Ledger

A comprehensive record of all financial transactions within an organization. It systematically documents every debit and credit entry, categorizing them into accounts such as assets, liabilities, revenues, expenses, and equity. The primary purpose of a ledger is to provide an accurate and detailed account of all financial activities, enabling the preparation of financial statements and facilitating financial analysis and decision-making.

In the context of blockchain and cryptocurrencies, a ledger refers to a decentralized and distributed digital record of all transactions on a particular blockchain network. This ledger is maintained by a network of nodes that validate and record transactions in blocks, ensuring transparency, security, and immutability. Each participant in the network has access to an identical copy of the ledger, which is continually updated and synchronized across the network. This decentralized ledger technology underpins the functionality and trustworthiness of cryptocurrencies like Bitcoin and Ethereum.