A ledger is a book where we keep a record of transactions and finances for a company, business, or individual. The ledger includes data like transaction amount, date/time of the transaction, from whom, to whom, and a short description. Like this:

Ledgers are classified into the following categories.

General Ledger

General Ledger is a centralized (controlled under central authority) record-keeping system used to keep all financial transaction data in one place.

Distributed Ledger

Distributed Ledger is a decentralized (controlled under multiple participants) record-keeping system that allows multiple participants to have a copy of the ledger and update it in real time.

Now we will discuss more distributed ledger technology (DLT)

Distributed Ledger Technology (DLT)

Distributed Ledger Technology (DLT) is a decentralized database that allows multiple participants to share, store, and update information in real time. Network participants can agree on the ledger's state without relying on a central authority. Each participant(node) of the network participates in the distributed system. Each of them knows the ledger as they have an exact copy like other network nodes.