Append-Only Structure

An append-only structure is a database design where new information can only be added to the end of the existing data, and existing information cannot be modified or deleted. This design is critical for financial ledgers because it creates a chronological, linear history of every event that has ever occurred.

In the context of derivatives, this means that every margin movement, trade execution, and liquidation is recorded sequentially and permanently. By prohibiting edits, the system ensures that the past remains fixed, which is a requirement for maintaining the integrity of complex financial states over time.

This architecture is the technical backbone that enables auditors and participants to verify the exact history of an asset without needing access to private database logs.