Based on the provided reference, several types of Distributed Ledger Technology (DLT) are mentioned, extending beyond just the commonly known blockchain.
Distributed Ledger Technology (DLT) is a digital system for recording the transaction of assets in which the transactions and their details are recorded in multiple places at the same time. Unlike traditional databases, DLTs are decentralized, offering enhanced transparency and security.
The reference highlights the following distinct types of DLT:
1. BLOCKCHAIN
Blockchain is perhaps the most widely recognized type of DLT. As stated in the reference, "It's one of the most popular types of DLTs out there." Its structure typically involves blocks of transactions linked together in a chain, secured by cryptographic principles. Examples include Bitcoin and Ethereum.
2. HASHGRAPH
Hashgraph is another architecture for DLT that differs from blockchain. The reference points out a key characteristic: "In Hashgraph there can be multiple transactions stored on the ledger on the same timestamp." This structure uses a 'gossip about gossip' protocol and a virtual voting system to reach consensus quickly and efficiently.
3. DAG (Directed Acyclic Graph)
The DAG represents "Another ambitious addition to the distributed ledger without the blockchain family". Unlike the linear chain of blocks in blockchain, a DAG structures data as a graph where transactions validate previous transactions directly. This can potentially lead to higher transaction throughput and lower fees. Notable examples include IOTA and Nano.
4. HOLOCHAIN
Holochain is mentioned in the reference as a type of DLT. It distinguishes itself by being agent-centric rather than data-centric, meaning each user maintains their own ledger.
5. TEMPO (RADIX)
Tempo, associated with Radix, is also listed in the reference as a type of DLT. It is designed for massive scalability and low transaction fees for DeFi (Decentralized Finance) applications.
While the question initially asked for "4 types," the provided reference lists five distinct types, showcasing the evolving landscape of distributed ledger technologies beyond just blockchain. Each type offers a unique approach to achieving consensus, storing data, and scaling operations.
Summary of DLT Types Mentioned:
| Type | Key Characteristic (from reference) | Structure Example |
|---|---|---|
| BLOCKCHAIN | One of the most popular types | Linked blocks of transactions |
| HASHGRAPH | Multiple transactions stored on the ledger on the same timestamp | Gossip protocol, directed graph |
| DAG | Addition to the distributed ledger without the blockchain family | Transactions linked in a directed graph |
| HOLOCHAIN | Mentioned as a type (specifics not in snippet) | Agent-centric ledger |
| TEMPO (RADIX) | Mentioned as a type (specifics not in snippet) | Designed for scalability (Radix) |
These diverse structures highlight the innovation happening within the DLT space, each aiming to solve different challenges related to scalability, speed, cost, and decentralization.
