A ledger in the context of blockchain technology is a digital record-keeping system that tracks all transactions and balances across the network. Unlike traditional ledgers maintained by central authorities, a blockchain ledger is decentralized and distributed across multiple nodes, ensuring transparency, security, and immutability. Every transaction is recorded in blocks, which are then linked together in chronological order to form the blockchain. This structure allows all participants to verify and audit transactions independently, reducing the risk of fraud and errors. The decentralized nature of a blockchain ledger ensures that no single entity has control over the entire ledger, making it a trustworthy and resilient system for recording and verifying financial transactions, asset transfers, and other data exchanges.
