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Answers to the most frequently asked questions about Blockchain and Distributed Ledger Technology. We've made this resource to help you understand what this technology is all about.

Beginner

What is Blockchain?

Blockchain is a method of storing and transferring information and data between many actors in one network. It is one example of Distributed Ledger Technology. The information and data are verified through a consensus mechanism, which makes the information credible as you trust the network rather than a single individual. It provides a method in which there is a traceable history of all information created on the network.

What is Distributed Ledger Technology?

Distributed Ledger Technology is the ability to create a ledger that all actors of a network can access, unless a permissioned network, with real-time updates. The technology provides a traceable history of the consensus that takes place on the network. A DLT provides trust within a network of actors that require simultaneous editing or sharing of information while maintaining homogeneousness, assuming the network is permissionless.

What is the difference between Blockchain and a distributed ledger?

Most simply, most blockchains are distributed ledgers but not all distributed ledgers are blockchains.   Blockchains are made up of a series of blocks of information and/or data that are linked by a hash and the hash of the previous block. Blockchains required a method of consensus for the information and/or data to be credible.   Distributed ledgers do not necessarily have to store information and/or data in blocks. Instead distributed ledgers primarily store a record of the consensus that occurs on the network that changes the overall state of the ledger.  

How is DLT a better solution than a traditional database?

Traditional databases stored on a server are centralised. Consequently, it means that if the server fails then the database will fail. In addition, if the data is hacked by a malicious actor then they have access to all the data.   However, a blockchain solution has the advantage of being storing data in a decentralised manner. This means that the failure of one node, or one actor, has little to no impact on the rest of the network. It is near impossible for enough nodes to fail at once in order to compromise the system. Subsequently, this means the attack of one node would only result in a small portion of the data.   In addition, DLT solutions are faster and require little bandwidth, unlike a centralised server.

What’s the difference between a 'permissioned' and 'permissionless' network?

Blockchains can be permissioned, in which only some actors have access to all the information, or permissionless, in which all actors have access to all the information. A permissionless network means that connected nodes can always access the updated ledger.  A permissioned network means that only some actors can access all the information stored on the updated ledger. Other actors will only be able to partially view the data or information stored on the ledger.  

What is a Distributed File System?

Distributed File System (DFS) provides the sharing of files across the network; it prevents the common problem of bloating. Nodes can pick and choose what information/data they want to hold, which information is relevant for them, and then request access to other files from the seed node should they require that information/data.

What is Distributed File System used for?

DFS enables a network to prevent bloating but retains a secure system for data/information storage. The distributed nature of the system means that there cannot be a single point of failure because many nodes hold the information across the network.   The data/information can be verified if uploaded to the ledger through the consensus mechanism. For a network made up of many actors, DFS creates a level of transparency and credibility concerning the data/information, which enables trust between the actors.

What is Cryptocurrency?

Cryptocurrency is a token of value that is associated with and exchanged between users on a specific blockchain. It is used by actors of the network to perform actions on the blockchain, such as payment to send a transaction as part of a reward or incentive for validators.

What is a Smart Contract ?

Smart contracts are a method of performing a transaction once certain user stipulated requirements have been fulfilled. An example could be, a smart contract for a product that is being tracked on the blockchain, if the product arrives before a certain date then the user will automatically through. 

Intermediate

What is Blockchain?

Blockchain is a method of storing and transferring information and data between many actors in one network. It is one example of Distributed Ledger Technology. The information and data are verified through a consensus mechanism, which makes the information credible as you trust the network rather than a single individual. It provides a method in which there is a traceable history of all information created on the network.

What is Distributed Ledger Technology?

Distributed Ledger Technology is the ability to create a ledger that all actors of a network can access, unless a permissioned network, with real-time updates. The technology provides a traceable history of the consensus that takes place on the network. A DLT provides trust within a network of actors that require simultaneous editing or sharing of information while maintaining homogeneousness, assuming the network is permissionless.

What is the difference between Blockchain and a distributed ledger?

Most simply, most blockchains are distributed ledgers but not all distributed ledgers are blockchains.   Blockchains are made up of a series of blocks of information and/or data that are linked by a hash and the hash of the previous block. Blockchains required a method of consensus for the information and/or data to be credible.   Distributed ledgers do not necessarily have to store information and/or data in blocks. Instead distributed ledgers primarily store a record of the consensus that occurs on the network that changes the overall state of the ledger.  

How is DLT a better solution than a traditional database?

Traditional databases stored on a server are centralised. Consequently, it means that if the server fails then the database will fail. In addition, if the data is hacked by a malicious actor then they have access to all the data.   However, a blockchain solution has the advantage of being storing data in a decentralised manner. This means that the failure of one node, or one actor, has little to no impact on the rest of the network. It is near impossible for enough nodes to fail at once in order to compromise the system. Subsequently, this means the attack of one node would only result in a small portion of the data.   In addition, DLT solutions are faster and require little bandwidth, unlike a centralised server.

What’s the difference between a 'permissioned' and 'permissionless' network?

