[4] Distributed ledger data is typically spread across multiple nodes (computational devices) on a P2P network, where each replicates and saves an identical copy of the ledger data and updates itself independently of other nodes.
The primary advantage of this distributed processing pattern is the lack of a central authority, which would constitute a single point of failure.
[2] In 2020, Axoni launched Veris, a distributed ledger platform that manages equity swap transactions.
[10] The platform, which matches and reconciles post-trade data on stock swaps, is used by BlackRock Inc., Goldman Sachs Group Inc., and Citigroup, Inc.[11] A pilot scheme by the Monetary Authority of Singapore completed its first live trades using DLT in 2022.
The pilot by Singapore's central bank involved JP Morgan, SBI Digital Asset Holdings and DBS.
In the context of cryptocurrencies, distributed ledger technologies can be categorized in terms of their data structures, consensus algorithms, permissions, and whether they are mined.