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Public vs private blockchain: what is the difference?

The underlying similarity between public and private blockchain is that they are blockchains. However, both differ in application and accessibility. Learn about the main differences between these technologies.

The blockchain platform, also known as “chain of blocks”, is a technology that allows the transfer of digital data with sophisticated encryption and in a totally secure way. In recent years, many companies have integrated this technique and so far it seems that it will be essential in the future of digital networks.

Public blockchains and private blockchains are often confused by professionals as they have similar characteristics. For example, both are networks that share an immutable record of transactions. The real difference, on a technical level, is who has access to them.

Public blockchain

The public blockchain is an open network that allows anyone to participate in it. This network depends on the number of users for its correct operation, therefore, it motivates participation through an incentive system.

In this regard, Francisco Rosales, professor of the course Blockchain and disruption in the financial industry of the PEE of ESAN , mentions: “The level of participation within this is a decision of each one. This may involve very specific activities such as transaction verification or creating smart contracts. But it also involves more general activities, which have to do with the governance of the blockchain. For example, voting for or against a fork of the network. “

The best example of a public blockchain is Bitcoin , where users participate in the network (miners) and are rewarded with cryptocurrencies. It should be noted that this blockchain has a low speed of transnationality.

Private blockchain
In this case, only those who have permission can access it. Participation in a private block chain requires an invitation, which in turn must be validated by the network or through established security parameters.

“They arise as initiatives of private companies that seek to make use of the benefits of blockchain technology, but maintaining control over the network,” says professor Francisco Rosales.

In the case of private blockchains, these are generally built for business use. The reason is control, that is, they are controlled by a consortium of privileged users who can issue or deny permissions, alter rules, reverse transactions, and modify balances. Other reasons are that the validators are known to be trusted and that they have lower operating costs because the transactions are cheaper in terms of electrical power.

The rapid blockchain development company of licensed blockchains and the interest of large companies are accelerating the path for the development of more private blockchains. While the public ones have limited operability, the private ones have the power to revolutionize many aspects of everyday life.
What are the industries that benefit the most from Blockchain technology?
The cryptocurrency market has seen exponential growth throughout this year. In the case of Ethereum, purchase prices soared and went from having a value of USD $ 40 to reaching USD $ 320.

The cryptocurrency market has seen exponential growth throughout this year. In the case of Ethereum, purchase prices soared and went from having a value of USD $ 40 to reaching USD $ 320. For its part, Bitcoin has reached new limits within its own history, and there are at least 8 cryptocurrencies climbing positions.

While the value of cryptocurrencies and associated projects continues to grow, the technology behind these assets, Blockchain has begun to be implemented in the world of financial services, distribution chains, logistics, health, music and much more.

Blockchain technology represents a potential for what is the disjunction of any conceivable industry, in fact it is already being used by some federal entities, and some international entities such as the United Nations, and at least eight states in the United States have started to consider including Blockchain among its legislations.

As more organizations begin to investigate more about cryptocurrencies and the Blockchain, many more solutions related to this technology also begin to be created. The market is filling up with applications that have a high margin and usability. Many are being designed to make everyday life easier for users who buy, store and sell cryptocurrencies.

Now, when it comes to other industries, Blockchain development company is creating more than all applications that are used within financial services, payment methods. However, there are many companies that are exploring what other uses they can give the technology, such as IBM, Microsoft Goldman Sachs and Maersk.

Also, more than 80 businesses are already accepting Bitcoins as a form of payment and the list continues to grow. Among the best known names are XBox , and the Windows Store , some travel platforms such as Expedia, and online vendors such as Newegg. Other shopping platforms such as Etsy and Shopify are also starting to accept bitcoins, and Japan’s department store Marui began allowing payments in Bitcoins at one of its largest stores.

Decentralized technology also represents a leap forward in electronic security. Encrypted distribution services on Blockchain development company are the most advanced solution for the storage and use of private data, which means that many industries of health, information, identity protection and public are the next candidates to use the technology.

Companies like Civic are leveraging their high-security services by investing in Blockchain technology in order to leave users in control of all their personal information and letting other people access only when they allow it.

Developing decentralized search platforms is putting everything that is searching for information in the hands of users. Everything is achieved by facilitating direct connections between consumers and merchants, which makes third parties and intermediaries obsolete.

Allowing users to be in control of their own information is a significant shift towards much easier interaction with data for everyday life. Businesses will be able to establish contact with their customers in more effective ways, and in the future we may reach an economy based on cryptocurrencies that we can all enjoy.

The future of Blockchain

The use of Blockchain is increasingly robust in the financial and telecommunications industry. Its main attribute is a common social demand that we cannot stop analyzing: transparency. A technology that invites us to think about the future.

During the last couple of years, various media and publications ( including this blog ) have reported the growing progress that 
Blockchain development company has had within the Internet. As well as the various applications where this logic current could be widely applied. But it is not possible to talk about this technology without asking an established question within the medium: What now?

The current panorama

One of the main applications of Blockchain , and for which it has received the greatest focus in recent years, is undoubtedly Bitcoin, or cryptocurrency in general (Cryptocurrency). Which has allowed small and large economies to host a decentralized model and apply it in different areas of society. In which the maximum, or greatest goal for the user, is the final search for transparency.

This is how some of the main references of the model have been companies dedicated to the area of finance. Even so, it is also possible to know some cases within the area of health and even video games. The latter being an area where the cryptocurrency business has managed to change the paradigm in terms of work practices and models .

Hey, what about bitcoin?

Somewhere on this timeline — before Blockchain, after blockchain-; the currency, as we know it today, lost much of its initial popularity in finance. This is where Blockchain came to fill gaps with promises of clear business practices. We speak specifically of transparency. This is why market leaders, such as IDC , have calculated that by the year 2022, the investments made on this model could be around $ 11.7 billion dollars . Yes, billions.

It’s real, and it’s here

Maybe we don’t see it, maybe we don’t know, but it is possible that during the last week you have made use of Blockchain without realizing it. The places -virtual- where it is established in real life are several. Those that have had the greatest relevance are:

In the financial services sector, the Blockchain development application has managed to be adopted within the authorized risk assessment. As well as the guided management of commercial portfolios. Read: asset management.

A field that seemed so alien, such as theft and identity theft , has managed to be widely stopped. We owe our thanks to the biometric controls and the on-chain encryption application that Blockchain offers.

In health it is possible to see, every day, cases of total integration of medical records for their patients.

In marketing, the application of this is a fact. Companies like IBM have implemented their own BaaS (Blockchain as a service) usage model. As well as other large companies such as Walmart; that has implemented tracking of the production and distribution of its food

Baby blockchain

Within the summaries of the year 2019, it was possible to know the most critical view of senior finance executives in the web area.

just as Blockchain can incorporate new methods and even currents of thought within the web area; it is still unknown and uncertain, although no less exciting. Not knowing the possible evolution of the system itself; states that those doubts that are had about it, can become possible fields of growth and understanding of it.

So what’s next?

According to reports made in Forbes magazine , time is the primary factor to understand and meet the expectations raised by Blockchain development company. As well as the concept of decentralized Internet . The real and tangible impact that this could have is still unknown and highly speculative; But given the large number of applications jumping into the ocean of Blockchain, it is only a matter of time before it can finally penetrate every sector and every industry whose ideals are within its agenda. Transparency, again.

The similarities that they harbor with their first cousin: Digital transformation ; that with a limit of two years he managed to make this prediction a fact. As the transformation methods applied in global commerce continue, Blockchain seems to be the closest candidate within the evolution of digital transaction platforms. Finally being the main objective: Trust .

This is the reason for the quiet hype within the community about Blockchain. If Blockchain manages to meet the expectations raised by companies, it is possible that a future, not too distant, will cease to be a concept, and will become not only a fact; but also in the prevailing paradigm, in the dominant male. Although we all know the consequences of having a male in power.
5 Ways Blockchain Technology Will Change Business, Even In Developing Countries
5 ways blockchain technology will change business

Which is exactly blockchain ? We have told you before what it is about, but it is always worth remembering: it is electronically distributed records or a list of entries that are maintained by various participants.

Blockchain technology uses cryptography to process and verify record transactions. Encryption and encryption improve transparency, efficiency, and trust when sharing information.

Accounting

Accounting is a classic case study of how a business area can benefit from this new technology.

The challenges of managing the operation of some businesses , especially those multinationals, are enormous. In addition, precision and accuracy are required in this area to avoid any type of slippage that causes losses to the company. Blockchain technology can help all of this.

The transparency that blockchain offers gives visibility to all the transactions of all users approved to handle it, which allows having fewer auditors of the information.

This frees up time to focus on maintaining controls and investigating any anomalies. Also, accountants could use blockchain for some processes and thus expand their services to areas such as cybersecurity and sustainability.

Never expected areas are using blockchain technology for the security it offers , for example, lotteries in the United States will offer anonymity and confidentiality to participants and providers. For example, one of the lotteries will use blockchain to record and distribute the winnings, using the infrastructure and the Ethereum currency for this.

Advertising and marketing

Juniper Research anticipates that advertisers will lose an estimated $ 19 billion due to fraudulent activity in 2018. This equates to $ 51 million per day.

These figures, which reflect spending on online and mobile advertising, would reach $ 44 billion by 2022 .

But blockchain can dramatically reduce click fraud , making sure advertising and marketing executives get their target markets.

Using this technology it is possible to monitor how the budget is used , tracking the investment from its initial transfer to the media budget to the final publication of creative communications, thus reducing the risk of overspending and underperforming.

Human Resources

Professionals in this area plan, direct and coordinate the recruitment, evaluation and hiring of new personnel.

Likewise, they consult with senior executives in their strategic planning and often manage employee relations, as well as work related to compensation, benefits and training.

A lot of technology is used for all this . And blockchain could be a new way to modernize the entire human resource management process.

With this new technology HR professionals could quickly verify the credentials of job candidates as well as existing employees. Systems on the blockchain could reduce the possibility of third parties providing inaccurate data about a candidate or an employee.

It could also affect payroll , especially for multinational corporations or businesses with foreign employees. This technology allows you to easily handle back-end work to simplify and standardize payments in multiple currencies.

In fact, there are even investors who are helping employees invest in cryptocurrencies such as Bitcoin, Litecoin, Ethereum, Ripple, and others to improve their retirement plans.

Cybersecurity and information technology

The different security breaches we have seen in recent years, including Uber , Yahoo, Target, Equifax, among many others, cause millions of data to be in the hands of malicious hackers.

With blockchain there is great potential to revolutionize this area . This technology can provide transaction records at the digital level, in a way that is secure, transparent, auditable and efficient.

Even the US Department of Defense is considering using blockchain for the security it offers.

Handling and operations

Companies with as much history as Eastman Kodak are leveraging blockchain to enter new areas to keep them alive, after their core business (in this case, analog photography) became irrelevant in our digital age.

Thus, the company created a management platform , KODAKOne , which creates a digital, encrypted copyright record. Photographers can register new and archived work, then provide a license that can be obtained through the platform. The system allows professionals to obtain secure payment when selling licenses for their work.

Another example of use is occurring in emerging markets . NagriTech is a global organic farming company. It launched a cryptocurrency to facilitate financial transactions in nations whose high rates of inflation and devaluation of their currency make it difficult for farmers and producers to obtain credit.

The main markets for Blockchain development company , among others, Brazil, India, Mexico and Peru, suffer from inflation and its effects. In these countries, agricultural producers experience economic shocks depending on the price of the dollar or the euro. But with blockchain and the use of cryptocurrencies this situation could change.

Future Blockchain: Six Use Cases Today
Blockchain technology continues to gain popularity day after day. Only the massive phenomenon that the internet brought about in the 1990s is comparable to the social impact that this technology is having.

In the year 1998 there were a million users on the Internet. Today it exceeds 4 billion, which represents more than 50% of the world's population. Blockchain currently exceeds three million users, 0.5% of the world population.


We are still far from a widespread implementation of Blockchain. Even so, in many sectors the important advantages it offers are already being exploited. Being a peer-to-peer (P2P) network within a system, the time and costs of intermediaries are considerably reduced. This possibility of eliminating intermediaries greatly facilitates its viability and implementation, as a need that society has been demanding for some time when making transfers of any kind. The structure of our system places small competitors and companies at a great disadvantage that, through this decentralized system, achieve a much more equal position in their favor.

The particularity of relying on this technology means that the content of the blocks added to the chain can be consulted by anyone at any time, and whose information cannot be deleted or modified. Blockchain simplifies the transaction system by eliminating intermediaries and incorporates an important added value: total transparency.


The exponential growth of Blockchain development has resulted in, and because of, a large number of startups working on developing platforms or solutions that use Blockchain. Large companies and even governments of some states are joining these initiatives, trying to be pioneers in their application on new uses.

The rise of cryptocurrencies in 2017 gave a boost to the fame of Blockchain, hand in hand with Bitcoin, Ethereum or Ripple. Now, companies are looking to expand its use by taking it to fields such as logistics, authentication or smart contracts. Next, we will discuss some of the most important uses that are being given to this technology.

Health

Through the Blockchain development of applications for health care, Blockchain is postulated as one of the main tools that can help reduce wasted time on a day-to-day basis. Thus, information on the status of a patient can be collected through this system and a historical record of all patients can be kept.

Feeding

Important companies in the sector such as Walmart are developing food safety applications, through which consumers can learn about the process a food has gone through until it reaches their hands.

The American company Corporation Cargill has been one of the pioneers in using the Blockchain system in food. On November 23 of last year, Thanksgiving, they introduced codes printed on the turkeys, so that any consumer could consult all kinds of details about the product in front of them.

Transport and logistics

The use of Blockchain in this area provides an improvement in information flows throughout the logistics chain. The enormous complexity that usually accompanies these systems makes the entry of this technology even more favorable, thanks to the automation of processes, the reduction of administrative and customs procedures and the reduction of fraudulent activities.

It is true that in this area it is proving costly and slow, but the introduction of this technology is already being noticed and promises to revolutionize the concept of transport and logistics in the next decade. The Bosch-led consortium has been running for more than a year and has already incorporated blockchains into logistics supply. At an international level, there are also different use cases such as port operations that involve enormous complexity or to increase security in the transfer of containers and waste.

Government and democratic processes

The cryptographic function provided by these blockchains represents a historic advance in data security and integrity. Different initiatives are betting on revolutionizing the internal system of governments by automating fiscal tasks. Security systems have also been implemented in electoral areas, being used for the counting of votes.

Smart contracts

This is one of the greatest advances that this technology has provided us. Smart contracts are digital agreements backed by blockchains and work as a "cause-effect", where, for a contract to be executed, you must previously meet some requirement.

LegalTech

But, without a doubt, LegalTech technology is the one that has most revolutionized the legal field. Many entrepreneurs have created projects that attract the attention of investors. It is startups that are taking over this ecosystem, and from Cysae, we have already taken the initiative and incorporated LegalTech tools into our systems, such as Stamper . From privacy and cybersecurity to advice on contracting with the provision of Blockchain technology: LegalTech tools promise to revolutionize the sector, either through applications based on big data or the automation of processes, generation and correction of contracts, or software to reduce tedious paperwork.

Soon, this system will be present everywhere, from loans between individuals to financial transparency, giving greater control to people day by day and strengthening cybersecurity in all areas. It seems that this Fourth Industrial Revolution is not even going to allow us time to assimilate its arrival.

Reasons why you should invest in Bitcoin now
Reasons why you should invest in Bitcoin now

No competition

If you only consider cryptocurrencies, the competition is less. Although there are many other cryptocurrencies such as Ethereum, Litecoin, etc., none compare to Bitcoin. Ethereum is following in the footsteps of bitcoins and using Blockchain technology, but it still doesn’t represent much of a competition. The other coins are not tangible yet.

Many are investing

Although Bitcoin is a digital currency, investors are trying to invest heavily in Bitcoin because it could be in immense demand afterward. Bitcoin can be compared to the precious metals available in the market, such as gold. Since Bitcoin entered the market, investors are testing various ways to trade it. More and more investment opportunities are emerging using bitcoins. Some have found these ideas lucrative, while others consider them risky. Investors who do not have a complete idea of how Bitcoin works feel that this investment is risky.

A survey conducted in 2019 showed that about 38% of people consider Bitcoin a powerful investment tool, while 64% did not show any interest in investing in bitcoins. This clearly points out that not many are aware of bitcoin and how it will control the world of trading in the future. It is a good time for you to invest in this coin and make a great deal of money.

Compatible with various devices

When you start using bitcoins in business transactions, you don’t have to deal with complications. You can find many applications and softwares in the virtual world that will make the use of Bitcoin highly compatible. You can download a Bitcoin wallet on your mobile device to store your coins there. You don’t have to invest in any additional tools to use bitcoins in your business.

Inflation resistant

The probabilities of inflation in Bitcoin are very low, because there are only 21 million bitcoins available in the market. There is no chance that the number of bitcoins will increase or decrease. It stays the same, and therefore it is not prone to inflation. This is the limit set by the inventor of Bitcoin, Santoshi. Bitcoin will maintain its value even in difficult cases.

insurance

Bitcoins are backed by Blockchain technology, which makes them decentralized. Thus, no third party is involved in the transactions carried out between the sender and the beneficiary. There will be no bank or financial institution that will charge exorbitant transaction fees. Although there are many controversies about the use of Bitcoin, Blockchain technology offers high security.

Bitcoin is decentralized, so there is no chance that the currency is vulnerable. People can safely depend on this currency.It offers strong security and works efficiently. No one will know who is transferring an amount, or to whom. It anonymizes the data of the beneficiary and the sender, since only the Bitcoin address is revealed. This works very well in the world of gambling and online casinos, where people don’t want to reveal their bank details. You can use bitcoins to carry out transactions, because your name will remain anonymous.

Without Borders

You can transfer bitcoins to any country because there are no border limitations, unlike fiat currency, for which you have to pay an extra commission per transaction.
Yearn.finance’s YFI coin to cross a whopping $30,000!

What’s Yearn.finance?

The platform will switch your holdings between reputable yield farming platforms such as Compound, Aave, and Dydx to maximize APY.

This simplistic protocol continuously monitors the market leaders to ensure that your funds remain in the highest paying pools.

Yearn.finance Features

Ytrade.finance

This feature allows users to long or short stablecoins with 1000x leverage.

Shorting cryptocurrencies has long been a dream for traders and Yearn makes this dream a reality using this protocol.

Yliquidate.finance

The yliquidate.finance feature introduces flash loans in Aave.The purpose of these loans is to liquidate funds in an expedited and efficient manner when needed.
Yswap.exchange

The yswap.exchange feature is another critical component of the Yearn Finance ecosystem.

Users can manually deposit funds to and between various DeFi protocols.

Iborrow.finance

This feature tokenizes debt in other protocols with the assistance of Aave.

This debt can be used in additional DeFi protocols, opening up new liquidity streams for the industry.

YFI Token

The YFI token is the main governance token of the Yearn Finance network.

It is used to govern the protocols within the ecosystem.

There is a max supply of only 30,000 YFI tokens.

The only way aside from trading on exchanges to get YFI is by providing liquidity to one of Yearn Finance’s platforms.

Why the Hype?

Yearn.finance’s YFI token has been surprisingly strong throughout the past few days.

Its price is holding well-within the mid-$20,000 region despite the selloff currently taking place across the aggregated crypto market.
There was narrative built throughout the past few months regarding shorting YFI being a higher return way to hedge against BTC.

This may be one of the main factors behind its strength, as a short squeeze might have caused its latest rebound.

Should you trade YFI?

Experienced traders have noted that YFI could be well-positioned to see even more gains in the days and weeks ahead.

It is estimated that a move past $30,000 could occur as bulls begin gaining greater control over its trend.

The selling pressure that pushed it to this key support level happened due to the declines seen by both Bitcoin and Ethereum.
The merger and acquisition spree that the Yearn.finance protocol has been on also contributed to it’s technical strength.

The combination of these factors indicate that it could rally higher in the days and weeks ahead.

Yearn.finance’s continuation of respective uptrends will certainly bolster YFI’s strength.

Visit BlockchainX.tech to learn more about blockchain and crypto.

Yearn.finance’s YFI coin has seen a surge in it’s prices recently, even surpassing the humble old Bitcoin. Their technical strength has proven to be superior and traders are estimating that the YFI Coin will likely cross a whopping $30,000 in the not so distant future.
Vist Blockchain.tech to learn more about blockchain & crypto.

BlockchainX, The Blockchain Company
Blockchain For Enterprise

Blockchain Technology has the potential to revolutionize several sectors and industries.

