According to Data Towards Science, “Every blockchain is a distributed ledger, but not every distributed ledger is a blockchain. Each of these concepts requires decentralization and consensus among nodes.”
iEthereum, an ERC20 token is an open source distributed ledger but not its own blockchain. The iEthereum network is currently lives on top of four open public blockchain technologies of Ethereum, Ethereum POW, Ethereum Fair and Pulsechain; leveraging the security and transparency that blockchains provide.
Again, it is important to note that not all distributed ledgers provide blockchain consensus. The consensus mechanism may vary amongst the many distributed ledger “cryptos” that exist in the marketplace today. Caution, Be Aware!
Importantly, iEthereum DOES USE blockchain for its consensus mechanism, unlike many others. This is very important for security and transparency as mentioned above.
iEthereum differs from many blockchains in that it utilizes the benefits of being a distributed ledger technology that couples with the security and transparency of being built on public blockchains for its consensus. Blockchains can be cumbersome, therefore, iEthereum can be described as a win win scenario in this debated regard.
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