A decentralized database that is shared and synced by a group of individuals across many sites, institutions, or countries is known as a distributed ledger. It permits public witnesses to be present during transactions. Each network node's member has access to and owns an exact replica of the records that are distributed throughout the network. Within a small amount of time, any modifications or improvements to the ledger are displayed and replicated to all participants. A distributed ledger differs from a centralized ledger, which is the most common form of ledger. Because of having a single point of failure system, a centralized ledger is more vulnerable to cyber-attacks and fraud.