The technology that pushed Bitcoin and other cryptocurrencies into the public eye is a distributed ledger, better known as blockchain. This approach gives any entity that uses it an ongoing and dynamic transaction log. Over time, data is shared and compared to various other nodes, all of which continually have an up-to-date database copy. Auditing controls the adding of transactions to the database. By distributing transactions in this manner, you are able to remove single points of failure (SPOFs); prevent the controlling of the ledger from a single position; and verify all your transactions, with no need to utilize an independent service. All transactions are public, making it much less likely that the ledger is gamed to meet the needs of a nefarious party.