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Mining industry<\/li>\n\n\n\n

Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Data controls<\/li>\n\n\n\n

Mining industry<\/li>\n\n\n\n

Supply chain management and delivery<\/li>\n\n\n\n

Data controls<\/li>\n\n\n\n

Mining industry<\/li>\n\n\n\n

Music and entertainment<\/li>\n\n\n\n

Supply chain management and delivery<\/li>\n\n\n\n

Data controls<\/li>\n\n\n\n

Mining industry<\/li>\n\n\n\n

Farming and agriculture<\/li>\n\n\n\n

Music and entertainment<\/li>\n\n\n\n

Supply chain management and delivery<\/li>\n\n\n\n

Data controls<\/li>\n\n\n\n

Mining industry<\/li>\n\n\n\n

Security and cyber defense<\/li>\n\n\n\n

Farming and agriculture<\/li>\n\n\n\n

Music and entertainment<\/li>\n\n\n\n

Supply chain management and delivery<\/li>\n\n\n\n

Data controls<\/li>\n\n\n\n

Mining industry<\/li>\n\n\n\n

Government agencies<\/li>\n\n\n\n

Security and cyber defense<\/li>\n\n\n\n

Farming and agriculture<\/li>\n\n\n\n

Music and entertainment<\/li>\n\n\n\n

Supply chain management and delivery<\/li>\n\n\n\n

Data controls<\/li>\n\n\n\n

Mining industry<\/li>\n\n\n\n

Financial services<\/li>\n\n\n\n

Government agencies<\/li>\n\n\n\n

Security and cyber defense<\/li>\n\n\n\n

Farming and agriculture<\/li>\n\n\n\n

Music and entertainment<\/li>\n\n\n\n

Supply chain management and delivery<\/li>\n\n\n\n

Data controls<\/li>\n\n\n\n

Mining industry<\/li>\n\n\n\n

Central banks and financial institutions<\/a><\/li>\n\n\n\n

Financial services<\/li>\n\n\n\n

Government agencies<\/li>\n\n\n\n

Security and cyber defense<\/li>\n\n\n\n

Farming and agriculture<\/li>\n\n\n\n

Music and entertainment<\/li>\n\n\n\n

Supply chain management and delivery<\/li>\n\n\n\n

Data controls<\/li>\n\n\n\n

Mining industry<\/li>\n\n\n\n

Central banks and financial institutions<\/a><\/li>\n\n\n\n
Financial services<\/li>\n\n\n\n
Government agencies<\/li>\n\n\n\n
Security and cyber defense<\/li>\n\n\n\n
Farming and agriculture<\/li>\n\n\n\n
Music and entertainment<\/li>\n\n\n\n
Supply chain management and delivery<\/li>\n\n\n\n
Data controls<\/li>\n\n\n\n
Mining industry<\/li>\n\n\n\n
Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

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\n
The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
- Central banks and financial institutions<\/a><\/li>\n\n\n\n
- Financial services<\/li>\n\n\n\n
- Government agencies<\/li>\n\n\n\n
- Security and cyber defense<\/li>\n\n\n\n
- Farming and agriculture<\/li>\n\n\n\n
- Music and entertainment<\/li>\n\n\n\n
- Supply chain management and delivery<\/li>\n\n\n\n
- Data controls<\/li>\n\n\n\n
- Mining industry<\/li>\n\n\n\n
- Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
  
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  Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents
  
  December 19, 2024
  
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  November 24, 2024
  
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  December 3, 2024
  
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  Follow The Distributed
  
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  \n
  Centralized Use Cases Of DLT<\/h3>\n\n\n\n
  The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
  - Central banks and financial institutions<\/a><\/li>\n\n\n\n
  - Financial services<\/li>\n\n\n\n
  - Government agencies<\/li>\n\n\n\n
  - Security and cyber defense<\/li>\n\n\n\n
  - Farming and agriculture<\/li>\n\n\n\n
  - Music and entertainment<\/li>\n\n\n\n
  - Supply chain management and delivery<\/li>\n\n\n\n
  - Data controls<\/li>\n\n\n\n
  - Mining industry<\/li>\n\n\n\n
  - Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    December 3, 2024
    
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    Follow The Distributed
    
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    \n
  - Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    December 3, 2024
    
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    Follow The Distributed
    
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    \n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    Follow The Distributed
    
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    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    November 24, 2024
    
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    December 3, 2024
    
    Subscribe To Our Newsletter
    
    By subscribing, you agree with our privacy and terms.
    
    Type your email here
    
    Follow The Distributed
    
    Twitter Instagram Youtube LinkedIn Facebook RSS
    
    ADVERTISEMENT
    
    \n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    Subscribe To Our Newsletter
    
    By subscribing, you agree with our privacy and terms.
    
    Type your email here
    
    Follow The Distributed
    
    Twitter Instagram Youtube LinkedIn Facebook RSS
    
    ADVERTISEMENT
    
    \n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    November 24, 2024
    
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    December 3, 2024
    
    Subscribe To Our Newsletter
    
    By subscribing, you agree with our privacy and terms.
    
    Type your email here
    
    Follow The Distributed
    
    Twitter Instagram Youtube LinkedIn Facebook RSS
    
    ADVERTISEMENT
    
    \n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    Follow The Distributed
    
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    \n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    Follow The Distributed
    
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    \n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    Follow The Distributed
    
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    ADVERTISEMENT
    
    \n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    Follow The Distributed
    
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    \n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    By subscribing, you agree with our privacy and terms.
    
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    Follow The Distributed
    
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    ADVERTISEMENT
    
    \n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    By subscribing, you agree with our privacy and terms.
    
    Type your email here
    
    Follow The Distributed
    
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    ADVERTISEMENT
    
    \n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    By subscribing, you agree with our privacy and terms.
    
    Type your email here
    
    Follow The Distributed
    
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    ADVERTISEMENT
    
    \n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    By subscribing, you agree with our privacy and terms.
    
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    Follow The Distributed
    
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    \n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    By subscribing, you agree with our privacy and terms.
    
    Type your email here
    
    Follow The Distributed
    
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    ADVERTISEMENT
    
    \n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    By subscribing, you agree with our privacy and terms.
    
    Type your email here
    
    Follow The Distributed
    
    Twitter Instagram Youtube LinkedIn Facebook RSS
    
    ADVERTISEMENT
    
    \n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    Subscribe To Our Newsletter
    
    By subscribing, you agree with our privacy and terms.
    
    Type your email here
    
    Follow The Distributed
    
    Twitter Instagram Youtube LinkedIn Facebook RSS
    
    ADVERTISEMENT
    
    \n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    Subscribe To Our Newsletter
    
    By subscribing, you agree with our privacy and terms.
    
    Type your email here
    
    Follow The Distributed
    
    Twitter Instagram Youtube LinkedIn Facebook RSS
    
    ADVERTISEMENT
    
    \n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    \n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    Follow The Distributed
    
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    \n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    Subscribe To Our Newsletter
    
    By subscribing, you agree with our privacy and terms.
    
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    Follow The Distributed
    
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    \n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    December 3, 2024
    
    Subscribe To Our Newsletter
    
    By subscribing, you agree with our privacy and terms.
    
    Type your email here
    
    Follow The Distributed
    
    Twitter Instagram Youtube LinkedIn Facebook RSS
    
    ADVERTISEMENT
    
    \n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    \n
    Ledger Nano X's have built-in Bluetooth, which can be enabled or disabled as the user pleases. Bluetooth connectivity is excellent for those who travel often. Still, there is often scrutiny around the technology as it may pose a potential threat to users with the potential of an interception by a hacker. In turn, Bluetooth is encrypted end-to-end and poses no additional security threats.<\/p>\n\n\n\n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    Follow The Distributed
    
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    \n
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/h3>\n\n\n\n
    Ledger Nano X's have built-in Bluetooth, which can be enabled or disabled as the user pleases. Bluetooth connectivity is excellent for those who travel often. Still, there is often scrutiny around the technology as it may pose a potential threat to users with the potential of an interception by a hacker. In turn, Bluetooth is encrypted end-to-end and poses no additional security threats.<\/p>\n\n\n\n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    Ledger Nano X 2023 Review – A Remarkable, Secure Hardware Wallet
    
    March 26, 2023
    
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    By subscribing, you agree with our privacy and terms.
    
    Type your email here
    
    Follow The Distributed
    
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    ADVERTISEMENT
    
    \n
    $\"Example$
    An example 24-word recovery phrase. Source: Unchained Capital<\/figcaption><\/figure>\n\n\n\n
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/h3>\n\n\n\n
    Ledger Nano X's have built-in Bluetooth, which can be enabled or disabled as the user pleases. Bluetooth connectivity is excellent for those who travel often. Still, there is often scrutiny around the technology as it may pose a potential threat to users with the potential of an interception by a hacker. In turn, Bluetooth is encrypted end-to-end and poses no additional security threats.<\/p>\n\n\n\n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    \n
    This is because the assets are stored on the blockchain, and if you can verify that the assets are yours, you should control what happens with them - so you can restore them!<\/p>\n\n\n\n
    $\"Example$
    An example 24-word recovery phrase. Source: Unchained Capital<\/figcaption><\/figure>\n\n\n\n
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/h3>\n\n\n\n
    Ledger Nano X's have built-in Bluetooth, which can be enabled or disabled as the user pleases. Bluetooth connectivity is excellent for those who travel often. Still, there is often scrutiny around the technology as it may pose a potential threat to users with the potential of an interception by a hacker. In turn, Bluetooth is encrypted end-to-end and poses no additional security threats.<\/p>\n\n\n\n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    By subscribing, you agree with our privacy and terms.
    
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    Follow The Distributed
    
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    \n
    Breaking your Ledger or losing the device doesn't bring the coins into the void along with the device. When you set up your wallet, you should've made multiple copies of your secret phrase - this phrase allows you to purchase another wallet and restore your account.<\/p>\n\n\n\n
    This is because the assets are stored on the blockchain, and if you can verify that the assets are yours, you should control what happens with them - so you can restore them!<\/p>\n\n\n\n
    $\"Example$
    An example 24-word recovery phrase. Source: Unchained Capital<\/figcaption><\/figure>\n\n\n\n
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/h3>\n\n\n\n
    Ledger Nano X's have built-in Bluetooth, which can be enabled or disabled as the user pleases. Bluetooth connectivity is excellent for those who travel often. Still, there is often scrutiny around the technology as it may pose a potential threat to users with the potential of an interception by a hacker. In turn, Bluetooth is encrypted end-to-end and poses no additional security threats.<\/p>\n\n\n\n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    March 26, 2023
    
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    Subscribe To Our Newsletter
    
    By subscribing, you agree with our privacy and terms.
    
    Type your email here
    
    Follow The Distributed
    
    Twitter Instagram Youtube LinkedIn Facebook RSS
    
    ADVERTISEMENT
    
    \n
    What Happens If You Break Or Lose Your Ledger?<\/h3>\n\n\n\n
    Breaking your Ledger or losing the device doesn't bring the coins into the void along with the device. When you set up your wallet, you should've made multiple copies of your secret phrase - this phrase allows you to purchase another wallet and restore your account.<\/p>\n\n\n\n
    This is because the assets are stored on the blockchain, and if you can verify that the assets are yours, you should control what happens with them - so you can restore them!<\/p>\n\n\n\n
    $\"Example$
    An example 24-word recovery phrase. Source: Unchained Capital<\/figcaption><\/figure>\n\n\n\n
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/h3>\n\n\n\n
    Ledger Nano X's have built-in Bluetooth, which can be enabled or disabled as the user pleases. Bluetooth connectivity is excellent for those who travel often. Still, there is often scrutiny around the technology as it may pose a potential threat to users with the potential of an interception by a hacker. In turn, Bluetooth is encrypted end-to-end and poses no additional security threats.<\/p>\n\n\n\n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    \n
    Ledger Nano X FAQs<\/h2>\n\n\n\n
    What Happens If You Break Or Lose Your Ledger?<\/h3>\n\n\n\n
    Breaking your Ledger or losing the device doesn't bring the coins into the void along with the device. When you set up your wallet, you should've made multiple copies of your secret phrase - this phrase allows you to purchase another wallet and restore your account.<\/p>\n\n\n\n
    This is because the assets are stored on the blockchain, and if you can verify that the assets are yours, you should control what happens with them - so you can restore them!<\/p>\n\n\n\n
    $\"Example$
    An example 24-word recovery phrase. Source: Unchained Capital<\/figcaption><\/figure>\n\n\n\n
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/h3>\n\n\n\n
    Ledger Nano X's have built-in Bluetooth, which can be enabled or disabled as the user pleases. Bluetooth connectivity is excellent for those who travel often. Still, there is often scrutiny around the technology as it may pose a potential threat to users with the potential of an interception by a hacker. In turn, Bluetooth is encrypted end-to-end and poses no additional security threats.<\/p>\n\n\n\n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    Follow The Distributed
    
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    \n
    $\"Ledger$
    Ledger Nano X Security Features. Source: Ledger<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X FAQs<\/h2>\n\n\n\n
    What Happens If You Break Or Lose Your Ledger?<\/h3>\n\n\n\n
    Breaking your Ledger or losing the device doesn't bring the coins into the void along with the device. When you set up your wallet, you should've made multiple copies of your secret phrase - this phrase allows you to purchase another wallet and restore your account.<\/p>\n\n\n\n
    This is because the assets are stored on the blockchain, and if you can verify that the assets are yours, you should control what happens with them - so you can restore them!<\/p>\n\n\n\n
    $\"Example$
    An example 24-word recovery phrase. Source: Unchained Capital<\/figcaption><\/figure>\n\n\n\n
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/h3>\n\n\n\n
    Ledger Nano X's have built-in Bluetooth, which can be enabled or disabled as the user pleases. Bluetooth connectivity is excellent for those who travel often. Still, there is often scrutiny around the technology as it may pose a potential threat to users with the potential of an interception by a hacker. In turn, Bluetooth is encrypted end-to-end and poses no additional security threats.<\/p>\n\n\n\n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    March 26, 2023
    
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    November 24, 2024
    
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    December 3, 2024
    
    Subscribe To Our Newsletter
    
    By subscribing, you agree with our privacy and terms.
    
    Type your email here
    
    Follow The Distributed
    
    Twitter Instagram Youtube LinkedIn Facebook RSS
    
    ADVERTISEMENT
    
    \n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    $\"Ledger$
    Ledger Nano X Security Features. Source: Ledger<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X FAQs<\/h2>\n\n\n\n
    What Happens If You Break Or Lose Your Ledger?<\/h3>\n\n\n\n
    Breaking your Ledger or losing the device doesn't bring the coins into the void along with the device. When you set up your wallet, you should've made multiple copies of your secret phrase - this phrase allows you to purchase another wallet and restore your account.<\/p>\n\n\n\n
    This is because the assets are stored on the blockchain, and if you can verify that the assets are yours, you should control what happens with them - so you can restore them!<\/p>\n\n\n\n
    $\"Example$
    An example 24-word recovery phrase. Source: Unchained Capital<\/figcaption><\/figure>\n\n\n\n
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/h3>\n\n\n\n
    Ledger Nano X's have built-in Bluetooth, which can be enabled or disabled as the user pleases. Bluetooth connectivity is excellent for those who travel often. Still, there is often scrutiny around the technology as it may pose a potential threat to users with the potential of an interception by a hacker. In turn, Bluetooth is encrypted end-to-end and poses no additional security threats.<\/p>\n\n\n\n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    \n
    The Ledger Nano X also requires a 6-digit pin code to get inside the device, which is needed every time the wallet turns off and back on or if the wallet goes to sleep. The Ledger Nano X also contains a secure element (SE) requiring consent for any action taken with the device. This is confirmed by simultaneously pressing the two buttons on either side of the device.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    $\"Ledger$
    Ledger Nano X Security Features. Source: Ledger<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X FAQs<\/h2>\n\n\n\n
    What Happens If You Break Or Lose Your Ledger?<\/h3>\n\n\n\n
    Breaking your Ledger or losing the device doesn't bring the coins into the void along with the device. When you set up your wallet, you should've made multiple copies of your secret phrase - this phrase allows you to purchase another wallet and restore your account.<\/p>\n\n\n\n
    This is because the assets are stored on the blockchain, and if you can verify that the assets are yours, you should control what happens with them - so you can restore them!<\/p>\n\n\n\n
    $\"Example$
    An example 24-word recovery phrase. Source: Unchained Capital<\/figcaption><\/figure>\n\n\n\n
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/h3>\n\n\n\n
    Ledger Nano X's have built-in Bluetooth, which can be enabled or disabled as the user pleases. Bluetooth connectivity is excellent for those who travel often. Still, there is often scrutiny around the technology as it may pose a potential threat to users with the potential of an interception by a hacker. In turn, Bluetooth is encrypted end-to-end and poses no additional security threats.<\/p>\n\n\n\n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    March 26, 2023
    
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    December 3, 2024
    
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    By subscribing, you agree with our privacy and terms.
    
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    Follow The Distributed
    
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    \n
    All hardware wallets, not just Ledger devices, are secured using a seed phrase. This 24-word recovery phrase is given to you when setting up the actual device; make sure to take note of it on all 3 of your recovery sheets given to you with the Ledger Nano X. These random English words allow anyone to access the device, not just yourself, so it is vital to protect your recovery phrase and never share it with anyone.<\/p>\n\n\n\n
    The Ledger Nano X also requires a 6-digit pin code to get inside the device, which is needed every time the wallet turns off and back on or if the wallet goes to sleep. The Ledger Nano X also contains a secure element (SE) requiring consent for any action taken with the device. This is confirmed by simultaneously pressing the two buttons on either side of the device.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    $\"Ledger$
    Ledger Nano X Security Features. Source: Ledger<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X FAQs<\/h2>\n\n\n\n
    What Happens If You Break Or Lose Your Ledger?<\/h3>\n\n\n\n
    Breaking your Ledger or losing the device doesn't bring the coins into the void along with the device. When you set up your wallet, you should've made multiple copies of your secret phrase - this phrase allows you to purchase another wallet and restore your account.<\/p>\n\n\n\n
    This is because the assets are stored on the blockchain, and if you can verify that the assets are yours, you should control what happens with them - so you can restore them!<\/p>\n\n\n\n
    $\"Example$
    An example 24-word recovery phrase. Source: Unchained Capital<\/figcaption><\/figure>\n\n\n\n
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/h3>\n\n\n\n
    Ledger Nano X's have built-in Bluetooth, which can be enabled or disabled as the user pleases. Bluetooth connectivity is excellent for those who travel often. Still, there is often scrutiny around the technology as it may pose a potential threat to users with the potential of an interception by a hacker. In turn, Bluetooth is encrypted end-to-end and poses no additional security threats.<\/p>\n\n\n\n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    Wallets
    
    Ledger Nano X 2023 Review – A Remarkable, Secure Hardware Wallet
    
    March 26, 2023
    
    Artificial Intelligence
    
    Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents
    
    December 19, 2024
    
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    November 24, 2024
    
    Artificial Intelligence
    
    Amazon Commits $4 Billion Investment In Anthropic To Power The Generation Of AI Development
    
    December 3, 2024
    
    Subscribe To Our Newsletter
    
    By subscribing, you agree with our privacy and terms.
    
