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A distributed ledger is a decentralized digital record of transactions shared across multiple locations, ensuring transparency, security, and trust without the need for a central authority. Think of it as a synchronized, tamper-proof system where everyone holds a copy of the same data. A distributed ledger is highly resilient to data tampering because all changes are recorded across the network. Each update is verified by multiple participants.
Smart contracts are self-executing agreements with the terms of the contract directly written into code. They automatically enforce and execute actions once specific conditions are met, eliminating the need for intermediaries and ensuring trust and transparency. Smart contracts power applications like blockchain-based transactions, digital agreements, and decentralized platforms.
The Stellar Consensus Protocol (SCP) is a system used by the Stellar network to agree on transactions. Instead of relying on one central authority, SCP allows multiple computers (called nodes) to work together to confirm transactions quickly and securely. It ensures that all participants reach a common decision, even if some of the nodes act incorrectly or fail. This makes transactions faster, more efficient, and decentralized on the Stellar network.
Brasetz is designed to operate seamlessly on an independent blockchain, leveraging the decentralized nature of the network. By functioning on its own, without relying on external chains, Brasetz ensures full control over its transaction processing, governance, and security. This independence allows it to customize features, scalability, and consensus mechanisms tailored to its specific use cases, making it a robust and flexible system for digital asset management or decentralized finance (DeFi) applications.