. all transactions are public but it is very difficult to know from whom they come or to whom they are directed).

Bitcoin (BTC) Bitcoin was created by Satoshi Nakamoto in 2009. To this day it remains a mystery who Satoshi is.

Binance Coin (BNB) BNB is the cryptocurrency on which the Binance ecosystem is built. Being one of the most famous utility tokens worldwide

Litecoin (LTC) Litecoin is practically the same as bitcoin in its technical aspect. It was intended to be an alternative to bitcoin for low-value transfers, and each litecoin is divided into 100,000,000 smaller units, defined by eight decimal places.

Private Currency

As with all transactions in the previous category, they are stored in a public ledger and can be viewed by anyone. Other privacy-focused cryptoassets were made such as :

Social

blockchain is not always thought in currencies for example there are some cryptoassets that are thought in social networks. That is to say, to remunerate in some way a social network

Some of these are:

Dev

there are other cryptoassets that specialize in development so that an application can be built on their blockchain Some of these are:

Storage

you can even find cryptoassets focused on blockchain-based cloud storage.

IOT

There are also cryptoassets based on blockchain, which aim to securely enable the exchange of information and value in the Internet of Things.

Tokens and cryptocurrencies are often used as synonyms. But this is so. Here are some of the differences and characteristics

Cryptocurrency

  • Has its own Blockchain
  • Has its own mining system
  • Has a specific function

Token

  • Any digitized asset
  • Is a smart contract
  • Works on a blockchain