    Type your email here
    
    Follow The Distributed
    
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    ADVERTISEMENT
    
    \n
    Ledgers are secured with a custom-built OS called BOLOS and a CC EAL5+ Certified Secure Chip. The French national cybersecurity agency, ANSSI, has also audited Ledger. There has not yet been a successful hacking attempt against the Ledger software, although in 2020, there was a data leak where personal information was retrieved, such as emails, postal addresses, and names.<\/p>\n\n\n\n
    All hardware wallets, not just Ledger devices, are secured using a seed phrase. This 24-word recovery phrase is given to you when setting up the actual device; make sure to take note of it on all 3 of your recovery sheets given to you with the Ledger Nano X. These random English words allow anyone to access the device, not just yourself, so it is vital to protect your recovery phrase and never share it with anyone.<\/p>\n\n\n\n
    The Ledger Nano X also requires a 6-digit pin code to get inside the device, which is needed every time the wallet turns off and back on or if the wallet goes to sleep. The Ledger Nano X also contains a secure element (SE) requiring consent for any action taken with the device. This is confirmed by simultaneously pressing the two buttons on either side of the device.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    $\"Ledger$
    Ledger Nano X Security Features. Source: Ledger<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X FAQs<\/h2>\n\n\n\n
    What Happens If You Break Or Lose Your Ledger?<\/h3>\n\n\n\n
    Breaking your Ledger or losing the device doesn't bring the coins into the void along with the device. When you set up your wallet, you should've made multiple copies of your secret phrase - this phrase allows you to purchase another wallet and restore your account.<\/p>\n\n\n\n
    This is because the assets are stored on the blockchain, and if you can verify that the assets are yours, you should control what happens with them - so you can restore them!<\/p>\n\n\n\n
    $\"Example$
    An example 24-word recovery phrase. Source: Unchained Capital<\/figcaption><\/figure>\n\n\n\n
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/h3>\n\n\n\n
    Ledger Nano X's have built-in Bluetooth, which can be enabled or disabled as the user pleases. Bluetooth connectivity is excellent for those who travel often. Still, there is often scrutiny around the technology as it may pose a potential threat to users with the potential of an interception by a hacker. In turn, Bluetooth is encrypted end-to-end and poses no additional security threats.<\/p>\n\n\n\n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    \n
    Ledger Nano X: Is It Safe And The Security Features<\/h2>\n\n\n\n
    Ledgers are secured with a custom-built OS called BOLOS and a CC EAL5+ Certified Secure Chip. The French national cybersecurity agency, ANSSI, has also audited Ledger. There has not yet been a successful hacking attempt against the Ledger software, although in 2020, there was a data leak where personal information was retrieved, such as emails, postal addresses, and names.<\/p>\n\n\n\n
    All hardware wallets, not just Ledger devices, are secured using a seed phrase. This 24-word recovery phrase is given to you when setting up the actual device; make sure to take note of it on all 3 of your recovery sheets given to you with the Ledger Nano X. These random English words allow anyone to access the device, not just yourself, so it is vital to protect your recovery phrase and never share it with anyone.<\/p>\n\n\n\n
    The Ledger Nano X also requires a 6-digit pin code to get inside the device, which is needed every time the wallet turns off and back on or if the wallet goes to sleep. The Ledger Nano X also contains a secure element (SE) requiring consent for any action taken with the device. This is confirmed by simultaneously pressing the two buttons on either side of the device.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    $\"Ledger$
    Ledger Nano X Security Features. Source: Ledger<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X FAQs<\/h2>\n\n\n\n
    What Happens If You Break Or Lose Your Ledger?<\/h3>\n\n\n\n
    Breaking your Ledger or losing the device doesn't bring the coins into the void along with the device. When you set up your wallet, you should've made multiple copies of your secret phrase - this phrase allows you to purchase another wallet and restore your account.<\/p>\n\n\n\n
    This is because the assets are stored on the blockchain, and if you can verify that the assets are yours, you should control what happens with them - so you can restore them!<\/p>\n\n\n\n
    $\"Example$
    An example 24-word recovery phrase. Source: Unchained Capital<\/figcaption><\/figure>\n\n\n\n
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/h3>\n\n\n\n
    Ledger Nano X's have built-in Bluetooth, which can be enabled or disabled as the user pleases. Bluetooth connectivity is excellent for those who travel often. Still, there is often scrutiny around the technology as it may pose a potential threat to users with the potential of an interception by a hacker. In turn, Bluetooth is encrypted end-to-end and poses no additional security threats.<\/p>\n\n\n\n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    December 3, 2024
    
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    By subscribing, you agree with our privacy and terms.
    
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    Follow The Distributed
    
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    \n
    The Ledger Nano X can also connect to various wallets and platforms to enhance the user experience. Such connections include; MyEtherWallet, Metamask, Electrum, and 1inch.<\/p>\n\n\n\n
    Ledger Nano X: Is It Safe And The Security Features<\/h2>\n\n\n\n
    Ledgers are secured with a custom-built OS called BOLOS and a CC EAL5+ Certified Secure Chip. The French national cybersecurity agency, ANSSI, has also audited Ledger. There has not yet been a successful hacking attempt against the Ledger software, although in 2020, there was a data leak where personal information was retrieved, such as emails, postal addresses, and names.<\/p>\n\n\n\n
    All hardware wallets, not just Ledger devices, are secured using a seed phrase. This 24-word recovery phrase is given to you when setting up the actual device; make sure to take note of it on all 3 of your recovery sheets given to you with the Ledger Nano X. These random English words allow anyone to access the device, not just yourself, so it is vital to protect your recovery phrase and never share it with anyone.<\/p>\n\n\n\n
    The Ledger Nano X also requires a 6-digit pin code to get inside the device, which is needed every time the wallet turns off and back on or if the wallet goes to sleep. The Ledger Nano X also contains a secure element (SE) requiring consent for any action taken with the device. This is confirmed by simultaneously pressing the two buttons on either side of the device.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    $\"Ledger$
    Ledger Nano X Security Features. Source: Ledger<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X FAQs<\/h2>\n\n\n\n
    What Happens If You Break Or Lose Your Ledger?<\/h3>\n\n\n\n
    Breaking your Ledger or losing the device doesn't bring the coins into the void along with the device. When you set up your wallet, you should've made multiple copies of your secret phrase - this phrase allows you to purchase another wallet and restore your account.<\/p>\n\n\n\n
    This is because the assets are stored on the blockchain, and if you can verify that the assets are yours, you should control what happens with them - so you can restore them!<\/p>\n\n\n\n
    $\"Example$
    An example 24-word recovery phrase. Source: Unchained Capital<\/figcaption><\/figure>\n\n\n\n
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/h3>\n\n\n\n
    Ledger Nano X's have built-in Bluetooth, which can be enabled or disabled as the user pleases. Bluetooth connectivity is excellent for those who travel often. Still, there is often scrutiny around the technology as it may pose a potential threat to users with the potential of an interception by a hacker. In turn, Bluetooth is encrypted end-to-end and poses no additional security threats.<\/p>\n\n\n\n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    Ledger Nano X 2023 Review – A Remarkable, Secure Hardware Wallet
    
    March 26, 2023
    
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    December 19, 2024
    
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    November 24, 2024
    
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    December 3, 2024
    
    Subscribe To Our Newsletter
    
    By subscribing, you agree with our privacy and terms.
    
    Type your email here
    
    Follow The Distributed
    
    Twitter Instagram Youtube LinkedIn Facebook RSS
    
    ADVERTISEMENT
    
    \n
    Ledger Live supports over 5,500 different cryptocurrencies, including Bitcoin, Ethereum, and Binance Coin. The Ledger Nano X can also support up to 100 various applications (cryptocurrencies) simultaneously.<\/p>\n\n\n\n
    The Ledger Nano X can also connect to various wallets and platforms to enhance the user experience. Such connections include; MyEtherWallet, Metamask, Electrum, and 1inch.<\/p>\n\n\n\n
    Ledger Nano X: Is It Safe And The Security Features<\/h2>\n\n\n\n
    Ledgers are secured with a custom-built OS called BOLOS and a CC EAL5+ Certified Secure Chip. The French national cybersecurity agency, ANSSI, has also audited Ledger. There has not yet been a successful hacking attempt against the Ledger software, although in 2020, there was a data leak where personal information was retrieved, such as emails, postal addresses, and names.<\/p>\n\n\n\n
    All hardware wallets, not just Ledger devices, are secured using a seed phrase. This 24-word recovery phrase is given to you when setting up the actual device; make sure to take note of it on all 3 of your recovery sheets given to you with the Ledger Nano X. These random English words allow anyone to access the device, not just yourself, so it is vital to protect your recovery phrase and never share it with anyone.<\/p>\n\n\n\n
    The Ledger Nano X also requires a 6-digit pin code to get inside the device, which is needed every time the wallet turns off and back on or if the wallet goes to sleep. The Ledger Nano X also contains a secure element (SE) requiring consent for any action taken with the device. This is confirmed by simultaneously pressing the two buttons on either side of the device.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    $\"Ledger$
    Ledger Nano X Security Features. Source: Ledger<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X FAQs<\/h2>\n\n\n\n
    What Happens If You Break Or Lose Your Ledger?<\/h3>\n\n\n\n
    Breaking your Ledger or losing the device doesn't bring the coins into the void along with the device. When you set up your wallet, you should've made multiple copies of your secret phrase - this phrase allows you to purchase another wallet and restore your account.<\/p>\n\n\n\n
    This is because the assets are stored on the blockchain, and if you can verify that the assets are yours, you should control what happens with them - so you can restore them!<\/p>\n\n\n\n
    $\"Example$
    An example 24-word recovery phrase. Source: Unchained Capital<\/figcaption><\/figure>\n\n\n\n
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/h3>\n\n\n\n
    Ledger Nano X's have built-in Bluetooth, which can be enabled or disabled as the user pleases. Bluetooth connectivity is excellent for those who travel often. Still, there is often scrutiny around the technology as it may pose a potential threat to users with the potential of an interception by a hacker. In turn, Bluetooth is encrypted end-to-end and poses no additional security threats.<\/p>\n\n\n\n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    Ledger Nano X 2023 Review – A Remarkable, Secure Hardware Wallet
    
    March 26, 2023
    
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    \n
    Ledger Nano X: Supported Coins And Connectivity<\/h2>\n\n\n\n
    Ledger Live supports over 5,500 different cryptocurrencies, including Bitcoin, Ethereum, and Binance Coin. The Ledger Nano X can also support up to 100 various applications (cryptocurrencies) simultaneously.<\/p>\n\n\n\n
    The Ledger Nano X can also connect to various wallets and platforms to enhance the user experience. Such connections include; MyEtherWallet, Metamask, Electrum, and 1inch.<\/p>\n\n\n\n
    Ledger Nano X: Is It Safe And The Security Features<\/h2>\n\n\n\n
    Ledgers are secured with a custom-built OS called BOLOS and a CC EAL5+ Certified Secure Chip. The French national cybersecurity agency, ANSSI, has also audited Ledger. There has not yet been a successful hacking attempt against the Ledger software, although in 2020, there was a data leak where personal information was retrieved, such as emails, postal addresses, and names.<\/p>\n\n\n\n
    All hardware wallets, not just Ledger devices, are secured using a seed phrase. This 24-word recovery phrase is given to you when setting up the actual device; make sure to take note of it on all 3 of your recovery sheets given to you with the Ledger Nano X. These random English words allow anyone to access the device, not just yourself, so it is vital to protect your recovery phrase and never share it with anyone.<\/p>\n\n\n\n
    The Ledger Nano X also requires a 6-digit pin code to get inside the device, which is needed every time the wallet turns off and back on or if the wallet goes to sleep. The Ledger Nano X also contains a secure element (SE) requiring consent for any action taken with the device. This is confirmed by simultaneously pressing the two buttons on either side of the device.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    $\"Ledger$
    Ledger Nano X Security Features. Source: Ledger<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X FAQs<\/h2>\n\n\n\n
    What Happens If You Break Or Lose Your Ledger?<\/h3>\n\n\n\n
    Breaking your Ledger or losing the device doesn't bring the coins into the void along with the device. When you set up your wallet, you should've made multiple copies of your secret phrase - this phrase allows you to purchase another wallet and restore your account.<\/p>\n\n\n\n
    This is because the assets are stored on the blockchain, and if you can verify that the assets are yours, you should control what happens with them - so you can restore them!<\/p>\n\n\n\n
    $\"Example$
    An example 24-word recovery phrase. Source: Unchained Capital<\/figcaption><\/figure>\n\n\n\n
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/h3>\n\n\n\n
    Ledger Nano X's have built-in Bluetooth, which can be enabled or disabled as the user pleases. Bluetooth connectivity is excellent for those who travel often. Still, there is often scrutiny around the technology as it may pose a potential threat to users with the potential of an interception by a hacker. In turn, Bluetooth is encrypted end-to-end and poses no additional security threats.<\/p>\n\n\n\n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
    Most Read
    
    Wallets
    
    Ledger Nano X 2023 Review – A Remarkable, Secure Hardware Wallet
    
    March 26, 2023
    
    Artificial Intelligence
    
    Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents
    
    December 19, 2024
    
    Artificial Intelligence
    
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    August 15, 2024
    
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    Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry
    
    November 24, 2024
    
    Artificial Intelligence
    
    Amazon Commits $4 Billion Investment In Anthropic To Power The Generation Of AI Development
    
    December 3, 2024
    
    Subscribe To Our Newsletter
    
    By subscribing, you agree with our privacy and terms.
    
    Type your email here
    
    Follow The Distributed
    
    Twitter Instagram Youtube LinkedIn Facebook RSS
    
    ADVERTISEMENT
    
    \n
    $\"\"$
    Ledger Live Portfolio. Source: CoinZodiaC<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X: Supported Coins And Connectivity<\/h2>\n\n\n\n
    Ledger Live supports over 5,500 different cryptocurrencies, including Bitcoin, Ethereum, and Binance Coin. The Ledger Nano X can also support up to 100 various applications (cryptocurrencies) simultaneously.<\/p>\n\n\n\n
    The Ledger Nano X can also connect to various wallets and platforms to enhance the user experience. Such connections include; MyEtherWallet, Metamask, Electrum, and 1inch.<\/p>\n\n\n\n
    Ledger Nano X: Is It Safe And The Security Features<\/h2>\n\n\n\n
    Ledgers are secured with a custom-built OS called BOLOS and a CC EAL5+ Certified Secure Chip. The French national cybersecurity agency, ANSSI, has also audited Ledger. There has not yet been a successful hacking attempt against the Ledger software, although in 2020, there was a data leak where personal information was retrieved, such as emails, postal addresses, and names.<\/p>\n\n\n\n
    All hardware wallets, not just Ledger devices, are secured using a seed phrase. This 24-word recovery phrase is given to you when setting up the actual device; make sure to take note of it on all 3 of your recovery sheets given to you with the Ledger Nano X. These random English words allow anyone to access the device, not just yourself, so it is vital to protect your recovery phrase and never share it with anyone.<\/p>\n\n\n\n
    The Ledger Nano X also requires a 6-digit pin code to get inside the device, which is needed every time the wallet turns off and back on or if the wallet goes to sleep. The Ledger Nano X also contains a secure element (SE) requiring consent for any action taken with the device. This is confirmed by simultaneously pressing the two buttons on either side of the device.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    $\"Ledger$
    Ledger Nano X Security Features. Source: Ledger<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X FAQs<\/h2>\n\n\n\n
    What Happens If You Break Or Lose Your Ledger?<\/h3>\n\n\n\n
    Breaking your Ledger or losing the device doesn't bring the coins into the void along with the device. When you set up your wallet, you should've made multiple copies of your secret phrase - this phrase allows you to purchase another wallet and restore your account.<\/p>\n\n\n\n
    This is because the assets are stored on the blockchain, and if you can verify that the assets are yours, you should control what happens with them - so you can restore them!<\/p>\n\n\n\n
    $\"Example$
    An example 24-word recovery phrase. Source: Unchained Capital<\/figcaption><\/figure>\n\n\n\n
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/h3>\n\n\n\n
    Ledger Nano X's have built-in Bluetooth, which can be enabled or disabled as the user pleases. Bluetooth connectivity is excellent for those who travel often. Still, there is often scrutiny around the technology as it may pose a potential threat to users with the potential of an interception by a hacker. In turn, Bluetooth is encrypted end-to-end and poses no additional security threats.<\/p>\n\n\n\n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
    Most Read
    
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    Ledger Nano X 2023 Review – A Remarkable, Secure Hardware Wallet
    
    March 26, 2023
    
    Artificial Intelligence
    
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    \n
    Ledger Live connects to all Ledger devices, including the Nano X and Nano S. The functions that the software allows include; checking your account balances, receiving and sending cryptocurrencies and NFTs, deleting, adding, or managing your assets and accounts, buying and selling cryptocurrencies within the device through third-party services, and even staking your various cryptocurrencies (through third parties once again).<\/p>\n\n\n\n
    $\"\"$
    Ledger Live Portfolio. Source: CoinZodiaC<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X: Supported Coins And Connectivity<\/h2>\n\n\n\n
    Ledger Live supports over 5,500 different cryptocurrencies, including Bitcoin, Ethereum, and Binance Coin. The Ledger Nano X can also support up to 100 various applications (cryptocurrencies) simultaneously.<\/p>\n\n\n\n
    The Ledger Nano X can also connect to various wallets and platforms to enhance the user experience. Such connections include; MyEtherWallet, Metamask, Electrum, and 1inch.<\/p>\n\n\n\n
    Ledger Nano X: Is It Safe And The Security Features<\/h2>\n\n\n\n
    Ledgers are secured with a custom-built OS called BOLOS and a CC EAL5+ Certified Secure Chip. The French national cybersecurity agency, ANSSI, has also audited Ledger. There has not yet been a successful hacking attempt against the Ledger software, although in 2020, there was a data leak where personal information was retrieved, such as emails, postal addresses, and names.<\/p>\n\n\n\n
    All hardware wallets, not just Ledger devices, are secured using a seed phrase. This 24-word recovery phrase is given to you when setting up the actual device; make sure to take note of it on all 3 of your recovery sheets given to you with the Ledger Nano X. These random English words allow anyone to access the device, not just yourself, so it is vital to protect your recovery phrase and never share it with anyone.<\/p>\n\n\n\n
    The Ledger Nano X also requires a 6-digit pin code to get inside the device, which is needed every time the wallet turns off and back on or if the wallet goes to sleep. The Ledger Nano X also contains a secure element (SE) requiring consent for any action taken with the device. This is confirmed by simultaneously pressing the two buttons on either side of the device.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    $\"Ledger$
    Ledger Nano X Security Features. Source: Ledger<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X FAQs<\/h2>\n\n\n\n
    What Happens If You Break Or Lose Your Ledger?<\/h3>\n\n\n\n
    Breaking your Ledger or losing the device doesn't bring the coins into the void along with the device. When you set up your wallet, you should've made multiple copies of your secret phrase - this phrase allows you to purchase another wallet and restore your account.<\/p>\n\n\n\n
    This is because the assets are stored on the blockchain, and if you can verify that the assets are yours, you should control what happens with them - so you can restore them!<\/p>\n\n\n\n
    $\"Example$
    An example 24-word recovery phrase. Source: Unchained Capital<\/figcaption><\/figure>\n\n\n\n
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/h3>\n\n\n\n
    Ledger Nano X's have built-in Bluetooth, which can be enabled or disabled as the user pleases. Bluetooth connectivity is excellent for those who travel often. Still, there is often scrutiny around the technology as it may pose a potential threat to users with the potential of an interception by a hacker. In turn, Bluetooth is encrypted end-to-end and poses no additional security threats.<\/p>\n\n\n\n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
    Most Read
    
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    March 26, 2023
    
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    November 24, 2024
    
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    December 3, 2024
    
    Subscribe To Our Newsletter
    
    By subscribing, you agree with our privacy and terms.
    