Many mainstream companies have adopted the technology after recognizing it’s possibilities.

So, let’s look at why and how Blockchain technology benefits enterprises allover the world.

Public vs Private Blockchains

Public Blockchain

Good examples for Public Blockchains are Bitcoin and Ethereum.

These Blockchains provide many of the functions needed for enterprises, except privacy.

public blockchain is visible to everyone, and while the data is secure, it is not private.

Private Blockchain

The Linux Foundation’s Hyperledger blockchains are a good example for Private Blockchain.

They provide all the features of Public blockchain with the added advantage of being “permissioned.”

This makes them perfect for organizations and enterprises because data can be made available to select participants.

Resilience through Decentralization

- Decentralization is perhaps the most useful feature of blockchain technology for enterprises.

- In a centralized network, all computers are connected to a central server.

- This server has to be functional at all times because all data flows through it.

- In blockchain, all computers (peers) are interconnected and distributed, making this a peer-to-peer network.

- Even if one peer is dysfunctional, the entire network is not affected.

- Moreover, if someone attempts to make any changes to the data, all peers are notified, making the data secure.

Data Immutability

- The Data stored on a blockchain ledger can never be lost.

- When we add new data, it is stored on a new block.

- This new block has the cryptographic hash of the previous block.

- If someone were to make any changes, it will be clearly visible and notified to all peers, eliminating fraud and data tampering.

Privacy & Transparency.

- For an enterprise, the balance between privacy and transparency is crucial.

- Some data might need to be protected (eg. Confidential records), and some might need to be public (eg. Transactions).

- By employing private and public ledgers, a blockchain system would be able to deliver exactly that.

- Protecting the privacy of the participants, while maintaining accountability.

Automation

- One prime feature of blockchain technology is a Smart Contract.

- Smart Contracts are self-executing contracts that automate tasks based on some criteria.

- Tasks such as payroll, scheduled payments, etc., can be faster and more efficient with smart contracts.

- Once a Smart Contract is deployed, it cannot be changed, meaning that no “third-party” can tamper with it.

- This eliminates the need for “trust” in transactions.

In a Nutshell

Blockchain technology
 
opens up a whole world of opportunities for enterprises and organizations.

It combines privacy, confidentiality, resilience, automation, and durability, into a single package.

Using blockchain-based systems, enterprises and businesses can completely transform the way they do business, forever.
Benefits of Blockchain for Supply Chain

Enhanced Efficiency

-Supply chains contain complex networks of suppliers, manufacturers, distributors, retailers, auditors, and consumers.

-A blockchain’s shared IT infrastructure would streamline workflows for all parties, no matter the size of the business network.

-A shared infrastructure would provide auditors with greater visibility into participants’ activities along the value chain.

Cost-Saving

Blockchain can drive cost-saving efficiencies and enhance the consumer experience through traceability, transparency, and tradability.

Traceability

-Improves operational efficiency by mapping and visualizing enterprise supply chains.

-A growing number of consumers demand sourcing information about the products they buy.

-Blockchain helps organizations understand their supply chain and engage consumers with real, verifiable, and immutable data.

Transparency

-Builds trust by capturing key data points, such as certifications and claims, and then provides open access to this data publicly.

-Once registered on the 
Ethereum blockchain, it’s authenticity can be verified by third-party attestors.

-The information can be updated and validated in real-time.

Tradability

-Using blockchain, one may “tokenize” an asset by splitting an object into shares that digitally represent ownership.

-This fractional ownership allows tokens to represent the value of a shareholder’s stake of a given object.

-These tokens are tradeable, and users can transfer ownership without the physical asset changing hands.

Reducing Counterfeits

-Counterfeit consumer goods account for nearly 188 billion dollars of lost revenue regarding prescription drugs alone.

-Blockchain enables an individual to verify that a product was sourced accurately and ethically.

-Documentation counterfeiting and fraud are also common among diplomas, certifications, and official identification.

-Blockchain records can transparently verify certifications and official legal documents effectively.

-It can also coordinate record-keeping immutably, which prevents counterfeiting or fraud.

Thank You For Reading
Blockchain as a Service (BaaS)

What is BaaS?

Baas is based on the Software as a Service (SaaS) model and works in a similar fashion.

BaaS refers to third-party cloud-based infrastructure and management for companies building and operating blockchain apps.

It functions like a sort of web host, running the back-end operation for a block-chain based app or platform.

Why BaaS?

-Consumers and businesses are increasingly willing to adapt to blockchain technology.

-However, the technical complexities and operational overhead involved often act as a barrier.

-These include creating, configuring, and operating a blockchain and maintaining its infrastructure

How does BaaS do it?

-Once created, the provider continues to handle the complex back-end operations for the client.

-These include activities like bandwidth management, allocation of resources, hosting requirements, and data security features.

-The BaaS operator frees the client to focus on the core job, the functionality of the blockchain.

-A BaaS provider’s role is similar to that of a web hosting provider.

-The website creators create and run all the website content on their own personal computers.

-They may hire support staff or sign up with an external hosting provider like Amazon Web Services or HostGator.

-Similarly, these third-party companies take care of the infrastructure and maintenance issues.

The Future

-BaaS may be the catalyst that leads to a wider and deeper penetration of blockchain technology across various industries and businesses.

-Businesses don’t have to create and run their own blockchains.

-Instead they can now simply outsource the technically complex work and focus on its core activities.

Thank You For Reading
Blockchain For Government

Blockchain technology offers a whole world of possibilities for Government systems.

Not only can it make tasks faster, it can also be an aid in fighting corruption.

How can it do tall that you ask?

Let’s find out . . .

Trustless Transactions

The word “trustless” doesn’t mean that it’s untrustworthy, rather the opposite.

With 
Blockchain, tasks such as money transactions (eg. Pension) can be automated using smart contracts.

Once a smart contract is implemented, no “middle men” can tamper with it.

This allows for a completely hands-free and seamless operation, eliminating the need for “trust.”

Transparency with Privacy

-The information once stored on the blockchain database can never be tampered with, and it will be available whenever needed.

-You can store the public information on a public blockchain ledger that everyone can access (such as criminal records, employment records).

-Sensitive information (such as medical records) can be stored on a private distributed ledger, making it available to specified persons only.

-This way, the government can access and keep the information they need for providing services to the citizens, while ensuring their privacy.

Enhanced Security

-Blockchain for government and public services add extra layers of security that keep hackers away from the data.

-When you use a distributed ledger for storing your data, on a protected network, it becomes extremely difficult for hackers to get into the system.

-Blockchain is made up of multiple blocks, each block is connected to all the other blocks, and each block has the cryptographic hash of the block before it.

-For a hacker to access the system, they would need to change the data on a block as well as the data on every other block, to avoid detection.

-Each entity that makes a transaction in the block gets a private key assigned to the transactions they make.

-When a hacker tries to make any changes to the data on a block, this key becomes invalid and the peer connection is notified instantly.

-There is no single point of weakness, the data itself is stored on multiple databases and not on a single server, making hacking practically impossible

Fighting Corruption

-Blockchain technology protects your data, not only from hackers but from everyone, making falsifying of data practically impossible.

-You can use authentication to choose who gets the data, while maintaining transparency by making relevant data available to the public.

-The immutable storage keeps data intact, and citizens can easily view and verify data using a Blockchainbased explorer.

-What you see is literally what you get.

Elections

-In the era of ballots, security was a major concern and Ballot boxes were guarded with high levels of security to ensure that the votes were not forged.

-Now, this process is done with the help of electronic devices, but the problem here is that electronic devices can be easily tampered with.

-There have been several reports of voters clicking on one candidate’s button and the vote being cast for the other candidate.

-Blockchain can eliminate this completely by ensuring that each vote cast is authentic, and the immutable storage makes sure that the data is not lost.

In A Nutshell

If Implemented, Blockchain technology has the potential to change the way our system operates, forever.

A change that maximizes efficiency while safe guarding privacy and countering corruption.
An Insight into Hyperledger Tools

What’s great?

-The Hyperledger umbrella project offers various blockchain-based frameworks and tools for enterprises.

-If you’re planning a Hyperledger-based project, it always pays off to understand what they are first.

-We’ll be looking at some of the tools available with Hyperledger and what they can do. So, let’s get started!

Hyperledger Avalon

-Avalon is a ledger independent implementation of the TrustedCompute Specifications published by the Enterprise Ethereum Alliance.

-It aims to enable the secure movement of blockchain processing off the main chain to dedicated computing resources.

-Avalon is designed to help developers gain the benefits of computational trust and mitigate its drawbacks.

Hyperledger Cactus

-Hyperledger Cactus is an Apache V2-licensed open source software development kit (SDK).

-It is designed and architected to help maximize pluggability so that anyone can use it to connect any DLT to others.

-This can also be done by implementing a plugin.

-This pluggable architecture helps enable the execution of ledger operations across multiple blockchain ledgers.

Hyperledger Caliper

-Caliper is a benchmark tool for blockchain frameworks and relies on functioning blockchain implementation as the benchmarking target.

-Caliper is not intended to make judgments and will not publish benchmark results, but provide benchmark tools for users.

-It will produce reports containing a number of performance indicators, such as TPS, transaction latency, resource utilization, etc.

-The key component is the adaptation layer, which is introduced to integrate multiple blockchain solutions into the Caliper framework.

Hyperledger Cello

-Cello serves as the operational dashboard for Blockchain, which reduces the effort required for creating, managing and using blockchains.

-Cello is primarily a tool for DevOps, or the connection between development teams and production

-Common lifecycle and deployment tasks include starting, stopping, and deleting a blockchain, deploying new nodes, abstracting the blockchain to run on local machines, etc.

Hyperledger Explorer

-The explorer is a useful tool in finding and understanding otherwise machine-readable data stored as encrypted ledger entries.

-The tool also provides enterprise-level visualizations that can help decision makers, through intuitive graphs, charts, and tables.

-It is to be used specifically on deployments of blockchains created using the Hyperledger umbrella.

Thank You For Reading
What is a Hyperledger Framework?

The Hyperledger umbrella project by the Linux Foundation includes several blockchain frameworks and tools.These frameworks can be used to build enterprise blockchain applications, providing high flexibility and security.

Let’s dig a little deep into these frameworks. .

Hyperledger Besu

-Hyperledger Besu is an Ethereum client designed to be enterprise

-friendly for both public and private permissioned network use cases.

-It can be run on the 
Ethereum public network or on private permissioned networks, as well as test networks.

-Hyperledger Besu includes several consensus algorithms including PoW, and PoA (IBFT, IBFT 2.0, Etherhash, and Clique).

-Its comprehensive permissioning schemes are designed specifically for use in a consortium environment.

Hyperledger Burrow

-Hyperledger Burrow is a complete single-binary blockchain distribution focused on simplicity, speed, and developer ergonomics.

-It supports both EVM and WASM-based smart contracts and uses BFT consensus via the Tendermint algorithm.

-Governance and permissioning is built-in and can be amended by on-chain proposal transactions.

-It is optimised for public permissioned proof-of-stake use cases but can also be used for private/consortium networks.

Hyperledger Fabric

-Hyperledger Fabric is intended as a foundation for developing applications or solutions with a modular architecture.

-Hyperledger Fabric allows components, such as consensus and membership services, to be plug-and-play.

-It offers a unique approach to consensus that enables performance at scale while preserving privacy.

-Its modular and versatile design satisfies a broad range of industry use cases.

Hyperledger Indy

-Hyperledger Indy is a distributed ledger purpose-built for decentralized identity.

-It allows the creation and usage of independent digital identities rooted on blockchains or other distributed ledgers by enabling interoperability across administrative domains and applications.

-The benefit of using DLT in this framework is that it puts people, not organizations, in charge of the decisions about their privacy and disclosure.

-This results in the secure handling of digital identities while having human values at its core.

Hyperledger Iroha

-Hyperledger Iroha is designed to be simple and easy to incorporate into infrastructural or IoT projects requiring distributed ledger technology.

-The framework is largely inspired by Hyperledger Fabric.

-Hyperledger Iroha features a simple construction, modularity, and domain-driven C++ design.

-With emphasis on client application development and a new, crash-fault tolerant consensus algorithm called YAC.

Hyperledger Sawtooth

-Sawtooth supports permissioned & permissionless deployments.

-It is highly versatile as it allows scalability for a network of validator nodes.

-Hyperledger Sawtooth utilizes the modular platform for building, deploying, and running the distributed ledgers

-It uses the Hyperledger Proof of Elapsed Time (PoET) consensus algorithm, which helps in achieving scalability of Bitcoin Blockchain, with minimal energy consumption.

What is all this fuss about?

Why is Hyperledger becoming so popular among organizations and developers all over the world? The Hyperledger umbrella project is a great opportunity for enterprises looking to make innovative blockchain-based software solutions. So for in this series, we have gone over several things related to the project. It encompasses several frameworks useful for enterprise businesses. So,

Let’s take a look at what these frameworks are and how they are useful. This is BlockchainX, and here is everything you need to know.
ICO Dashboard Security Features

Why the Fuss?

-ICOs are great when it comes to raising funds for crypto projects.

-But there are risks out there such as hackers, crypto whales, frauds, etc., that could compromise this opportunity.

-It’s crucial that you protect yourself and your ICO campaign from such threats.

ICO Dashboard Security

Blockchain KYC:

A blockchain-based KYC verification system protects you and your investors from possible frauds and illicit organizations.

OTP/2FA:

One-Time Password and 2-Factor Authentication systems help you protect your account from unauthorized access.

Crowdsale restrictions:

Restricting the number of tokens a single user can purchase can protect your ICO from whales and early liquidity which affects the token’s value.

Browser Restrictions:

Setting up browser restrictions on your web dashboard helps guard against hackers.

Token Lock-in:

Another feature to guard against early liquidity is Token Lock-in, where investors or owners are not allowed to redeem or sell their tokens for a specified period.

Logging & Monitoring:

It always pays off to keep an eye on everything that’s going on. Logging and monitoring features make this task a breeze.

Thank You For Reading

ICOs have become extremely popular over the years because of the sheer possibilities and versatility they offer. But there are certain threats that you have to account for before setting off on this journey.

A secure and functional ICO Dashboard can make running your campaigns a lot easier. We wanted to sort it out for you before you start. So, here are 6 security features your ICO Dashboard should have before for running a campaign.

This is BlockchainX, and here is everything you need to know.
ICO Development Pros & Cons
This opens a whole new world of possibilities, but it’s also important to evaluate if ICOs are the best choice for your project.

Pros

Quick & Easy Fundraising:

ICOs are a quick way to raise funds for your projects. Most of the time, all you need is a good White Paper.Project ownership: The investors invest in your project “idea,” not the project itself. So, you can raise funds while keeping the ownership rights to your projects.

Easy Settlements:

Since everything is done over blockchain, payments and investments are quicker and safer than conventional money transactions.

Liquidity:

Although the value of tokens are volatile, popular tokens have the potential to generate high liquidity, making millions in 24 hours.Democratizing Investments: Venture investments have been concentrated in the big cities for a long time, ICOs allow anyone to invest and fundraise, regardless of where you are.

Online Marketing:

You can showcase and promote your project to a massive audience using websites, forums, groups, etc.

Cons

High Volatility:

ICOs generate high liquidity, but early liquidity can cause token value to be highly volatile. Legality: Being a decentralized market, ICOs have no regulatory authority. The legality of ICOs may depend on the regulations of your country or area.

Uncertain Token Valuation:

Investors buy tokens based on expected resale profits, not the underlying economic utility.

Money Laundering:

There is a concern that ICOs could be used to launder money, especially by criminal organizations. This is why it’s always important to employ KYC verifications.Lack of Due Diligence: Investors make their investments based on the White Paper. ICOs may have technological issues or might just be unsuccessful due to sloppy work.

Whales:

Some people (Whales) buy a whole lot of tokens early on, which means that a large number of tokens are in the same place, affecting the liquidity.

Thanks You For Reading

Looking start an ICO campaign? Congratulations, ICOs are a great fundraising method for crypto start-ups and the possibilities are limitless. But there are certain things you need to consider before embarking on this journey. So, we’ve listed some general things you need to think about before deciding whether the ICO route is the best one for your innovative project.

This is BlockchainX, and here is everything you need to know.

8 ICO Smart Contract Features

Crowdfunding using ICOs?

Congratulations! ICOs are a great choice for crypto project fundraising.But there are things you need to know about before you start.

Hopefully, this series will help you get started with ICOs and how they can work for you.

What are Smart Contracts?

Smart Contracts are self-executing programs that work based some set criteria.

They are totally hands-free and tamper-proof.Once you implement a smart contract, it cannot by altered by anyone.This helps establish trust with your investors.

8 Key ICO Smart Contract Features

Capped Contracts

The Capping features allows you to set price caps, depending on what your minimum funding goal is to start the project and what your maximum goal is.

Mintable Tokens

Multistig Contracts

For transactions that need multiple signatures to be approved, multistig contracts are a great option.

Finalizable Contracts

Enables you to add extra finalizations once the crowdsale is finished.

Upgradable Contracts

Allows you to upgrade contracts and transfer tokens to new contracts,as your campaign progresses.

Refundable Contracts

If your campaign Was to unfortunately be unsuccessful in meeting.The funding soft-cap for starting the project,you can easily refund the investor’s money.

Burnable Tokens

You can burn unused tokens after a crowdsale by sending them to a sealed wallet, increasing the value of your tokens.

Time Vault Contracts

Allows you to establish time limits, before which a user won’t be able to withdraw their tokens.

Thanks For Reading

Smart Contracts are one of the most remarkable features that blockchain technology offers. These programs provide high levels of flexibility and practicality for enterprise businesses to automate their tasks, seamlessly. So, let’s take a look at how Smart Contracts benefit ICOs, what the features are, and how you can make the most out ofthem for your Blockchain Project.

This is BlockchainX, and here is everything you need to know.
Hyperledger Blockchain
What’s so remarkable?

The Hyperledger umbrella project has revolutionary potential for

enterprises looking to build innovative solutions.

It’s open-source, so anyone can use it.

It promises the perfect mix of Transparency and Security.

Let’s see how.

Security

-The distributed ledger system eliminates information infringement,

perfect for businesses.

-You can limit the data you want transparent to “permissioned”

parties.

-Upgraded consensus to control transactions.

-Immune to double-spend or “51%” attacks associated with miners.

-Immutable storage ensures that data is never lost.

-All data us cryptographically secured.

-Node and Transaction Processor Security

-Smart contracts called “chaincode” for automating tasks and certificate handling.

Transparency

-All data is visible to all permissioned participants.

-Detailed data analysis and audit with date and time stamps.

-New data is added to new blocks while a cryptographic hash ensures a clear record of old data.

-Immutable storage ensures extra level of transparency.

-Transactions can be made visible to select participants.

-Chaincode is set up to assess read-write operations on peers.

Thanks Reading!

The 
Hyperledger umbrella project opens revolutionary opportunities

to enterprises all over the globe, looking to create the most innovative

blockchain-based solutions the world has ever seen. It brings to the

table a perfect mix of unprecedented Transparency and Security that

it’s predecessor’s have not been able to do. And what’s more? Its

completely open-source, meaning that anyone can use it. So, let’s look

at what makes the Hyperledger Blockchain so remarkable and trust worthy.

This is 
BlockchainX, and here is everything you need to know.



DEFI What is decentralized finance and how does it work?
DEFI are a new financial ecosystem, decentralized, global, transparent, resistant to censorship, without intermediaries and easily accessible.

The DEFI or Decentralized Finance , are an alternative to traditional finance. Traditional financial services are all products related to means of payment or money management offered by a bank, a financial institution, insurance companies or investment companies, among others.

These traditional finances carry with them a series of obstacles, limitations and regulations that make them little accessible for some and not very attractive for others. Such as high commissions or control by banks and regulators.


Thanks to Blockchain and criptomonedas , the DEFI have come to upgrade, improve and globalize finance such obsolete, placing them at the reach of everyone no matter where you are, if you have access to the Internet anyone can use them .

The traditional financial system

Today's financial system is the center of most economies. All the functionalities of this system are controlled by centralized authorities such as governments, banks and other financial institutions.

People deposit their money in banks and other financial institutions to save and often deposit fixed and recurring deposits for profit.

The first problem is that when someone deposits money in banks or other organizations, they have no control over their assets. You have little to no knowledge of where you invest your money and how these corporations manage it. So this system lacks transparency.

These centralized institutions invest that accumulated money in the stock markets, in addition to granting loans at high interest rates and making big profits. But only a fraction of these are returned to depositors.

