The difference between the centralized ledger and distributed ledger explained

Ledger can be defined as a book where records of financial transactions of any given organization are kept . You can call it a register in a college or school setting. Ledgers have been important for any economic transaction since ancient times. They have helped to initiate payments, move property and assets, record contracts and sell or buy deals. The journey started with the recording of important financial information on clay tablets and has managed to pass through generations up to being recorded on paper. The invention of the computer has helped to store financial data electronically and this has made things even easier . There have been a lot of innovations and storing of financial data on computers is taking a different path now. Technology has led to fast, decentralized and cryptographically secured ways to be used. Centralized ledger This is also known as the general ledger. This ledger holds all accounts for recording different transactions ...