    Type your email here
    
    Follow The Distributed
    
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    \n
    Ledger Live is the official desktop and mobile app developed by Ledger. It is a simple interface that allows you to manage all your crypto assets in one place. Ledger Live is available for Windows, macOS, Linux, iOS, and Android.<\/p>\n\n\n\n
    Ledger Live connects to all Ledger devices, including the Nano X and Nano S. The functions that the software allows include; checking your account balances, receiving and sending cryptocurrencies and NFTs, deleting, adding, or managing your assets and accounts, buying and selling cryptocurrencies within the device through third-party services, and even staking your various cryptocurrencies (through third parties once again).<\/p>\n\n\n\n
    $\"\"$
    Ledger Live Portfolio. Source: CoinZodiaC<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X: Supported Coins And Connectivity<\/h2>\n\n\n\n
    Ledger Live supports over 5,500 different cryptocurrencies, including Bitcoin, Ethereum, and Binance Coin. The Ledger Nano X can also support up to 100 various applications (cryptocurrencies) simultaneously.<\/p>\n\n\n\n
    The Ledger Nano X can also connect to various wallets and platforms to enhance the user experience. Such connections include; MyEtherWallet, Metamask, Electrum, and 1inch.<\/p>\n\n\n\n
    Ledger Nano X: Is It Safe And The Security Features<\/h2>\n\n\n\n
    Ledgers are secured with a custom-built OS called BOLOS and a CC EAL5+ Certified Secure Chip. The French national cybersecurity agency, ANSSI, has also audited Ledger. There has not yet been a successful hacking attempt against the Ledger software, although in 2020, there was a data leak where personal information was retrieved, such as emails, postal addresses, and names.<\/p>\n\n\n\n
    All hardware wallets, not just Ledger devices, are secured using a seed phrase. This 24-word recovery phrase is given to you when setting up the actual device; make sure to take note of it on all 3 of your recovery sheets given to you with the Ledger Nano X. These random English words allow anyone to access the device, not just yourself, so it is vital to protect your recovery phrase and never share it with anyone.<\/p>\n\n\n\n
    The Ledger Nano X also requires a 6-digit pin code to get inside the device, which is needed every time the wallet turns off and back on or if the wallet goes to sleep. The Ledger Nano X also contains a secure element (SE) requiring consent for any action taken with the device. This is confirmed by simultaneously pressing the two buttons on either side of the device.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    $\"Ledger$
    Ledger Nano X Security Features. Source: Ledger<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X FAQs<\/h2>\n\n\n\n
    What Happens If You Break Or Lose Your Ledger?<\/h3>\n\n\n\n
    Breaking your Ledger or losing the device doesn't bring the coins into the void along with the device. When you set up your wallet, you should've made multiple copies of your secret phrase - this phrase allows you to purchase another wallet and restore your account.<\/p>\n\n\n\n
    This is because the assets are stored on the blockchain, and if you can verify that the assets are yours, you should control what happens with them - so you can restore them!<\/p>\n\n\n\n
    $\"Example$
    An example 24-word recovery phrase. Source: Unchained Capital<\/figcaption><\/figure>\n\n\n\n
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/h3>\n\n\n\n
    Ledger Nano X's have built-in Bluetooth, which can be enabled or disabled as the user pleases. Bluetooth connectivity is excellent for those who travel often. Still, there is often scrutiny around the technology as it may pose a potential threat to users with the potential of an interception by a hacker. In turn, Bluetooth is encrypted end-to-end and poses no additional security threats.<\/p>\n\n\n\n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
    Most Read
    
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    Ledger Nano X 2023 Review – A Remarkable, Secure Hardware Wallet
    
    March 26, 2023
    
    Artificial Intelligence
    
    Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents
    
    December 19, 2024
    
    Artificial Intelligence
    
    Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations
    
    August 15, 2024
    
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    November 24, 2024
    
    Artificial Intelligence
    
    Amazon Commits $4 Billion Investment In Anthropic To Power The Generation Of AI Development
    
    December 3, 2024
    
    Subscribe To Our Newsletter
    
    By subscribing, you agree with our privacy and terms.
    
    Type your email here
    
    Follow The Distributed
    
    Twitter Instagram Youtube LinkedIn Facebook RSS
    
    ADVERTISEMENT
    
    \n
    What Is Ledger Live?<\/h3>\n\n\n\n
    Ledger Live is the official desktop and mobile app developed by Ledger. It is a simple interface that allows you to manage all your crypto assets in one place. Ledger Live is available for Windows, macOS, Linux, iOS, and Android.<\/p>\n\n\n\n
    Ledger Live connects to all Ledger devices, including the Nano X and Nano S. The functions that the software allows include; checking your account balances, receiving and sending cryptocurrencies and NFTs, deleting, adding, or managing your assets and accounts, buying and selling cryptocurrencies within the device through third-party services, and even staking your various cryptocurrencies (through third parties once again).<\/p>\n\n\n\n
    $\"\"$
    Ledger Live Portfolio. Source: CoinZodiaC<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X: Supported Coins And Connectivity<\/h2>\n\n\n\n
    Ledger Live supports over 5,500 different cryptocurrencies, including Bitcoin, Ethereum, and Binance Coin. The Ledger Nano X can also support up to 100 various applications (cryptocurrencies) simultaneously.<\/p>\n\n\n\n
    The Ledger Nano X can also connect to various wallets and platforms to enhance the user experience. Such connections include; MyEtherWallet, Metamask, Electrum, and 1inch.<\/p>\n\n\n\n
    Ledger Nano X: Is It Safe And The Security Features<\/h2>\n\n\n\n
    Ledgers are secured with a custom-built OS called BOLOS and a CC EAL5+ Certified Secure Chip. The French national cybersecurity agency, ANSSI, has also audited Ledger. There has not yet been a successful hacking attempt against the Ledger software, although in 2020, there was a data leak where personal information was retrieved, such as emails, postal addresses, and names.<\/p>\n\n\n\n
    All hardware wallets, not just Ledger devices, are secured using a seed phrase. This 24-word recovery phrase is given to you when setting up the actual device; make sure to take note of it on all 3 of your recovery sheets given to you with the Ledger Nano X. These random English words allow anyone to access the device, not just yourself, so it is vital to protect your recovery phrase and never share it with anyone.<\/p>\n\n\n\n
    The Ledger Nano X also requires a 6-digit pin code to get inside the device, which is needed every time the wallet turns off and back on or if the wallet goes to sleep. The Ledger Nano X also contains a secure element (SE) requiring consent for any action taken with the device. This is confirmed by simultaneously pressing the two buttons on either side of the device.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    $\"Ledger$
    Ledger Nano X Security Features. Source: Ledger<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X FAQs<\/h2>\n\n\n\n
    What Happens If You Break Or Lose Your Ledger?<\/h3>\n\n\n\n
    Breaking your Ledger or losing the device doesn't bring the coins into the void along with the device. When you set up your wallet, you should've made multiple copies of your secret phrase - this phrase allows you to purchase another wallet and restore your account.<\/p>\n\n\n\n
    This is because the assets are stored on the blockchain, and if you can verify that the assets are yours, you should control what happens with them - so you can restore them!<\/p>\n\n\n\n
    $\"Example$
    An example 24-word recovery phrase. Source: Unchained Capital<\/figcaption><\/figure>\n\n\n\n
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/h3>\n\n\n\n
    Ledger Nano X's have built-in Bluetooth, which can be enabled or disabled as the user pleases. Bluetooth connectivity is excellent for those who travel often. Still, there is often scrutiny around the technology as it may pose a potential threat to users with the potential of an interception by a hacker. In turn, Bluetooth is encrypted end-to-end and poses no additional security threats.<\/p>\n\n\n\n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    Ledger Nano X 2023 Review – A Remarkable, Secure Hardware Wallet
    
    March 26, 2023
    
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    \n
    Along with the device, the box contains a USB-A to USB-C cable, a keychain strap, and 3 recovery sheets on which you can write your seed phrase.<\/p>\n\n\n\n
    What Is Ledger Live?<\/h3>\n\n\n\n
    Ledger Live is the official desktop and mobile app developed by Ledger. It is a simple interface that allows you to manage all your crypto assets in one place. Ledger Live is available for Windows, macOS, Linux, iOS, and Android.<\/p>\n\n\n\n
    Ledger Live connects to all Ledger devices, including the Nano X and Nano S. The functions that the software allows include; checking your account balances, receiving and sending cryptocurrencies and NFTs, deleting, adding, or managing your assets and accounts, buying and selling cryptocurrencies within the device through third-party services, and even staking your various cryptocurrencies (through third parties once again).<\/p>\n\n\n\n
    $\"\"$
    Ledger Live Portfolio. Source: CoinZodiaC<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X: Supported Coins And Connectivity<\/h2>\n\n\n\n
    Ledger Live supports over 5,500 different cryptocurrencies, including Bitcoin, Ethereum, and Binance Coin. The Ledger Nano X can also support up to 100 various applications (cryptocurrencies) simultaneously.<\/p>\n\n\n\n
    The Ledger Nano X can also connect to various wallets and platforms to enhance the user experience. Such connections include; MyEtherWallet, Metamask, Electrum, and 1inch.<\/p>\n\n\n\n
    Ledger Nano X: Is It Safe And The Security Features<\/h2>\n\n\n\n
    Ledgers are secured with a custom-built OS called BOLOS and a CC EAL5+ Certified Secure Chip. The French national cybersecurity agency, ANSSI, has also audited Ledger. There has not yet been a successful hacking attempt against the Ledger software, although in 2020, there was a data leak where personal information was retrieved, such as emails, postal addresses, and names.<\/p>\n\n\n\n
    All hardware wallets, not just Ledger devices, are secured using a seed phrase. This 24-word recovery phrase is given to you when setting up the actual device; make sure to take note of it on all 3 of your recovery sheets given to you with the Ledger Nano X. These random English words allow anyone to access the device, not just yourself, so it is vital to protect your recovery phrase and never share it with anyone.<\/p>\n\n\n\n
    The Ledger Nano X also requires a 6-digit pin code to get inside the device, which is needed every time the wallet turns off and back on or if the wallet goes to sleep. The Ledger Nano X also contains a secure element (SE) requiring consent for any action taken with the device. This is confirmed by simultaneously pressing the two buttons on either side of the device.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    $\"Ledger$
    Ledger Nano X Security Features. Source: Ledger<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X FAQs<\/h2>\n\n\n\n
    What Happens If You Break Or Lose Your Ledger?<\/h3>\n\n\n\n
    Breaking your Ledger or losing the device doesn't bring the coins into the void along with the device. When you set up your wallet, you should've made multiple copies of your secret phrase - this phrase allows you to purchase another wallet and restore your account.<\/p>\n\n\n\n
    This is because the assets are stored on the blockchain, and if you can verify that the assets are yours, you should control what happens with them - so you can restore them!<\/p>\n\n\n\n
    $\"Example$
    An example 24-word recovery phrase. Source: Unchained Capital<\/figcaption><\/figure>\n\n\n\n
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/h3>\n\n\n\n
    Ledger Nano X's have built-in Bluetooth, which can be enabled or disabled as the user pleases. Bluetooth connectivity is excellent for those who travel often. Still, there is often scrutiny around the technology as it may pose a potential threat to users with the potential of an interception by a hacker. In turn, Bluetooth is encrypted end-to-end and poses no additional security threats.<\/p>\n\n\n\n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
    Most Read
    
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    Ledger Nano X 2023 Review – A Remarkable, Secure Hardware Wallet
    
    March 26, 2023
    
    Artificial Intelligence
    
    Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents
    
    December 19, 2024
    
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    August 15, 2024
    
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    \n
    The device can sustain 8 hours of continuous use, which once again separates it from the Nano S, which requires a connection to a laptop or PC to be used. Along with a larger screen than the Nano S.<\/p>\n\n\n\n
    Along with the device, the box contains a USB-A to USB-C cable, a keychain strap, and 3 recovery sheets on which you can write your seed phrase.<\/p>\n\n\n\n
    What Is Ledger Live?<\/h3>\n\n\n\n
    Ledger Live is the official desktop and mobile app developed by Ledger. It is a simple interface that allows you to manage all your crypto assets in one place. Ledger Live is available for Windows, macOS, Linux, iOS, and Android.<\/p>\n\n\n\n
    Ledger Live connects to all Ledger devices, including the Nano X and Nano S. The functions that the software allows include; checking your account balances, receiving and sending cryptocurrencies and NFTs, deleting, adding, or managing your assets and accounts, buying and selling cryptocurrencies within the device through third-party services, and even staking your various cryptocurrencies (through third parties once again).<\/p>\n\n\n\n
    $\"\"$
    Ledger Live Portfolio. Source: CoinZodiaC<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X: Supported Coins And Connectivity<\/h2>\n\n\n\n
    Ledger Live supports over 5,500 different cryptocurrencies, including Bitcoin, Ethereum, and Binance Coin. The Ledger Nano X can also support up to 100 various applications (cryptocurrencies) simultaneously.<\/p>\n\n\n\n
    The Ledger Nano X can also connect to various wallets and platforms to enhance the user experience. Such connections include; MyEtherWallet, Metamask, Electrum, and 1inch.<\/p>\n\n\n\n
    Ledger Nano X: Is It Safe And The Security Features<\/h2>\n\n\n\n
    Ledgers are secured with a custom-built OS called BOLOS and a CC EAL5+ Certified Secure Chip. The French national cybersecurity agency, ANSSI, has also audited Ledger. There has not yet been a successful hacking attempt against the Ledger software, although in 2020, there was a data leak where personal information was retrieved, such as emails, postal addresses, and names.<\/p>\n\n\n\n
    All hardware wallets, not just Ledger devices, are secured using a seed phrase. This 24-word recovery phrase is given to you when setting up the actual device; make sure to take note of it on all 3 of your recovery sheets given to you with the Ledger Nano X. These random English words allow anyone to access the device, not just yourself, so it is vital to protect your recovery phrase and never share it with anyone.<\/p>\n\n\n\n
    The Ledger Nano X also requires a 6-digit pin code to get inside the device, which is needed every time the wallet turns off and back on or if the wallet goes to sleep. The Ledger Nano X also contains a secure element (SE) requiring consent for any action taken with the device. This is confirmed by simultaneously pressing the two buttons on either side of the device.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    $\"Ledger$
    Ledger Nano X Security Features. Source: Ledger<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X FAQs<\/h2>\n\n\n\n
    What Happens If You Break Or Lose Your Ledger?<\/h3>\n\n\n\n
    Breaking your Ledger or losing the device doesn't bring the coins into the void along with the device. When you set up your wallet, you should've made multiple copies of your secret phrase - this phrase allows you to purchase another wallet and restore your account.<\/p>\n\n\n\n
    This is because the assets are stored on the blockchain, and if you can verify that the assets are yours, you should control what happens with them - so you can restore them!<\/p>\n\n\n\n
    $\"Example$
    An example 24-word recovery phrase. Source: Unchained Capital<\/figcaption><\/figure>\n\n\n\n
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/h3>\n\n\n\n
    Ledger Nano X's have built-in Bluetooth, which can be enabled or disabled as the user pleases. Bluetooth connectivity is excellent for those who travel often. Still, there is often scrutiny around the technology as it may pose a potential threat to users with the potential of an interception by a hacker. In turn, Bluetooth is encrypted end-to-end and poses no additional security threats.<\/p>\n\n\n\n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    \n
    One of the most significant improvements over the Ledger Nano S is Bluetooth connectivity. This allows you to connect the device to your mobile phone and use it on the go, which separates the Nano X from the Nano S. If you travel often, this addition may be well worth your money. It can also be connected to larger devices, such as laptops using the USB-C port.<\/p>\n\n\n\n
    The device can sustain 8 hours of continuous use, which once again separates it from the Nano S, which requires a connection to a laptop or PC to be used. Along with a larger screen than the Nano S.<\/p>\n\n\n\n
    Along with the device, the box contains a USB-A to USB-C cable, a keychain strap, and 3 recovery sheets on which you can write your seed phrase.<\/p>\n\n\n\n
    What Is Ledger Live?<\/h3>\n\n\n\n
    Ledger Live is the official desktop and mobile app developed by Ledger. It is a simple interface that allows you to manage all your crypto assets in one place. Ledger Live is available for Windows, macOS, Linux, iOS, and Android.<\/p>\n\n\n\n
    Ledger Live connects to all Ledger devices, including the Nano X and Nano S. The functions that the software allows include; checking your account balances, receiving and sending cryptocurrencies and NFTs, deleting, adding, or managing your assets and accounts, buying and selling cryptocurrencies within the device through third-party services, and even staking your various cryptocurrencies (through third parties once again).<\/p>\n\n\n\n
    $\"\"$
    Ledger Live Portfolio. Source: CoinZodiaC<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X: Supported Coins And Connectivity<\/h2>\n\n\n\n
    Ledger Live supports over 5,500 different cryptocurrencies, including Bitcoin, Ethereum, and Binance Coin. The Ledger Nano X can also support up to 100 various applications (cryptocurrencies) simultaneously.<\/p>\n\n\n\n
    The Ledger Nano X can also connect to various wallets and platforms to enhance the user experience. Such connections include; MyEtherWallet, Metamask, Electrum, and 1inch.<\/p>\n\n\n\n
    Ledger Nano X: Is It Safe And The Security Features<\/h2>\n\n\n\n
    Ledgers are secured with a custom-built OS called BOLOS and a CC EAL5+ Certified Secure Chip. The French national cybersecurity agency, ANSSI, has also audited Ledger. There has not yet been a successful hacking attempt against the Ledger software, although in 2020, there was a data leak where personal information was retrieved, such as emails, postal addresses, and names.<\/p>\n\n\n\n
    All hardware wallets, not just Ledger devices, are secured using a seed phrase. This 24-word recovery phrase is given to you when setting up the actual device; make sure to take note of it on all 3 of your recovery sheets given to you with the Ledger Nano X. These random English words allow anyone to access the device, not just yourself, so it is vital to protect your recovery phrase and never share it with anyone.<\/p>\n\n\n\n
    The Ledger Nano X also requires a 6-digit pin code to get inside the device, which is needed every time the wallet turns off and back on or if the wallet goes to sleep. The Ledger Nano X also contains a secure element (SE) requiring consent for any action taken with the device. This is confirmed by simultaneously pressing the two buttons on either side of the device.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    $\"Ledger$
    Ledger Nano X Security Features. Source: Ledger<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X FAQs<\/h2>\n\n\n\n
    What Happens If You Break Or Lose Your Ledger?<\/h3>\n\n\n\n
    Breaking your Ledger or losing the device doesn't bring the coins into the void along with the device. When you set up your wallet, you should've made multiple copies of your secret phrase - this phrase allows you to purchase another wallet and restore your account.<\/p>\n\n\n\n
    This is because the assets are stored on the blockchain, and if you can verify that the assets are yours, you should control what happens with them - so you can restore them!<\/p>\n\n\n\n
    $\"Example$
    An example 24-word recovery phrase. Source: Unchained Capital<\/figcaption><\/figure>\n\n\n\n
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/h3>\n\n\n\n
    Ledger Nano X's have built-in Bluetooth, which can be enabled or disabled as the user pleases. Bluetooth connectivity is excellent for those who travel often. Still, there is often scrutiny around the technology as it may pose a potential threat to users with the potential of an interception by a hacker. In turn, Bluetooth is encrypted end-to-end and poses no additional security threats.<\/p>\n\n\n\n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    \n
    Ledger Live also has a feature called the \"Live Apps Catalog\" this catalogue of applications connects seamlessly to various software such as Kilin, 1inch, Lido, DustSweeper, and dozens of other services. The service aims to \"bring you access to the world of DeFi, NFTs, and more, securely, right inside Ledger Live!\"<\/em><\/p>\n\n\n\n
    One of the most significant improvements over the Ledger Nano S is Bluetooth connectivity. This allows you to connect the device to your mobile phone and use it on the go, which separates the Nano X from the Nano S. If you travel often, this addition may be well worth your money. It can also be connected to larger devices, such as laptops using the USB-C port.<\/p>\n\n\n\n
    The device can sustain 8 hours of continuous use, which once again separates it from the Nano S, which requires a connection to a laptop or PC to be used. Along with a larger screen than the Nano S.<\/p>\n\n\n\n
    Along with the device, the box contains a USB-A to USB-C cable, a keychain strap, and 3 recovery sheets on which you can write your seed phrase.<\/p>\n\n\n\n
    What Is Ledger Live?<\/h3>\n\n\n\n
    Ledger Live is the official desktop and mobile app developed by Ledger. It is a simple interface that allows you to manage all your crypto assets in one place. Ledger Live is available for Windows, macOS, Linux, iOS, and Android.<\/p>\n\n\n\n
    Ledger Live connects to all Ledger devices, including the Nano X and Nano S. The functions that the software allows include; checking your account balances, receiving and sending cryptocurrencies and NFTs, deleting, adding, or managing your assets and accounts, buying and selling cryptocurrencies within the device through third-party services, and even staking your various cryptocurrencies (through third parties once again).<\/p>\n\n\n\n
    $\"\"$
    Ledger Live Portfolio. Source: CoinZodiaC<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X: Supported Coins And Connectivity<\/h2>\n\n\n\n
    Ledger Live supports over 5,500 different cryptocurrencies, including Bitcoin, Ethereum, and Binance Coin. The Ledger Nano X can also support up to 100 various applications (cryptocurrencies) simultaneously.<\/p>\n\n\n\n
    The Ledger Nano X can also connect to various wallets and platforms to enhance the user experience. Such connections include; MyEtherWallet, Metamask, Electrum, and 1inch.<\/p>\n\n\n\n
    Ledger Nano X: Is It Safe And The Security Features<\/h2>\n\n\n\n
    Ledgers are secured with a custom-built OS called BOLOS and a CC EAL5+ Certified Secure Chip. The French national cybersecurity agency, ANSSI, has also audited Ledger. There has not yet been a successful hacking attempt against the Ledger software, although in 2020, there was a data leak where personal information was retrieved, such as emails, postal addresses, and names.<\/p>\n\n\n\n
    All hardware wallets, not just Ledger devices, are secured using a seed phrase. This 24-word recovery phrase is given to you when setting up the actual device; make sure to take note of it on all 3 of your recovery sheets given to you with the Ledger Nano X. These random English words allow anyone to access the device, not just yourself, so it is vital to protect your recovery phrase and never share it with anyone.<\/p>\n\n\n\n
    The Ledger Nano X also requires a 6-digit pin code to get inside the device, which is needed every time the wallet turns off and back on or if the wallet goes to sleep. The Ledger Nano X also contains a secure element (SE) requiring consent for any action taken with the device. This is confirmed by simultaneously pressing the two buttons on either side of the device.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    $\"Ledger$
    Ledger Nano X Security Features. Source: Ledger<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X FAQs<\/h2>\n\n\n\n
    What Happens If You Break Or Lose Your Ledger?<\/h3>\n\n\n\n
    Breaking your Ledger or losing the device doesn't bring the coins into the void along with the device. When you set up your wallet, you should've made multiple copies of your secret phrase - this phrase allows you to purchase another wallet and restore your account.<\/p>\n\n\n\n
    This is because the assets are stored on the blockchain, and if you can verify that the assets are yours, you should control what happens with them - so you can restore them!<\/p>\n\n\n\n
    $\"Example$
    An example 24-word recovery phrase. Source: Unchained Capital<\/figcaption><\/figure>\n\n\n\n
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/h3>\n\n\n\n
    Ledger Nano X's have built-in Bluetooth, which can be enabled or disabled as the user pleases. Bluetooth connectivity is excellent for those who travel often. Still, there is often scrutiny around the technology as it may pose a potential threat to users with the potential of an interception by a hacker. In turn, Bluetooth is encrypted end-to-end and poses no additional security threats.<\/p>\n\n\n\n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
    Most Read
    
