Glossary - ChicksX

Ledger is a record-keeping system for transactions and balances in financial systems, both traditional and blockchain-based.

Ledger is a foundational element in financial systems, used to record transactions and balances accurately. In traditional finance, it's a physical or digital book. It tracks all debits and credits within accounts. In blockchain, the ledger is distributed across multiple nodes, ensuring transparency and security. Each transaction is recorded in chronological order. This immutable and decentralized nature prevents unauthorized changes. Hence, it ensures accuracy and trust among participants. Understanding how ledgers work is crucial in both crypto and fiat exchanges. It builds confidence in the integrity of financial operations.