BanccChain™️ Blockchain relies on the creation of peer-to-peer distributed networks, which do not require a central authority to facilitate transactions. Network participants, which are known as “peers,” are able to interact and transact directly with one another. All of the transactions between peers are recorded on a continuous ledger. Each network participant maintains their own separate and identical copy of this ledger. This means that the greater the number of peers participating in the network, the more redundant and more secure the ledger becomes. Peer-to-peer distributed networks are decentralised by design, with no central server or authority.