One of the most unfair and under-addressed issues in the existing financial system is inequality in financial services. By some estimates, more than 1.7 billion people around the world do not have access to bank accounts or financial institutions of any kind.

To address these drawbacks of financial systems, the world now has Decentralized Finance (DeFi).

What is Decentralized Finance (DEFI)?

The DEFI are a new financial ecosystem, decentralized, global, transparent, resistant to censorship, without intermediaries and easily accessible, where each user has full control of its assets.

The goal of decentralized finance (DeFi) is to provide a global and open alternative to all financial services that people use today. This only requires an internet connection and a smartphone.


The tools to carry out these decentralized finances are digital assets, decentralized applications (dApps), smart contracts (Smart Contracts) , protocols and decentralized exchanges (DEX).

And the alternatives that this new financial ecosystem offers are decentralized loans, decentralized oracles or non-custodial token exchanges, among others.

Ethereum leads decentralized finance from the beginning with Ethereum-based projects, such as MakerDAO or Augur, but little by little other large platforms in the sector such as EOS, Algorand or Tezos, among others, are preparing to claim their share of the pie.

What do DEFI offer?

Global access to financial services

DeFi applications provide global access to financial services, although local restrictions may apply. To access DeFi platforms such as Maker or Compound Finance, users only require an internet connection and a smartphone, regardless of their location or country.

Complete control over assets

DeFi offers users complete control over their assets as anyone can safely store, trade, and invest their assets on the blockchain, and no middleman handles these assets except smart contracts. Therefore, users have complete control over their assets.

Privacy, security and transparency

With DeFi, users have custody of their wealth and can securely transact without validation from a central party. As all activities are recorded on the blockchain, all transactions are publicly available. Therefore, this offers better transparency than a centralized system, where records can be easily modified.

Payments and settlements

There is a vast and expensive network of intermediaries involved in cross-border payments. But these transactions take days to settle and they charge a hefty fee for their service. DeFi has the potential to completely eliminate these costly intermediaries, making remittance services much more affordable and efficient for the world's population.

DeFi promises much more than this. Censorship resistant transactions and high returns can also be achieved through DeFi. DeFi applications also provide a flexible user experience and interoperability with other products.

DEFI loans

Among the financial alternatives offered by DEFIs, we can highlight decentralized loans, which have much higher returns than those offered by traditional market funds, even reaching 18%, compared to 2-3% in the traditional market.

Thanks to decentralized finances, you can request a loan without the need for intermediaries.

Despite the scalability problems in its network, if there is a project associated from the beginning to the DEFI it is Ethereum, for example, its products with the stablecoin DAI, have been hailed as immensely interchangeable financial products.

But, although Ethereum has been there from the beginning, it cannot be trusted as competitors are starting to follow suit.

EOS

EOS is a high-performance blockchain platform, one of its missions is to support decentralized applications that provide all the benefits that blockchain technology offers.

“When we talk about DeFi, ETH failed. Ask bitfinex, bancor or any team that wants to implement a simple order book on ETH. The design of EOSIO is based on the initial decentralization lessons of the financial platform bitshares. Speed, low latency, neat indexing, floating point, and c ++ are only available in EOSIO. EOSIO has RAM, network bandwidth resource leasing, bancor, token name bidding, and various anchor token designs on the market. The decentralized future is in EOSIO «.

Algorand

Algorand seeks to provide the same services that Ethereum offers, only with better performance and putting an end to the common security, scalability, and decentralization issues that other blockchains have.

“Our Proof-of-Stake protocol is the first of its kind to support scale, open participation, and purpose of transactions for billions of users. All backed by a sustainable business and a recognized team of experts. " they say from their website.

As for DEFIs, as announced by its Founder Silvio Micali , Algorand is working on the generation of new fungible tokens and the execution of multi-party atomic transfers (AMPT).

Tezos

Like its competitors, Tezos works to be a tool for the development of smart contracts and decentralized applications (dApps).

“The Tezos Foundation is pleased to announce that 14 new grants have been issued for projects submitted in response to your most recent Request for Proposals (RFP). The Foundation considered proposals for the following categories as part of this RFP: Applications created using smart Tezos contracts (with special interest in finance decentralized or applications "DeFi") "They say in the blog of the foundation tezos

Of these projects, the one focused on DEFIs is Protofire , a development team focused on smart contracts.

conclusion

DeFi has the potential to change the current financial landscape in a positive way. But it is still a small market and has a long way to go. With new projects and protocols entering the market, the world can look forward to a true decentralized financial system for years to come.

The main uses of Decentralized Finance or DeFi
The exponential growth of DeFi in recent months has led, according to important crypto references, to the latest rise in the price of cryptocurrencies, commissions, volumes and activity on the Ethereum network. Undoubtedly, we are in the presence of a true emergence in this new financial activity.

DeFi is much more than Decentralized Finance, explains Roisenzvit. DeFi sets up a true financial revolution:

It is the simplest and most direct way to invest, leverage, take on debt or generate profits with completely innovative instruments. All within the reach of a click and an app download on the phone. In a single application we can earn interest in our funds, or invest with an advanced algorithmic robot, all in the simplest and most economical way. It is a true financial revolution "

For Alfredo Roisenzvit there are three main and general uses for DeFi

1 . Issuance of stablecoins or stablecoins

The issuance of stablecoins (stable coins) constitutes one of the main uses of Decentralized Finance or DeFi. Stablecoins are a type of cryptoassets that set their price to traditional assets, whether they are fiat currencies such as the dollar or the euro, for example, as well as gold and silver. This "pairing" seeks to reduce the volatility that cryptocurrencies such as bitcoin or ether still present.

The advantage of stablecoins is that they can be transferred digitally much more easily and by avoiding volatility, they could be adopted for everyday use as a replacement for traditional currencies, as a form of digital cash not issued or monitored by a state authority , such as a Central Bank.

2 . Loans

One of the most popular types of applications in the DeFi ecosystem is open lending or open lending protocols. The advantages of taking and granting loans in an open and decentralized way compared to the traditional credit system are several and include the instantaneous settlement of transactions, the ability to collateralize digital assets and the absence of credit controls.

By being built on public blockchains and containing the guarantee of crypto verification methods, DeFi loan services minimize the amount of trust required and reduce counterparty risk in addition to making the taking and taking and making it available to a larger public. granting of loans.


The main characteristic of collateralized loans are their very low and competitive rates (for example, DAI loans can be obtained on the compound platform at 5% per year:

3 . Marketplaces and Decentralized Exchanges

They are the DeFi segment with the most room for financial innovation.

Decentralized exchanges (DEX) are platforms that allow users to trade (" trade " in financial jargon) digital assets without the need for a trusted intermediary, such as an exchange, to hold funds in custody. In this case, the exchanges or trades can be carried out directly between the wallets of the users thanks to the help of smart contracts.

DEXes require much less maintenance work and for this reason they tend to have lower trading fees than centralized exchanges.

Blockchain technology has the advantage of being able to be used to issue and allow the ownership of a wide range of conventional financial instruments, applications that work in a decentralized way, and thus eliminate custodians.

Some examples of decentralized blockchain-based platforms include security token issuance, tokenized securities with customizable parameters, derivatives creation, synthetic assets, decentralized prediction markets, and many more.

An example of DEX is Synthetix Exchange

TokenSets is another good example of a DeFi application. On the TokenSets platform, users can choose from hundreds of investment strategies with parameterized robots, in a wide variety of crypto-asset portfolios.

Moonquant.capital is one of the main Traders on that platform. Specifically, they have also collaborated with Tokensets in the construction of the site in Spanish, with the aim of bringing these tools to the Latin American market.

Trends in Decentralized Finance (DeFi)
Many themes and trends have emerged within the DeFi movement. We'll show you 5 trends to watch for in the coming months and beyond:

5 Decentralized Finance Trends Worth Watching for:

Many themes and trends have emerged within the DeFi movement. We'll show you 5 trends to watch for in the coming months and beyond:

1. Ethereum Continues to Lead

The Ethereum blockchain continues to dominate the DeFi landscape despite losing some market share to other DeFi platforms and smart contracts (including Tron, Binance Chain, Neo, Waves, and others). All major DeFi protocols , except for the Bitcoin Lightning Network, are based on the Ethereum blockchain, with new projects coming together all the time. Even with ETH volatility, the long-term uptrend in TVL on DeFi is intact. The ETH locked in DeFi possibly a large measure of adoption as it indicates that the proportion of all ETH used to DeFi instead volatile USD equivalent, is at about 80% of its historical peak.

Ethereum analytics firm Covalent forecasts a "turnaround" event , in which DeFi transactions outperform simple ETH transfers.

Finally, thanks to the composability of the Ethereum blockchain and the Maker Protocol , new solutions built on top of both make the DeFi ecosystem incredibly valuable. Compositing capacity helps create a "network effect", a powerful phenomenon in which the value of goods or services increases as the number of users increases. It is due to the network effect that the Maker Protocol accounts for more than 50% of TVL in DeFi. To date, more than 600 projects have integrated Dai by Maker into their applications built on the Protocol.

2. Increase in Interest on Stablecoins

There is a huge and growing appetite for stablecoins as traders look to 'on-chain' (crypto) ways to hedge and store value. Tether (USDT), a centralized stablecoin with the majority of its supply hosted on Ethereum , maintains its multi-million dollar dominance. But other centralized and trust fund-backed alternatives are gaining traction, all taking the form of ERC20 tokens:

Circle's USD Coin

The Trust Token, TrueUSD

Paxos Standard

Gemini dollars

While the Ethereum blockchain itself is decentralized, and all of these tokens can be openly transferred and traded, they are centralized in how they store value. Because they are managed by organizations that hold the funds that back them up in one or more bank accounts, their value can be frozen or even confiscated. Simply using a decentralized infrastructure does not eliminate all single points of failure.

The Stablecoin Dai is different. Dai is impartial, available to anyone, anywhere and is not caged by the parameters of a central entity. While there is considerable interest in centralized stablecoins, Dai is the most decentralized stablecoin and the most popular stablecoin in the DeFi space. Thanks to its open nature, stability, and resistance to censorship, Dai has also gained popularity in Latin America as a tool to survive hyperinflation.

3. New Innovative Products

Dai allows anyone to access the stability of the US dollar (something that is not always easy for those outside the US) and deploys it throughout the world of DeFi. At one end of the spectrum, this includes simple services like fast, low-cost international transfers (Dai is ideal for remittances) . At the other end of the spectrum, Dai has integrated into more complex products, including:

Insurance (eg Nexus Mutual )

Market Predictions (eg Augur and others)

Decentralized Leveraged Trading (eg dYdX )

Loan protocols (eg Compound , Aave , InstadApp and more)

Synthetic Assets (eg UMA )

All of the above allows users to access products that would otherwise be out of reach. The DeFi space is sure to welcome more and more novel and experimental projects in the months and years to come.

4. DeFi "Loans" in Focus

"Decentralized Lending Protocols" are a new sector in the DeFi space, although it is not like asking for an unsecured loan in the conventional financial world. DeFi "borrowers" don't sign stacks of documents to guarantee repayment, but instead place crypto collateral via smart contracts on the blockchain. This allows them to free up cash for day-to-day expenses or trading, without selling the cryptos whose value they believe will appreciate. This area of ​​DeFi is increasing in popularity.

5. Exchanges in Evolution

Exchanges go beyond the paradigm of separate services, purely centralized or decentralized, with new platforms that include the best of both paradigms.

Aggregators, services that link traders with different DEX (Decentralized Exchange), offer easy access to liquidity from multiple sources at the same time. Peer-to-Contract (P2C or user-to-contract in Spanish) platforms, such as Uniswap, complement the traditional Peer-to-Peer (P2P or peer-to-peer) approach. In the P2C model, users buy and sell from a smart contract that automatically calculates the price based on supply and demand. This eliminates the need for order books, reduces complexity, and simplifies the user experience.

In addition, exchanges are integrating other services, so that users can acquire cryptocurrencies and then use them immediately. In December 2019, an update to the 0x protocol of the decentralized exchange infrastructure allowed the investment of ZRX tokens . The Kyber liquidity aggregation protocol now does the same. And Oasis.app offers a unified DeFi hub , providing an easy-to-use interface for users to generate Dai and exchange it for other tokens on the embedded DEX, or acquire Dai on the DEX and earn interest locking it on the Interest Rate. Dai (DSR).

Meanwhile, centralized exchanges are integrating decentralized protocols. Coinbase Wallet offers users access to Compound (loans) and dYdX (margin trading), and OKEx has integrated Dai Interest Rate (DSR) . All of this points to greater convergence and understanding, as centralized services facilitate access to decentralized opportunities.

ERC-20 tokens reach 50% of the total value of the Ethereum network

ERC-20 tokens reach 50% of the total value of the Ethereum network
According to a new Messari Crypto study, ERC-20 tokens account for almost half of all the value of the Ethereum network.


According to a new report from cryptocurrency analysis company Messari, the ERC-20 standard Ethereum tokens are already responsible for almost 50% of the network's total value.
Ethereum was launched in July 2015 and works as a decentralized platform for smart contracts and decentralized applications.
The network has its own cryptocurrency called Ether ( ETH ), which serves to pay for the "gas" for transactions.
The platform is the main option for developers to create decentralized applications and the number of new projects on the Ethereum network continues to grow.


The Ethereum network has a token standard called ERC-20 . This standard allows projects to launch their own tokens or cryptocurrencies easily and quickly.
The latest Messari Crypto research suggests that ETH is losing space for these new tokens, which already account for almost 50% of the total value of the Ethereum network.
The data showed that in the past two years there has been a complete transformation in the way value is stored and transferred on the Ethereum Blockchain.
In mid-2016, ETH represented 100% of the value stored on the Ethereum network.
However, with the constant launch of new projects on the network, its domain began to fall in 2018 and now represents just over 50% of the total value stored on the Blockchain.
The study suggests that the growth of stablecoins relative to the growth of ETH's value will be what decides whether ETH will remain the dominant force on the Blockchain.
The Ethereum network is also used for stablecoins. This type of asset works like an ERC-20 token and has its value tied to some national currency such as the US dollar.
In recent months, the amount of stablecoins on the Ethereum network has exploded and this is one of the reasons for the growth of value stored as ERC-20 on the network.


  • Ethereum Classic follows in its brother's footsteps with the Phoenix hard fork


The study also analyzed movements in the network and explains that Ethereum is on track to process more than $ 530 billion this year alone, and most of the growth is driven by the growth of stablecoins.



ERC-20 tokens: what they are and how they work
Most ICOs are based on ethereum as a platform, and more specifically on ethereum smart contracts.

So while we are used to seeing and dealing with ERC-20 tokens, few people know exactly what they are, how they work, or even what ERC-20 means. (If you're wondering, ERC stands for Ethereum Request Comment, and 20 is the arbitrary number assigned to the proposal.)

ERC-20 Basics

As the name suggests, the native currency of the ethereum blockchain is ether ( ETH / USD ). But ERC-20 tokens also act as coins in ethereum. Ethereum is the heart and mind of ERC-20 tokens. Your blockchain processes your transactions and your virtual machine executes your smart contracts .

Ethereum.org describes the mechanism of ICOs as follows: Customers pay for the smart contract (the robot is in the center). The robot sends the money to the owner of the contract. The robot returns the owner's ICO tokens to clients.

Remember that these tokens are not independent. They reside on the ethereum blockchain and depend on its distributed computing power.

Risks of smart contracts

Although smart contracts are very efficient, they carry certain risks. For example, a smart contract cannot be changed once it is initiated by the developers of the ICO. If a smart contract contains errors or vulnerabilities, you could easily lose your funds, tokens, or both. Such things have happened frequently throughout the history of ethereum.

The most notable example was the hacking of the $ 55 million DAO, and its correction required a fork of the ethereum network (which is how the Ethereum Classic was created).

Why is the ERC-20 standard ncessary

Before the ERC-20 standard appeared, there were many compatibility problems between the different forms of ethereum tokens. Each token had a completely unique smart contract.

In other words, you had to write a completely new code for each change or wallet, in order to host a new token. And supporting the growing set of tokens was becoming overly troublesome and time consuming. As a solution, the industry invented a standard protocol for all tokens, now known as ERC-20.

The ERC-20 token standard has six mandatory parameters for any smart contract, plus three optional (but recommended!). Optionally, you can set the maximum number of decimal places that a token supports. For comparison, bitcoin allows eight numbers after the decimal point, as well as its symbol (usually a 3- or 4-digit code) and its name. (So ​​pick something inspiring!) The six mandatory functions refer to the number and transfer of tokens.

The first two are used to assign the initial state of the token distribution: The totalSupply function of the token must be set. Once the maximum is reached, the smart contract will not be able to create any more tokens. The balance0f function assigns an initial number of tokens to any address, usually the owners of the ICO. Two transfer methods are also needed for additional distribution to users and sending of tokens between users.

They are vital for the functions of the secondary market: The transfer function moves tokens from full supply to any individual user who buys during the ICO phase.Two more functions are needed to verify the two previous functions:

The approve function verifies that a smart contract can distribute tokens, based on the remaining supply. Lastly, the allowance function ensures that one address has enough balance to send tokens to another address.

These 6 easy steps have enabled portfolio and exchange providers to create a single code base that can interact with any ERC-20 smart contract.

ERC-20 token applications

ERC-20 tokens have many uses. For example, they can act as project participations, asset ownership certificates, loyalty points, or even simple cryptocurrencies. It is also possible that ERC-20 tokens simultaneously fulfill several of these functions.

ERC-20 token creation

All tokens are created by smart contracts. These smart contracts manage token transactions and account for the balance of each token holder. For example, CoinLaunch 's CoinCreator page allows you to easily create your own ERC-20 tokens. While an ICO is active, you must receive the ICO tokens at the agreed exchange rate, if you send funds in cryptocurrencies and your data (most importantly, your postal address) to your smart contract.

Problems with ERC-20 tokens

The ERC-20 protocol alone is not always sufficient for the purposes of a token. It is merely a standard for creating ethereum-based tokens, and it does not secure useful, valuable, or even functional tokens.

A token can be further customized as long as it meets the basic requirements of the ERC-20.A disadvantage of the ERC-20 standard is that it makes the deployment of a token trivial on a technical level. As a result, many teams that would otherwise have been unable to launch an ICO have been able to do so.

The large number of tokens released (47,454 and counting!) Leads to an abundance of very similar tokens, making the selection process more difficult and confusing for potential investors. Another problem is that some projects implement the guidelines in an idiosyncratic manner, creating more confusion about the way their tokens operate. For example, tokens are sometimes sent to smart contracts of other ICOs.

If that contract has not allowed this type of token, then the tokens will be lost. At the end of 2017, more than $ 3 million was lost in this way. The ERC-223 proposal aims to counteract this defect.

conclusion

The creation of the ERC-20 token standard has accelerated growth across the ICO space by standardizing functions that facilitate project token development. The protocol has also brought about greater synergy between ICOs projects, exchanges and portfolio providers. In response to common issues and vulnerabilities in ICO tokens, the ERC-20 protocol will likely be improved and expanded in the future.

Introduction to Peer-to-Peer Networks
What does peer-to-peer (P2P) mean?

In computer science, a peer-to-peer (P2P) network is defined as a group of devices that collectively store and share files. Each participant ( node ) acts as an individual pair. Normally, all nodes have the same power and perform the same tasks.

The P2P architecture may be suitable for various use cases, but it became especially popular in the 1990s, when the first file-sharing programs were created. P2P networks currently serve as the foundation for most cryptocurrencies, and make up much of the blockchain industry. However, they are also leveraged in other distributed computing applications, including web search engines, streaming platforms, online marketplaces, and the InterPlanetary File System (IPFS) web protocol.

How does a P2P system work?

In essence, P2P systems are maintained by distributed user networks. Usually, they do not have a central administrator or server, because each node has a copy of the files - acting both as client and server for the rest of the nodes. Thus, each node can download files from other nodes, or upload files to them. This is what sets P2P networks apart from more traditional client-server systems, where client devices download files from a centralized server.

In P2P networks, connected devices share files that are stored on their hard drives. Using software-type applications designed to mediate data sharing, users can query other devices on the network to find and download files. From the moment a user has downloaded a specific file, they can act as the source of the file.

In other words, when a node acts as a client, it will download files from other nodes on the network. Whereas when it works as a server, it will become the source from which other nodes will be able to download the files. In practice, however, both functions can be carried out simultaneously (for example, by downloading file A and uploading file B).

