Fundamentals

Corda offers a single, global, source of truth that can be shared by multiple untrusting individuals. Corda provides this by utilizing a distributed ledger A database of facts that is replicated, shared, and synchronized across multiple participants on a network. . DLT Distributed Ledger Technology. A type of database technology that enables a network of computers to maintain a shared and synchronized database. has the following characteristics:

• A distributed ledger is a database of facts that are replicated, shared, and synchronized across multiple participants on a network.
• A participant is known as an identity The representation of an entity within a single application network. This will be represented by an X.500 name that must be determined as unique within the application network. and represents a real-world entity An organization or individual that participates in one or more application networks that can provide attestation that they are whom they claim to be. within the context of an application network The set of all possible entities onboarded according to the rules of the network. Application networks enable people and businesses to interact with each other on Corda. .
• Each identity has a different view of the ledger, depending on the facts it shares.
• Identities that share a fact must reach a consensus An agreement that a proposed transaction is valid is required before you can add it to the ledger. before it is committed to the ledger.
• All identities always see the exact same version of any on-ledger facts they share.

You can learn more about the fundamental key concepts of Corda in the following sections:

• CorDapps
• Application Networks
• Chain of Trust