and when blockchains are ledgers and ledgers are not blockchainsThe recent development of blockchain led to many terms that depict its uses in many cases. Intertwining words can sometimes sow confusion between centralized and decentralized ledgers or between distributed and distributed yet centralized systems.So, let us tackle first, ledgersA ledger is simply a record book that keeps all financial transactions of a company. It goes by another name called register when it concerns schools, colleges, and universities. It has always been the economic nerve point of every business transaction since time immemorial such as the recording of payments, contracts, buying or selling dealerships, or property and asset movement. From stone tablets to papyrus, to paper and to computers, record keeping principles have always pretty much been the same. But as of late, ledgers have become the basis of financial infrastructures for a fast and secured way of processing and keeping sensitive transactional data in cryptographical ways.How does a centralized ledger work?A centralized ledger is managed by one person or entity that has control over all the recorded contents of the general ledger related to the assets of the company including liabilities, expenses, revenues, the owner\u2019s equity, and other transactions that involve financial value. The centralized ledger reposits all data coming from the company\u2019s sub-ledgers involving cash management, purchases, and other projects, both financial and non-financial. The traditional manual general ledger can be a bulky book of different accounts consisting of several pages each.Any problem with that?Many dangers lurk within a centralized ledger that incurs damage or ruin to a client. A conventional financial institution with a centralized ledger can either penalize you or take your money without you knowing it because the ledger can be tampered with maliciously by the controlling person or entity. They can even stop the processing\u2026<\/p>","protected":false},"excerpt":{"rendered":"
and when blockchains are ledgers and ledgers are not blockchainsThe recent development of blockchain led to many terms that depict its uses in many cases. Intertwining [\u2026]<\/span><\/p>","protected":false},"author":0,"featured_media":2796,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/afluxcoin.com\/pt\/wp-json\/wp\/v2\/posts\/3022"}],"collection":[{"href":"https:\/\/afluxcoin.com\/pt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/afluxcoin.com\/pt\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/pt\/wp-json\/wp\/v2\/comments?post=3022"}],"version-history":[{"count":0,"href":"https:\/\/afluxcoin.com\/pt\/wp-json\/wp\/v2\/posts\/3022\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/pt\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/afluxcoin.com\/pt\/wp-json\/wp\/v2\/media?parent=3022"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/afluxcoin.com\/pt\/wp-json\/wp\/v2\/categories?post=3022"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/afluxcoin.com\/pt\/wp-json\/wp\/v2\/tags?post=3022"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}