Since each node stores, transmits, and receives files, P2P networks tend to become faster and more efficient as their user base grows. Furthermore, its distributed architecture makes P2P systems highly resistant to cyber attacks. Unlike traditional models, P2P networks do not have a single point of failure.

We can categorize peer-to-peer systems according to their architecture. The three main types of P2P networks are called: unstructured, structured, and hybrid.

Unstructured P2P networks

Unstructured P2P networks do not have any specific organization of the nodes. Participants communicate with each other randomly. These systems are considered robust against high rotation activity (that is, when multiple nodes join or leave the network frequently).

Although they are easier to build, unstructured P2P networks may require more CPU and memory usage, because search queries are sent to as many pairs as possible. This tends to flood the query network, especially if only a small number of nodes deliver the desired content.

Structured P2P networks

In contrast, structured P2P networks feature an organized architecture, which allows nodes to search for files efficiently, even when the content is not widely distributed. In most cases, this is accomplished through the use of hash functions that facilitate searching of databases.

Although structured networks can be more efficient, they tend to have higher levels of centralization and, usually, higher installation and maintenance costs. Other than that, structured networks are less robust against high turnover rates.

Hybrid P2P networks

Hybrid P2P networks combine the conventional client-server model with some aspects of the peer-to-peer architecture. To give an example, they can designate a central server that facilitates the connection between peers.

Compared to the other two types, hybrid models tend to feature improved overall performance. They typically combine some of the main advantages of each approach, allowing them to achieve significant degrees of efficiency and decentralization simultaneously.

Distributed vs. decentralized

Despite the fact that the P2P architecture is inherently distributed, it is important to note that there are various degrees of decentralization. Thus, not all P2P networks are decentralized.

In fact, many rely on a central authority that guides network activity, making them to some extent centralized systems. For example, some P2P file sharing systems allow users to search for and download files from other peers, but are unable to participate in other processes, such as managing search queries.

Furthermore, the degree of centralization of small networks, controlled by a limited user base and with shared objectives, can be considered higher, despite lacking a centralized network infrastructure.

P2P's role in Blockchains

In the early stages of Bitcoin, Satoshi Nakamoto defined it as an "electronic peer to peer cash system." Bitcoin was created as a digital form of money. It can be transferred from one user to another through a P2P network, which manages a distributed ledger called the blockchain .

In this context, the P2P architecture that is inherent in blockchain technology is what allows Bitcoin and other cryptocurrencies to be transferred worldwide, without the need for intermediaries or any central server. Also, anyone can configure a Bitcoin node if they want to participate in the block verification and validation process .

Therefore, there are no banks that process or record transactions on the Bitcoin network. Instead, the blockchain acts as a digital ledger that publicly records all activity. Basically each node contains a copy of the blockchain and compares it to other nodes to ensure the data is accurate. The network quickly rejects any malicious activity or inaccuracy.

In the context of cryptocurrency blockchains, nodes can take on a variety of different roles . Full nodes, for example, are the ones that provide security to the network by verifying transactions with system consensus rules.

Each full node maintains a complete and up-to-date copy of the blockchain, allowing them to participate in the collective work of verifying the true status of the distributed ledger. However, it is worth noting that not all full validation nodes are miners .

Advantage

The peer-to-peer architecture of blockchains offers many benefits. Among the most important is the fact that P2P networks offer greater security than traditional client-server arrangements. The distribution of blockchains on a large number of nodes makes them practically immune to Denial of Service (DoS) attacks that affect numerous systems.

Similarly, since most nodes must establish a consensus before adding data to a blockchain, it is almost impossible for an attacker to alter the data. This is especially true for large networks like Bitcoin. Smaller blockchains are more susceptible to attacks because one person or group could eventually gain control over most nodes (this is known as a 51 percent Attack ).

As a result, the distributed peer to peer network coupled with a majority consensus requirement gives blockchains a relatively high degree of resistance to malicious activity. The P2P model is one of the reasons that Bitcoin (and other blockchains) were able to achieve the so-called Byzantine Fault Tolerance .

Beyond security, the use of P2P architecture in cryptocurrency blockchains also makes them resistant to censorship by central authorities. Unlike standard bank accounts, governments cannot freeze or drain cryptocurrency wallets. This resistance also extends to censorship efforts by private payment processing and content platforms. Some content creators and online merchants have embraced crypto payments as a way to prevent third parties from blocking their payments.

Limitations

Despite its many advantages, the use of P2P networks in blockchains also has certain limitations.

Because distributed books must be updated on each node rather than on a central server, adding transactions to a blockchain requires a great deal of computing power. While this provides increased security, it greatly reduces efficiency and is a major hurdle when it comes to scalability and widespread adoption. However, cryptographers and blockchain developers are researching alternatives that can be used as scaling solutions. Highlights include Lightning Network , Ethereum Plasma, and the Mimblewimble protocol .

Another potential limitation is related to attacks that can arise during hard fork events. Since most blockchains are decentralized and open source, nodegroups can copy and modify the code and separate from the main chain to form a new parallel network. Hard forks are completely normal and do not pose a threat by themselves. But if certain security methods are not adopted correctly, both chains can become vulnerable to repeat attacks .

Furthermore, the distributed nature of P2P networks makes them relatively difficult to control and regulate, not just in the blockchain niche. Various apps and P2P companies got involved with illegal activities and copyright infringements.

In conclusion

The peer-to-peer architecture can be developed and used in many different ways, and it is the core of the blockchain that makes cryptocurrencies possible. By distributing transaction books across large node networks, the P2P architecture offers security, decentralization, and censorship resistance.

In addition to their usefulness in blockchain technology, P2P systems can also serve other distributed computing applications, ranging from file-sharing networks to energy trading platforms.

Airdrops for ICOs: key points to consider
The Initial Coin Offerings really enjoyed a great year in 2017, exploding around the world and becoming a source of generating more income than was ever thought to be logical, not to mention possible, but they became popular. .

This post is dedicated to telling you a little bit about ICOs and the key points to consider about airdrops.

What exactly is an initial coin offering?

Many people might be thinking that ICO looks a lot like IPO. IPOs or Initial Public Offerings are something that belongs to the traditional financial market environment where companies “go public” and sell shares of the company to raise funds to move forward. An ICO is a similar concept. It is halfway between an initial public offering and crowdsourcing and was born shortly after the advent of cryptocurrencies and the blockchain technology that powers it.

Blockchain technology is disruptive technology that is based on the entire cryptocurrency ecosystem. In short, it is a decentralized ledger system that allows the relevant parties to carry out transactions of value between them without any central authority validating the transaction. Validation is done by the entire computer network that is solving complex cryptographic puzzles. It allows what is called trustless transactions between people.

Blockchain technology was invented to facilitate a decentralized payment system by the creators of Bitcoin, the world's first cryptocurrency, but it has profits that expand much further and one of them was for companies to raise funds with it. That's what ICOs are really about. ICOs are crowdsourcing done using blockchain.

Airdrops and Initial Coin Offers

Now that you have a pretty good idea of ​​what Initial Coin Offerings are, it's time for you to get a feel for what airdrops are.

To define what airdrops are in the simplest way, it is the phenomenon in which a starting blockchain company will give away a few free tokens through the blockchain network in order to put your ICO project is underway. It is essentially a marketing technique for Initial Coin Offerings. This is the reason why you can consider airdrops as freebies.

Airdrops are a very effective marketing tool for ICOs. It is not something that is done randomly. Airdrops are given away by companies that launch ICOs in a very calculated way. They will look for some pre-established conditions that people must meet, so that the companies that launch ICO give them airdrops. For example, Business A might have the condition that the people they are airsropping are those who are active traders in the world of cryptocurrency.

A brief look at how the Airdrops got

Airdrops have been around for a while considering the brief history of the world of cryptocurrencies. For example, if you are an active Ethereum user and have had a substantial amount of Ether in your wallet for a long time, you will notice some kind of random extra token in your wallet. This is not an accident, it is not divine providence - it is the coin team that considers it worthy to receive some of the amounts that they are giving away to Ethereum users.

In such a situation once you receive the token, one of the first things you can do is carry out a quick investigation into why the mystery coin is suddenly there in your wallet without being received or accepted by someone. You might also consider asking someone else about the new random coin you have in your wallet. Or you could completely ignore the mystery coin.

If your reaction is to research the coin randomly or talk to your friends about the coin, you will have served the purpose of the toss. You will have acquired more knowledge about it through your research on the matter or you will have spread the news about the new token taking it to your friends. For a small price, the company that launched the ICO will have managed to market what it offers. If they ignore it completely, the marketing effort has failed.

Final thoughts

When you really think about it, you cannot consider that the entire aerodrome concept is limited to the mere commercialization of an ICO. It goes one step further and it is more or less an activity that is increasing the value of a new currency, since the bonuses that the holders of the tokens will receive with the ICO that is being carried out will be as high as the number of tokens they have. When you receive the mysterious tokens, it will take around a month or two for you to see the real coins credited to your wallet, as airdrops are mostly done during or just before an ICO takes place.

Be sure to check your Ethereum wallet to see if you have recently received an airdrop. You do not need to use your private key to access your Ether wallet just to check the balance. You can check it using the Token Tracker.

Blockchain can be used in ridesharing too now

Blockchain can be used in ridesharing too now!

Ridesharing and carpooling are becoming increasingly popular in large cities that suffer from traffic jams and congestions. Cab aggregator services have capitalized on this trend by providing cab sharing options to its users. The concept of vehicle sharing can be improved upon further by implementing blockchain in ridesharing services.




Implementing blockchain in ridesharing removes intermediaries and allows for direct transactions between the rider and the driver. It has the potential to get more people to adopt ridesharing, which is beneficial financially and also environmentally. The use of blockchain in ridesharing can not only benefit but also completely disrupt the market.

HOW IMPLEMENTING BLOCKCHAIN IN RIDESHARING IS BENEFICIAL

Blockchain is the important driver for boosting ridesharing services. Implementing blockchain in ridesharing is going to alternative the way the enterprise  works completely.

1. PEER-TO-PEER RIDESHARING

Today's cab service providers use a centralized strategy to carry out their operations. Each service provider has its terms and conditions which the driver and the rider must comply with. Moreover, the process of booking cabs requires intermediaries like third party payment platforms, and this lack of transparency leads to more problems. The blockchain is a decentralized ledger where all the information is stored on computers all around the world which can be accessed and traced publicly. Built into the ledger is a mechanism that allows participants to do business with each other and minimizes the need for trust between each other. The need to go through an intermediary is eliminated. Blockchain allows for short or long term vehicle leasing between two parties involved directly. Users can look up for rental services based on their needs without being dependent on intermediaries and choose accordingly. Users can also rent their vehicles out and connect with people in need directly.

2. CUSTOMER IDENTIFICATION

Due to the availability of data on a public platform, it provides for a transparent rider and driver verification. Users can be assured of the identities of individuals availing or providing services on platforms using blockchain technology. Blockchain helps in curbing identity theft as it provides strong cryptographic keys for security against potential attacks and data manipulation. People can be assured of identities while renting out or hiring vehicles.

3. SECURE PAYMENTS

Blockchain can be used to sign digital contracts and make payments directly between the parties involved. The most crucial advantage of blockchain being direct payments between the parties involved, without the need of a third party payment gateway. Blockchain-based services use cryptocurrencies for transactions. This eliminates the need for real cash and third-party payment platforms for carrying out the transaction.

4. DATA SECURITY

The use of blockchain technology can protect rideshare' info from data pirates. The resulting platforms serve as blockchain-based Uber or Lyft alternatives. On these platforms, the information is stored on a decentralized ledger. This information can be accessed only by Dapps (decentralized apps) that facilitate transactions between drivers and riders. This way, there’s no central database to be hacked. Many ridesharing apps based on blockchain technology are pushing the ridesharing industry forward.

The use of blockchain in ridesharing helps bring all the stakeholders involved in the ridesharing platform closer. It will pave the way for a secure and efficient ridesharing service. There, however, is a need for a comprehensive blockchain framework policy that would regulate and encourage people to adopt a blockchain-based ridesharing system.



How does Blockchain- Blockchain work?
The blockchain (blockchain) is a type of distributed network that allows the development of technologies such as cryptocurrencies and what we call the Internet

The  blockchain (or blockchain in Spanish), is a technology that allows you to create a ledger distributed in a computer network without the need for a central server or database . Updating and managing this accounting book can only be done in consensus with all the parts that make up the network.

For this reason, the computing power of all nodes in the network is used not only to enter information, but also to protect it against unauthorized modifications. As a consequence, the blockchain allows very high levels of security to be achieved compared to other technologies.m

How does blockchain technology work?

For blockchain technology to work, it is first necessary to create specific software for it. This software allows computers to create the network that will run the blockchain in a distributed way. As it happens in the case of Bitcoin and other cryptocurrency software . Generally, this software is open-ended and protected with free software licenses . This implies that they are public, transparent and can be used, reviewed and contributed by anyone.

As it does not have a database or a localized server, a blockchain-type network is attributed the characteristic of being a distributed network . This means that the information is replicated in all the computers in the world that are connected to the same blockchain. In the event that more than 50% of the computers that make up that blockchain network are not from the same person or company, we can say that the network is decentralized. With this we can say that it does not have an "emission, control or power center" .

In essence a blockchain network is just a database that allows new records to be read and written. All this without being able to modify anything that exists in it. All the records stored in it are linked to each other with very advanced mathematics. Making it impossible to include something that is not consistent with the rest of the included records.

How is a blockchain built?

Now the construction and operation of the blockchain depends on a series of elements that we will examine below:

Blocks

A block is a set of committed transactions and additional information that has been included in the blockchain. Each block that is part of the chain (except the generating block, which starts the chain) consists of:

An alphanumeric code that links to the previous block

The “package” of transactions it includes (whose number is determined by different factors)

Another alphanumeric code that will link to the next block.

The block in progress tries to find out with calculations the third point that we have indicated. A code that follows certain rules to be valid and can only be obtained by testing non-stop. But how are these blocks generated? Well this is the work of the next element to examine.

Miners

Miners are dedicated specialized computers or equipment that bring computational (or mining ) power to the bitcoin network. This power is used to verify the transactions that are carried out. Every time someone completes a block, they receive a reward in the form of bitcoins and / or for every transaction that is made.

Nodes

A node is a computer / chip connected to the bitcoin network using software that stores and distributes a real-time updated copy of the blockchain . Every time a block is committed and added to the chain, it is communicated to all the nodes and it is added to the copy that each one stores.

One of the biggest curiosities that the bitcoin protocol has is that each unit is not a file as such, which is sent as if it were a movie or song, in the style of a P2P protocol such as BitTorrent. Actually, it occurs is a record of the change in ownership of a specified number of bitcoins in the blockchain. The most common node software in the Bitcoin network is the Bitcoin Core .

Of course, all cryptocurrencies follow this three-part structure, each with its own peculiarities. But this simple form of operation guarantees the maximum security provided by the blockchain.

Usefulness of blockchain technology:

The profits of the blockchain are quite a few. In fact, it is about implementing in multiple sectors in a technological career that will forever change indispensable aspects of our individual and collective life.

Just as the Internet revolutionized the way of creating, transmitting and consuming information, with blockchain technology we are at the door of what is called the Internet of value or the Internet of money.

Blockchain technology is essential in the creation of cryptocurrencies. These can be used to transfer value between people around the world. In addition to digitizing the property of everything that has value (whether tangible or intangible), it allows us, among other things, to create immutable records of properties and digital assets that can be transferred between people without having to require a trusted intermediary such as so far (banks, notaries .The blockchain and the way it works, makes thistechnology one of the safest we have. All this thanks to its distributed structure, the use of strong cryptography and a powerful consensus system that ensures the integrity of the data.

conclusion

At this point we can say that blockchain technology is one of the most powerful tools we have today. Its capabilities and utilities are barely being explored. However, technology has proven its suitability in different uses, radically transforming the way we do things.

Exploring and further developing this technology will take us to a point where we can interconnect the world more. All without compromising our privacy and the security of our systems and data. Thanks to this, we can say that blockchain technology takes us to the next technological evolutionary step.

What is an ICO: Analyzing the concept of "Initial Coin Offering"



What is an ICO : Introduction

Lately, the world of finance has undergone great changes. One of the biggest changes in the last two years has been the introduction of Initial Coin Offering (ICOs). It is no wonder that one of the most popular questions in the cryptocurrency world has been What is an ICO ?

Although you may be familiar with some popular cryptocurrencies like Bitcoin and Ethereum, you may not be as familiar with ICOs.


However, before going into details of the ICOs, I need to make sure you have a fair understanding of the technology behind the ICOs, chain blocks and intelligent contracts . If you already have confidence in your understanding of these two technologies, feel free to jump into the "Concept of an ICO".

So, let's get started!

What is an ICO : Blockchain

A blockchain is not Bitcoin or any other cryptocurrency. No. It is just that cryptocurrencies use the blockchain . Simply put, a block is a group of transactions. The chain is a group of blocks that are connected to each other. Put those two words together, and there you have it, a blockchain .

All these blocks joined in the chain form a public database. This database is public because it is shared with hundreds or even thousands of computers. We can think of these computers as the blockchain / database servers .

Source: steemit

(These teams are called nodes .)

Any changes made to the database must be verified by more than 51% of the nodes. If they are not verified, the change cannot be made. This makes it very difficult to hack the database because you would need to hack more than 51% of the nodes and the nodes are normally owned by many different people and companies.

This effect is called decentralization , which means that the database is not stored in one place, but in many different places.


When we talk about “changes” in the database, it is about data transactions. In the case of Bitcoin, for example, these are Bitcoin transactions, people who transfer Bitcoin to other people.

(For more information on blockchain technology , read our Explanation of Blockchains guide .)

Now, let's move on to the next piece of technology that ICOs use.

What is an ICO : Tokens and smart contracts

The transactions that occur in the database are not limited to financial transactions like those of the Bitcoin block. Instead, they can be anything of value.

For example, the value of the transaction could be a house or part of a business. Of course, you can't physically place a house or share a company on the blockchain . Instead, you need something that represents the value of the house or part of the company.

Tokens

I welcome you to the world of tokens . A token is created to represent the value of something. For example, a house, electricity, store credit, or part of a business.

These tokens can not be applied directly to the chain block , as usually can only process their own transactions cryptocurrency as Ether in the block chain ethereum Bitcoin and the block chain Bitcoin.

Instead, tokens must use an app.

Smart contracts

Applications that use tokens are called smart contracts . However, they seem like a lot of code. Therefore, developers create dApps (decentralized applications) for use by regular users.

You can think of dApps as the interface you see when you use Instagram or Twitter, but behind Instagram and Twitter there are a number of encrypted applications. These encrypted applications are smart contracts .


These smart contracts are unique for many reasons. These reasons include the following:

They can automatically process transactions.

Operations are triggered by certain conditions that are recorded in the smart contract.

Imagine it like this: " When Pedro pays 100 ether in the smart contract, Juan's house token is sent to Pedro."

They use blockchain technology, so the terms of the smart contract cannot be changed.

For more information on smart contracts , see our What is a Smart Contract Guide .

So now that you know the two pieces of technology that have made ICOs the success they are today. Let's talk about what an ICO is !

What is an ICO : The ICO concept

ICOs can be compared to IPOs. An IPO is an Initial Public Offering, this is a term used when a company first launches its shares on the stock market. Before that, the company's shares were private and its shares were not available to the public. For this same reason, it is called a Public Offer of Sale. It is important to understand the differences between the IPO and what is an ICO .

When companies are publicly traded, interested individuals and companies can buy their shares at a specified price.

The shares can be used to vote on specific shares that the company is taking, as it has actually become a partial owner! If the company does well, the value of its shares increases similarly and you can sell them at a later stage for profit.

ICOs are not as clean as IPOs. The Initial Offering Coin can be considered as a means of collective funding.

With an Initial Coin Offering , you get a token. These tokens do not give you any authority or long-term ownership of the project; they are simply a means for the project to raise funds.

However, once again, if the project is successful, the value of your token could increase. Therefore, you could sell the token for more than you bought it (if you want, that's it).

What is an ICO : How do ICOs work?

To simplify the basic concept of an Initial Coin Offering or better explain what an ICO is :

How ICOs work | Source: cleveroad

If you want to start your own cryptocurrency or dApp, you will need a lot of money. To get this money, you can run an ICO. If people are interested in your ICO and think the project is good, they can buy your token for a certain price.

These prices are normally set in Ether (ETH), however some projects accept more than one cryptocurrency, typically Bitcoin (BTC) and Litecoin (LTC).

