The main characteristic of distributed ledger technology (DLT) is its decentralized nature, allowing multiple parties to share and maintain a common database securely. Unlike traditional databases managed by a central authority, DLT ensures that all participating nodes validate and record transactions, enhancing transparency and security. This technology underpins systems like blockchain, which provides an immutable record of transactions, making it ideal for applications in finance, supply chain management, and other industries requiring trust and accountability.