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In the last four years, the evolution and adoption of blockchain and, more generally, distributed ledger systems have shown the affirmation of many concepts and models with significant differences in system governance and suitable applications. This work aims to analyze distributed ledger technology (DLT) critically. Starting from the topical idea of decentralization, we introduce concepts and building blocks currently adopted in the available systems centering on their functional aspects anddoi:10.3390/cryptography5040036 fatcat:hy4432onvjhwdoqfa6hscx3e6q