When you invest in an Initial Coin Offering , you send your ETH, BTC, LTC, or whatever currency you want to pay, to the ICO smart contract. This smart contract sends you the amount of token you have paid.

There are normally two main reasons to buy token from ICOs:

Sell ​​the token in the future at a higher price.

To use the token for your purpose.

Tokens typically provide token holders with benefits such as discount fees, a share of the benefits, or premium features.

Some tokens can be used to buy things in the project app when it is created, these types of tokens are known as utility tokens.

What is an ICO How do investors know which ICOs to invest in?

Just because the idea is good does not mean that the project will be good!

An idea may seem very good, but then it fails completely once you raise the funds. It is true, unfortunately. There have even been cases where ICOs have turned out to be a complete scam! So now that you understand what an ICO is , make sure that when researching an ICO you are careful.

Investors often pay close attention to the following things:

The competition.

Does the project have a competitor? If so, what do they do differently from their competitors?

The team.

Who is the team working on the project? Do they have good and relevant backgrounds? Have you worked on similar projects before?

The use of funds.

How will they use the money they collect from their ICO?

The road map.

What do you plan to do and how long will it take?

Tokens

How many tokens will there be? What is the price of each token? How many tokens will be sold in the ICO and how many will be saved for other things?

Another alternative could be the use of an Initial Coin Offering monitoring application . There are separate companies that are being formed that spend their time researching, reviewing, categorizing, and following market news around different ICOs. One of these applications is Coinview , which allows its users to track the performance of different ICOs and monitor their performance in cryptocurrencies.

There are many questions, I know. The good news is that you can usually find most of the answers on their white paper! Feedback on the project and reviews are important. But, you should always make sure to do your own research to form your opinion. A large amount of information on the Internet may be inaccurate or based on emotion!

What is an ICO What is a White Paper?

Knowing what an ICO is is almost as important as understanding what a white paper is. A white paper is a document that presents the idea for which the ICO is raising funds. It contains much more detail than the descriptions you will find on the Initial Coin Offering website .

You'll find things like system architecture, the need for his idea (the problem he's solving, etc.), token uses, market data, and growth projections.

You'll also often see a list of team members, investors, and advisors. Although, this is normally displayed on the website itself.

For an ICO to be successful, you need a good solid white paper. If you ever find a live ICO but it doesn't have a white paper, I recommend that you don't buy any tokens from it.

Very few people will want to invest in a project that does not have a white paper.

A good white paper will also provide information on what the funds will be used for. The focus should be on the funds used to grow the business and not on personal gain. This is important!

How to launch an ICO

If you are creating an ICO and you are not investing in one, you need to understand how investors research ICOs. You need to understand that they need to see all the things we have mentioned, otherwise they will not trust your ICO.

You need to keep your community up-to-date, treat it with respect, and make sure your project can do what it says it will. Always make sure you can deliver your project on time, and never tell lies.

So this is my guide to ICOs, thanks for reading! Now that you know what an ICO is , what do you think of this new way of raising funds for ideas? Do you want to invest in an ICO? Do you want to create an ICO? Let me know!

Also, if you have any questions, I will gladly answer them!

Blockchain in communication
Blockchain in communication

The communication gap has been drastically reduced in the past few years of Internet evolution. We have the advantage of getting in touch with everyone in every corner of the world. The Internet made it possible to build many types of technologies and applications on it. One of the most important areas that revolutionized was communication. With the help of mobile phones, laptops, desktops, tablets and other communication devices, we can communicate efficiently. However, there is a problem that needs to be solved. And develop a blockchain in communication can be effectively achieved through blockchain.


What's the problem with communication?

Many applications are created for the users and store the user details on central servers. The main concern with central servers is that those who are authorized can manipulate or misuse our data. The people have no control over their data. Whatever you have communicated with your friend, colleague or business partner is there for others to take a look at. The possibility of fraud is very likely. Let's say you are communicating with someone about something by email and the recipient may be deleting or deleting the messages. And when there is a dispute over the data being sent, a file or an attachment, it is difficult to find out who is to blame. The internet has its own advantages and disadvantages.


More efficient technology is required that records all communications as transactions that can then be retrieved and retrieved. It is blockchain technology. When we integrate blockchain into communication channels and systems, all messages, along with attachments sent to one or more recipients, are stored in one block. The block continues to grow and each of the blocks is secured with cryptographic hash functions. Blockchain is ultimately cryptographically secure and the need to remove centralization is automatic. Blockchain will offer decentralized communication systems using dApps or decentralized applications.

Decentralized applications - the solution

Dapps can be created on ethereum, which enables smart contracts to be created. These intelligent contracts are written in the programming language as required. Since Ethereum supports the use of solidity, it can be used for writing smart contracts. The smart contracts should adhere to the standards set by the erc ethereum community. Then it is really a decentralized application.

In this technological age, the use of communication tools is increasing rapidly and if decentralization begins, this will revolutionize the way we communicate with our colleagues.


Ethereum ERC-20 Token - A standard token for an entire ecosystem

Ethereum is a blockchain designed in order to have functionalities beyond those of creating and registering transfers of your own cryptocurrencies. Its protocol was designed with broader and more ambitious functionalities. Among those features, the ability to create other tokens to be run on your blockchain stands out.

This curious Ethereum functionality is possible thanks to the ERC-20 tokens . In this article, we will examine some elements that will allow us to know everything related to one of the most important technologies implemented by Ethereum.

The origin of ERC-20 tokens
These tokens were born thanks to the introduction of the EIP-20 (Ethereum Improvements Proposal). With this enhancement, Ethereum developers wanted to implement a standard system for tokens within smart contracts. Ethereum developers would use this system to provide the basic functionality to transfer tokens, as well as allow the tokens to be approved so that they can be spent by another third party on the blockchain.
The idea was presented by the developer, Fabian Vogelsteller in the official Ethereum GitHub repository in 2015.
What are ERC-20 tokens?
ERC-20 tokens are essentially a smart contract . These smarts contracts use a standard interface that runs on the Ethereum network. Thanks to this, they obtain great flexibility and usability in different scenarios. All this governed by a set of rules that allow interoperability in the Ethereum ecosystem, with the wide variety of tokens and other decentralized applications ( DApps ) compatible with each other.
The purpose of these rules is to allow the coexistence of other tokens on Ethereum, without diminishing the evolutionary capabilities of blockchain technology or the platforms that use them. In this way, DApps developers have ample freedom when programming their applications and effectively tokenizing their projects. Thanks to this, the ERC-20 tokens are able to achieve the objective for which they were created; allow any Ethereum token to be reused by other apps - from wallets to any decentralized app.
How does an ERC-20 token work?
Without delving too much into the technical aspect, the operation of an ERC-20 token is simple. The developers of Ethereum worked hard to make this standard easy to use in software development. This has a clear objective: to facilitate its adoption and use by other developers.
To achieve this, the design of the token interface has a series of well-identified and defined elements. Each of these elements has a specific utility and function, and can be used by any DApp built to use this standard. To explain these elements, let's take Golem's ERC-20 token as an example :
  1. Name. With this element we can name the token created and managed by the DApp. It is used to identify and differentiate the created token from other existing ones. For example, the name Golem is the name of the Golem Distributed Computing DApp token .
  2. Symbol. This element refers to the symbol or abbreviation of the token. Following the example above, this field would define the symbol of the Golem token, the GNT.
  3. Decimals (Decimals). This field is used to define the number of decimal places that the token will use.
  4. Total supply (TotalSupply). This indicates the total supply of tokens that will exist. In the case of Golem, the total supply is 1,000,000,000 GNT tokens. This is a value that is decided by the developers of the new token, and may be associated with different economic rules depending on the consideration of their developers.
  5. Balance (BalanceOf). With this element, you can know the balance that exists in a certain account on the network. In this case, it would be the amount of GNT tokens that a user has in a certain wallet.
  6. Transfer. This is one of the elements that allow us to control the assets that we have in our accounts. Using it, we can send money to other accounts that are within the network. The ERC-20 token has two elements that allow this type of actions.
  7. Approve. Thanks to this function we can make withdrawals from accounts.
  8. Allowed (Allowance). This is a special element of control, since it allows us to know the amount of tokens that we can withdraw from a certain account. Together with the Approved function, it allows you to have accounting control of the tokens within an account and enable automated management options for them.
ERC-20 tokens, in essence are a smart contract
It is thanks to each of these functions that the ERC-20 tokens have the great versatility that characterizes them. It allows a rapid implementation of the same for various uses without having to alter its structure. Also thanks to the fact that these run on the Ethereum blockchain, if traceability and auditability are guaranteed, then their actions can be tracked on the Ethereum blockchain.

Advantages of ERC-20 tokens
The fact that ERC-20 tokens are a standardized interface has great advantages for the entire Ethereum ecosystem . Among those advantages we can point out:

  1. It makes it easier for developers to unify work criteria within the Ethereum blockchain.
  2. Reduces the complexity of tokenized systems.
  3. It improves the interoperability of the systems, since the standardization advocates a programmatic horizontality of the software.
  4. Economically speaking, the existence of ERC-20 tokens helps liquidity within Ethereum. This is because ICOs made to finance projects, and their use as a base of work within them.
  5. Elimination of risk factors that can break or misrepresent smart contracts.
  6. Reduced incompatibilities and increases interoperability capabilities.
  7. ERC-20 tokens allow the Ethereum blockchain to have multiple uses.

Conclusions
Ethereum is certainly a blockchain designed to support a multiple, well-defined and interoperable ecosystem. But these characteristics would not be possible without the use of smart contracts and advances such as ERC-20 tokens. It is thanks to the use of these two tools, that Ethereum has become the second most important cryptocurrency in the crypto world. But that's only the beginning, the evolution of Ethereum as a blockchain is leading to existing projects improving, and new projects adding value to it. Under this scenario, the development of Ethereum and technologies such as ERC-20 tokens is promising. One more demonstration that the tokenized world is possible and that it is only a matter of time to develop it.


Create your own ERC-20 tokens

 
In this new article we are going to create our own Learn Blockchain Coins (ABC)  tokens with the ERC-20 standard to create fungible tokens. We will use one of the possible implementations that meet the ERC-20 standard with which we can later create tokens with specific parameters.
Abstract contract ERC-20
What we are going to do is create an abstract contract that defines the necessary functions for our ERC-20 contracts. For those who don't know what an abstract contract is, the concept is similar to an abstract class. An abstract contract is a contract that cannot be instantiated but can be used as the basis for other contracts. A contract becomes abstract when at least one of its functions does not include implementation, leaving the classes that inherit from said contract to be responsible for the implementation.
contract ERC20Interface { 
    function totalSupply () public view returns (uint); 
    function balanceOf (address tokenOwner) public view returns (uint balance); 
    function allowance (address tokenOwner, address spender) public view returns (uint remaining); 
    function transfer (address to, uint tokens) public returns (bool success); 
    function approve (address spender, uint tokens) public returns (bool success); 
    function transferFrom (address from, address to, uint tokens) public returns (bool success); 
 
    event Transfer (address indexed from, address indexed to, uint tokens); 
    event Approval (address indexed tokenOwner, address indexed spender, uint tokens); 
}                                                      
The purpose of each of the functions is explained later in the code.
Safe maths library
It is important to use safe math operations that throw exceptions in case the result of a calculation is not correct. With this library we would avoid, for example, the overflow problem generated by adding two numbers whose result is greater than the maximum accepted by the type used. For example, using the uint8 type the largest number we can represent is 255 (2 8 -1). If we add 255 to 1, the result would be 0 because overflow occurs, and that is not the expected result. These kinds of errors have caused problems in ERC20 token contracts recently and should be avoided. You can read more about it at https://media.consensys.net/detecting-batchoverflow-and-similar-flaws-in-ethereum-smart-contracts-93cf5a5aaac8
The code for our safe math operations library would be:
ERC-20 token contract
The following contract implements the functions of our abstract ERC-20 contract and also adds the state variables for the symbol, name, total number of tokens and number of decimals of our token. When the contract is created, the tokens are initially assigned to the creator of the contract.
contract ERC20Token is ERC20Interface { 
    
    using SafeMath for uint; // use our safe math library 
    
    string public symbol; 
    string public name; 
    uint8 public decimals; 
    uint _totalSupply; 
    
    mapping (address => uint) balances; 
    mapping (address => mapping (address => uint)) allowed; 
    
    // ------------------------------------------------ ------------------------ 
    // Constructor 
    // --------------------- -------------------------------------------------- - 
    constructor ( 
        uint256 _initialAmount, 
        string _tokenName, 
        uint8 _decimalUnits, 
        string _tokenSymbol 

    ) public {
        balances [msg.sender] = _initialAmount; 
        _totalSupply = _initialAmount; 
        name = _tokenName; 
        decimals = _decimalUnits; 
        symbol = _tokenSymbol; 
    } 
    
    // ----------------------------------------------- ------------------------- 
    // Fixed Total supply 
    // ------------------ -------------------------------------------------- ---- 
    function totalSupply () public view returns (uint) { 
        return _totalSupply; 
    } 
    
    // ----------------------------------------------- ------------------------- 
    // Get the token balance for account `tokenOwner`
    // ------------------------------------------------ ------------------------ 
    function balanceOf (address tokenOwner) public view returns (uint balance) { 
        return balances [tokenOwner]; 
    } 
    
    // ----------------------------------------------- ------------------------- 
    // Transfer the balance from token owner's account to `to` account 
    // - Owner's account must have sufficient balance to transfer 
    // - 0 value transfers are allowed 
    // ---------------------------------------- -------------------------------- 
    function transfer (address to, uint tokens) public returns (bool success) { 
        balances [ msg.sender] = balances [msg.sender] .sub (tokens);
        balances [to] = balances [to] .add (tokens); 
        emit Transfer (msg.sender, to, tokens); 
        return true; 
    } 
    
    // ----------------------------------------------- ------------------------- 
    // Token owner can approve for `spender` to transferFrom (...)` tokens` 
    // from the token owner's account 
    // 
    // https://github.com/ethereum/EIPs/blob/master/EIPS/eip-20-token-standard.md 
    // recommends that there are no checks for the approval double-spend attack 
    // as this should be implemented in user interfaces 
    // ---------------------------------------- --------------------------------
    function approve (address spender, uint tokens) public returns (bool success) { 
        allowed [msg.sender] [spender] = tokens; 
        emit Approval (msg.sender, spender, tokens); 
        return true; 
    } 
    
    // ----------------------------------------------- ------------------------- 
    // Transfer `tokens` from the` from` account to the `to` account 
    // 
    // The calling account must already have sufficient tokens approve (...) - d 
    // for spending from the `from` account and 
    // - From account must have sufficient balance to transfer 
    // - Spender must have sufficient allowance to transfer 
    // - 0 value transfers are allowed
    // ------------------------------------------------ ------------------------ 
    function transferFrom (address from, address to, uint tokens) public returns (bool success) { 
        balances [from] = balances [ from] .sub (tokens); 
        allowed [from] [msg.sender] = allowed [from] [msg.sender] .sub (tokens); 
        balances [to] = balances [to] .add (tokens); 
        emit Transfer (from, to, tokens); 
        return true; 
    } 

    // ----------------------------------------------- ------------------------- 
    // Returns the amount of tokens approved by the owner that can be 
    // transferred to the spender's account 
    // - -------------------------------------------------- --------------------
    function allowance (address tokenOwner, address spender) public view returns (uint remaining) { 
        return allowed [tokenOwner] [spender]; 
    } 
    

    // ----------------------------------------------- ------------------------- 
    // Fallback function. Don't accept ETH 
    // ------------------------------------------- ----------------------------- 
    function () public payable { 
        revert (); 
    } 

}

Deploy our contract in the Ethereum test network
Once our contract is defined it is time to deploy it on the Ethereum testnet. For this we will only have to copy the previous code in Remix indicating the parameters to initialize our token contract (supply, name, decimals and symbol).
Keep in mind that the supply must include the decimals, that is, if you want there to be a total of 1,000 “complete” tokens and they are divisible by 2 decimals, in supply you should enter 100,000 units (or 1,000.00 tokens).
Etherscan
We can see that the contract was created successfully at address  0x5131DbF853ab6341298938fAc2Ca18b1dd172feA in Etherscan:
We are already the proud holders of 1,000 ABC tokens ????
From now on we can start playing by sending and receiving tokens.
Add our ABC token to MetaMask
Having followed the ERC-20 standard, we can use any wallet that supports that standard.
MetaMask does not currently support the sending of ERC-20 tokens, but it does help us to visualize them. To view our tokens it is necessary to indicate the address where the contract was deployed and the symbol and number of decimals will automatically be filled in:
Once the token has been added, we can see our balance of ABC tokens:
Send ABC tokens to another address
As we said, it is not possible to send ERC-20 tokens only with MetaMask but we can connect MetaMask and MyEtherWallet to send tokens. MyEtherWallet has the option of accessing an account using MetaMask and thus not having to enter our private key directly:
We will need to add the ABC token to MyEtherWallet:
Once I do this, we will see our balance of ABC tokens in MyEtherWallet and we can send tokens to another address:
We confirm the sending of the transaction in MetaMask:
Once the transaction has been mined we can see the transaction in Etherscan and that the balance of Account 1 is now 900 ABC tokens and Account 2 now shows 100 ABC tokens:
      
And so far this article. I hope you liked it and if you want ABC tokens do not hesitate to contact me and I will share a few with you, who knows, maybe in a few years they are worth a fortune! 


Introduction to ICO in the blockhain industry, Opportunities or risks?

Many terms have been realized in recent years in the crypto currency industry. We all know about blockchain ideas and also know whether it's bitcoin even though

ICO

Since lately and towards 2017 we often hear about ICO. ICO - Initial Coin Offering. Used to raise funds as a starting point for capital. Something a company will lay out on a related project trip on the website and also provide a white paper for general reference. this case usually applies in the field of crypto currency. Karmacoin was the first to launch an ICO in April 2014 through the Karmashares project. So that in May 2017, around 20 ICOs will emerge a month.

Ethereum Blockchain predecessor in ICO

More than 50% of the total market share in crypto currencies using ICO through the Ethereum Blockchain. However, there are a handful of ethereum ICO networks involved in phishing, ponzi schemes and also other scams. This case has made the blockhain industry worse. rather than revolutionary to the Ponzi schemes.

What kind of ICO works

Let's look in more detail with regard to ICO in crypto, good and bad ICO is crowded people still call "Gold Rush". Crowded who has become a millionaire than ICO. Cuba, see below

The explanation below shows. Everyone transfers ethereum or coin to get involved in ICO. After completing the period for collecting funds, the amount collected will be disbursed. Habit after ICO, the management team will deal with the next step which is accompanying blockchainX.com . If you don't know about blockchain, you can also check this post.

.How to make sure we are steps so that we are not affected by Scam

This case is difficult to explain because the ICO is in an unregulated state or is not escorted by any party. This crowdfunding has attracted many scammers. This makes our money at risk if we are wrong in choosing ICO. So it is certain that we want the money we have given out to produce results. So follow the steps that I stated below.

1.The first case must be for research and also familiar with the founding background of the ICO Founder. Easy tips, type copy name, search in linkedn.

2.Project Check introduced. Make sure the project being introduced is transparent. It must reach 100% of the level including the name, business plan and where they are located. the most important is where to contact them if there is a problem.

3.Make sure what blockchain is used as a platform. code used.

4.There should be a legal framework between developers and investors including terms and conditions.

5.Avoid ICOs that have affiliates or chains. more inclined towards ponzi schemes.

6.Make sure your money is saved in the escrow wallet. The custom escrow is to have multiple keys for account access. 1 key must be held by a neutral third party to two parties, the developer and also the investor.

I hope Mr. ladies may judge the ICO themselves. In opportunities, there are risks. at risk there is an opportunity. we can reduce the risk that exists with science. so multiply for research before joining ICO.

Exchange Platform - What are cryptocurrency exchange houses and how do they work?
 
