Distributed ledger technology, or DLT, is set to disrupt a number of different sectors — from the financial industry to the automotive industry. 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, distributed ledgers have no central data store or administration functionality.
Why DLT governance is crucial
For DLT networks, governance is crucial as it guides the improvement of the underlying technology, and protects it against risks such as malicious security attacks. Good governance for DLT networks ensures the right mechanisms are in place to reach consensus, and that the right incentives are in place to maintain this consensus. But what is consensus?