    Wallets
    
    Ledger Nano X 2023 Review – A Remarkable, Secure Hardware Wallet
    
    March 26, 2023
    
    Artificial Intelligence
    
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    \n
    The Ledger Nano X is US$149 (AU$249, \u00a3139). <\/p>\n\n\n\n
    Ledger Live also has a feature called the \"Live Apps Catalog\" this catalogue of applications connects seamlessly to various software such as Kilin, 1inch, Lido, DustSweeper, and dozens of other services. The service aims to \"bring you access to the world of DeFi, NFTs, and more, securely, right inside Ledger Live!\"<\/em><\/p>\n\n\n\n
    One of the most significant improvements over the Ledger Nano S is Bluetooth connectivity. This allows you to connect the device to your mobile phone and use it on the go, which separates the Nano X from the Nano S. If you travel often, this addition may be well worth your money. It can also be connected to larger devices, such as laptops using the USB-C port.<\/p>\n\n\n\n
    The device can sustain 8 hours of continuous use, which once again separates it from the Nano S, which requires a connection to a laptop or PC to be used. Along with a larger screen than the Nano S.<\/p>\n\n\n\n
    Along with the device, the box contains a USB-A to USB-C cable, a keychain strap, and 3 recovery sheets on which you can write your seed phrase.<\/p>\n\n\n\n
    What Is Ledger Live?<\/h3>\n\n\n\n
    Ledger Live is the official desktop and mobile app developed by Ledger. It is a simple interface that allows you to manage all your crypto assets in one place. Ledger Live is available for Windows, macOS, Linux, iOS, and Android.<\/p>\n\n\n\n
    Ledger Live connects to all Ledger devices, including the Nano X and Nano S. The functions that the software allows include; checking your account balances, receiving and sending cryptocurrencies and NFTs, deleting, adding, or managing your assets and accounts, buying and selling cryptocurrencies within the device through third-party services, and even staking your various cryptocurrencies (through third parties once again).<\/p>\n\n\n\n
    $\"\"$
    Ledger Live Portfolio. Source: CoinZodiaC<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X: Supported Coins And Connectivity<\/h2>\n\n\n\n
    Ledger Live supports over 5,500 different cryptocurrencies, including Bitcoin, Ethereum, and Binance Coin. The Ledger Nano X can also support up to 100 various applications (cryptocurrencies) simultaneously.<\/p>\n\n\n\n
    The Ledger Nano X can also connect to various wallets and platforms to enhance the user experience. Such connections include; MyEtherWallet, Metamask, Electrum, and 1inch.<\/p>\n\n\n\n
    Ledger Nano X: Is It Safe And The Security Features<\/h2>\n\n\n\n
    Ledgers are secured with a custom-built OS called BOLOS and a CC EAL5+ Certified Secure Chip. The French national cybersecurity agency, ANSSI, has also audited Ledger. There has not yet been a successful hacking attempt against the Ledger software, although in 2020, there was a data leak where personal information was retrieved, such as emails, postal addresses, and names.<\/p>\n\n\n\n
    All hardware wallets, not just Ledger devices, are secured using a seed phrase. This 24-word recovery phrase is given to you when setting up the actual device; make sure to take note of it on all 3 of your recovery sheets given to you with the Ledger Nano X. These random English words allow anyone to access the device, not just yourself, so it is vital to protect your recovery phrase and never share it with anyone.<\/p>\n\n\n\n
    The Ledger Nano X also requires a 6-digit pin code to get inside the device, which is needed every time the wallet turns off and back on or if the wallet goes to sleep. The Ledger Nano X also contains a secure element (SE) requiring consent for any action taken with the device. This is confirmed by simultaneously pressing the two buttons on either side of the device.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    $\"Ledger$
    Ledger Nano X Security Features. Source: Ledger<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X FAQs<\/h2>\n\n\n\n
    What Happens If You Break Or Lose Your Ledger?<\/h3>\n\n\n\n
    Breaking your Ledger or losing the device doesn't bring the coins into the void along with the device. When you set up your wallet, you should've made multiple copies of your secret phrase - this phrase allows you to purchase another wallet and restore your account.<\/p>\n\n\n\n
    This is because the assets are stored on the blockchain, and if you can verify that the assets are yours, you should control what happens with them - so you can restore them!<\/p>\n\n\n\n
    $\"Example$
    An example 24-word recovery phrase. Source: Unchained Capital<\/figcaption><\/figure>\n\n\n\n
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/h3>\n\n\n\n
    Ledger Nano X's have built-in Bluetooth, which can be enabled or disabled as the user pleases. Bluetooth connectivity is excellent for those who travel often. Still, there is often scrutiny around the technology as it may pose a potential threat to users with the potential of an interception by a hacker. In turn, Bluetooth is encrypted end-to-end and poses no additional security threats.<\/p>\n\n\n\n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    Ledger Nano X 2023 Review – A Remarkable, Secure Hardware Wallet
    
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    Subscribe To Our Newsletter
    
    By subscribing, you agree with our privacy and terms.
    
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    Follow The Distributed
    
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    ADVERTISEMENT
    
    \n
    Ledger Nano X: Is The Price Worth It?<\/h2>\n\n\n\n
    The Ledger Nano X is US$149 (AU$249, \u00a3139). <\/p>\n\n\n\n
    Ledger Live also has a feature called the \"Live Apps Catalog\" this catalogue of applications connects seamlessly to various software such as Kilin, 1inch, Lido, DustSweeper, and dozens of other services. The service aims to \"bring you access to the world of DeFi, NFTs, and more, securely, right inside Ledger Live!\"<\/em><\/p>\n\n\n\n
    One of the most significant improvements over the Ledger Nano S is Bluetooth connectivity. This allows you to connect the device to your mobile phone and use it on the go, which separates the Nano X from the Nano S. If you travel often, this addition may be well worth your money. It can also be connected to larger devices, such as laptops using the USB-C port.<\/p>\n\n\n\n
    The device can sustain 8 hours of continuous use, which once again separates it from the Nano S, which requires a connection to a laptop or PC to be used. Along with a larger screen than the Nano S.<\/p>\n\n\n\n
    Along with the device, the box contains a USB-A to USB-C cable, a keychain strap, and 3 recovery sheets on which you can write your seed phrase.<\/p>\n\n\n\n
    What Is Ledger Live?<\/h3>\n\n\n\n
    Ledger Live is the official desktop and mobile app developed by Ledger. It is a simple interface that allows you to manage all your crypto assets in one place. Ledger Live is available for Windows, macOS, Linux, iOS, and Android.<\/p>\n\n\n\n
    Ledger Live connects to all Ledger devices, including the Nano X and Nano S. The functions that the software allows include; checking your account balances, receiving and sending cryptocurrencies and NFTs, deleting, adding, or managing your assets and accounts, buying and selling cryptocurrencies within the device through third-party services, and even staking your various cryptocurrencies (through third parties once again).<\/p>\n\n\n\n
    $\"\"$
    Ledger Live Portfolio. Source: CoinZodiaC<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X: Supported Coins And Connectivity<\/h2>\n\n\n\n
    Ledger Live supports over 5,500 different cryptocurrencies, including Bitcoin, Ethereum, and Binance Coin. The Ledger Nano X can also support up to 100 various applications (cryptocurrencies) simultaneously.<\/p>\n\n\n\n
    The Ledger Nano X can also connect to various wallets and platforms to enhance the user experience. Such connections include; MyEtherWallet, Metamask, Electrum, and 1inch.<\/p>\n\n\n\n
    Ledger Nano X: Is It Safe And The Security Features<\/h2>\n\n\n\n
    Ledgers are secured with a custom-built OS called BOLOS and a CC EAL5+ Certified Secure Chip. The French national cybersecurity agency, ANSSI, has also audited Ledger. There has not yet been a successful hacking attempt against the Ledger software, although in 2020, there was a data leak where personal information was retrieved, such as emails, postal addresses, and names.<\/p>\n\n\n\n
    All hardware wallets, not just Ledger devices, are secured using a seed phrase. This 24-word recovery phrase is given to you when setting up the actual device; make sure to take note of it on all 3 of your recovery sheets given to you with the Ledger Nano X. These random English words allow anyone to access the device, not just yourself, so it is vital to protect your recovery phrase and never share it with anyone.<\/p>\n\n\n\n
    The Ledger Nano X also requires a 6-digit pin code to get inside the device, which is needed every time the wallet turns off and back on or if the wallet goes to sleep. The Ledger Nano X also contains a secure element (SE) requiring consent for any action taken with the device. This is confirmed by simultaneously pressing the two buttons on either side of the device.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    $\"Ledger$
    Ledger Nano X Security Features. Source: Ledger<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X FAQs<\/h2>\n\n\n\n
    What Happens If You Break Or Lose Your Ledger?<\/h3>\n\n\n\n
    Breaking your Ledger or losing the device doesn't bring the coins into the void along with the device. When you set up your wallet, you should've made multiple copies of your secret phrase - this phrase allows you to purchase another wallet and restore your account.<\/p>\n\n\n\n
    This is because the assets are stored on the blockchain, and if you can verify that the assets are yours, you should control what happens with them - so you can restore them!<\/p>\n\n\n\n
    $\"Example$
    An example 24-word recovery phrase. Source: Unchained Capital<\/figcaption><\/figure>\n\n\n\n
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/h3>\n\n\n\n
    Ledger Nano X's have built-in Bluetooth, which can be enabled or disabled as the user pleases. Bluetooth connectivity is excellent for those who travel often. Still, there is often scrutiny around the technology as it may pose a potential threat to users with the potential of an interception by a hacker. In turn, Bluetooth is encrypted end-to-end and poses no additional security threats.<\/p>\n\n\n\n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
    Most Read
    
    Wallets
    
    Ledger Nano X 2023 Review – A Remarkable, Secure Hardware Wallet
    
    March 26, 2023
    
    Artificial Intelligence
    
    Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents
    
    December 19, 2024
    
    Artificial Intelligence
    
    Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations
    
    August 15, 2024
    
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    November 24, 2024
    
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    December 3, 2024
    
    Subscribe To Our Newsletter
    
    By subscribing, you agree with our privacy and terms.
    
    Type your email here
    
    Follow The Distributed
    
    Twitter Instagram Youtube LinkedIn Facebook RSS
    
    ADVERTISEMENT
    
    \n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    Ledger Nano X: Is The Price Worth It?<\/h2>\n\n\n\n
    The Ledger Nano X is US$149 (AU$249, \u00a3139). <\/p>\n\n\n\n
    Ledger Live also has a feature called the \"Live Apps Catalog\" this catalogue of applications connects seamlessly to various software such as Kilin, 1inch, Lido, DustSweeper, and dozens of other services. The service aims to \"bring you access to the world of DeFi, NFTs, and more, securely, right inside Ledger Live!\"<\/em><\/p>\n\n\n\n
    One of the most significant improvements over the Ledger Nano S is Bluetooth connectivity. This allows you to connect the device to your mobile phone and use it on the go, which separates the Nano X from the Nano S. If you travel often, this addition may be well worth your money. It can also be connected to larger devices, such as laptops using the USB-C port.<\/p>\n\n\n\n
    The device can sustain 8 hours of continuous use, which once again separates it from the Nano S, which requires a connection to a laptop or PC to be used. Along with a larger screen than the Nano S.<\/p>\n\n\n\n
    Along with the device, the box contains a USB-A to USB-C cable, a keychain strap, and 3 recovery sheets on which you can write your seed phrase.<\/p>\n\n\n\n
    What Is Ledger Live?<\/h3>\n\n\n\n
    Ledger Live is the official desktop and mobile app developed by Ledger. It is a simple interface that allows you to manage all your crypto assets in one place. Ledger Live is available for Windows, macOS, Linux, iOS, and Android.<\/p>\n\n\n\n
    Ledger Live connects to all Ledger devices, including the Nano X and Nano S. The functions that the software allows include; checking your account balances, receiving and sending cryptocurrencies and NFTs, deleting, adding, or managing your assets and accounts, buying and selling cryptocurrencies within the device through third-party services, and even staking your various cryptocurrencies (through third parties once again).<\/p>\n\n\n\n
    $\"\"$
    Ledger Live Portfolio. Source: CoinZodiaC<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X: Supported Coins And Connectivity<\/h2>\n\n\n\n
    Ledger Live supports over 5,500 different cryptocurrencies, including Bitcoin, Ethereum, and Binance Coin. The Ledger Nano X can also support up to 100 various applications (cryptocurrencies) simultaneously.<\/p>\n\n\n\n
    The Ledger Nano X can also connect to various wallets and platforms to enhance the user experience. Such connections include; MyEtherWallet, Metamask, Electrum, and 1inch.<\/p>\n\n\n\n
    Ledger Nano X: Is It Safe And The Security Features<\/h2>\n\n\n\n
    Ledgers are secured with a custom-built OS called BOLOS and a CC EAL5+ Certified Secure Chip. The French national cybersecurity agency, ANSSI, has also audited Ledger. There has not yet been a successful hacking attempt against the Ledger software, although in 2020, there was a data leak where personal information was retrieved, such as emails, postal addresses, and names.<\/p>\n\n\n\n
    All hardware wallets, not just Ledger devices, are secured using a seed phrase. This 24-word recovery phrase is given to you when setting up the actual device; make sure to take note of it on all 3 of your recovery sheets given to you with the Ledger Nano X. These random English words allow anyone to access the device, not just yourself, so it is vital to protect your recovery phrase and never share it with anyone.<\/p>\n\n\n\n
    The Ledger Nano X also requires a 6-digit pin code to get inside the device, which is needed every time the wallet turns off and back on or if the wallet goes to sleep. The Ledger Nano X also contains a secure element (SE) requiring consent for any action taken with the device. This is confirmed by simultaneously pressing the two buttons on either side of the device.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    $\"Ledger$
    Ledger Nano X Security Features. Source: Ledger<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X FAQs<\/h2>\n\n\n\n
    What Happens If You Break Or Lose Your Ledger?<\/h3>\n\n\n\n
    Breaking your Ledger or losing the device doesn't bring the coins into the void along with the device. When you set up your wallet, you should've made multiple copies of your secret phrase - this phrase allows you to purchase another wallet and restore your account.<\/p>\n\n\n\n
    This is because the assets are stored on the blockchain, and if you can verify that the assets are yours, you should control what happens with them - so you can restore them!<\/p>\n\n\n\n
    $\"Example$
    An example 24-word recovery phrase. Source: Unchained Capital<\/figcaption><\/figure>\n\n\n\n
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/h3>\n\n\n\n
    Ledger Nano X's have built-in Bluetooth, which can be enabled or disabled as the user pleases. Bluetooth connectivity is excellent for those who travel often. Still, there is often scrutiny around the technology as it may pose a potential threat to users with the potential of an interception by a hacker. In turn, Bluetooth is encrypted end-to-end and poses no additional security threats.<\/p>\n\n\n\n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    Ledger Nano X 2023 Review – A Remarkable, Secure Hardware Wallet
    