Also known as cryptocurrency exchange houses, exchange platforms are companies that buy and sell cryptocurrencies for fiat currencies (dollar, euro, real, pesos) or for other cryptocurrencies.
In this sense, the exchange platforms are true pillars of the crypto world. They fulfill the important function of extending access to cryptocurrencies to a broader audience. Ultimately, its existence allows for greater integration of crypto with the rest of the economy.
Since Bitcoin's inception in 2009, many things have changed with respect to exchange houses. Initially, when the cryptocurrency was still taking its first steps, the operation of the exchanges was marked by amateurism, low trust and countless scams.
After more than ten years, the scenario is different. In a market valued at more than $ 900 billion, and expected to grow even more in the coming years, exchanges have become professional and have become gigantic businesses. Nowadays, transparency and compliance are key for this market.
Exchange Platform: What is it? How does it work?
Registration at the exchange office
In most exchange houses, the first step will be to register on the platform. For this, it will be necessary to provide your data, copies of your documents and, in some cases, even a confirmation selfie.
This process of registration and confirmation of identity is known as KYC, which is the acronym for Know Your Customer .
Although this process gives more security to the company, which will have a mountain of data from each of the registered people, from the customer's point of view the need to register can be uncomfortable.
After all, the KYC is quite questionable. In addition to being bureaucratic, as it can take a few hours to become effective, such a process ends with anonymity, which is one of the main pillars of the cryptocurrency industry.
Deposit at the exchange office
Once the registration has been made and approved, the buyer must deposit their $ 100 in their account on the exchange platform. In general, platforms accept payment in several ways:

  • Credit or debit card;
  • Wire transfer;
  • Ticket;
  • Virtual payment platforms (PayPal, Neteller, Skrill, etc.).

The largest exchange houses on the market are custodians. That is: they store their money. However, for those seeking more security, this may be another obstacle to traditional trading platforms.
First of all, the question of trust: you have to trust that Exchange will correctly store your money, that it will not be hacked and so on.
Also, the big problem may be the difficulty of moving such a value afterwards. If you want to transfer your $ 100 back to your bank account, you will probably have to pay some service charges.
Buy / sell at the exchange office
Once the $ 100 has been registered and deposited into your Exchange platform account, it is time to buy your Bitcoins. For that, there are two options:

  • Limited orders : in this case, the buyer enters the amount he wants to pay. If the platform finds a seller who accepts the price, the purchase is made.
  • Market orders : in this case, the purchase is made at the best price available at that precise moment.

Once the transaction is completed, the purchase of your Bitcoins is completed.
What is the largest exchange platform?
According to CoinMarketCap , the largest exchange platforms, in terms of liquidity, are:

  • HitBTC;
  • Bitfinex;
  • Binance;
  • Global Huobi;
  • Kraken.

All major exchanges offer crypto buying and selling services. If you want to use them, you should check if they operate in your country, if they accept your local currency and what fees are charged. In addition, all of them require registration (the so-called KYC) and are custodians.
Use Crypto Exchange to exchange cryptocurrencies!
Conscious of the main needs of the users of the crypto world, we create the Crypto Exchange . Based in Chile, we offer our services in all Latin American countries.
At CIC we do not work with fiat currencies (dollars, pesos, reals, etc.), but only with exchanges between cryptocurrencies. On our site, we offer the possibility of exchange between more than 110 types of crypto, with altcoins, stable coins and tokens.
To offer the best possible price to our clients, our algorithm searches for prices on the main exchange platforms in the world and displays them on the main page of our website.
The main characteristics of our service are:

  • Anonymity: We do not have any type of KYC. We value anonymity above all, and to use the CIC it is not necessary to register.
  • No commission: We do not charge commissions for making transactions between one cryptocurrency and another.
  • No custody: we do not store your money. Cryptocurrencies leave their virtual wallet and, after the exchange, return to their virtual wallet.
  • Security: during transactions, you can monitor the status of your money at any time.
  • Speed: each transaction takes no more than a few minutes to become effective.



Where to trade Cryptocurrency Exchange?
Where to trade cryptocurrency Exchange?
Centralized exchange

Do develop a own Centralized cryptocurrency exchange is an intermediary between traders who make deals. Traders who sell and buy cryptocurrencies by placing a market or pending order. For services, the centralized Stock Exchange Commission averages from 0.1% to 3% of the number of transactions. There are several "margin" trading services. The stock exchange is centralized - we wrote about it yesterday. Of course, CEX has several weaknesses: security problems, theft, and frequent falls from the site, as well as efforts by various countries to monitor their activities. We give you some striking examples: in January, $ 732 million in NEM and XRP tokens. 
Decentralized stock exchange
By using P2P exchange decentralized payments solve security problems. Transactions that occur without intermediaries on the blockchain: each transaction is recorded in a publicly distributed list, copies maintained by all network members. Transactions between traders The DEX stock exchange is carried out by multi signature verification. In this case each user has his own key, and Exchange does not have access to the wallet. This also protects the platform from fraudsters and hackers: if the Exchange does not have direct access to money, there is no need to waste energy on hacking. Also the Exchange network blockchain is located on several servers, which guarantees their continuous operation. For commissions, on most DEX platforms they do not exist or are significantly lower than centralized exchanges. Unfortunately, decentralized exchanges cannot be compared to traditional ones, for example, with Bittrex in terms of functionality. Exchange liquidity, number of currency pairs, trust of users is only a matter of time.

Hybrid platform

Hybrid Exchange projects are just beginning to emerge, and it's too early to talk about their strengths and weaknesses. It is known that they will take all the best from the traditional stock exchange: a tool, a pool of liquidity, speed - and interesting features of the decentralization: security and transparency of transactions.

Trading instruments: cryptocurrency bot


  • Together with a trading platform appearing on the crypto stock exchange, there is a script that automatically makes transactions with assets. Such scripts are called bots. To complete a transaction, bots carry out detailed analysis of market information and make decisions based on data received. Traders can choose one of four types of b o t: Trading bo t analyze information received from crypto stock exchange and making decisions regarding buying and selling cryptocurrency based on the parameters chosen by the trader.
  • Arbitration bots monitor changes in quoted cryptocurrencies on various stock exchanges and automatically make transactions to benefit from the price difference.
  • Adjusted bots or bot sequences, used to make transactions with standard parameters that are carried out manually or selected in automatic mode.
  • A bot script is basic software and independent traders can configure bots that work on their basis.

Risks associated with bot trading

By providing access to their own funds, each trader is a potential risk. Russian software : not every bot available today is launched by a team of professional and experienced crypto traders. In addition, bots with errors in the code may not only be inefficient, but also cause huge financial losses. Instantaneous cryptocurrency collapse: cry ptocurrencies have extremes, because they are very sensitive to collapse. Bots can work only in typical situations, and experienced traders will be able to predict the situation in the market. Penip uan: in unregulated markets, cryptocurrency fraud cases occur quite frequently, and bots are no exception. There are lots of free bots now, and should be avoided: along with them you can download rogue software that helps scammers get access to personal key wallets or use nod traders to mining.


Understanding Token ERC-20
What is Token ERC-20?
Token ERC-20 is a token that is created and used only on the Ethereum platform. Token ERC-20 follows a number of standards so that it can be shared, exchanged with other tokens, or transferred into a crypto wallet.
The Ethereum community makes these standards with three optional rules and six BASIC rules

CHOICE REGULATIONS
  • Token Name
  • Symbol
  • Decimal (up to 18)

BASIC REGULATIONS
  • total Supply
  • balanceOf
  • transfer
  • transferFrom
  • approve
  • allowance

What is Ethereum?
To understand ERC-20, you first need to know what Ethereum is.
Ethereum is a decentralized computer network that has two basic functions. Blockchain that can record transaction traces and a virtual machine that can make smart contracts.
With these two functions, Ethereum can support decentralized applications (DApps). DApps is built on the existing Ethereum blockchain, on the basis of the technology. Instead, Ethereum charges developers with computing power on their networks, which can only be paid using Ether.
Depending on its purpose, DApps can make an ERC-20 token as a currency, as a stake in a company, as a point in a loyalty program, or even as proof of home ownership or a certain amount of gold.

What is the role of Smart Contracts in this case?
Smart Contracts are used to make ERC-20 Tokens. In addition, it is also used to facilitate token transactions and record token balances in an account.
Smart contracts are written in a programming language "Solidity" on the basis of If-This-Then-That (IFTTT) logic.
What happens after the smart contract creates a token?
Once created, a token can be exchanged, finished, or given to someone else. ERC-20 is a universal language used by all tokens in the Ethereum network. ERC-20 allows a token to be exchanged for another token.
It is like we want to make a crypto-casino . Just like a casino in general, we want all the players who come to use the chips provided by the casino, to be simple. So that players exchange their fiat money for tokens that we have and then play at the poker table.
Also read: What are Smart Contracts?

How does it work?
For example, let's look at each of the rules for ERC-20 in our crypto-casino .
Starting with the optional rules ( optional ):

  • Token Name: Blu Chip
  • Symbol: BLU
  • Decimal: 2 *

* means the smallest token value that can be used in a bet is 0.01 BLU. We can just use the decimal to 18 so that the smallest bet value is 0.000000000000000001 BLU, but for this example we make it simple.
For the basic rules:

  • Total Supply ] means indicates the total amount of inventory ERC-20 Tokens made.

Example: The first thing our Casino needs is how many BLU tokens are played. Let's just say at our poker table there are 10 BLU and filled by 10 players.



  • Transfer ] means allowing the token to be transferred in a certain amount from [ TotalSupply ] to someone's account.

Before the game starts, players must get the BLU token from the dealer; each player gets 1 BLU.


  • BalanceOf ] is a function to return a number of tokens from an existing address to his account.

In the first round of poker, five players look at the cards in their hands and decide not to play. The other five players decide to bet 0.5 BLU. With the [ BalanceOf ] function , we can see that there are 5 players who have 1 BLU and 5 players who have 0.5 BLU.


  • TransferFrom ] is a function that allows a user to transfer his token to another user.

When one player wins the first round, he gets 2.5 BLU from the other players. But so he can get tokens from other players, he needs [ TransferFrom ]. Because without the [ Transferfrom ] function , it means that nothing prevents one player from stealing BLU from other players.


  • Approve ] checks transactions of total token inventory. No more or less certain.

Another way to maintain the integrity of our crypto-casino is to make sure no one brings extra BLU to the poker table. Thus, Approve allows for exchanges to occur by checking that the number of BLUs on the table remains 10.
  • Allowance ] is a function that checks the balance in a user's account and will cancel the transaction if there are not enough tokens.

In our crypto-casino , no credit is allowed. So, we need to make sure that each player has enough BLU to bet. If the player only has 1 BLU, then he cannot bet at 2 BLU.

What are the advantages of ERC-20?
ERC-20 makes things simpler.
Before there was an ERC-20 token, the developer might use other terminology in coding. Example; There is a token that uses [totalAmount] there are also other tokens that use [totalNumber]. Exchange and wallet are needed to build their own platform to accommodate the code of each token.
With a universal standard, new tokens can be placed on an exchange or transferred to a wallet automatically, after the wallet is created.
ERC-20 also made the creation of new tokens very easy and therefore Ethereum became the most popular platform for ICO in 2017.

What are the Drawbacks of ERC-20?
ERC-20 is not perfect. There are still a number of issues not addressed in the ERC-20 token standard.
There are some situations where tokens can be accidentally destroyed when used as payments for smart contracts because they don't use Ether. About $ 3 million lost because of this.
To remedy this, the Ethereum community is now setting a new standard under the name ERC-223. However, these standards are not compatible with ERC-20 so developers are encouraged to continue to use ERC-20 until compatibility is realized.
In April 2018, a number of exchanges held deposits and withdrawals of Ethereum-based tokens due to batchOverflow interruptions The disturbance is said to be a "classic integer overflow problem" and could potentially allow an attacker to "have a large number of tokens". It is noted, currently there is no traditional security approach to remedy these deficiencies.

Examples in the Real World
All tokens in the Ethereum platform are ERC-20 tokens. When this article was written, there were 245,148 tokens, among them

  • EOS (EOS) is currently the 5th largest cryptocurrency with a market cap value of $ 4.64 Billion, is trying to build a network that can take advantage of inter-blockchain communication .
  • TRON (TRX) was ranked 13th when this article was written and referred to as an " open-source protocol for the digital entertainment industry". Aim to launch a content platform with an ecosystem that connects everyone who creates different types of content.
  • VeChain (VEN), an " enterprise level public blockchain platform ", is the 19th cryptocurrency in terms of market cap, planning to implement Internet of Things (IoT) technology to provide private keys for each product to enable tracking.



What is Centralized Cryptocurrency Exchange?
Centralized cryptocurrency Exchange:

This is online platform and the most common way to trade cryptocurrencies.This includes buying / selling cryptocurrency with fiat currency (fiat currency / crypto pairing) and buying / selling cryptocurrency with other cryptocurrencies (crypto / crypto pairing). They can be regarded as an online market for the entire cryptocurrency network.

1.What does mean for exchange to concentrate?
 In the past, all organizations that manage finance used the term "centralized". Centralization means that there is a trusted intermediary to handle any assets that may exist in the transaction. For example, in a bank, a customer transfers their money to the bank. 
This institution now completely controls the client's funds. In many cases, this is safer than people who find ways to manage themselves. Banks can also provide various services, such as loans, because banks have large
Invested funds and established a trust relationship with customers.To develop a Centralized cryptocurrency exchanges are no exception. Users can store money in the exchange. The currency is now in the hands of the exchange, but the trust of the middleman makes it easy for the customer to recover the lost password or 2FA because the customer has granted the exchange full access to their account. 
This can also reduce the pressure on customers to control funds 100%. There are many stories of investors losing hundreds of thousands of dollars because they lost the private keys of their hardware wallets. If their money is exchanged centrally, they need not worry about this;recovery will be as simple as showing a passport or verifying their identity. 

2. What is the difference between centralized exchange and decentralized transactions? 
Cryptocurrencies and blockchain are decentralized in nature, so this allows transactions to also be decentralized. In short, decentralized cryptocurrency exchange (DEX) cuts off middlemen by creating a highly intelligent “trustless environment”. The transaction is done through smart contracts and atomic swaps, so the currency will never go through the escrow service-it is just peer-to and so on.DEX is still in its infancy and is not very popular yet, but decentralized trading in 2018 may make great progress.  


3. Do all centralized exchanges provide legal / encrypted matching?
All exchanges have a crypto / crypto pairing (ie 1 BTC trading 9 ETH), but not all exchanges have a statutory / crypto pairing (ie 1 ETH trading $ 900). One of the most popular exchanges offering legal / crypto pairing is:

Coinbase-the most popular in the world-supports Bitcoin, Bitcoin Cash, Litecoin and Ethereum Gemini-based on high standards in New York and the United States. Support Bitcoin and Ethereum Kraken-Kraken has multiple encryption / plain mail pairings, not just dollars and euros, which can be viewed on their website.Robinhood-A popular trading application that provides tablet pairing for Bitcoin and Ethereum.

4.Is the Transaction volume is important?

The greater the exchange trading volume, the less volatility and the less market manipulation. If Alice tries to buy 1 BTC for the exchange's current price of $ 10,000, and the transaction volume on the website is very high, then she can buy 1 BTC almost immediately. If the market price for a small number of websites is $ 10,000, she may eat all the sales orders with a price of $ 10,000 before buying her entire bitcoin. Then, Alice will need to buy a higher sales order to fulfill her order, lose money and make the price of Bitcoin rise on the exchange. 

5.Central Encrypted Goods?
Is the currency exchange safe? No centralized exchange is immune to hackers. A lot of hacking has occurred throughout the history of cryptocurrency, but in many cases, the exchange paid for the stolen money for customers. DEX is impossible to crack, but users are more likely to free themselves from money. The popular central exchange is safe, and the bank is safe. 

6. Does verification require an account to be opened on the exchange? 
The regulations in each country are still vague, but global exchanges require minimum verification to verify accounts. Many exchanges allow users to open accounts without identity checks, but these accounts will have very small withdrawal / deposit limits. 
Basic verification usually requires a picture of the user's passport / ID and enables 2-factor verification. 2FA is a secret password, and the password is regenerated every thirty seconds every time the user logs into his account. 2FA is usually saved on the user's phone. 



How to develop a Cryptocurrency Exchange?

According to statistics, there are more than 1,500 active cryptocurrencies in the market, and the huge number of cryptocurrency types provides unprecedented opportunities for cryptocurrency exchange applications. This article will introduce the core components and main functions of creating a cryptocurrency exchange software.
In fact, due to the emergence of the Ethereum platform, the speed of the launch of new cryptocurrencies has been greatly accelerated. The smart contracts of the Ethereum platform provide the ability to issue new coins simply and quickly.
Cryptocurrency exchange applications should be fast, intuitive, and powerful. To achieve these goals, the exchange application should include the following components:

  1. Trading engine
  2. Front-end user interface
  3. Cryptocurrency wallet
  4. Management console

In addition to these basic functions, every cryptocurrency exchange application should have additional features that can be developed after collecting user feedback or analyzing top global exchange applications.
Let's take a look at the key components of the application.


Trading engine

The trading engine is the core of the exchange application. It is essential for transaction execution, balance calculation, order record access, and matching of buy / sell transactions.
When developing cryptocurrency applications, priority should be given to the construction of transaction engines. Without a powerful engine, a cryptocurrency application can only be an empty shell of no value.


Front-end user interface

The user interface is the face of the exchange, and it largely determines how users view the exchange. Make sure to build a user-friendly and intuitive interface in a minimalistic way to provide a surprising trading experience and make it easier for users to execute trading orders. When building this component make sure it has the following features:

  • User registration and login
  • Deposit / withdrawal of funds
  • Orders, transactions, balance inquiry and statistics
  • Buy / sell order
  • Customer support functions


Cryptocurrency wallet

Embedded support for cryptocurrency wallets is very important for exchange applications. All crypto tokens / currency will be stored in the user's wallet. A more secure wallet solution will help develop trust between users and cryptocurrency exchanges.
The wallet can be run on the exchange server as a daemon process and integrated into the cryptocurrency exchange application using a script or API.


Management console

The management console will help exchange operators or holders manage the different operational aspects of cryptocurrency exchange. The functions of the console can be customized according to specific business needs, but in general, the management console must include the following functions:

  • Set transaction fees
  • Manage cryptocurrency list
  • Add new currency
  • Credit / debit funds to wallet
  • Resolving support issues


What are Ethereum ERC20 Tokens and how do they work?


To understand the Ethereum token concept , you must start by first understanding some fundamental concepts.
Ethereum is a decentralized platform on which smart contracts are run . So the definition above makes it clear that Ethereum is not a digital currency (Ethereum's native cryptocurrency is called ether). Put another way, Ethereum is a piece of code that could automatically transfer home ownership to the buyer and funds to the seller after reaching an agreement, without the need for a third party.
For its part, Token is generally defined as a thing that serves as a representation of something else. On the blockchain , a token often represents a financial value or a digital asset , similar to how casino chips symbolize or represent fiat money just for use on different machines and games of chance.

Keeping these concepts clear, it turns out that Ethereum tokens are simply digital assets that are built on top of the Ethereum blockchain . Developers take advantage of Ethereum's existing infrastructure to build their applications, unlike developers who choose to build an entirely new blockchain. At the same time, tokens strengthen the Ethereum ecosystem by driving demand for ether, Ethereum's native currency, needed to power the smart contracts on which tokens are issued.

Ethereum tokens can represent anything: from a physical object like gold (Digix), to a native currency used to pay transaction fees (Golem). In the future, tokens can even be used to represent financial instruments such as stocks and bonds. The properties and functions of each token are completely subject to the use established for them: they can be used as payment to access a network or for decentralized governance over an organization, among many other possibilities.

Tokens are often issued to the public through a general or open sale called the Initial Coin Offering (ICO). The creators of the ICO will issue tokens to others in exchange for ether or bitcoin and also for other cryptocurrencies. They can have a fixed supply, a constant inflation rate, or even a supply determined by sophisticated monetary policy. There have been many ICOs recently and in a short time they have completely changed the way projects are financed. There is no mandatory distribution requirement, although if you are building a decentralized application you would ideally want tokens to be owned by as many people as possible.
Token ERC20
ERC20 is a standard interface that guarantees interoperability between tokens. The ERC20 tokens are simply a subset of ethereum tokens that conform to certain parameters. To fully comply with ERC20 standards , the developer must incorporate a specific set of functions in their smart contract that, at a high level, will allow them to perform the following actions:
1. Get the total supply of tokens
2. Get the account balance
3. Transfer the token
4. Approve spending the token
ERC20 enables seamless interaction with other smart contracts and decentralized applications on the Ethereum blockchain. Tokens that with some (but not all) of the standard functions are considered partially ERC20 compliant and may still interact depending on which functions are missing.
In general, a token ERC20 is no different from any other token , but also conforms to the standard token of ethereum.
Why does Ethereum need a standard token?
Interoperability. If all the tokens created on the Ethereum network use the same standard, those tokens will be easily interchangeable and will be able to work immediately with Dapps that use the ERC20 standard.
What a "standardized" token does is that it uses a certain set of functions. If developers know in advance how a token will work, they can easily integrate it into their projects with less fear of making mistakes. If multiple tokens behave similarly, calling the same functions the same way, then a Dapp can more easily interact with different sub-currencies.
Like bitcoin and ether, ERC20 tokens can also be tracked on the blockchain, which is the public ledger of all transactions that have occurred. This is because Ethereum tokens are just a specific type of smart contract that '' lives '' on the Ethereum blockchain.
Currently there are many projects that are leveraged on the Ethereum blockchain and the ERC20 standard to issue the necessary tokens to operate their platforms. It is very likely that this market will continue to grow with new and better applications that meet this standard in order to interact with each other.
 