Blockchains can be permissioned, in which only some actors have access to all the information, or permissionless, in which all actors have access to all the information. A permissionless network means that connected nodes can always access the updated ledger.  A permissioned network means that only some actors can access all the information stored on the updated ledger. Other actors will only be able to partially view the data or information stored on the ledger.  

What is a Distributed File System?

Distributed File System (DFS) provides the sharing of files across the network; it prevents the common problem of bloating. Nodes can pick and choose what information/data they want to hold, which information is relevant for them, and then request access to other files from the seed node should they require that information/data.

What is Distributed File System used for?

DFS enables a network to prevent bloating but retains a secure system for data/information storage. The distributed nature of the system means that there cannot be a single point of failure because many nodes hold the information across the network.   The data/information can be verified if uploaded to the ledger through the consensus mechanism. For a network made up of many actors, DFS creates a level of transparency and credibility concerning the data/information, which enables trust between the actors.

What is Cryptocurrency?

Cryptocurrency is a token of value that is associated with and exchanged between users on a specific blockchain. It is used by actors of the network to perform actions on the blockchain, such as payment to send a transaction as part of a reward or incentive for validators.

What is a Smart Contract ?

Smart contracts are a method of performing a transaction once certain user stipulated requirements have been fulfilled. An example could be, a smart contract for a product that is being tracked on the blockchain, if the product arrives before a certain date then the user will automatically through. 

Advanced

What is Blockchain?

Blockchain is a method of storing and transferring information and data between many actors in one network. It is one example of Distributed Ledger Technology. The information and data are verified through a consensus mechanism, which makes the information credible as you trust the network rather than a single individual. It provides a method in which there is a traceable history of all information created on the network.

What is Distributed Ledger Technology?

Distributed Ledger Technology is the ability to create a ledger that all actors of a network can access, unless a permissioned network, with real-time updates. The technology provides a traceable history of the consensus that takes place on the network. A DLT provides trust within a network of actors that require simultaneous editing or sharing of information while maintaining homogeneousness, assuming the network is permissionless.

What is the difference between Blockchain and a distributed ledger?

Most simply, most blockchains are distributed ledgers but not all distributed ledgers are blockchains.   Blockchains are made up of a series of blocks of information and/or data that are linked by a hash and the hash of the previous block. Blockchains required a method of consensus for the information and/or data to be credible.   Distributed ledgers do not necessarily have to store information and/or data in blocks. Instead distributed ledgers primarily store a record of the consensus that occurs on the network that changes the overall state of the ledger.  

How is DLT a better solution than a traditional database?

Traditional databases stored on a server are centralised. Consequently, it means that if the server fails then the database will fail. In addition, if the data is hacked by a malicious actor then they have access to all the data.   However, a blockchain solution has the advantage of being storing data in a decentralised manner. This means that the failure of one node, or one actor, has little to no impact on the rest of the network. It is near impossible for enough nodes to fail at once in order to compromise the system. Subsequently, this means the attack of one node would only result in a small portion of the data.   In addition, DLT solutions are faster and require little bandwidth, unlike a centralised server.

What’s the difference between a 'permissioned' and 'permissionless' network?

Blockchains can be permissioned, in which only some actors have access to all the information, or permissionless, in which all actors have access to all the information. A permissionless network means that connected nodes can always access the updated ledger.  A permissioned network means that only some actors can access all the information stored on the updated ledger. Other actors will only be able to partially view the data or information stored on the ledger.  

What is a Distributed File System?

Distributed File System (DFS) provides the sharing of files across the network; it prevents the common problem of bloating. Nodes can pick and choose what information/data they want to hold, which information is relevant for them, and then request access to other files from the seed node should they require that information/data.

What is Distributed File System used for?

DFS enables a network to prevent bloating but retains a secure system for data/information storage. The distributed nature of the system means that there cannot be a single point of failure because many nodes hold the information across the network.   The data/information can be verified if uploaded to the ledger through the consensus mechanism. For a network made up of many actors, DFS creates a level of transparency and credibility concerning the data/information, which enables trust between the actors.

What is Cryptocurrency?

Cryptocurrency is a token of value that is associated with and exchanged between users on a specific blockchain. It is used by actors of the network to perform actions on the blockchain, such as payment to send a transaction as part of a reward or incentive for validators.

What is a Smart Contract ?

Smart contracts are a method of performing a transaction once certain user stipulated requirements have been fulfilled. An example could be, a smart contract for a product that is being tracked on the blockchain, if the product arrives before a certain date then the user will automatically through. 

Atlas City

What is Atlas City?

Atlas City builds software for clients who need to leverage decentralised technologies.

Catalyst

What is Catalyst?

Catalyst is an open source project led by the development team at Atlas City. Catalyst is a core protocol that encompasses a full stack of technologies

Is Catalyst permissioned or permissionless?

Catalyst can be used in both instances. It is primarily designed as a permissionless

What is Catalyst used for?

Catalyst is

How do I get started with Catalyst

Catalyst is

How do I start contributing to Catalyst

Catalyst is

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