Distributed Ledgers and Nodes
A distributed ledger is a digital record of information from a transaction that is shared across multiple nodes on a ledger. The ledger's shared network and consistent recording creates higher data quality, consistent identity verification, and unparalleled security.
A node is a cluster of computer that is responsible for representing a party on the ledger. This choreographs workflow between firms without a central controller, which in turn achieves consensus between firms at the level of individual deals, not the system.
Types of Ledgers
Bank Revenue vs. Cost Breakdown
Over the past years, banks have been reporting lower costs and lower revenues. This is an indicator that something drastic must happen in order to restore balance to the banks. Distributed ledger technology is aimed at simplifying the complexity regulators have added to the banking system, which will cut costs and boost revenue.
R3's Distributed Ledger
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