Sublime

Accounts were always bound into ledgers for a similar reason: loose-leaf entries could easily be fabricated, but a ledger with numbered pages became tamper-proof.

These abstract concepts were expressed with new bookkeeping techniques: accounts had two sections, debit and credit, and each transaction was therefore entered twice, once on the debit side, once on the credit; ample cross references connected different customer or commodity accounts; a final financial result was summed out of the combined income;

Distributing the ledgers Adding new transaction to the ledgers Deciding which ledgers represents the truth

An individual ledger is used for maintaining information about ownership, which is equivalent to one blockchain-data-structure storing ownership-related data. The individual ledgers are stored on the computers (nodes) of a peer-to-peer system. The blockchain-algorithm is responsible for letting the individual nodes collectively arrive at one

Transaction data provide the mandatory information necessary to execute a transfer of ownership as intended. Executing a transaction means making the transfer of ownership happen as described by the transaction data. Executing a transaction means adding the transaction data to a ledger. By adding transaction data to a ledger, the transaction