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Ledger
The basics

Ledger

A record of transactions and events. While all financial institutions have ledgers, in blockchain the ledger is shared across all participants. The information is visible to everyone connected to the network, but no individual has control over it.

TradFi equivalent
In traditional finance...
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TradFi equivalent
A general ledger. Every institution maintains one as a running record of every transaction, balance, and event. In blockchain, it is shared, synchronized, and verified across a decentralized network, with no single owner.
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Analogy
In everyday terms...
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Analogy
A scoreboard at a sporting event. Everyone sees the same score at the same time, and outside parties like ESPN report from it rather than keeping a separate count. Blockchain works the same way: once something is recorded, it becomes the source other systems rely on.
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