How is a blockchain ledger different from an ordinary one?

Asked 19-May-2022
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  • The blockchain ledger is a distributed and decentralised digital ledger system. The blockchain ledger is a digitized, decentralized, public ledger in which any account can be maintained by simply mentioning its source. It not only deters the centralised vision but also provides additional transparency, data integrity, and so on. Therefore Blockchain is an incorporation-able digital ledger of transactions programmed to record virtually everything.
  • An ordinary ledger, often known as a ledger, is a document that contains summary and grouped credit and debit information. In reality, any type of financial statement can be prepared using information from the regular ledger. Assets, revenues, liabilities, owner's equity, and expenses are typically included.
  • The chart of accounts refers to the entire list of accounts, and each active account represents the ledger. An ordinary ledger can also maintain track of a company's financial statement, including credit and debit transactions. As a result, a business can use this sort of ledger to keep track of all of its expenses and earnings, providing a comprehensive financial report.


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