The goal of this article is to help newcomers in the cryptocurrency space or anyone unfamiliar with the technology behind it to understand what Distributed Ledger Technologies (DLTs) are and why we need them. Therefore, I will try not to go too deep into the technical details of DLTs, but rather give an overview of the principles used. I know this is a long article, but I wanted to explain everything in one document so you don’t have to look in different places if you want to get a basic understanding. Feel free to skip parts you already know. It’s important to note, that I won’t discuss all possible attack vectors or every detail of the tech. This article should only be an introduction to the topic and the first stepping stone to dig deeper if it sparks your interest.
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