Blockchain in Agriculture

Blockchain in Agriculture
Did you know that the total number of deaths in the world is due to hunger? This is not at all because of the food shortage. Of course, the food shortage increases along with the increase in the population. We also waste a significant amount of food on a daily basis. Food is wasted for a number of reasons and many factors affect it. One of the reasons is that food is only spoiled because of the inefficient food supply chain.
The food supply chain is inefficient with current technology, and most of the work is still done manually. With numerous middlemen running the supply chain, food producers are struggling to get fair prices for their food. Consumers are unsure about the whereabouts of the food they buy. They are not sure if what they eat is organic. A sticker on the food product does not ensure that it is actually organic food. Those who enjoy the profit are middlemen.

Food fraud is very common and often undetectable. Consumers are very concerned about this because they affect health. And they have no way of checking the quality of the food they buy. For this reason, the scammers make a lot of money by exploiting innocent consumers.
These issues must be resolved with the highest priority because there are no compromises when it comes to health.

The solution:
Food waste can be eliminated and avoided by making the food supply chain efficient. This can be a solution in many ways. The farmer benefits by getting the fair price for his products by eliminating middlemen, hunger can be satisfied and food fraud can be eliminated.

How is it possible?
Blockchain offers transparency; 
it shows what is happening in the blocks so that everyone in the block can see where the product comes from; 
and whether it's organic by using smart IoT devices in the farm that recognize the use of pesticides and chemical fertilizers.
 By eliminating the middlemen, farmers can effectively send their agricultural products directly to the grocer or consumer, making profits.
 In the case of food fraud, no one can fool blockchain technology because of its decentralized nature. Since the blockchain network is distributed across the networks, the data in the network cannot be manipulated. In this way, integrity can be preserved and food fraud can be eliminated.
There are many other problems in agriculture and farming, blockchain has solutions to most problems. Identify it, build a blockchain in agriculture, and transform your business with agriculture and human health.


Benefits of launching an ICO.
What is ICO: Blockchains Technology and Its Benefits

Blockchain is not Bitcoin or other cryptocurrency. No. It's just cryptocurrency using blockchain. Simply put, a block is a group of transactions. A chain is a group of blocks connected to each other. Put the two words together, and there it is - blockchain.

All of these blocks are linked together in chains to form a public database. This database is public because it is shared with hundreds or even thousands of computers. We can think of this computer as a server for the blockchain / database.

Advantages of launching an ICO

There are a multitude of reasons why half of Carlos Domingo's audience at 4YFN raised their hands after his question. Reasons why, since July 2014, when Ethereum launched the first ICO in history , the total collected through this instrument amounts to more than 12,000 million US dollars. ICOs are a financing instrument with many advantages. These are some of them according to two experts, Emilie Allaert (Luxembourg House of Financial Technology) and Lindsay Lin (Stellar.org), and the blockchain company RefToken .

Quick and easy . Any company can start an ICO through various platforms like Ethereum or Stellar.

Access to an international and online market . The potential market is made up of all those who have internet access. The campaign can be promoted through social networks, specialized websites and forums.

All the decentralizing power of blockchain technology . The particularities of blockchain technology itself (a shared, decentralized, and secure network) influence the processes of an initial public offering . Furthermore, by eliminating intermediaries, the resources required to complete each transaction are much less.

Liquidity . For investors and consumers, one of the great advantages is that cryptocurrency markets tend to be very liquid. That is, usually, large amounts of capital can be acquired in a short time.

Democratization of investment . Investors do not have to be part of a select City of London club to be able to invest. Access to tokens is public and can be achieved from anywhere in the world.

Great profit potential . The data in our Spotify example was fictitious, mostly because the profit margins were too low to be an ICO. The price of the popular bitcoin was 90 euros in June 2013. Right now it is worth about 6,500, but it exceeded 16,000.

Blockchain in digital marketing
Blockchain in Digital Marketing?

 
What is the blockchain?
This technology lies in the transfer of digital data . How? In a totally secure way through an encoding that stands out for its sophistication. The similarity can be established with an account book where the inflows and outflows of capital are found. In this case, it alludes to a digital fact book.
The enormous novelty that comes with the blockchain is that the figure of the intermediary disappears . Thus, it is not necessary for a mediator to record and verify the information.
This new scenario means that the information you enter cannot be deleted, but only new records can be included. It serves to ensure, reduce and streamline processes , so that they are carried out with complete transparency and without intermediaries .
 
Blockchain features :We explain its main characteristics
 
Immutability
This quality resides in the capacity of technology not to be altered or modified . Thus, each node in the network keeps a copy of the digital record. If you want to add a transaction, each of the nodes needs to verify its validity.
 
 
 
 
Technological decentralization
In essence, a set of nodes keeps this technology decentralized . In other words, there is no authority that exercises control or that governs it.
 
Optimized security
This characteristic lies in the aforementioned absence of authority, which means that it cannot use the information to its own advantage . In addition, the use of encryption guarantees total security of the system.
 
Relationship between blockchain and Digital Marketing
Once you know what this technology consists of and what its most relevant characteristics are, we delve into how blockchain and digital marketing constitute a profitable tandem .
 
Full confidence in transactions
Have you ever experienced mistrust during your online purchases ? With this technology, trust will be established , since there is full security in transactions. Forget about fakes. What you purchase will not be a copy. Therefore, brands will gain strength.
 
 
 
Brands take responsibility
Until now, if a company wanted to do something, you had no choice but to trust their word. This situation is transformed with new technology and its smart contracts, which are agreements that are fulfilled once the parties have committed to it. Therefore, business promises are marked by responsibility .
 
The end of trolls
The user will be sure of the attack of the trolls. You know why? If we had a unique and universal key to surf the net that would replace all the ones we used previously, it would put an end to those people who pretend to be others to attack the competition.
 
Who exercises command?
At the blockchain level, it is the user who has the power over their data . In this sense, if a brand wants to send information or an announcement to a person, they would have to ask them. The consumer will put a cost on the transaction that arises when providing their data.
 
New way of understanding SEO and SEM
As mentioned, there are no longer intermediaries for transactions. What does this fact mean for SEO and SEM ? A revolution, since currently companies like Facebook , Twitter and Google act as a point of union between advertisers and digital media.
The most immediate consequence is that SEO developers will have to employ the blockchain on each of the exchanges . This will make the process faster, more efficient and cheaper.
 
How to use Blockchain to optimize a digital Marketing campaign

The essence of blockchain applied to online marketing is that, as it is a decentralized system,  people emerge as the core . How to apply this feature to your marketing campaigns ?
 
Avoid ad fraud
Ad fraud  refers to the misleading advertising that carries with false information. What he wants is a quick conversion, although it will be extended until the community finds out.
 
Analyze the customer journey
In addition, the blockchain opens the doors to registration and analysis of the customer journey . This makes it possible to detect fraud, fake profiles, bots and other practices of a fraudulent nature.
It also provides you with accurate information on where the ad was delivered. With which, you will optimize the investment avoiding losses.
 
ROI improvement
Added to them is the optimization of ROI or return on investment . How is it possible? Thanks to the suppression of overexposure to ads and other actions.
In this case, what could work is that your clients receive campaigns or offers only in the case of sharing their data. Can you imagine how it would improve the personalization of your messages?
 
Improved user experience
In this sense, we would bet on new segmentation strategies based on more specific data, which ensures you less investment for higher conversion rates.
Thus, the engagement of the target audience with your brand could improve considerably.
 
What happens to the traceability of the product?
The blockchain would provide you with greater security by ensuring that only good quality products are purchased.
In essence, the blockchain has the ability to reinvent your relationships with customers . Early entrepreneurship through this alternative will bring digital marketing a better position for companies. Not surprisingly, the client is its epicenter and it will gain transparency and security. In addition, it guarantees that you delve and establish a more profitable engagement with it.


How the Blockchain will affect investment process and real estate?
How the Blockchain will affect investment process and real Estate?
The blockchain is breaking as one of the most disruptive technologies and promising for the future of transactions and therefore also the online investment . 
Investing in housing , in other processes or acquiring real estate through this technology will be a reality thanks to this 'blockchain'. We explain how:
Cryptocurrencies, the money used in blockchain

There are several types of virtual currencies, but the best known is Bitcoin. This coin was created in 2009 under the pseudonym Satoshi Nakamoto . Soon its popularity increased along with its value.
Can I buy a house with bitcoins?

The answer is yes . In Spain, payment by bitcoins is legalized and some real estate agencies accept them as a currency, but it is still a 'cumbersome' system since, since it is not an official currency, the value has to be changed to euros. The transaction for the acquisition of part or of the entire house through bitcoins has to be carried out before a notary . This will certify the amount delivered and the documentation, which must appear in legal tender (euros) and thus avoid any suspicion of money laundering. On the other hand, since it is a fluctuating value, if at the time of the transaction the price of bitcoin rises and profits are obtained, the real estate agent must pay it.
And what will the blockchain guarantee?

To summarize in a very simple way the blockchain , it is like a large account book where each and every one of the operations appear digitally registered. Each information management and update will be reproduced equally in each of the multiple nodes (computers or hard drives) that store the information, which guarantees unprecedented fairness, veracity and transparency in all data. The operations between company and user will be carried out through a 'smart contract' or smart contract that will be encrypted and can be modified or signed by means of a digital certificate. All this will imply that the figure of notaries, lawyers or other managers involved in the sale and purchase process of, for example, a property is not necessary.
Digging deeper into smart contracts

The smart contract was born between 2013 and 2014. Initially, they were programmed to carry out a transaction between a 

  • User A who requests the services of a user B.
  • When B ends the services, 
  • A accepts that the funds be released and paid to B If you disagree, within 7 days a 'judge' will make a verdict to agree with A or B.

It was not until 2015 when the full potential that smart contracts could have was known . In that year the first transaction was made with Ethereum, another of the most popular cryptocurrencies. Ethereum made its blockchain chain available so that others could develop decentralized applications (known as dApp).
This fact was a technological milestone since it allows to develop blockchain-based applications without having to start from scratch, saving costs and technical, financial and logical barriers, and opening the panorama to be able to create new cryptocurrencies.
The applications decentralized have as an open source features a BBDD protected by a public blockchain and its own token to access the application. In the case of Bitcoin, Bitcoin (BTC) is its token and in the case of Ethereum, Ether (ETH), it is its token.
The author of the book 'The business blockchain', William Mougayar, defines the token as “a unit of value that an organization creates to govern its business model and give more power to its users to interact with its products, while facilitating distribution and distribution of profits among all its shareholders ”.
A token can represent from a DNI , to an insurance policy, a credit or a property right, for example. Therefore, dApps can issue tokens which represent what the dApp promoter and its community agree on.
Token, ICO and Smart Contract, the future of investment

The combination of these three factors will be the future of the investment. You already know the Smart Contracts and tokens, now we give you a brief brushstroke about what ICOs are:
ICOs (Initial Coin Offering) are financing prior to the creation of a cryptocurrency.
The advantages of making an ICO are multiple, both for the ICO promoter and for its investors.
Among the advantages for the promoter:

 An ICO offers a scalable financing solution , added to the 'momentum' that ICOs now have in general.
  • Being able to offer much smaller amounts of investment than through traditional channels thanks to its scalability, the number of investors that can be used is much greater.
  •  It allows linking the promoter's future market with the project, giving a representative sample of its potential.
  • Being a decentralized model, it eliminates intermediaries , having a superior scalability compared to centralized models.

Among the advantages for the investor:

  • By being able to go with very small investment amounts,  an ICO makes it  easier to diversify the investment portfolio .
  • Since tokens are listed on exchange houses, the investor will always know what their token is worth and will be able to liquidate it whenever they want.
  • While the collection is taking place, the developer will normally use a Smart Contract in the similar way as an escrow account (deposit accounts for the purchase of companies where part of the deposited price is in guarantee) to block the funds. In this way, the investor has security regarding the destination of his funds.

As you see, cryptocurrencies, blockchain, investment and real estate are closely linked with each other. Investing in an ICO for the creation or development of cryptocurrencies and acquiring real estate through them through smart contracts that guarantee security on both sides may be the future where the real estate sector is established.
Stay tuned to our blog to be informed of all our news and consult our real estate guide  to find out everything you need to know about the sector.


Understanding the Initial Coin Offering Concept: What is ICO Fundraising?
People who want to be involved in the Initial Coin Offering must do their research and work carefully.

With the increasing popularity of crowdfunding , the Initial Coin Offering (ICO) has become the latest project in raising funds and capital needed to start a business. 2017 is the year where the Initial Coin Offering became popular. This popularity may be due to the increase in crypto and blockchain in the media, or perhaps because of the convenience provided for contributors to support a project.Technology that Enables Existence of Initial Coin Offering

Initial Coin Offering benefits from blockchain technology.

Blockchain is a unique block of data that is interconnected to form a public database. This database is considered public because it connects hundreds or even thousands of computers. Try to imagine these computers as a blockchain or database server. Every change that occurs in a public database must be verified by more than 51% of the computers on the network. If there is no confirmation, then no changes will occur. Therefore it is very difficult to hack the database because a hacker must control more than 51% of computers connected at the same time. There are various companies and institutions that hold these computers. Moreover, this is referred to as decentralization because there is no single institution in control. It means, blockchain is a secure database that is not under the control of a single entity. Anyone can tamper with the database as long as 51% of the computer users approve it.

Database changes in question are a variety of transactions that occur in the network. In the case of Bitcoin, this transaction is when someone is buying and selling Bitcoin. The database will track how much Bitcoin a person has. Blockchain itself can not only track transaction data. By use, blockchain can do anything, as long as it includes the value of objects and services that are on the network.

For example, a transaction can include a car or electricity bill. Of course it is not possible to physically record this transaction. There must be something that represents the value of this transaction. One of the symbols of this value representation is Token.

Tokens and Smart Contracts

A token is created as a representation of the value of the transaction. This token cannot be entered directly in the blockchain because the blockchain only processes transactions based on certain cryptocurrency, such as Ether in Ethereum Blockchain and Bitcoin in the Bitcoin Blockchain.

Initial Coin OfferingToken transactions must be processed using the application. This application is referred to as smart contract. In 1994, Nick Szabo (a cryptographer ) had a vision. He wants to make a smart contract using computer code. This contract will be activated if there are conditions that are fulfilled. That means, there are no loopholes to commit fraud, because all processes will use computer code.

Because third parties are no longer required to make contracts, each contract (or transaction) will automatically take place in a trusted network. The computer will fully control this network. Here are the essential characteristics of smart contracts:Can process transactions automaticallyTransactions will occur if the right conditions are met.Smart Contract uses Blockchain technology, so the terms of the smart contract condition cannot be changed.

Initial Coin Offering uses the advantages of smart contracts and blockchain technology to raise project funds.

A smart contract and token will be needed when creating an Initial Coin Offering. The next step is to determine the conditions of the smart contract conditions. For example: if 0.1 ETH is sent to the smart contract, the smart contract will send 1 token to the address that sends 0.1 ETH. This condition will guarantee that everyone who participates in the Initial Coin Offering will get the right amount of tokens. There is no human control, no manual distribution. Smart contracts will be publicly available so that each sender can read the conditions of the smart contract.

Two common reasons why people participate in Initial Coin Offering:

The token can be used in the application if the final product is ready to be launched.

As the popularity of the project increases, the price of tokens or coins will increase. The more people use the service, the demand will also increase.

Mastercoin, the earliest Initial Coin OfferingImagine the Initial Coin Offering as a Kickstarter version of Blockchain. The main difference is, Initial Coin Offering automates the sales process in a safe and reliable way. It all started with the first Initial Coin Offering made by Mastercoin in July 2013.

Mastercoin made a public project in January 2012. They proposed the idea that the existing Bitcoin network could be used as a protocol layer for advanced protocols. The purpose of Mastercoin is to empower new rules of smart contracts. This allows people to create new crypto without the need to create a different blockchain network. This process is the same as that done by Ethereum at this time. Ethereum is also known as Mastercoin 2.0. Even though it was made public in January 2012, fundraising to start this project began on July 31, 2013. JR Willett was the figure who created the Initial Coin Offering for the first time.

August 15 is the historical date when the Mastercoin transaction first occurred. The network was tested by sending 1 Mastercoin. After being tested, Mastercoin was opened to the public and increasingly experienced stable funding. It's just that, the biggest investor from Mastercoin is found when they make a presentation to BitAngels. BitAngels is an investor and incubator who exclusively invests in crypto money startups. BitAngels were interested in doing a project with Mastercoin and they soon joined.When raising Mastercoin funds with a Bitcoin address, if someone sends BTC before August 31, they will get 100x Mastercoin. So, if someone sends 0.01 BTC, he will get 1 Mastercoin. At the end of the Initial Coin Offering event, Mastercoin collected around 4700 BTC, which was around 500 thousand USD at that time. In comparison, 4700 BTC was already worth 41 million USD at the time this article was written. As a record, Mastercoin was once worth 0.25BTC: 1MSC.

Initial Coin Offering

In 2015, Mastercoin changed its name to Omni and started rebranding. Their aim is to leave bad news, criticism and public anger directed at Mastercoin. As a result, many Mastercoin leaders, such as JR Willet, CTO Craig Sellars and BitAngels co-founder David Johnston moved to Omni. Unfortunately this project has lost momentum and made many people disappointed. Mastercoin or Omni is only around 0.0041 BTC: 1 Omni today. However, this example does not stop people from contributing through Initial Coin Offering.

This fundraising method has proven to be effective for starting a project. Mastercoin has managed to get 500 small investors from all over the world rather than just relying on large investors to get large funds.

The Most Successful Initial Coin Offering in History

Until 2017, companies that have managed to raise several million dollars through an Initial Coin Offering have started to become scarce. Ethereum (which is the second largest crypto money in 2018) has raised $ 18 million in 2015 thanks to their smart contract innovation. Another success occurred in 2016. DAO managed to raise 150 million dollars in just minutes. DAO experienced security problems that caused them to be hit by hacker attacks resulting in losses of more than 50 million dollars. Since the rise in popularity of Mastercoin, Ethereum, and others, the concept of Initial Coin Offering has gained a lot of momentum. Collectively, the Initial Coin Offering action successfully raised 10 billion dollars in 2017 and 2018. The crypto money market itself began to slow down at the end of 2017. December 2017 is the most active month where there are 1 billion dollars collected through the Initial Coin Offering. In March 2018, the Initial Coin Offering became popular again. There are 2.9 billion dollars collected through various Initial Coin Offering campaigns.

Initial Coin OfferingIn August 2017, Filecoin Initial Coin Offering received 257 Million Dollars through more than 2,100 investors. This number makes Filecoin the most successful Initial Coin Offering in 2017. Users can rent free space on their hard drives for use by Filecoin. As a reward, users will get Filecoin which can be exchanged for Dollars, ETH, BTC and other crypto money. The success of Filecoin and other Initial Coin Offering prove that Initial Coin Offering is a good way to start a business.

1. EOS (EOS) has collected 7,162,546.39 ETH, meaning they have earned around $ 4,201,836,214 ($ 4.2 Billion) with Ethereum exchange rates in the range of $ 586 (based on BitGuru). The Initial Coin Offering from EOS lasts for 350 days and finishes on July 1.

2. Telegram (GRAM) is known as the second most successful Initial Coin Offering with a value of 1.7 billion dollars. However, Telegram may not be included in this category because they do not use Initial Coin Offering and their crypto money has never been offered to the public. According to theverge, the way they get 1.7 billion dollars is to use 2 private Pre Initial Coin Offering. They get 81 investors who give 850 million dollars and then they sell it again to 94 investors who also give 850 million dollars. Because Telegram only does 2 Pre Initial Coin Offering, they do not need public funds so that their Initial Coin Offering is fulfilled without the need to start a campaign.