    March 26, 2023
    
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    \n
    - Frequent updates are needed for the firmware, which may be inconvenient for users as the software performs poorly. This can be seen as a pro, depending on the type of person.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    Ledger Nano X: Is The Price Worth It?<\/h2>\n\n\n\n
    The Ledger Nano X is US$149 (AU$249, \u00a3139). <\/p>\n\n\n\n
    Ledger Live also has a feature called the \"Live Apps Catalog\" this catalogue of applications connects seamlessly to various software such as Kilin, 1inch, Lido, DustSweeper, and dozens of other services. The service aims to \"bring you access to the world of DeFi, NFTs, and more, securely, right inside Ledger Live!\"<\/em><\/p>\n\n\n\n
    One of the most significant improvements over the Ledger Nano S is Bluetooth connectivity. This allows you to connect the device to your mobile phone and use it on the go, which separates the Nano X from the Nano S. If you travel often, this addition may be well worth your money. It can also be connected to larger devices, such as laptops using the USB-C port.<\/p>\n\n\n\n
    The device can sustain 8 hours of continuous use, which once again separates it from the Nano S, which requires a connection to a laptop or PC to be used. Along with a larger screen than the Nano S.<\/p>\n\n\n\n
    Along with the device, the box contains a USB-A to USB-C cable, a keychain strap, and 3 recovery sheets on which you can write your seed phrase.<\/p>\n\n\n\n
    What Is Ledger Live?<\/h3>\n\n\n\n
    Ledger Live is the official desktop and mobile app developed by Ledger. It is a simple interface that allows you to manage all your crypto assets in one place. Ledger Live is available for Windows, macOS, Linux, iOS, and Android.<\/p>\n\n\n\n
    Ledger Live connects to all Ledger devices, including the Nano X and Nano S. The functions that the software allows include; checking your account balances, receiving and sending cryptocurrencies and NFTs, deleting, adding, or managing your assets and accounts, buying and selling cryptocurrencies within the device through third-party services, and even staking your various cryptocurrencies (through third parties once again).<\/p>\n\n\n\n
    $\"\"$
    Ledger Live Portfolio. Source: CoinZodiaC<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X: Supported Coins And Connectivity<\/h2>\n\n\n\n
    Ledger Live supports over 5,500 different cryptocurrencies, including Bitcoin, Ethereum, and Binance Coin. The Ledger Nano X can also support up to 100 various applications (cryptocurrencies) simultaneously.<\/p>\n\n\n\n
    The Ledger Nano X can also connect to various wallets and platforms to enhance the user experience. Such connections include; MyEtherWallet, Metamask, Electrum, and 1inch.<\/p>\n\n\n\n
    Ledger Nano X: Is It Safe And The Security Features<\/h2>\n\n\n\n
    Ledgers are secured with a custom-built OS called BOLOS and a CC EAL5+ Certified Secure Chip. The French national cybersecurity agency, ANSSI, has also audited Ledger. There has not yet been a successful hacking attempt against the Ledger software, although in 2020, there was a data leak where personal information was retrieved, such as emails, postal addresses, and names.<\/p>\n\n\n\n
    All hardware wallets, not just Ledger devices, are secured using a seed phrase. This 24-word recovery phrase is given to you when setting up the actual device; make sure to take note of it on all 3 of your recovery sheets given to you with the Ledger Nano X. These random English words allow anyone to access the device, not just yourself, so it is vital to protect your recovery phrase and never share it with anyone.<\/p>\n\n\n\n
    The Ledger Nano X also requires a 6-digit pin code to get inside the device, which is needed every time the wallet turns off and back on or if the wallet goes to sleep. The Ledger Nano X also contains a secure element (SE) requiring consent for any action taken with the device. This is confirmed by simultaneously pressing the two buttons on either side of the device.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    $\"Ledger$
    Ledger Nano X Security Features. Source: Ledger<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X FAQs<\/h2>\n\n\n\n
    What Happens If You Break Or Lose Your Ledger?<\/h3>\n\n\n\n
    Breaking your Ledger or losing the device doesn't bring the coins into the void along with the device. When you set up your wallet, you should've made multiple copies of your secret phrase - this phrase allows you to purchase another wallet and restore your account.<\/p>\n\n\n\n
    This is because the assets are stored on the blockchain, and if you can verify that the assets are yours, you should control what happens with them - so you can restore them!<\/p>\n\n\n\n
    $\"Example$
    An example 24-word recovery phrase. Source: Unchained Capital<\/figcaption><\/figure>\n\n\n\n
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/h3>\n\n\n\n
    Ledger Nano X's have built-in Bluetooth, which can be enabled or disabled as the user pleases. Bluetooth connectivity is excellent for those who travel often. Still, there is often scrutiny around the technology as it may pose a potential threat to users with the potential of an interception by a hacker. In turn, Bluetooth is encrypted end-to-end and poses no additional security threats.<\/p>\n\n\n\n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
    Most Read
    
    Wallets
    
    Ledger Nano X 2023 Review – A Remarkable, Secure Hardware Wallet
    
    March 26, 2023
    
    Artificial Intelligence
    
    Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents
    
    December 19, 2024
    
    Artificial Intelligence
    
    Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations
    
    August 15, 2024
    
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    November 24, 2024
    
    Artificial Intelligence
    
    Amazon Commits $4 Billion Investment In Anthropic To Power The Generation Of AI Development
    
    December 3, 2024
    
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    By subscribing, you agree with our privacy and terms.
    
    Type your email here
    
    Follow The Distributed
    
    Twitter Instagram Youtube LinkedIn Facebook RSS
    
    ADVERTISEMENT
    
    \n
    - More expensive than other comparable hardware wallets.<\/p>\n\n\n\n
    - Frequent updates are needed for the firmware, which may be inconvenient for users as the software performs poorly. This can be seen as a pro, depending on the type of person.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    Ledger Nano X: Is The Price Worth It?<\/h2>\n\n\n\n
    The Ledger Nano X is US$149 (AU$249, \u00a3139). <\/p>\n\n\n\n
    Ledger Live also has a feature called the \"Live Apps Catalog\" this catalogue of applications connects seamlessly to various software such as Kilin, 1inch, Lido, DustSweeper, and dozens of other services. The service aims to \"bring you access to the world of DeFi, NFTs, and more, securely, right inside Ledger Live!\"<\/em><\/p>\n\n\n\n
    One of the most significant improvements over the Ledger Nano S is Bluetooth connectivity. This allows you to connect the device to your mobile phone and use it on the go, which separates the Nano X from the Nano S. If you travel often, this addition may be well worth your money. It can also be connected to larger devices, such as laptops using the USB-C port.<\/p>\n\n\n\n
    The device can sustain 8 hours of continuous use, which once again separates it from the Nano S, which requires a connection to a laptop or PC to be used. Along with a larger screen than the Nano S.<\/p>\n\n\n\n
    Along with the device, the box contains a USB-A to USB-C cable, a keychain strap, and 3 recovery sheets on which you can write your seed phrase.<\/p>\n\n\n\n
    What Is Ledger Live?<\/h3>\n\n\n\n
    Ledger Live is the official desktop and mobile app developed by Ledger. It is a simple interface that allows you to manage all your crypto assets in one place. Ledger Live is available for Windows, macOS, Linux, iOS, and Android.<\/p>\n\n\n\n
    Ledger Live connects to all Ledger devices, including the Nano X and Nano S. The functions that the software allows include; checking your account balances, receiving and sending cryptocurrencies and NFTs, deleting, adding, or managing your assets and accounts, buying and selling cryptocurrencies within the device through third-party services, and even staking your various cryptocurrencies (through third parties once again).<\/p>\n\n\n\n
    $\"\"$
    Ledger Live Portfolio. Source: CoinZodiaC<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X: Supported Coins And Connectivity<\/h2>\n\n\n\n
    Ledger Live supports over 5,500 different cryptocurrencies, including Bitcoin, Ethereum, and Binance Coin. The Ledger Nano X can also support up to 100 various applications (cryptocurrencies) simultaneously.<\/p>\n\n\n\n
    The Ledger Nano X can also connect to various wallets and platforms to enhance the user experience. Such connections include; MyEtherWallet, Metamask, Electrum, and 1inch.<\/p>\n\n\n\n
    Ledger Nano X: Is It Safe And The Security Features<\/h2>\n\n\n\n
    Ledgers are secured with a custom-built OS called BOLOS and a CC EAL5+ Certified Secure Chip. The French national cybersecurity agency, ANSSI, has also audited Ledger. There has not yet been a successful hacking attempt against the Ledger software, although in 2020, there was a data leak where personal information was retrieved, such as emails, postal addresses, and names.<\/p>\n\n\n\n
    All hardware wallets, not just Ledger devices, are secured using a seed phrase. This 24-word recovery phrase is given to you when setting up the actual device; make sure to take note of it on all 3 of your recovery sheets given to you with the Ledger Nano X. These random English words allow anyone to access the device, not just yourself, so it is vital to protect your recovery phrase and never share it with anyone.<\/p>\n\n\n\n
    The Ledger Nano X also requires a 6-digit pin code to get inside the device, which is needed every time the wallet turns off and back on or if the wallet goes to sleep. The Ledger Nano X also contains a secure element (SE) requiring consent for any action taken with the device. This is confirmed by simultaneously pressing the two buttons on either side of the device.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    $\"Ledger$
    Ledger Nano X Security Features. Source: Ledger<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X FAQs<\/h2>\n\n\n\n
    What Happens If You Break Or Lose Your Ledger?<\/h3>\n\n\n\n
    Breaking your Ledger or losing the device doesn't bring the coins into the void along with the device. When you set up your wallet, you should've made multiple copies of your secret phrase - this phrase allows you to purchase another wallet and restore your account.<\/p>\n\n\n\n
    This is because the assets are stored on the blockchain, and if you can verify that the assets are yours, you should control what happens with them - so you can restore them!<\/p>\n\n\n\n
    $\"Example$
    An example 24-word recovery phrase. Source: Unchained Capital<\/figcaption><\/figure>\n\n\n\n
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/h3>\n\n\n\n
    Ledger Nano X's have built-in Bluetooth, which can be enabled or disabled as the user pleases. Bluetooth connectivity is excellent for those who travel often. Still, there is often scrutiny around the technology as it may pose a potential threat to users with the potential of an interception by a hacker. In turn, Bluetooth is encrypted end-to-end and poses no additional security threats.<\/p>\n\n\n\n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    Ledger Nano X 2023 Review – A Remarkable, Secure Hardware Wallet
    
    March 26, 2023
    
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    \n
    Cons<\/h3>\n\n\n\n
    - More expensive than other comparable hardware wallets.<\/p>\n\n\n\n
    - Frequent updates are needed for the firmware, which may be inconvenient for users as the software performs poorly. This can be seen as a pro, depending on the type of person.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    Ledger Nano X: Is The Price Worth It?<\/h2>\n\n\n\n
    The Ledger Nano X is US$149 (AU$249, \u00a3139). <\/p>\n\n\n\n
    Ledger Live also has a feature called the \"Live Apps Catalog\" this catalogue of applications connects seamlessly to various software such as Kilin, 1inch, Lido, DustSweeper, and dozens of other services. The service aims to \"bring you access to the world of DeFi, NFTs, and more, securely, right inside Ledger Live!\"<\/em><\/p>\n\n\n\n
    One of the most significant improvements over the Ledger Nano S is Bluetooth connectivity. This allows you to connect the device to your mobile phone and use it on the go, which separates the Nano X from the Nano S. If you travel often, this addition may be well worth your money. It can also be connected to larger devices, such as laptops using the USB-C port.<\/p>\n\n\n\n
    The device can sustain 8 hours of continuous use, which once again separates it from the Nano S, which requires a connection to a laptop or PC to be used. Along with a larger screen than the Nano S.<\/p>\n\n\n\n
    Along with the device, the box contains a USB-A to USB-C cable, a keychain strap, and 3 recovery sheets on which you can write your seed phrase.<\/p>\n\n\n\n
    What Is Ledger Live?<\/h3>\n\n\n\n
    Ledger Live is the official desktop and mobile app developed by Ledger. It is a simple interface that allows you to manage all your crypto assets in one place. Ledger Live is available for Windows, macOS, Linux, iOS, and Android.<\/p>\n\n\n\n
    Ledger Live connects to all Ledger devices, including the Nano X and Nano S. The functions that the software allows include; checking your account balances, receiving and sending cryptocurrencies and NFTs, deleting, adding, or managing your assets and accounts, buying and selling cryptocurrencies within the device through third-party services, and even staking your various cryptocurrencies (through third parties once again).<\/p>\n\n\n\n
    $\"\"$
    Ledger Live Portfolio. Source: CoinZodiaC<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X: Supported Coins And Connectivity<\/h2>\n\n\n\n
    Ledger Live supports over 5,500 different cryptocurrencies, including Bitcoin, Ethereum, and Binance Coin. The Ledger Nano X can also support up to 100 various applications (cryptocurrencies) simultaneously.<\/p>\n\n\n\n
    The Ledger Nano X can also connect to various wallets and platforms to enhance the user experience. Such connections include; MyEtherWallet, Metamask, Electrum, and 1inch.<\/p>\n\n\n\n
    Ledger Nano X: Is It Safe And The Security Features<\/h2>\n\n\n\n
    Ledgers are secured with a custom-built OS called BOLOS and a CC EAL5+ Certified Secure Chip. The French national cybersecurity agency, ANSSI, has also audited Ledger. There has not yet been a successful hacking attempt against the Ledger software, although in 2020, there was a data leak where personal information was retrieved, such as emails, postal addresses, and names.<\/p>\n\n\n\n
    All hardware wallets, not just Ledger devices, are secured using a seed phrase. This 24-word recovery phrase is given to you when setting up the actual device; make sure to take note of it on all 3 of your recovery sheets given to you with the Ledger Nano X. These random English words allow anyone to access the device, not just yourself, so it is vital to protect your recovery phrase and never share it with anyone.<\/p>\n\n\n\n
    The Ledger Nano X also requires a 6-digit pin code to get inside the device, which is needed every time the wallet turns off and back on or if the wallet goes to sleep. The Ledger Nano X also contains a secure element (SE) requiring consent for any action taken with the device. This is confirmed by simultaneously pressing the two buttons on either side of the device.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    $\"Ledger$
    Ledger Nano X Security Features. Source: Ledger<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X FAQs<\/h2>\n\n\n\n
    What Happens If You Break Or Lose Your Ledger?<\/h3>\n\n\n\n
    Breaking your Ledger or losing the device doesn't bring the coins into the void along with the device. When you set up your wallet, you should've made multiple copies of your secret phrase - this phrase allows you to purchase another wallet and restore your account.<\/p>\n\n\n\n
    This is because the assets are stored on the blockchain, and if you can verify that the assets are yours, you should control what happens with them - so you can restore them!<\/p>\n\n\n\n
    $\"Example$
    An example 24-word recovery phrase. Source: Unchained Capital<\/figcaption><\/figure>\n\n\n\n
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/h3>\n\n\n\n
    Ledger Nano X's have built-in Bluetooth, which can be enabled or disabled as the user pleases. Bluetooth connectivity is excellent for those who travel often. Still, there is often scrutiny around the technology as it may pose a potential threat to users with the potential of an interception by a hacker. In turn, Bluetooth is encrypted end-to-end and poses no additional security threats.<\/p>\n\n\n\n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
    Most Read
    
    Wallets
    
    Ledger Nano X 2023 Review – A Remarkable, Secure Hardware Wallet
    
    March 26, 2023
    
    Artificial Intelligence
    
    Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents
    
    December 19, 2024
    
    Artificial Intelligence
    
    Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations
    
    August 15, 2024
    
    Artificial Intelligence
    
    Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry
    
    November 24, 2024
    
    Artificial Intelligence
    
    Amazon Commits $4 Billion Investment In Anthropic To Power The Generation Of AI Development
    
    December 3, 2024
    
    Subscribe To Our Newsletter
    
    By subscribing, you agree with our privacy and terms.
    
    Type your email here
    
    Follow The Distributed
    
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    ADVERTISEMENT
    
    \n
    - Bluetooth connectivity makes it easy to use on the go compared to other hardware wallets requiring a hard computer connection.<\/p>\n\n\n\n
    Cons<\/h3>\n\n\n\n
    - More expensive than other comparable hardware wallets.<\/p>\n\n\n\n
    - Frequent updates are needed for the firmware, which may be inconvenient for users as the software performs poorly. This can be seen as a pro, depending on the type of person.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    Ledger Nano X: Is The Price Worth It?<\/h2>\n\n\n\n
    The Ledger Nano X is US$149 (AU$249, \u00a3139). <\/p>\n\n\n\n
    Ledger Live also has a feature called the \"Live Apps Catalog\" this catalogue of applications connects seamlessly to various software such as Kilin, 1inch, Lido, DustSweeper, and dozens of other services. The service aims to \"bring you access to the world of DeFi, NFTs, and more, securely, right inside Ledger Live!\"<\/em><\/p>\n\n\n\n
    One of the most significant improvements over the Ledger Nano S is Bluetooth connectivity. This allows you to connect the device to your mobile phone and use it on the go, which separates the Nano X from the Nano S. If you travel often, this addition may be well worth your money. It can also be connected to larger devices, such as laptops using the USB-C port.<\/p>\n\n\n\n
    The device can sustain 8 hours of continuous use, which once again separates it from the Nano S, which requires a connection to a laptop or PC to be used. Along with a larger screen than the Nano S.<\/p>\n\n\n\n
    Along with the device, the box contains a USB-A to USB-C cable, a keychain strap, and 3 recovery sheets on which you can write your seed phrase.<\/p>\n\n\n\n
    What Is Ledger Live?<\/h3>\n\n\n\n
    Ledger Live is the official desktop and mobile app developed by Ledger. It is a simple interface that allows you to manage all your crypto assets in one place. Ledger Live is available for Windows, macOS, Linux, iOS, and Android.<\/p>\n\n\n\n
    Ledger Live connects to all Ledger devices, including the Nano X and Nano S. The functions that the software allows include; checking your account balances, receiving and sending cryptocurrencies and NFTs, deleting, adding, or managing your assets and accounts, buying and selling cryptocurrencies within the device through third-party services, and even staking your various cryptocurrencies (through third parties once again).<\/p>\n\n\n\n
    $\"\"$
    Ledger Live Portfolio. Source: CoinZodiaC<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X: Supported Coins And Connectivity<\/h2>\n\n\n\n
    Ledger Live supports over 5,500 different cryptocurrencies, including Bitcoin, Ethereum, and Binance Coin. The Ledger Nano X can also support up to 100 various applications (cryptocurrencies) simultaneously.<\/p>\n\n\n\n
    The Ledger Nano X can also connect to various wallets and platforms to enhance the user experience. Such connections include; MyEtherWallet, Metamask, Electrum, and 1inch.<\/p>\n\n\n\n
    Ledger Nano X: Is It Safe And The Security Features<\/h2>\n\n\n\n
    Ledgers are secured with a custom-built OS called BOLOS and a CC EAL5+ Certified Secure Chip. The French national cybersecurity agency, ANSSI, has also audited Ledger. There has not yet been a successful hacking attempt against the Ledger software, although in 2020, there was a data leak where personal information was retrieved, such as emails, postal addresses, and names.<\/p>\n\n\n\n
    All hardware wallets, not just Ledger devices, are secured using a seed phrase. This 24-word recovery phrase is given to you when setting up the actual device; make sure to take note of it on all 3 of your recovery sheets given to you with the Ledger Nano X. These random English words allow anyone to access the device, not just yourself, so it is vital to protect your recovery phrase and never share it with anyone.<\/p>\n\n\n\n
    The Ledger Nano X also requires a 6-digit pin code to get inside the device, which is needed every time the wallet turns off and back on or if the wallet goes to sleep. The Ledger Nano X also contains a secure element (SE) requiring consent for any action taken with the device. This is confirmed by simultaneously pressing the two buttons on either side of the device.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    $\"Ledger$
    Ledger Nano X Security Features. Source: Ledger<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X FAQs<\/h2>\n\n\n\n
    What Happens If You Break Or Lose Your Ledger?<\/h3>\n\n\n\n
    Breaking your Ledger or losing the device doesn't bring the coins into the void along with the device. When you set up your wallet, you should've made multiple copies of your secret phrase - this phrase allows you to purchase another wallet and restore your account.<\/p>\n\n\n\n
    This is because the assets are stored on the blockchain, and if you can verify that the assets are yours, you should control what happens with them - so you can restore them!<\/p>\n\n\n\n
    $\"Example$
    An example 24-word recovery phrase. Source: Unchained Capital<\/figcaption><\/figure>\n\n\n\n
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/h3>\n\n\n\n
    Ledger Nano X's have built-in Bluetooth, which can be enabled or disabled as the user pleases. Bluetooth connectivity is excellent for those who travel often. Still, there is often scrutiny around the technology as it may pose a potential threat to users with the potential of an interception by a hacker. In turn, Bluetooth is encrypted end-to-end and poses no additional security threats.<\/p>\n\n\n\n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    Wallets
    
