What LEDGERLEAP can do for you
Blockchain is a digital peer-to-peer asset transaction exchange, shared among a distributed network of computers, that can help increase the speed of completion or settlement and improve security. It has the potential to streamline and accelerate your business processes, increase protection against cyber threats and reduce or eliminate the roles of intermediaries.
Blockchain can offer you a compelling option when data that should be stored collectively is fragmented at the source or there is an absence of data security. Some benefits of leveraging this technology include data reconciliation, standardization and harmonization and reduced risks.
Three key features of blockchain are:
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Distributed ledger
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Every participant in the network keeps a copy of all transactions
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Transactions are secured by encryption to prevent tampering
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Consensus algorithm
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No one node or server is responsible for approving transactions, leading to genuinely distributed transaction processing
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Each entry is validated and recorded on all ledgers across the network
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Smart contracts/programmable ledger
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Transactions can be sent with rules attached – small programs that govern when and how transactions are processed.
