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Table 1 Differences Between Blockchain-Based Accounting Method and Traditional Ledgers

From: The privacy protection mechanism of Hyperledger Fabric and its application in supply chain finance

Blockchain-Based Accounting MethodTraditional Ledgers
Decentralized; Distributed storage, each peer has the same ledgerCentralized; Each participant only saves its own ledgers
Traceable, each transaction is recordedUntraceable, whether the transaction is recorded or not is determined by the participant
Transaction records cannot be tampered after multiple verificationsEach participant is able to modify their own ledgers
Channel and Privacy Data Collections in Hyperledger fabric are designed to protect data privacyProtecting user’s privacy with a login password
Data sharing and privacy protection are both implementedData sharing is not implemented