Decentralized Technologies In Real Economy Sectors

~ Some Eleven years ago, Blockchain technologies appeared in this world, and its first plea was cryptocurrencies. @steemist-ntv

Despite the fact that blockchain is only one type of distributed registry technology, it played a key role in the popularization and development of distributed ledger technology (DLT) in all subsequent years.

Distributed Ledger Technology is an electronic database system spread across multiple network nodes or devices. This system does not have a single control center, but all its nodes are interconnected and interact with each other.

The decentralized functioning of such a network is ensured by a node consensus mechanism. For any changes, the consent of most of the nodes within the same network is required, and each update of information is protected by a unique cryptographic signature, which ensures a high level of security and at the same time transparency.

Blockchain-based cryptocurrencies are actively developing and used by millions of users around the world because they solve a number of problems that are inaccessible to traditional finance. The public appreciate the opportunity to carry out financial transactions that are not controlled by the state or any other institutions. Today, decentralized finance is a full-fledged alternative to banks, offering the same capabilities but much cheaper. And the capitalization of the cryptocurrency market reaches almost $500 billion.

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