    Ledger Nano X 2023 Review – A Remarkable, Secure Hardware Wallet
    
    March 26, 2023
    
    Artificial Intelligence
    
    Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents
    
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    \n
    - Backup recovery system allows users to recover funds if the wallet has been lost or stolen.<\/p>\n\n\n\n
    - Bluetooth connectivity makes it easy to use on the go compared to other hardware wallets requiring a hard computer connection.<\/p>\n\n\n\n
    Cons<\/h3>\n\n\n\n
    - More expensive than other comparable hardware wallets.<\/p>\n\n\n\n
    - Frequent updates are needed for the firmware, which may be inconvenient for users as the software performs poorly. This can be seen as a pro, depending on the type of person.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    Ledger Nano X: Is The Price Worth It?<\/h2>\n\n\n\n
    The Ledger Nano X is US$149 (AU$249, \u00a3139). <\/p>\n\n\n\n
    Ledger Live also has a feature called the \"Live Apps Catalog\" this catalogue of applications connects seamlessly to various software such as Kilin, 1inch, Lido, DustSweeper, and dozens of other services. The service aims to \"bring you access to the world of DeFi, NFTs, and more, securely, right inside Ledger Live!\"<\/em><\/p>\n\n\n\n
    One of the most significant improvements over the Ledger Nano S is Bluetooth connectivity. This allows you to connect the device to your mobile phone and use it on the go, which separates the Nano X from the Nano S. If you travel often, this addition may be well worth your money. It can also be connected to larger devices, such as laptops using the USB-C port.<\/p>\n\n\n\n
    The device can sustain 8 hours of continuous use, which once again separates it from the Nano S, which requires a connection to a laptop or PC to be used. Along with a larger screen than the Nano S.<\/p>\n\n\n\n
    Along with the device, the box contains a USB-A to USB-C cable, a keychain strap, and 3 recovery sheets on which you can write your seed phrase.<\/p>\n\n\n\n
    What Is Ledger Live?<\/h3>\n\n\n\n
    Ledger Live is the official desktop and mobile app developed by Ledger. It is a simple interface that allows you to manage all your crypto assets in one place. Ledger Live is available for Windows, macOS, Linux, iOS, and Android.<\/p>\n\n\n\n
    Ledger Live connects to all Ledger devices, including the Nano X and Nano S. The functions that the software allows include; checking your account balances, receiving and sending cryptocurrencies and NFTs, deleting, adding, or managing your assets and accounts, buying and selling cryptocurrencies within the device through third-party services, and even staking your various cryptocurrencies (through third parties once again).<\/p>\n\n\n\n
    $\"\"$
    Ledger Live Portfolio. Source: CoinZodiaC<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X: Supported Coins And Connectivity<\/h2>\n\n\n\n
    Ledger Live supports over 5,500 different cryptocurrencies, including Bitcoin, Ethereum, and Binance Coin. The Ledger Nano X can also support up to 100 various applications (cryptocurrencies) simultaneously.<\/p>\n\n\n\n
    The Ledger Nano X can also connect to various wallets and platforms to enhance the user experience. Such connections include; MyEtherWallet, Metamask, Electrum, and 1inch.<\/p>\n\n\n\n
    Ledger Nano X: Is It Safe And The Security Features<\/h2>\n\n\n\n
    Ledgers are secured with a custom-built OS called BOLOS and a CC EAL5+ Certified Secure Chip. The French national cybersecurity agency, ANSSI, has also audited Ledger. There has not yet been a successful hacking attempt against the Ledger software, although in 2020, there was a data leak where personal information was retrieved, such as emails, postal addresses, and names.<\/p>\n\n\n\n
    All hardware wallets, not just Ledger devices, are secured using a seed phrase. This 24-word recovery phrase is given to you when setting up the actual device; make sure to take note of it on all 3 of your recovery sheets given to you with the Ledger Nano X. These random English words allow anyone to access the device, not just yourself, so it is vital to protect your recovery phrase and never share it with anyone.<\/p>\n\n\n\n
    The Ledger Nano X also requires a 6-digit pin code to get inside the device, which is needed every time the wallet turns off and back on or if the wallet goes to sleep. The Ledger Nano X also contains a secure element (SE) requiring consent for any action taken with the device. This is confirmed by simultaneously pressing the two buttons on either side of the device.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    $\"Ledger$
    Ledger Nano X Security Features. Source: Ledger<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X FAQs<\/h2>\n\n\n\n
    What Happens If You Break Or Lose Your Ledger?<\/h3>\n\n\n\n
    Breaking your Ledger or losing the device doesn't bring the coins into the void along with the device. When you set up your wallet, you should've made multiple copies of your secret phrase - this phrase allows you to purchase another wallet and restore your account.<\/p>\n\n\n\n
    This is because the assets are stored on the blockchain, and if you can verify that the assets are yours, you should control what happens with them - so you can restore them!<\/p>\n\n\n\n
    $\"Example$
    An example 24-word recovery phrase. Source: Unchained Capital<\/figcaption><\/figure>\n\n\n\n
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/h3>\n\n\n\n
    Ledger Nano X's have built-in Bluetooth, which can be enabled or disabled as the user pleases. Bluetooth connectivity is excellent for those who travel often. Still, there is often scrutiny around the technology as it may pose a potential threat to users with the potential of an interception by a hacker. In turn, Bluetooth is encrypted end-to-end and poses no additional security threats.<\/p>\n\n\n\n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
    Most Read
    
    Wallets
    
    Ledger Nano X 2023 Review – A Remarkable, Secure Hardware Wallet
    
    March 26, 2023
    
    Artificial Intelligence
    
    Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents
    
    December 19, 2024
    
    Artificial Intelligence
    
    Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations
    
    August 15, 2024
    
    Artificial Intelligence
    
    Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry
    
    November 24, 2024
    
    Artificial Intelligence
    
    Amazon Commits $4 Billion Investment In Anthropic To Power The Generation Of AI Development
    
    December 3, 2024
    
    Subscribe To Our Newsletter
    
    By subscribing, you agree with our privacy and terms.
    
    Type your email here
    
    Follow The Distributed
    
    Twitter Instagram Youtube LinkedIn Facebook RSS
    
    ADVERTISEMENT
    
    \n
    - Versatile wallet can hold almost any crypto asset, token, or NFT compared to other hardware wallets, which are much more limited.<\/p>\n\n\n\n
    - Backup recovery system allows users to recover funds if the wallet has been lost or stolen.<\/p>\n\n\n\n
    - Bluetooth connectivity makes it easy to use on the go compared to other hardware wallets requiring a hard computer connection.<\/p>\n\n\n\n
    Cons<\/h3>\n\n\n\n
    - More expensive than other comparable hardware wallets.<\/p>\n\n\n\n
    - Frequent updates are needed for the firmware, which may be inconvenient for users as the software performs poorly. This can be seen as a pro, depending on the type of person.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    Ledger Nano X: Is The Price Worth It?<\/h2>\n\n\n\n
    The Ledger Nano X is US$149 (AU$249, \u00a3139). <\/p>\n\n\n\n
    Ledger Live also has a feature called the \"Live Apps Catalog\" this catalogue of applications connects seamlessly to various software such as Kilin, 1inch, Lido, DustSweeper, and dozens of other services. The service aims to \"bring you access to the world of DeFi, NFTs, and more, securely, right inside Ledger Live!\"<\/em><\/p>\n\n\n\n
    One of the most significant improvements over the Ledger Nano S is Bluetooth connectivity. This allows you to connect the device to your mobile phone and use it on the go, which separates the Nano X from the Nano S. If you travel often, this addition may be well worth your money. It can also be connected to larger devices, such as laptops using the USB-C port.<\/p>\n\n\n\n
    The device can sustain 8 hours of continuous use, which once again separates it from the Nano S, which requires a connection to a laptop or PC to be used. Along with a larger screen than the Nano S.<\/p>\n\n\n\n
    Along with the device, the box contains a USB-A to USB-C cable, a keychain strap, and 3 recovery sheets on which you can write your seed phrase.<\/p>\n\n\n\n
    What Is Ledger Live?<\/h3>\n\n\n\n
    Ledger Live is the official desktop and mobile app developed by Ledger. It is a simple interface that allows you to manage all your crypto assets in one place. Ledger Live is available for Windows, macOS, Linux, iOS, and Android.<\/p>\n\n\n\n
    Ledger Live connects to all Ledger devices, including the Nano X and Nano S. The functions that the software allows include; checking your account balances, receiving and sending cryptocurrencies and NFTs, deleting, adding, or managing your assets and accounts, buying and selling cryptocurrencies within the device through third-party services, and even staking your various cryptocurrencies (through third parties once again).<\/p>\n\n\n\n
    $\"\"$
    Ledger Live Portfolio. Source: CoinZodiaC<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X: Supported Coins And Connectivity<\/h2>\n\n\n\n
    Ledger Live supports over 5,500 different cryptocurrencies, including Bitcoin, Ethereum, and Binance Coin. The Ledger Nano X can also support up to 100 various applications (cryptocurrencies) simultaneously.<\/p>\n\n\n\n
    The Ledger Nano X can also connect to various wallets and platforms to enhance the user experience. Such connections include; MyEtherWallet, Metamask, Electrum, and 1inch.<\/p>\n\n\n\n
    Ledger Nano X: Is It Safe And The Security Features<\/h2>\n\n\n\n
    Ledgers are secured with a custom-built OS called BOLOS and a CC EAL5+ Certified Secure Chip. The French national cybersecurity agency, ANSSI, has also audited Ledger. There has not yet been a successful hacking attempt against the Ledger software, although in 2020, there was a data leak where personal information was retrieved, such as emails, postal addresses, and names.<\/p>\n\n\n\n
    All hardware wallets, not just Ledger devices, are secured using a seed phrase. This 24-word recovery phrase is given to you when setting up the actual device; make sure to take note of it on all 3 of your recovery sheets given to you with the Ledger Nano X. These random English words allow anyone to access the device, not just yourself, so it is vital to protect your recovery phrase and never share it with anyone.<\/p>\n\n\n\n
    The Ledger Nano X also requires a 6-digit pin code to get inside the device, which is needed every time the wallet turns off and back on or if the wallet goes to sleep. The Ledger Nano X also contains a secure element (SE) requiring consent for any action taken with the device. This is confirmed by simultaneously pressing the two buttons on either side of the device.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    $\"Ledger$
    Ledger Nano X Security Features. Source: Ledger<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X FAQs<\/h2>\n\n\n\n
    What Happens If You Break Or Lose Your Ledger?<\/h3>\n\n\n\n
    Breaking your Ledger or losing the device doesn't bring the coins into the void along with the device. When you set up your wallet, you should've made multiple copies of your secret phrase - this phrase allows you to purchase another wallet and restore your account.<\/p>\n\n\n\n
    This is because the assets are stored on the blockchain, and if you can verify that the assets are yours, you should control what happens with them - so you can restore them!<\/p>\n\n\n\n
    $\"Example$
    An example 24-word recovery phrase. Source: Unchained Capital<\/figcaption><\/figure>\n\n\n\n
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/h3>\n\n\n\n
    Ledger Nano X's have built-in Bluetooth, which can be enabled or disabled as the user pleases. Bluetooth connectivity is excellent for those who travel often. Still, there is often scrutiny around the technology as it may pose a potential threat to users with the potential of an interception by a hacker. In turn, Bluetooth is encrypted end-to-end and poses no additional security threats.<\/p>\n\n\n\n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
    Most Read
    
    Wallets
    
    Ledger Nano X 2023 Review – A Remarkable, Secure Hardware Wallet
    
    March 26, 2023
    
    Artificial Intelligence
    
    Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents
    
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    \n
    - One of the most secure wallets on the market, built by a well-trusted and audited company.<\/p>\n\n\n\n
    - Versatile wallet can hold almost any crypto asset, token, or NFT compared to other hardware wallets, which are much more limited.<\/p>\n\n\n\n
    - Backup recovery system allows users to recover funds if the wallet has been lost or stolen.<\/p>\n\n\n\n
    - Bluetooth connectivity makes it easy to use on the go compared to other hardware wallets requiring a hard computer connection.<\/p>\n\n\n\n
    Cons<\/h3>\n\n\n\n
    - More expensive than other comparable hardware wallets.<\/p>\n\n\n\n
    - Frequent updates are needed for the firmware, which may be inconvenient for users as the software performs poorly. This can be seen as a pro, depending on the type of person.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    Ledger Nano X: Is The Price Worth It?<\/h2>\n\n\n\n
    The Ledger Nano X is US$149 (AU$249, \u00a3139). <\/p>\n\n\n\n
    Ledger Live also has a feature called the \"Live Apps Catalog\" this catalogue of applications connects seamlessly to various software such as Kilin, 1inch, Lido, DustSweeper, and dozens of other services. The service aims to \"bring you access to the world of DeFi, NFTs, and more, securely, right inside Ledger Live!\"<\/em><\/p>\n\n\n\n
    One of the most significant improvements over the Ledger Nano S is Bluetooth connectivity. This allows you to connect the device to your mobile phone and use it on the go, which separates the Nano X from the Nano S. If you travel often, this addition may be well worth your money. It can also be connected to larger devices, such as laptops using the USB-C port.<\/p>\n\n\n\n
    The device can sustain 8 hours of continuous use, which once again separates it from the Nano S, which requires a connection to a laptop or PC to be used. Along with a larger screen than the Nano S.<\/p>\n\n\n\n
    Along with the device, the box contains a USB-A to USB-C cable, a keychain strap, and 3 recovery sheets on which you can write your seed phrase.<\/p>\n\n\n\n
    What Is Ledger Live?<\/h3>\n\n\n\n
    Ledger Live is the official desktop and mobile app developed by Ledger. It is a simple interface that allows you to manage all your crypto assets in one place. Ledger Live is available for Windows, macOS, Linux, iOS, and Android.<\/p>\n\n\n\n
    Ledger Live connects to all Ledger devices, including the Nano X and Nano S. The functions that the software allows include; checking your account balances, receiving and sending cryptocurrencies and NFTs, deleting, adding, or managing your assets and accounts, buying and selling cryptocurrencies within the device through third-party services, and even staking your various cryptocurrencies (through third parties once again).<\/p>\n\n\n\n
    $\"\"$
    Ledger Live Portfolio. Source: CoinZodiaC<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X: Supported Coins And Connectivity<\/h2>\n\n\n\n
    Ledger Live supports over 5,500 different cryptocurrencies, including Bitcoin, Ethereum, and Binance Coin. The Ledger Nano X can also support up to 100 various applications (cryptocurrencies) simultaneously.<\/p>\n\n\n\n
    The Ledger Nano X can also connect to various wallets and platforms to enhance the user experience. Such connections include; MyEtherWallet, Metamask, Electrum, and 1inch.<\/p>\n\n\n\n
    Ledger Nano X: Is It Safe And The Security Features<\/h2>\n\n\n\n
    Ledgers are secured with a custom-built OS called BOLOS and a CC EAL5+ Certified Secure Chip. The French national cybersecurity agency, ANSSI, has also audited Ledger. There has not yet been a successful hacking attempt against the Ledger software, although in 2020, there was a data leak where personal information was retrieved, such as emails, postal addresses, and names.<\/p>\n\n\n\n
    All hardware wallets, not just Ledger devices, are secured using a seed phrase. This 24-word recovery phrase is given to you when setting up the actual device; make sure to take note of it on all 3 of your recovery sheets given to you with the Ledger Nano X. These random English words allow anyone to access the device, not just yourself, so it is vital to protect your recovery phrase and never share it with anyone.<\/p>\n\n\n\n
    The Ledger Nano X also requires a 6-digit pin code to get inside the device, which is needed every time the wallet turns off and back on or if the wallet goes to sleep. The Ledger Nano X also contains a secure element (SE) requiring consent for any action taken with the device. This is confirmed by simultaneously pressing the two buttons on either side of the device.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    $\"Ledger$
    Ledger Nano X Security Features. Source: Ledger<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X FAQs<\/h2>\n\n\n\n
    What Happens If You Break Or Lose Your Ledger?<\/h3>\n\n\n\n
    Breaking your Ledger or losing the device doesn't bring the coins into the void along with the device. When you set up your wallet, you should've made multiple copies of your secret phrase - this phrase allows you to purchase another wallet and restore your account.<\/p>\n\n\n\n
    This is because the assets are stored on the blockchain, and if you can verify that the assets are yours, you should control what happens with them - so you can restore them!<\/p>\n\n\n\n
    $\"Example$
    An example 24-word recovery phrase. Source: Unchained Capital<\/figcaption><\/figure>\n\n\n\n
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/h3>\n\n\n\n
    Ledger Nano X's have built-in Bluetooth, which can be enabled or disabled as the user pleases. Bluetooth connectivity is excellent for those who travel often. Still, there is often scrutiny around the technology as it may pose a potential threat to users with the potential of an interception by a hacker. In turn, Bluetooth is encrypted end-to-end and poses no additional security threats.<\/p>\n\n\n\n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
    Most Read
    
    Wallets
    
    Ledger Nano X 2023 Review – A Remarkable, Secure Hardware Wallet
    
    March 26, 2023
    
    Artificial Intelligence
    
    Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents
    
    December 19, 2024
    
    Artificial Intelligence
    
    Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations
    
    August 15, 2024
    
    Artificial Intelligence
    
    Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry
    
    November 24, 2024
    
    Artificial Intelligence
    
    Amazon Commits $4 Billion Investment In Anthropic To Power The Generation Of AI Development
    
    December 3, 2024
    
    Subscribe To Our Newsletter
    
    By subscribing, you agree with our privacy and terms.
    
