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Is the blockchain totally different from banking ledger?



Is the blockchain totally different from banking ledger?..

Answer / Md. Faizan Khan

A traditional banking ledger is a physical or digital record of financial transactions maintained by banks. Each transaction is recorded individually, and the bank acts as a trusted third party to reconcile and validate those transactions. In contrast, blockchain is a decentralized, distributed ledger where multiple parties maintain copies of the same transaction data. Transactions are verified through complex algorithms, reducing the need for a central authority.

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