Let’s take a moment to dispel some of the myths and common misconceptions about Integra Ledger. The most common being crypto.
Yes, Integra Ledger is a blockchain, but it is not cryptocurrency. The trust, transparency, security, and efficiency of blockchain technology makes cryptocurrency possible, but just because you are using blockchain technology doesn’t mean you’re using cryptocurrency.
It’s not an application either. Apps are computer programs, whereas Integra is a new technology infrastructure. It’s a foundation for digitally trusted data. You use it to enhance the software you’re already using, adding the ability to authenticate documents and contracts, which then enables new types of automation between law firms and companies - even if they are using different software.
Integra is not a cloud. A cloud is a centralized server that stores documents and contracts, and Integra doesn’t store documents and contracts. The only data stored on Integra Ledger are the hashes, or digital fingerprints, of the documents and contracts.
The Integra Ledger blockchain isn’t hosted by Integra. It is hosted by the legal industry itself. Major organizations host nodes of Integra Ledger. Each node contains a complete ledger of all the document and contract hashes that organizations around the world have recorded on the blockchain. Then, the software that runs Integra Ledger makes sure that every node is synchronized with the same information. This makes it very secure and redundant. Even if there is a problem with one of the nodes, there are many others to ensure data integrity.
So, Integra Ledger is just the software that runs a global data trust and integrity network, hosted by the legal industry itself. Your documents, contracts, and data stay with you. You use Integra to ensure the authenticity of your legal data, and the distributed nodes of Integra Ledger ensure the integrity of those digital authentications.