    Type your email here
    
    Follow The Distributed
    
    Twitter Instagram Youtube LinkedIn Facebook RSS
    
    ADVERTISEMENT
    
    \n
    Pros<\/h3>\n\n\n\n
    - One of the most secure wallets on the market, built by a well-trusted and audited company.<\/p>\n\n\n\n
    - Versatile wallet can hold almost any crypto asset, token, or NFT compared to other hardware wallets, which are much more limited.<\/p>\n\n\n\n
    - Backup recovery system allows users to recover funds if the wallet has been lost or stolen.<\/p>\n\n\n\n
    - Bluetooth connectivity makes it easy to use on the go compared to other hardware wallets requiring a hard computer connection.<\/p>\n\n\n\n
    Cons<\/h3>\n\n\n\n
    - More expensive than other comparable hardware wallets.<\/p>\n\n\n\n
    - Frequent updates are needed for the firmware, which may be inconvenient for users as the software performs poorly. This can be seen as a pro, depending on the type of person.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    Ledger Nano X: Is The Price Worth It?<\/h2>\n\n\n\n
    The Ledger Nano X is US$149 (AU$249, \u00a3139). <\/p>\n\n\n\n
    Ledger Live also has a feature called the \"Live Apps Catalog\" this catalogue of applications connects seamlessly to various software such as Kilin, 1inch, Lido, DustSweeper, and dozens of other services. The service aims to \"bring you access to the world of DeFi, NFTs, and more, securely, right inside Ledger Live!\"<\/em><\/p>\n\n\n\n
    One of the most significant improvements over the Ledger Nano S is Bluetooth connectivity. This allows you to connect the device to your mobile phone and use it on the go, which separates the Nano X from the Nano S. If you travel often, this addition may be well worth your money. It can also be connected to larger devices, such as laptops using the USB-C port.<\/p>\n\n\n\n
    The device can sustain 8 hours of continuous use, which once again separates it from the Nano S, which requires a connection to a laptop or PC to be used. Along with a larger screen than the Nano S.<\/p>\n\n\n\n
    Along with the device, the box contains a USB-A to USB-C cable, a keychain strap, and 3 recovery sheets on which you can write your seed phrase.<\/p>\n\n\n\n
    What Is Ledger Live?<\/h3>\n\n\n\n
    Ledger Live is the official desktop and mobile app developed by Ledger. It is a simple interface that allows you to manage all your crypto assets in one place. Ledger Live is available for Windows, macOS, Linux, iOS, and Android.<\/p>\n\n\n\n
    Ledger Live connects to all Ledger devices, including the Nano X and Nano S. The functions that the software allows include; checking your account balances, receiving and sending cryptocurrencies and NFTs, deleting, adding, or managing your assets and accounts, buying and selling cryptocurrencies within the device through third-party services, and even staking your various cryptocurrencies (through third parties once again).<\/p>\n\n\n\n
    $\"\"$
    Ledger Live Portfolio. Source: CoinZodiaC<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X: Supported Coins And Connectivity<\/h2>\n\n\n\n
    Ledger Live supports over 5,500 different cryptocurrencies, including Bitcoin, Ethereum, and Binance Coin. The Ledger Nano X can also support up to 100 various applications (cryptocurrencies) simultaneously.<\/p>\n\n\n\n
    The Ledger Nano X can also connect to various wallets and platforms to enhance the user experience. Such connections include; MyEtherWallet, Metamask, Electrum, and 1inch.<\/p>\n\n\n\n
    Ledger Nano X: Is It Safe And The Security Features<\/h2>\n\n\n\n
    Ledgers are secured with a custom-built OS called BOLOS and a CC EAL5+ Certified Secure Chip. The French national cybersecurity agency, ANSSI, has also audited Ledger. There has not yet been a successful hacking attempt against the Ledger software, although in 2020, there was a data leak where personal information was retrieved, such as emails, postal addresses, and names.<\/p>\n\n\n\n
    All hardware wallets, not just Ledger devices, are secured using a seed phrase. This 24-word recovery phrase is given to you when setting up the actual device; make sure to take note of it on all 3 of your recovery sheets given to you with the Ledger Nano X. These random English words allow anyone to access the device, not just yourself, so it is vital to protect your recovery phrase and never share it with anyone.<\/p>\n\n\n\n
    The Ledger Nano X also requires a 6-digit pin code to get inside the device, which is needed every time the wallet turns off and back on or if the wallet goes to sleep. The Ledger Nano X also contains a secure element (SE) requiring consent for any action taken with the device. This is confirmed by simultaneously pressing the two buttons on either side of the device.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    $\"Ledger$
    Ledger Nano X Security Features. Source: Ledger<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X FAQs<\/h2>\n\n\n\n
    What Happens If You Break Or Lose Your Ledger?<\/h3>\n\n\n\n
    Breaking your Ledger or losing the device doesn't bring the coins into the void along with the device. When you set up your wallet, you should've made multiple copies of your secret phrase - this phrase allows you to purchase another wallet and restore your account.<\/p>\n\n\n\n
    This is because the assets are stored on the blockchain, and if you can verify that the assets are yours, you should control what happens with them - so you can restore them!<\/p>\n\n\n\n
    $\"Example$
    An example 24-word recovery phrase. Source: Unchained Capital<\/figcaption><\/figure>\n\n\n\n
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/h3>\n\n\n\n
    Ledger Nano X's have built-in Bluetooth, which can be enabled or disabled as the user pleases. Bluetooth connectivity is excellent for those who travel often. Still, there is often scrutiny around the technology as it may pose a potential threat to users with the potential of an interception by a hacker. In turn, Bluetooth is encrypted end-to-end and poses no additional security threats.<\/p>\n\n\n\n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    Ledger Nano X 2023 Review – A Remarkable, Secure Hardware Wallet
    
    March 26, 2023
    
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    \n
    Ledger Nano X: Pros vs Cons<\/h2>\n\n\n\n
    Pros<\/h3>\n\n\n\n
    - One of the most secure wallets on the market, built by a well-trusted and audited company.<\/p>\n\n\n\n
    - Versatile wallet can hold almost any crypto asset, token, or NFT compared to other hardware wallets, which are much more limited.<\/p>\n\n\n\n
    - Backup recovery system allows users to recover funds if the wallet has been lost or stolen.<\/p>\n\n\n\n
    - Bluetooth connectivity makes it easy to use on the go compared to other hardware wallets requiring a hard computer connection.<\/p>\n\n\n\n
    Cons<\/h3>\n\n\n\n
    - More expensive than other comparable hardware wallets.<\/p>\n\n\n\n
    - Frequent updates are needed for the firmware, which may be inconvenient for users as the software performs poorly. This can be seen as a pro, depending on the type of person.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    Ledger Nano X: Is The Price Worth It?<\/h2>\n\n\n\n
    The Ledger Nano X is US$149 (AU$249, \u00a3139). <\/p>\n\n\n\n
    Ledger Live also has a feature called the \"Live Apps Catalog\" this catalogue of applications connects seamlessly to various software such as Kilin, 1inch, Lido, DustSweeper, and dozens of other services. The service aims to \"bring you access to the world of DeFi, NFTs, and more, securely, right inside Ledger Live!\"<\/em><\/p>\n\n\n\n
    One of the most significant improvements over the Ledger Nano S is Bluetooth connectivity. This allows you to connect the device to your mobile phone and use it on the go, which separates the Nano X from the Nano S. If you travel often, this addition may be well worth your money. It can also be connected to larger devices, such as laptops using the USB-C port.<\/p>\n\n\n\n
    The device can sustain 8 hours of continuous use, which once again separates it from the Nano S, which requires a connection to a laptop or PC to be used. Along with a larger screen than the Nano S.<\/p>\n\n\n\n
    Along with the device, the box contains a USB-A to USB-C cable, a keychain strap, and 3 recovery sheets on which you can write your seed phrase.<\/p>\n\n\n\n
    What Is Ledger Live?<\/h3>\n\n\n\n
    Ledger Live is the official desktop and mobile app developed by Ledger. It is a simple interface that allows you to manage all your crypto assets in one place. Ledger Live is available for Windows, macOS, Linux, iOS, and Android.<\/p>\n\n\n\n
    Ledger Live connects to all Ledger devices, including the Nano X and Nano S. The functions that the software allows include; checking your account balances, receiving and sending cryptocurrencies and NFTs, deleting, adding, or managing your assets and accounts, buying and selling cryptocurrencies within the device through third-party services, and even staking your various cryptocurrencies (through third parties once again).<\/p>\n\n\n\n
    $\"\"$
    Ledger Live Portfolio. Source: CoinZodiaC<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X: Supported Coins And Connectivity<\/h2>\n\n\n\n
    Ledger Live supports over 5,500 different cryptocurrencies, including Bitcoin, Ethereum, and Binance Coin. The Ledger Nano X can also support up to 100 various applications (cryptocurrencies) simultaneously.<\/p>\n\n\n\n
    The Ledger Nano X can also connect to various wallets and platforms to enhance the user experience. Such connections include; MyEtherWallet, Metamask, Electrum, and 1inch.<\/p>\n\n\n\n
    Ledger Nano X: Is It Safe And The Security Features<\/h2>\n\n\n\n
    Ledgers are secured with a custom-built OS called BOLOS and a CC EAL5+ Certified Secure Chip. The French national cybersecurity agency, ANSSI, has also audited Ledger. There has not yet been a successful hacking attempt against the Ledger software, although in 2020, there was a data leak where personal information was retrieved, such as emails, postal addresses, and names.<\/p>\n\n\n\n
    All hardware wallets, not just Ledger devices, are secured using a seed phrase. This 24-word recovery phrase is given to you when setting up the actual device; make sure to take note of it on all 3 of your recovery sheets given to you with the Ledger Nano X. These random English words allow anyone to access the device, not just yourself, so it is vital to protect your recovery phrase and never share it with anyone.<\/p>\n\n\n\n
    The Ledger Nano X also requires a 6-digit pin code to get inside the device, which is needed every time the wallet turns off and back on or if the wallet goes to sleep. The Ledger Nano X also contains a secure element (SE) requiring consent for any action taken with the device. This is confirmed by simultaneously pressing the two buttons on either side of the device.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    $\"Ledger$
    Ledger Nano X Security Features. Source: Ledger<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X FAQs<\/h2>\n\n\n\n
    What Happens If You Break Or Lose Your Ledger?<\/h3>\n\n\n\n
    Breaking your Ledger or losing the device doesn't bring the coins into the void along with the device. When you set up your wallet, you should've made multiple copies of your secret phrase - this phrase allows you to purchase another wallet and restore your account.<\/p>\n\n\n\n
    This is because the assets are stored on the blockchain, and if you can verify that the assets are yours, you should control what happens with them - so you can restore them!<\/p>\n\n\n\n
    $\"Example$
    An example 24-word recovery phrase. Source: Unchained Capital<\/figcaption><\/figure>\n\n\n\n
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/h3>\n\n\n\n
    Ledger Nano X's have built-in Bluetooth, which can be enabled or disabled as the user pleases. Bluetooth connectivity is excellent for those who travel often. Still, there is often scrutiny around the technology as it may pose a potential threat to users with the potential of an interception by a hacker. In turn, Bluetooth is encrypted end-to-end and poses no additional security threats.<\/p>\n\n\n\n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
    Most Read
    
    Wallets
    
    Ledger Nano X 2023 Review – A Remarkable, Secure Hardware Wallet
    
    March 26, 2023
    
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    By subscribing, you agree with our privacy and terms.
    
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    Follow The Distributed
    
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    ADVERTISEMENT
    
    \n
    All Ledger hardware wallets are integrated with Ledger Live. The Ledger Live software can be downloaded onto your desktop computer or mobile device. This interface allows you to access a summary of all your crypto assets, NFTs<\/a>, and other beneficial apps connected to the device.<\/p>\n\n\n\n
    Table Of Contents<\/h2>
    Ledger Nano X: Pros vs Cons<\/a>
    Pros<\/a><\/li>
    Cons<\/a><\/li><\/ul><\/li>
    Ledger Nano X: Is The Price Worth It?<\/a>
    What Is Ledger Live?<\/a><\/li><\/ul><\/li>
    Ledger Nano X: Supported Coins And Connectivity<\/a><\/li>
    Ledger Nano X: Is It Safe And The Security Features<\/a><\/li>
    Ledger Nano X FAQs<\/a>
    What Happens If You Break Or Lose Your Ledger?<\/a><\/li>
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/a><\/li>
    How Do I Set Up My Ledger Nano X?<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    Ledger Nano X: Pros vs Cons<\/h2>\n\n\n\n
    Pros<\/h3>\n\n\n\n
    - One of the most secure wallets on the market, built by a well-trusted and audited company.<\/p>\n\n\n\n
    - Versatile wallet can hold almost any crypto asset, token, or NFT compared to other hardware wallets, which are much more limited.<\/p>\n\n\n\n
    - Backup recovery system allows users to recover funds if the wallet has been lost or stolen.<\/p>\n\n\n\n
    - Bluetooth connectivity makes it easy to use on the go compared to other hardware wallets requiring a hard computer connection.<\/p>\n\n\n\n
    Cons<\/h3>\n\n\n\n
    - More expensive than other comparable hardware wallets.<\/p>\n\n\n\n
    - Frequent updates are needed for the firmware, which may be inconvenient for users as the software performs poorly. This can be seen as a pro, depending on the type of person.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    Ledger Nano X: Is The Price Worth It?<\/h2>\n\n\n\n
    The Ledger Nano X is US$149 (AU$249, \u00a3139). <\/p>\n\n\n\n
    Ledger Live also has a feature called the \"Live Apps Catalog\" this catalogue of applications connects seamlessly to various software such as Kilin, 1inch, Lido, DustSweeper, and dozens of other services. The service aims to \"bring you access to the world of DeFi, NFTs, and more, securely, right inside Ledger Live!\"<\/em><\/p>\n\n\n\n
    One of the most significant improvements over the Ledger Nano S is Bluetooth connectivity. This allows you to connect the device to your mobile phone and use it on the go, which separates the Nano X from the Nano S. If you travel often, this addition may be well worth your money. It can also be connected to larger devices, such as laptops using the USB-C port.<\/p>\n\n\n\n
    The device can sustain 8 hours of continuous use, which once again separates it from the Nano S, which requires a connection to a laptop or PC to be used. Along with a larger screen than the Nano S.<\/p>\n\n\n\n
    Along with the device, the box contains a USB-A to USB-C cable, a keychain strap, and 3 recovery sheets on which you can write your seed phrase.<\/p>\n\n\n\n
    What Is Ledger Live?<\/h3>\n\n\n\n
    Ledger Live is the official desktop and mobile app developed by Ledger. It is a simple interface that allows you to manage all your crypto assets in one place. Ledger Live is available for Windows, macOS, Linux, iOS, and Android.<\/p>\n\n\n\n
    Ledger Live connects to all Ledger devices, including the Nano X and Nano S. The functions that the software allows include; checking your account balances, receiving and sending cryptocurrencies and NFTs, deleting, adding, or managing your assets and accounts, buying and selling cryptocurrencies within the device through third-party services, and even staking your various cryptocurrencies (through third parties once again).<\/p>\n\n\n\n
    $\"\"$
    Ledger Live Portfolio. Source: CoinZodiaC<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X: Supported Coins And Connectivity<\/h2>\n\n\n\n
    Ledger Live supports over 5,500 different cryptocurrencies, including Bitcoin, Ethereum, and Binance Coin. The Ledger Nano X can also support up to 100 various applications (cryptocurrencies) simultaneously.<\/p>\n\n\n\n
    The Ledger Nano X can also connect to various wallets and platforms to enhance the user experience. Such connections include; MyEtherWallet, Metamask, Electrum, and 1inch.<\/p>\n\n\n\n
    Ledger Nano X: Is It Safe And The Security Features<\/h2>\n\n\n\n
    Ledgers are secured with a custom-built OS called BOLOS and a CC EAL5+ Certified Secure Chip. The French national cybersecurity agency, ANSSI, has also audited Ledger. There has not yet been a successful hacking attempt against the Ledger software, although in 2020, there was a data leak where personal information was retrieved, such as emails, postal addresses, and names.<\/p>\n\n\n\n
    All hardware wallets, not just Ledger devices, are secured using a seed phrase. This 24-word recovery phrase is given to you when setting up the actual device; make sure to take note of it on all 3 of your recovery sheets given to you with the Ledger Nano X. These random English words allow anyone to access the device, not just yourself, so it is vital to protect your recovery phrase and never share it with anyone.<\/p>\n\n\n\n
    The Ledger Nano X also requires a 6-digit pin code to get inside the device, which is needed every time the wallet turns off and back on or if the wallet goes to sleep. The Ledger Nano X also contains a secure element (SE) requiring consent for any action taken with the device. This is confirmed by simultaneously pressing the two buttons on either side of the device.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    $\"Ledger$
    Ledger Nano X Security Features. Source: Ledger<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X FAQs<\/h2>\n\n\n\n
    What Happens If You Break Or Lose Your Ledger?<\/h3>\n\n\n\n
    Breaking your Ledger or losing the device doesn't bring the coins into the void along with the device. When you set up your wallet, you should've made multiple copies of your secret phrase - this phrase allows you to purchase another wallet and restore your account.<\/p>\n\n\n\n
    This is because the assets are stored on the blockchain, and if you can verify that the assets are yours, you should control what happens with them - so you can restore them!<\/p>\n\n\n\n
    $\"Example$
    An example 24-word recovery phrase. Source: Unchained Capital<\/figcaption><\/figure>\n\n\n\n
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/h3>\n\n\n\n
    Ledger Nano X's have built-in Bluetooth, which can be enabled or disabled as the user pleases. Bluetooth connectivity is excellent for those who travel often. Still, there is often scrutiny around the technology as it may pose a potential threat to users with the potential of an interception by a hacker. In turn, Bluetooth is encrypted end-to-end and poses no additional security threats.<\/p>\n\n\n\n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
    Most Read
    
