A ledger is a book or a digital record of all financial transactions.
A ledger is a digital record of all financial transactions, organized by date and time. It serves as a bookkeeping tool, allowing businesses and individuals to track their income, expenses, and assets. Ledgers can be used for a variety of purposes, including budgeting, tax reporting, and financial analysis. They are often maintained by accounting software or online services, such as QuickBooks or Binance.
A blockchain is a decentralized ledger that records all transactions made on a particular network. Each block in the chain contains a hash, which is a unique identifier that links it to the previous block. This creates a secure and transparent record of all transactions on the network, without the need for a centralized authority. Ledgers are a key component of the cryptocurrency ecosystem, enabling secure and efficient peer-to-peer transactions.