OKX Blockchain 60 Lectures | Episode 13: What is a Distributed Ledger?

"OKX Blockchain 60 Lectures" is a blockchain educational animated video jointly produced by OKX & Sina Tech. Designed for users with zero blockchain knowledge, it uses series articles, educational animations, and other formats to explain blockchain concepts vividly from the perspectives of concepts, technology, and applications through 5 major sections and 60 knowledge points. The content of this episode was completed under the guidance of mentor Shentu Qingchun, CEO of Yinlian Technology.

Hello everyone, I'm Little K. Today we're going to talk about: "What is a distributed ledger?"

The distributed ledger is one of the four core technologies of blockchain. If cryptography is the cornerstone of blockchain, then the distributed ledger is the skeleton of blockchain. Simply put, a distributed ledger is a data storage technology, a decentralized distributed database.

Note, there are two points here that need explanation: one is "decentralization" and the other is "distributed".

Let's talk about "distributed" first. Distributed means spreading out data storage. Like many internet companies in the early days, they would store all our information in one large database. The data information was relatively centralized, belonging to a centralized database. Once this database had a problem, it would cause serious consequences such as downtime and inability to use.

Later these companies realized this wouldn't work, the risk was too great. So they spread data across multiple databases to store it together. Even if one had a problem, the other databases could take its place and continue running, ensuring the normal operation of the entire company's products. And this technology of spreading out data storage is a distributed database.

Of course, almost all companies now use distributed databases.

Blockchain's distributed ledger is also a distributed database. Some friends might ask, what's the difference between blockchain's distributed ledger and the distributed databases used by giant companies?

This brings us to the second point "decentralization." Blockchain's distributed ledger is a more special type of distributed database. The difference between it and the distributed databases used by traditional giants is that blockchain is decentralized, while traditional giants are centralized.

Let's take an example. If we compare the database to a ledger, the centralized database used by traditional giants is like having many copies of this ledger, spread out to store data together. But no matter how distributed they are, all ledgers are maintained and managed by the traditional giant company alone. Others have no permission to enter.

When users want to view historical data, they all have to connect to their central server and send requests. Once these centralized giants want to do something with your data, you're powerless.

The decentralized database used by blockchain connects individual databases to form a large distributed database. Each database has the same permissions, can view and store all data.

Compared with centralized databases, blockchain's distributed ledger spreads out the maintenance power of the "ledger" as well. The ledger is no longer concentrated in the hands of giant companies alone, but concentrated in everyone's hands. Everyone has the same permissions, can hold a copy of the "ledger," and every transaction is recorded together by everyone. After a period of time, everyone gathers to reconcile the ledger. Once someone tampers with historical records, it's immediately discovered by everyone.

In addition, this ledger is completely open to everyone. If you want to participate, as long as you get permission from the blockchain network, you can become one of its nodes.

The benefits brought by distributed ledgers go beyond just avoiding single points of failure and reducing the chance of network attacks or information loss. It also gives blockchain its decentralized characteristics, preventing data from being concentrated in the hands of centralized giants and stopping giants from using your data for evil. It makes "users controlling their own data and deciding how their data is used" a reality.

In summary, the distributed ledger is like the soul of blockchain. In today's big data era, situations where centralized giants use data for evil are everywhere. I hope blockchain can be like a warrior, cutting through thorns and thistles, and putting an end to the current chaos of data.

Thanks to Teacher Shentu Qingchun for his help and guidance with this episode's content.

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