A flag ledger is a type of ledger that is used to signal a specific status or condition. In the context of blockchain technology, a flag ledger is typically used to indicate whether a transaction or other action should be allowed to proceed. For example, a flag ledger might be used to indicate whether a transaction is valid or whether a specific action should be allowed to take place. Flag ledgers are often used in conjunction with smart contracts and other blockchain-based systems to enable more complex and automated processes.

Example:

“The flag ledger was used to signal whether the transaction was valid or not, and if it was deemed invalid, the smart contract automatically cancelled the transaction.”