A ledger is a computer file that is used to record transactions. A distributed ledger is a database that exists across several locations or among multiple participants. It is decetnralized in order to remove the need for a intermediary in order to validate, process or authenticate transactions. These records are confirmed only when consensus of all parties involved is reached. Cryptographic signature and timestamps are present in all files for security purposes. Additionally, all of the records are visible to the network participants at all times.