Technical Description of DLT for Conflicts Lawyers

Abstract

This chapter explains the basics of Distributed Ledger Technologies (DLTs) as well as the typical use cases of DLTs. It first examines three key technical elements of blockchains: block and chain structure, peer-to-peer and consensus algorithm, and cryptography as well as the distinction between permissionless and permissioned blockchains. Next, some use cases of blockchain, such as Bitcoin, securities, NFTs, and Electronic B/Ls are briefly examined.