What is a Immutable Ledger and its benefits ?

What is a Immutable Ledger and its benefits ?

What is a Immutable Ledger

An immutable ledger is a blockchain technology that enables data to be written once and never modified or deleted.

Data is stored in a series of blocks which are linked together and secured through cryptography. This technology creates a permanent tamper proof record of the transaction which can be verified and audited by anyone.

An immutable ledger is ideal for data storage that is important and must be kept accurate and unchanged such as financial records, land titles or birth certificates. The technology is also used for secure voting and other digital government applications.

Where can we use immutable blockchain

An immutable ledger introduced in the blockchain that uses digital cryptography to solve the double spending issue of digital currency When we describe the blockchain as immutable, we mean the difficulty in making changes without approval Not that this necessary data cannot be updated. Blockchain immutability works very well with bitcoin and other digital currencies, yet other wedges can also use blockchain immutable ledgers, such as:

  • Money transfer
  • Protection of loyalty and copyright
  • Digital voting,
  • Food safety
  • Unchangeable data backup

Benefits of Immutable Laser

1. Security: Immutable ledger provides high level of security as the data cannot be modified or deleted, it helps in insuring the accuracy and integrity of the data.

2. Transparency: Immutable ledger is transparent as transactions are recorded and can be viewed by anyone. It helps in promoting accountability and trust among the participants.

3. Efficiency: Immutable ledger can help in videoing the time and energy required to verify and validate the transaction. This can help in improving the efficiency of the system.

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