1. What is Blockchain/Distributed Ledger Technology?
Distributed Ledger Technology (DLT), commonly simply called “Blockchain Technology”, refers to the technology behind decentralised databases providing control over the evolution of data between entities through a peer-to-peer network, using consensus algorithms that ensure replication across the nodes of the network.
More simply put:
Imagine a book (or ledger) that anyone could obtain, free of charge, where anything written on its pages would be there forever, and at the same time, would be cross-referenced with the other books to check whether what was written to be valid and true; this is the essence of DLT.
2. What is the difference between DLT and Blockchain?
Blockchain is a type of DLT, where unrelated transactions are collected into blocks which are strung together as part of a chain, using hashes, and are then (for the most part) broadcast to all participating parties for batch processing.
3. Why Distributed Ledger Technology?
Distributed Ledger Technology has granted us a framework with truly revolutionary properties that we need to create the right tools for the digitisation of identity and permanent certification of vital records.
4. Where can I find your White Paper?
We are most excited to show you! However, since we are still working on some minor details with regards to the economic model, you can read through this Extended Overview of our developments first and tell us what you think!
5. What other help is available?
You can reach us any time at email@example.com! Also, do not hesitate to contact any of the members of Tykn’s leadership on LinkedIn for specific and/or technical questions!