    Wallets
    
    Ledger Nano X 2023 Review – A Remarkable, Secure Hardware Wallet
    
    March 26, 2023
    
    Artificial Intelligence
    
    Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents
    
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    \n
    Hardware wallets aren't connected to the internet, meaning they're less vulnerable to attacks as the private keys<\/a> secure the device, and your coins are stored within the device itself and not in the cloud somewhere.<\/p>\n\n\n\n
    All Ledger hardware wallets are integrated with Ledger Live. The Ledger Live software can be downloaded onto your desktop computer or mobile device. This interface allows you to access a summary of all your crypto assets, NFTs<\/a>, and other beneficial apps connected to the device.<\/p>\n\n\n\n
    Table Of Contents<\/h2>
    Ledger Nano X: Pros vs Cons<\/a>
    Pros<\/a><\/li>
    Cons<\/a><\/li><\/ul><\/li>
    Ledger Nano X: Is The Price Worth It?<\/a>
    What Is Ledger Live?<\/a><\/li><\/ul><\/li>
    Ledger Nano X: Supported Coins And Connectivity<\/a><\/li>
    Ledger Nano X: Is It Safe And The Security Features<\/a><\/li>
    Ledger Nano X FAQs<\/a>
    What Happens If You Break Or Lose Your Ledger?<\/a><\/li>
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/a><\/li>
    How Do I Set Up My Ledger Nano X?<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    Ledger Nano X: Pros vs Cons<\/h2>\n\n\n\n
    Pros<\/h3>\n\n\n\n
    - One of the most secure wallets on the market, built by a well-trusted and audited company.<\/p>\n\n\n\n
    - Versatile wallet can hold almost any crypto asset, token, or NFT compared to other hardware wallets, which are much more limited.<\/p>\n\n\n\n
    - Backup recovery system allows users to recover funds if the wallet has been lost or stolen.<\/p>\n\n\n\n
    - Bluetooth connectivity makes it easy to use on the go compared to other hardware wallets requiring a hard computer connection.<\/p>\n\n\n\n
    Cons<\/h3>\n\n\n\n
    - More expensive than other comparable hardware wallets.<\/p>\n\n\n\n
    - Frequent updates are needed for the firmware, which may be inconvenient for users as the software performs poorly. This can be seen as a pro, depending on the type of person.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    Ledger Nano X: Is The Price Worth It?<\/h2>\n\n\n\n
    The Ledger Nano X is US$149 (AU$249, \u00a3139). <\/p>\n\n\n\n
    Ledger Live also has a feature called the \"Live Apps Catalog\" this catalogue of applications connects seamlessly to various software such as Kilin, 1inch, Lido, DustSweeper, and dozens of other services. The service aims to \"bring you access to the world of DeFi, NFTs, and more, securely, right inside Ledger Live!\"<\/em><\/p>\n\n\n\n
    One of the most significant improvements over the Ledger Nano S is Bluetooth connectivity. This allows you to connect the device to your mobile phone and use it on the go, which separates the Nano X from the Nano S. If you travel often, this addition may be well worth your money. It can also be connected to larger devices, such as laptops using the USB-C port.<\/p>\n\n\n\n
    The device can sustain 8 hours of continuous use, which once again separates it from the Nano S, which requires a connection to a laptop or PC to be used. Along with a larger screen than the Nano S.<\/p>\n\n\n\n
    Along with the device, the box contains a USB-A to USB-C cable, a keychain strap, and 3 recovery sheets on which you can write your seed phrase.<\/p>\n\n\n\n
    What Is Ledger Live?<\/h3>\n\n\n\n
    Ledger Live is the official desktop and mobile app developed by Ledger. It is a simple interface that allows you to manage all your crypto assets in one place. Ledger Live is available for Windows, macOS, Linux, iOS, and Android.<\/p>\n\n\n\n
    Ledger Live connects to all Ledger devices, including the Nano X and Nano S. The functions that the software allows include; checking your account balances, receiving and sending cryptocurrencies and NFTs, deleting, adding, or managing your assets and accounts, buying and selling cryptocurrencies within the device through third-party services, and even staking your various cryptocurrencies (through third parties once again).<\/p>\n\n\n\n
    $\"\"$
    Ledger Live Portfolio. Source: CoinZodiaC<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X: Supported Coins And Connectivity<\/h2>\n\n\n\n
    Ledger Live supports over 5,500 different cryptocurrencies, including Bitcoin, Ethereum, and Binance Coin. The Ledger Nano X can also support up to 100 various applications (cryptocurrencies) simultaneously.<\/p>\n\n\n\n
    The Ledger Nano X can also connect to various wallets and platforms to enhance the user experience. Such connections include; MyEtherWallet, Metamask, Electrum, and 1inch.<\/p>\n\n\n\n
    Ledger Nano X: Is It Safe And The Security Features<\/h2>\n\n\n\n
    Ledgers are secured with a custom-built OS called BOLOS and a CC EAL5+ Certified Secure Chip. The French national cybersecurity agency, ANSSI, has also audited Ledger. There has not yet been a successful hacking attempt against the Ledger software, although in 2020, there was a data leak where personal information was retrieved, such as emails, postal addresses, and names.<\/p>\n\n\n\n
    All hardware wallets, not just Ledger devices, are secured using a seed phrase. This 24-word recovery phrase is given to you when setting up the actual device; make sure to take note of it on all 3 of your recovery sheets given to you with the Ledger Nano X. These random English words allow anyone to access the device, not just yourself, so it is vital to protect your recovery phrase and never share it with anyone.<\/p>\n\n\n\n
    The Ledger Nano X also requires a 6-digit pin code to get inside the device, which is needed every time the wallet turns off and back on or if the wallet goes to sleep. The Ledger Nano X also contains a secure element (SE) requiring consent for any action taken with the device. This is confirmed by simultaneously pressing the two buttons on either side of the device.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    $\"Ledger$
    Ledger Nano X Security Features. Source: Ledger<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X FAQs<\/h2>\n\n\n\n
    What Happens If You Break Or Lose Your Ledger?<\/h3>\n\n\n\n
    Breaking your Ledger or losing the device doesn't bring the coins into the void along with the device. When you set up your wallet, you should've made multiple copies of your secret phrase - this phrase allows you to purchase another wallet and restore your account.<\/p>\n\n\n\n
    This is because the assets are stored on the blockchain, and if you can verify that the assets are yours, you should control what happens with them - so you can restore them!<\/p>\n\n\n\n
    $\"Example$
    An example 24-word recovery phrase. Source: Unchained Capital<\/figcaption><\/figure>\n\n\n\n
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/h3>\n\n\n\n
    Ledger Nano X's have built-in Bluetooth, which can be enabled or disabled as the user pleases. Bluetooth connectivity is excellent for those who travel often. Still, there is often scrutiny around the technology as it may pose a potential threat to users with the potential of an interception by a hacker. In turn, Bluetooth is encrypted end-to-end and poses no additional security threats.<\/p>\n\n\n\n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
    Most Read
    
    Wallets
    
    Ledger Nano X 2023 Review – A Remarkable, Secure Hardware Wallet
    
    March 26, 2023
    
    Artificial Intelligence
    
    Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents
    
    December 19, 2024
    
    Artificial Intelligence
    
    Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations
    
    August 15, 2024
    
    Artificial Intelligence
    
    Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry
    
    November 24, 2024
    
    Artificial Intelligence
    
    Amazon Commits $4 Billion Investment In Anthropic To Power The Generation Of AI Development
    
    December 3, 2024
    
    Subscribe To Our Newsletter
    
    By subscribing, you agree with our privacy and terms.
    
    Type your email here
    
    Follow The Distributed
    
    Twitter Instagram Youtube LinkedIn Facebook RSS
    
    ADVERTISEMENT
    
    \n
    The Ledger Nano X is among the most highly regarded cryptocurrency wallets. It is the second hardware wallet introduced by the French company Ledger, after the Ledger Nano S.<\/p>\n\n\n\n
    Hardware wallets aren't connected to the internet, meaning they're less vulnerable to attacks as the private keys<\/a> secure the device, and your coins are stored within the device itself and not in the cloud somewhere.<\/p>\n\n\n\n
    All Ledger hardware wallets are integrated with Ledger Live. The Ledger Live software can be downloaded onto your desktop computer or mobile device. This interface allows you to access a summary of all your crypto assets, NFTs<\/a>, and other beneficial apps connected to the device.<\/p>\n\n\n\n
    Table Of Contents<\/h2>
    Ledger Nano X: Pros vs Cons<\/a>
    Pros<\/a><\/li>
    Cons<\/a><\/li><\/ul><\/li>
    Ledger Nano X: Is The Price Worth It?<\/a>
    What Is Ledger Live?<\/a><\/li><\/ul><\/li>
    Ledger Nano X: Supported Coins And Connectivity<\/a><\/li>
    Ledger Nano X: Is It Safe And The Security Features<\/a><\/li>
    Ledger Nano X FAQs<\/a>
    What Happens If You Break Or Lose Your Ledger?<\/a><\/li>
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/a><\/li>
    How Do I Set Up My Ledger Nano X?<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    Ledger Nano X: Pros vs Cons<\/h2>\n\n\n\n
    Pros<\/h3>\n\n\n\n
    - One of the most secure wallets on the market, built by a well-trusted and audited company.<\/p>\n\n\n\n
    - Versatile wallet can hold almost any crypto asset, token, or NFT compared to other hardware wallets, which are much more limited.<\/p>\n\n\n\n
    - Backup recovery system allows users to recover funds if the wallet has been lost or stolen.<\/p>\n\n\n\n
    - Bluetooth connectivity makes it easy to use on the go compared to other hardware wallets requiring a hard computer connection.<\/p>\n\n\n\n
    Cons<\/h3>\n\n\n\n
    - More expensive than other comparable hardware wallets.<\/p>\n\n\n\n
    - Frequent updates are needed for the firmware, which may be inconvenient for users as the software performs poorly. This can be seen as a pro, depending on the type of person.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    Ledger Nano X: Is The Price Worth It?<\/h2>\n\n\n\n
    The Ledger Nano X is US$149 (AU$249, \u00a3139). <\/p>\n\n\n\n
    Ledger Live also has a feature called the \"Live Apps Catalog\" this catalogue of applications connects seamlessly to various software such as Kilin, 1inch, Lido, DustSweeper, and dozens of other services. The service aims to \"bring you access to the world of DeFi, NFTs, and more, securely, right inside Ledger Live!\"<\/em><\/p>\n\n\n\n
    One of the most significant improvements over the Ledger Nano S is Bluetooth connectivity. This allows you to connect the device to your mobile phone and use it on the go, which separates the Nano X from the Nano S. If you travel often, this addition may be well worth your money. It can also be connected to larger devices, such as laptops using the USB-C port.<\/p>\n\n\n\n
    The device can sustain 8 hours of continuous use, which once again separates it from the Nano S, which requires a connection to a laptop or PC to be used. Along with a larger screen than the Nano S.<\/p>\n\n\n\n
    Along with the device, the box contains a USB-A to USB-C cable, a keychain strap, and 3 recovery sheets on which you can write your seed phrase.<\/p>\n\n\n\n
    What Is Ledger Live?<\/h3>\n\n\n\n
    Ledger Live is the official desktop and mobile app developed by Ledger. It is a simple interface that allows you to manage all your crypto assets in one place. Ledger Live is available for Windows, macOS, Linux, iOS, and Android.<\/p>\n\n\n\n
    Ledger Live connects to all Ledger devices, including the Nano X and Nano S. The functions that the software allows include; checking your account balances, receiving and sending cryptocurrencies and NFTs, deleting, adding, or managing your assets and accounts, buying and selling cryptocurrencies within the device through third-party services, and even staking your various cryptocurrencies (through third parties once again).<\/p>\n\n\n\n
    $\"\"$
    Ledger Live Portfolio. Source: CoinZodiaC<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X: Supported Coins And Connectivity<\/h2>\n\n\n\n
    Ledger Live supports over 5,500 different cryptocurrencies, including Bitcoin, Ethereum, and Binance Coin. The Ledger Nano X can also support up to 100 various applications (cryptocurrencies) simultaneously.<\/p>\n\n\n\n
    The Ledger Nano X can also connect to various wallets and platforms to enhance the user experience. Such connections include; MyEtherWallet, Metamask, Electrum, and 1inch.<\/p>\n\n\n\n
    Ledger Nano X: Is It Safe And The Security Features<\/h2>\n\n\n\n
    Ledgers are secured with a custom-built OS called BOLOS and a CC EAL5+ Certified Secure Chip. The French national cybersecurity agency, ANSSI, has also audited Ledger. There has not yet been a successful hacking attempt against the Ledger software, although in 2020, there was a data leak where personal information was retrieved, such as emails, postal addresses, and names.<\/p>\n\n\n\n
    All hardware wallets, not just Ledger devices, are secured using a seed phrase. This 24-word recovery phrase is given to you when setting up the actual device; make sure to take note of it on all 3 of your recovery sheets given to you with the Ledger Nano X. These random English words allow anyone to access the device, not just yourself, so it is vital to protect your recovery phrase and never share it with anyone.<\/p>\n\n\n\n
    The Ledger Nano X also requires a 6-digit pin code to get inside the device, which is needed every time the wallet turns off and back on or if the wallet goes to sleep. The Ledger Nano X also contains a secure element (SE) requiring consent for any action taken with the device. This is confirmed by simultaneously pressing the two buttons on either side of the device.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n\n\n\n
    $\"Ledger$
    Ledger Nano X Security Features. Source: Ledger<\/figcaption><\/figure>\n\n\n\n
    Ledger Nano X FAQs<\/h2>\n\n\n\n
    What Happens If You Break Or Lose Your Ledger?<\/h3>\n\n\n\n
    Breaking your Ledger or losing the device doesn't bring the coins into the void along with the device. When you set up your wallet, you should've made multiple copies of your secret phrase - this phrase allows you to purchase another wallet and restore your account.<\/p>\n\n\n\n
    This is because the assets are stored on the blockchain, and if you can verify that the assets are yours, you should control what happens with them - so you can restore them!<\/p>\n\n\n\n
    $\"Example$
    An example 24-word recovery phrase. Source: Unchained Capital<\/figcaption><\/figure>\n\n\n\n
    How Does The Bluetooth Connectivity Of The Ledger Nano X Work?<\/h3>\n\n\n\n
    Ledger Nano X's have built-in Bluetooth, which can be enabled or disabled as the user pleases. Bluetooth connectivity is excellent for those who travel often. Still, there is often scrutiny around the technology as it may pose a potential threat to users with the potential of an interception by a hacker. In turn, Bluetooth is encrypted end-to-end and poses no additional security threats.<\/p>\n\n\n\n
    How Do I Set Up My Ledger Nano X?<\/h3>\n\n\n\n
    Firstly, install the Ledger Live software. Once done, you can plug in your Ledger Nano X to your device and follow the instructions provided by the software, which will guide you through the entire process - make sure to follow the instructions.<\/p>\n\n\n\n
    You can purchase the Ledger Nano X here<\/a>. Using this link supports The Distributed.<\/em><\/p>\n","post_title":"Ledger Nano X 2023 Review - A Remarkable, Secure Hardware Wallet","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ledger-nano-x","to_ping":"","pinged":"","post_modified":"2023-03-26 21:44:11","post_modified_gmt":"2023-03-26 10:44:11","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=10325","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3724,"post_author":"1","post_date":"2022-03-03 17:45:52","post_date_gmt":"2022-03-03 06:45:52","post_content":"\n
    Table Of Contents<\/h2>
    What Is Distributed Ledger Technology (DLT)?<\/a><\/li>
    Distributed Ledger Technology (DLT) Explained<\/a><\/li>
    How Does DLT Track Data?<\/a><\/li>
    How Is Distributed Ledger Technology Used?<\/a>
    Decentralized Use Cases Of DLT<\/a><\/li>
    Centralized Use Cases Of DLT<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n
    What Is Distributed Ledger Technology (DLT)?<\/h2>\n\n\n\n
    A distributed ledger is an agreement of replicated, shared, and synchronized digital data spread across multiple sites, countries, and institutions.((UK Government Office For Science - Distributed Ledger Technology: Beyond Block Chain<\/a>)) A ledger is used to record the ins and outs of a system, allowing for complete traceability of transactions.<\/p>\n\n\n\n
    It is important to note that the term 'blockchain' and 'distributed ledger' are not interchangeable. All blockchains use distributed ledgers, but not all distributed ledgers use blockchain technology. <\/p>\n\n\n\n
    Distributed Ledger Technology (DLT) Explained<\/h2>\n\n\n\n
    There are two main types of distributed ledgers; being permissioned and permissionless. The kind of ledger being used sets the protocol<\/a> for who can and cannot validate transactions within a network.<\/p>\n\n\n\n
    A permissionless ledger is a decentralized public and shared ledger. Anyone who wants to join the network can do so, the best example being Bitcoin making public ledgers more decentralized. For the data on a decentralized ledger to be attacked, all copies distributed on the network must be attacked simultaneously.<\/p>\n\n\n\n
    While a permissioned ledger is a private and single ledger, anyone who wants to join the network can do so as long as they are approved before joining, making private ledgers more centralized. Due to their single point of failure, these\u00a0digital ledgers are more prone to cyber-attacks and fraud. <\/p>\n\n\n\n
    However, a decentralized ledger is never under the control of a single entity. Through a network of participants called nodes<\/a>, a copy of the ledger is independently updated through the set protocol every few seconds, ensuring all nodes are working from the same source of the truth. Once data is stored within the network, it becomes an immutable record.<\/p>\n\n\n\n
    All peers<\/a> of a distributed ledger are seen as equal, with not one node having a more significant say in any decision-making. Instead, decisions are met through a general agreement called consensus. These consensus<\/a> algorithms are nodes that verify and agree upon records posted on the ledger in real time.<\/p>\n\n\n\n
    DLT uses a set of mathematical algorithms called cryptography to ensure that all data is securely stored. Data can be accessed through a public copy of the ledger or cryptographic signatures called keys. Once data, such as transaction records, are stored within the system, they cannot be changed or deleted.<\/p>\n\n\n\n
    How Does DLT Track Data?<\/h2>\n\n\n\n
    Distributed Ledger Technology tracks data by using blocks within a chain of blocks - hence the name blockchain. Blockchains contain a ledger of transactions between peers within the network. Each building block includes the previous block's data within the chain which links them to each other. Every block being somewhat related to every different block secures the network. A malicious attacker would have to go back and change every block to get to the newest block to falsify a transaction.<\/p>\n\n\n\n
    How Is Distributed Ledger Technology Used?<\/h2>\n\n\n\n
    Decentralized Use Cases Of DLT<\/h3>\n\n\n\n
    Distributed ledger technology is utilized by blockchains for various use cases such as;<\/p>\n\n\n\n
    \n
    Smart Contracts<\/a><\/li>\n\n\n\n
    Decentralized Applications (dApps<\/a>)<\/li>\n\n\n\n
    Decentralized Finance (DeFi<\/a>)<\/li>\n<\/ul>\n\n\n\n
    Centralized Use Cases Of DLT<\/h3>\n\n\n\n
    The use of distributed ledger technology can allow for a central authority like governments and public sector organizations to minimize fraud, increase data security and streamline various processes((ConsenSys - Blockchain in Government and the Public Sector<\/a>)) in industries such as;<\/p>\n\n\n\n
    \n
    Central banks and financial institutions<\/a><\/li>\n\n\n\n
    Financial services<\/li>\n\n\n\n
    Government agencies<\/li>\n\n\n\n
    Security and cyber defense<\/li>\n\n\n\n
    Farming and agriculture<\/li>\n\n\n\n
    Music and entertainment<\/li>\n\n\n\n
    Supply chain management and delivery<\/li>\n\n\n\n
    Data controls<\/li>\n\n\n\n
    Mining industry<\/li>\n\n\n\n
    Education<\/li>\n<\/ul>\n","post_title":"Distributed Ledger Technology (DLT)","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"distributed-ledger-technology","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-blockchain-protocol\/\nhttps:\/\/www.thedistributed.co\/what-are-nodes\/\nhttps:\/\/www.thedistributed.co\/peer-to-peer-p2p\/\nhttps:\/\/www.thedistributed.co\/consensus-mechanisms\/\nhttps:\/\/www.thedistributed.co\/smart-contracts\/","post_modified":"2023-01-19 22:29:48","post_modified_gmt":"2023-01-19 11:29:48","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3724","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    Ledger Nano X 2023 Review – A Remarkable, Secure Hardware Wallet
    
    The Ledger Nano X is among the most highly regarded cryptocurrency wallets. It is the second hardware wallet introduced by ...
    
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    Table Of ContentsWhat Is Distributed Ledger Technology (DLT)?Distributed Ledger Technology (DLT) ExplainedHow Does DLT Track Data?How Is Distributed Ledger Technology ...
    
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