A ledger is a record of all the financial transactions within a company or organization that cannot be changed. In the crypto world, a ledger is also known as a record-keeping system. It keeps a track of all the transactions that are taking place.

In a ledger, the identities of the participants always remain anonymous. Since the ledger remains decentralized, it can never be managed by a single governing body. Once a block is completed in the network, a new one is added to the ledger. The other network participants also retain a copy of the same.