Comparative Analysis of Distributed Ledger Technologies

Abstract

Distributed Ledger Technology (DLT) refers to a digital method for registering virtual transactions and other similar data in multiple locations simultaneously. The main characteristic of distributed ledgers is that they do not have a central administration component, due to advanced algorithms and methods used for record-keeping. Thus, transactions are faster and reasonable, as they do not require a central authority to validate them. The network is formed by multiple nodes through which the participant can access recordings, making the network become less vulnerable when referring to cyberattacks. After several years of technological development in this area, different distributed ledger technologies are available. This article presents Blockchain and Tangle technologies along with their main characteristics, in order to make an extended comparison of their approaches. In addition to this, the paper contains experimentation details and results for each technology presented.