3. Dragon Coin (DRG) According to Bitrazzi, DRG has raised 320 million dollars. Dragon is a decentralized currency used for gambling. DRG functions in casinos and is used to advance the industry.

4. Huobi tokens (HT) get 300 million dollars. HT is a blockchain supported by the loyalty point system . This token will allow users to get discounts at Houbi stores and make transactions with ETH or BTC.

5. Filecoin Futures (FIL) gets 257 million dollars. Filecoin is becoming popular because their Initial Coin Offering is adjusting to the SEC's new regulations. This means that only contributors with accreditation can participate in FIL's Initial Coin Offering. If they do not comply with SEC regulations, then their crypto money will be rejected by the bank, so ETH transactions to FIAT will be impossible. Filecoin has obeyed all regulations so that this incident did not occur.

6. Tezos (XTZ) gets 232 million dollars. Tezos created an accounting book distribution that was used to make smart contracts. Tezos users can get involved and fund the renewal of the protocol system. This process allows Tezos to avoid conflicts over network development in the future.

7. Siren Labs Tokens (SRN) have earned 158 million dollars. Sirin is intended for the mass adoption of blockchain technology. They focus on developing hardware for monetization of additional devices through micro transactions. At this time, Sirin is creating a blockchain ecosystem.

8. Bancor (BNT) has earned 153 million dollars. Bancor is a protocol that allows people to launch their crypto money. They call it a smart token. The biggest advantage of using a smart token is that it doesn't need a second party if you want to make a transaction. Bancor launches smart tokens and modifies ERC-20 in their internal system.

Conclusion

People who want to be involved in the Initial Coin Offering must do their research and work carefully. The crypto world is not a world for certain people. Crypto is a large industry where investors can make or lose money in a matter of weeks. There is a lot of potential in blockchain technology for future projects. Using Initial Coin Offering is the easiest way to get funds. Of course, everything has its own risks. For your Initial Coin Offering to be successful, you must think carefully about a project. You also need an experienced and dedicated team for your campaign to be successful and get public support



How Blockchain will change the financial Sector?
Blockchain in Financial Sector:


The blockchain is being the guideline for many debates and evaluations 
about the future of the blockchain in  financial sector. What is very clear is that it is a concept with the potential to change market logic and create new business opportunities.

The blockchain can be defined as a digital system of nodes that operate in parallel and allow self-certification and information exchange. Technically it is a process of adding  cryptographically signed blocks of data to form perpetual and immutable records.   That is, it is a node system that allows online transactions without the need for an intermediary, as it controls itself. This system is based on parallel and simultaneous information processing, being extremely secure. The data of the transactions after being registered cannot be falsified or erased, and they are stored in a history that contains all the operations since their creation.

Blockchain concept emerged to support the protocol of Bitcoin , but no longer limited to the monetary sector .

The blockchain goes beyond the application to currencies, such as bitcoin, since it allows to register any type of financial transaction , which can be bonds, shares, transfer of property and any type of right or obligation.

This impacts the financial sector, generating new business opportunities. 

The great challenge for companies is to adapt to this new scenario, with agility, but with great security, which is the key point of the sector.

Some relevant numbers of what the blockchain has achieved so far:

  • $ 921 million dollars invested in bitcoin and blockchain companies
805 bitcoin and blockchain companies identified ( here you can see some of them)
  • More than 30 banks and financial institutions have publicly announced that they are researching and / or investing in blockchain technologies ( here you can see some of them)
106 thousand merchants that accept blockchain

In this image you can get an idea of   the ecosystem that is around the blockchain and its main actors:


The blockchain can and should be seen as a strategic ally and not as a competitor to financial companies.

"This technology will not make banks disappear, but will allow them to explore new niches and market areas," says Antonio García-Lozano, consulting leader at Grant Thornton, in an interview with Expansión .

According to this report, the Santander bank estimates that the use of blockchain development can mean a saving of 20,000 million dollars for the financial sector by 2022.

To finish, the study Blockchain in Capital Markets, points out that the next steps and challenges for blockchain are:

1.Developing concrete proofs of concept
2.Challenge service providers to innovate
3.Understand the current quantification of operating costs
4.Maintain the commitment of the entire industry
5.Participate in prototypes and embrace "learning by doing"
6.Bringing the business mindset for tech startups
7.Prepare the narrative of the regulatory and supervisory bodies
8.At Private Investments Network we believe that blockchain brings opportunities to explore new markets. We act as a RegTech and we are dedicated to allowing unlisted companies to adapt to new technologies such as blockchain by supporting them so that they can also stay within compliance parameters  .

How blockchain is applied in schools?
Usage of Blockchain in Education:
Blockchain technology makes it easier for students to manage their data and decide what content they want to share and with whom. In addition, if a student has to manage an economic transaction, such as in the case of wanting to enroll in another school, he / she will need to pay the corresponding fees, and thanks to the Blockchain the process can be carried out safely. 
On the other hand, another of the applications that use Blockchain technology, allow for a new system for issuing and certifying official documents and qualifications. Thanks to this, you can ensure the accuracy of the assessments and qualifications a student gets. In this case, the technology applied by the system certifies the registration in a safe way and certifies the authenticity of the entire history of each student. Therefore, it is a tool that all teachers should know and, in addition, explain to their students as they will have to deliver all written work and exams through that platform. It will be important for them since they will also have to manage their academic record from that tool. 
Benefits of Blockchain technology in education

Currently, the use of this new technology consisting of block chains is rare and is still used in very specific cases. I tell you the benefits that Blockchain technology can offer you in education :
Universal Online certification:
The immutability and guarantee of veracity granted by the blockchain could lead to the creation of a new system for issuing and certifying both official documents and academic degrees.
Environmental Respect
Thanks to the Blockchain technology applied to education, it is possible to reduce a great use of paper, since everything is digitalized it contributes to the reduction of deforestation. We avoid printing large numbers of documents that are now scanned safely each student can access to consult whenever you want. 
Academic Records
Thanks to the immutability of the application, the possibility of safeguarding all reports and student work within the platform is increased. Blockchain offers a secure model for collecting grades, letters of recommendation, certificates, among others. This technology will be essential to avoid fraud.
Goodbye Plagiarism
Blockchain technology can be applied in education makes it inaccessible to modify any document without approval. It is possible that in a short time the plagiarism will remain outside our lives forever and be part of the past and not of the present or future.
Avoid identity Theft
All students will be their own managers. They themselves must control their data and they are the ones who decide what content to publish and who to share. Blockchain technology has the capacity to manage, share and protect digital content.  
Goodbye to physical Money
With Blockchain technology, payments can be made through 'tokens', thus eliminating the need to make currency exchanges between countries and in the case of exchange of students or students who are interested in a course in another country they could pay with' tokens'. 


Blockchain in IOT
Blockchain in IoT: 

Benefits and use cases
Blockchain and the Internet of Things (IoT) emerged with maximum public attention in recent years in addition to their implementation in the networks of global financial systems and industrial leaders. This article will explain the concept of the Internet of things and give answers to some essential questions about the convergence of blockchain and IoT, its benefits and future challenges, its use cases of greater cooperation.




What is the IoT in simple words?
Iot, or the Internet of things, is a concept of connecting any possible device to the Internet by creating a network where they could save and exchange each other's data. It should be noted that objects united in an interconnected system do not require human-to-human or human-to-computer interaction to obtain, receive and send data. 
Computers and smartphones are definitely a part of IoT but it also includes a lot of things: 
cars, smart appliances, medical equipment, sensors of all kinds, printers and much more.
IoT devices can be divided into three groups:

  • Those who collect the information and send it (for example, different temperature, light, action, etc. sensors);
  • Those who receive information and act accordingly (for example, a printer receives a document and prints it, an electric kettle receives a signal and begins to heat the water, etc);
  • Those who know how to do both (for example, an irrigation system collects information about the humidity level and automatically turns on if the level is not enough).



What are the weaknesses of the IoT?
Privacy & Security
There have already been several cases of IoT devices that shared private information on the Internet or that have been hacked. Some of these cases threatened the life and health of the people. For example, in 2017 the Food and Drug Administration (FDA) banned 500,000 pacemakers connected to the Internet that had been considered weak for hacker attacks. Another example is from hackers who had found weaknesses in Jeep cars and forced emergency brakes at high speed.
Centralization
Traditional IoT systems are often based on a closed and centralized architecture and this has created many questions. The devices collect the information and send it to the cloud where it will be processed and sent back to the IoT device. This system requires that third parties check and verify each transaction between the devices which entails limited scalability, high prices and many weaknesses in the network security system.
 
Low compatibility
Interoperability in IoT remains at the low levels of coexistence of various protocols and connectivity standards. Different IoT platforms have different forms of connectivity formats and manufactures must choose only one when producing their equipment. A single IoT platform can't be compatible with many other devices. If the manufacturer produces a device compatible with a platform, it will not be so easy to connect it to a different platform. The given situation does not satisfy either manufactures or users and it would be much more comfortable to have a unique standard.
How can Blockchain help improve IoT?
Improve security
Blockchain treats device message exchanges as transactions verified by smart contracts. Transactions are recorded in blocks, this ensures that they are organized in fair sequences and assigned to the timestamp when they have been added. The cryptographic algorithms used by the blockchain ensure user data making them more private and preventing previous records from being changed.
Enter smart contracts
Blockchain is designed to act as a basic layer for applications that involve transactions and interactions and smart contracts have an important role in it. They work autonomously (and do not need intermediaries to approve or confirm a transaction) when certain conditions are met. What do they give to the IoT? More secure and autonomous operation, faster and cheaper transactions, more data security. 
Smart contracts also make the billing process easier and more convenient: complicated payment systems are not needed. The transaction is made, tokens are transferred and these processes are clear and transparent in the blockchain
Decentralize
Unlike traditional centralized architecture, a decentralized blockchain network could improve the lack of system tolerance. A single error would not deactivate the entire network because it works using millions of individual nodes. In addition, in a decentralized system the information saved and processed is not controlled by a group of powerful companies.
Decrease expenses
Blockchain greatly reduces connection costs by eliminating the need for an infrastructure. Expenditure on additional administration, maintenance or installation disappears.
What are the cases of use of Blockchain and IoT in the industry?
Jaguar Land Rover
The largest UK car manufacturing with IOTA boosted the price of MIOTA (the platform's own token) by 20% in 24 hours on Monday, April 29. Cryptocurrency can be used to drivers for sharing information about traffic jams and potholes. Rewards can be used to automatically pay tolls, parking and electric charges. The head of IOTA cooperation, Holger Köther said: "Our technology goes perfectly with machine-to-machine payments for smart charges, parking lots and tolls, as well as allowing drivers to get their own crypto funds."
Volkswagen
Volkswagen has been actively exploring IOTA and as the result presented the Proof-of-Concept (PoC) that uses the IOTA Tangle system for autonomous cars at the 2018 Cebit Expo in Germany. The new “Connected” car system will use IOTA Tangle to transfer software updates safely and wirelessly.
Fujitsu
The largest information and communication technology company in Japan used IOTA as the new protocol standard for audit trails.It will plan to use IOTA to improve transparency, data security ,trust, etc. Fujitsu's team considered the IOTA protocol as "an immutable data storage medium."
Bosch
The Bosch XDK is a device with the programmed sensor and an IoT prototype platform that can be used as the sensor node solution. The Bosch XDK can be used to collect specific real-time data that can be sold in the IOTA Data Market. Masked Authenticated Messaging (MAM) allows data to be shared P2P through a secure and encrypted channel.
 
What are the challenges for Blockchain and IoT?
Scalability
Most existing blockchains are not compatible with most of the data produced by IoT devices and this number is only increased. Research shows that the number of devices that will be connected to the IoT will reach at least 20 billion by 2020. Bitcoin and Ethereum have suffered from scalability issues and their current status does not allow them to deal with the amounts of data produced by the IoT devices. Without slowing down.
Security
Blockchain has to make IoT safer as problems arise on the other side. The security of the devices connected to the IoT is complicated and blockchain cannot guarantee that they will not be hacked. This means that any IoT device should, in a perfect world, have the highest level of security but is not cost effective.
Interoperability
All devices are connected by the Internet but the situation is complicated when we add the blockchain. Different blockchains are usually isolated from each other and if the interoperability challenge is not addressed, we will have smart devices connected to numerous decentralized and isolated networks. It could work for certain purposes but it would not become the Internet of everything where all devices are connected to each other and can interact with each other.
Final thoughts
Enthusiasts always say that blockchain improves the industry by revolutionizing many processes. Will it work with the IoT? Perhaps, since blockchain should bring great benefits to IoT but most of the challenges will have to be faced equally. Blockchains known as Blockchain or Ethereum cannot support large volumes of data from IoT devices. IOTA chose another path by creating the Tangle platform with increased scalability and this attitude has been approved by many corporations including Jaguar Land Rover, Bosch, Fujitsu and Volkswagen.


Blockchain technology will change the Gaming Markets


The biggest growth came from mobile gaming. In addition, new technologies have the potential to radically build the gaming market and offer new growth opportunities. Blockchain technology has the greatest long-term potential here.
Here are the three ways that the blockchain will change gaming in the future :

1. The blockchain will turn traditional gaming companies inside out 

The blockchains are known for bringing decentralization to massive industries. It transfers the power from the centralized organizations (e.g. banks, notaries, game manufacturers, etc.) to the consumers themselves. This is exactly what the blockchain can and will achieve in the game industry.

Companies such as Activision / Blizzard, Electronic Arts, CCP Games and Perfect World currently determine which games are played in the gaming universe. With the blockchain, however, this can turn from companies to platforms where users can decide what they want. This can have a huge impact.

For example, gamers currently have gatekeepers (centralized organizations) that dictate prices, control taxes, censor users, control content, and monetize data. However, with decentralized platforms, consumers can get in touch and act without such intermediaries. This would ultimately give players more control and flexibility in their gaming experience.

2. Blockchain offers cross-platform support 

As long as the gaming content is created on a central platform (ie owned by a single organization), there will be no cross-platform support. Facebook can easily prevent gaming content developed for Facebook's own Spaces VR Welt from running on other platforms such as Oculus.

Due to the limited ability of a consumer or developer to use multiple platforms, the game manufacturers have limited the growth of in-world communities. Decentralized platforms with a blockchain, on the other hand, would give players and developers what they really want: more control. Only then will users get the best game for their needs. This is exactly why there are users of games who modify their games themselves - that is, modding!
Chris Vollmer, a strategist in PwC's global entertainment and media business, told VentureBeat last year: "If I were a games publisher, I would work more about social communities, peer-to-peer connections, and a network for a specific object and create more connectedness".if Vollmer said, blockchain-enabled experiences should empower the creativity he thought was necessary.
 
3. It gives power back to the gamer

Gaming experiences that are controlled by a central company result in the following problems:

  1. Control of the rules - artists, developers and consumers can only offer items and services that are approved by the platform owners. This has also resulted in a black market in many digital worlds, ostensibly worth over $ 6 billion.


  2. Control of Transactions - Nowadays, users are unable to capture the full value of their actions due to transaction costs. For example, Second Life charges a 5 percent fee to users for every item exchange in the game.


  3. Access Control - Centralized platform operators can deny access to any user at any time and at their own discretion.


  4. Control over the in-world currency - For currencies within a game world, gamers are exposed to the game manufacturer's monetary policy. You have little or no insight into the future development of the in-world currency. The game manufacturer can therefore decide how the money in the Blockchain game development and how much it is ultimately worth. Supply and demand that time not determine the price here.



Public Blockchain vs Private Blockchain
Public blockchain :

  • These are blockchains without permission where anyone can join the network and read and write in the central book. 
  • These chains permit customers from any part of the sector to interact and send or read transactions as long as they are connected to the chain network. 
  • In a blockchain without permission, any user can develop blockchain and add smart contracts with non intervention forced by the way of developers.
  • These blockchains without permission provide complete decentralization, which means that there may be no central authority to edit the fame of the ledger or make modifications of any kind in the network protocols. This makes the device robust against single point failures. 
  • Blockchains of this type allow anonymity that in turn provide privacy to its users. It is assumed that a user should not disclose any personal information before sending transactions and smart contracts. Since all participants can see each transaction, it makes the system transparent.
  • Examples: Bitcoin, Ethereum, Litecoin



Private block chain :

  • The so-called allowed blockchains do not allow any user to join the network freely and read or write in the ledger. 
  • It maintains an access control mechanism between the list of users connected to the network
  • Such blockchains are widely adopted by centralized organizations are likely to securely record transactions and exchange important information with each other.
  • Such block chains can be partially decentralized or fully centralized, as users have the right to negotiate and reach a consensus with variable decentralization as they wish.
  • In these blockchains, the identity of users understood to all, however the transactions are simplest seen to those who have the appropriate permission. In addition, since no longer all users are involved within the consensus process, such blockchains have higher performance as compared to public blockchains.
  • Examples: Hyperledger, Multichain, Ripple 


Blockchain in Healthcare
As we look forward to 2020 and beyond, there are many fresh industries and innovative technologies that we will hear. Each discourse is in terms of its potential for growth, its large market, and its extraordinary opportunities. Two things we will hear when people talk about the future are the health industry and blockchain technology. 

Blockchain in healthcare

Blockchain technology will have a greater role in supporting digitization of the supply chain, as well as increasing transparency and efficiency. Health care organizations, from producers to retailers, can track products through the supply chain to ensure authenticity or signs that have the potential to damage the process on the way. These signs, such as signs of disturbance, extreme environmental conditions, or careless handling. If manufacturers identify quality problems with devices or drugs, the blockchain can help vendors speed up withdrawals in determining the location of inventory across the supply chain that needs to be kept away from circulation.
The FDA Drug Supply Chain Safety Act (DSCSA) is intended to improve regulatory oversight of counterfeit, stolen, contaminated, or dangerous drugs.
 Several pilot projects under DSCSA test how blockchain can secure information sharing across healthcare companies. 
For example, KPMG, IBM, Merck, and Walmart have been selected for a pilot program that will explore using blockchain technology to improve the safety of drug supply and distribution.
More and more companies are starting to implement blockchain technology in response to DSCSA. Genentech, a subdivision of Roche Group, Pfizer, McKesson, and AmerisourceBergen works with the MediLedger Project start-up blockchain. 
The MediLedger project is in the process of creating a platform that allows producers to track their products along with secure supply chain data, and demonstrate compliance with DSCSA.
Closer Integration with Other IT Innovations  
IT innovations such as artificial intelligence (AI), cloud hybrid solutions, and blockchain implementation will be considered as additional technologies that can accelerate the adoption of new technologies. The new Cloud-at-customer hybrid solution provides highly scalable public Cloud applications and services while safeguarding personal health data behind corporate firewalls to meet regulatory requirements. The use of AI goes beyond traditional analytics.
AI combines and then extracts insights by recognizing patterns and correlations across large amounts of data stored in hybrid clouds and managed safely on the blockchain platform. By integrating into many devices connected to the Internet of Things (IoT) and wearable devices, the blockchain has the potential to uncover demographic trends, accelerate R&D in the healthcare industry, and ultimately improve patient outcomes in the near future.
Faster Growth in Emerging Markets  ,
Developing countries are very pro-blockchain and will increase investment in 2020. More manufacturing-oriented countries, especially in Asia, will benefit from the implementation of the blockchain. The Chinese government has positioned itself to dominate the blockchain area with the most patents associated with blockchain. The Chinese State Council included the development of the blockchain in the 13th Five-Year Plan of the country. 
In 2019, Chinese president Xi Jinping said that the blockchain would play a major role in building China's power in cyberspace. In addition, the blockchain can develop the digital economy, and advance economic and social development. In addition, more countries will Build blockchain-based health care systems. Estonia has become the first country to use blockchain for health care on a national scale.
In 2018, the United Arab Emirates established plans to use blockchain technology to improve various aspects of the lives of its citizens, such as banking, transportation and health care. This initiative sets the country on track to become a fully functioning blockchain-based government by 2021. 
The health service platform provides a data sharing solution that enables health professionals, including doctors, pharmacists, technicians, and local licensed health authorities, to save and share assessment information. 
2025, the Blockchain market for health services will reach $ 1.6 billion
According to research from consulting firm Global Market Insights, the value of blockchain technology in health services is expected to exceed $ 1.6 billion. The achievement is predicted to occur in 2025. 

Blockchain is a recognized technology that helps health care facilities save a lot of money from fraud and fake drugs. Therefore, a positive impact on health care outcomes. 

Based on this research, blockchain in the healthcare market will grow due to a number of factors. These factors, such as the implementation of government initiatives and increased investment in the field.
There are several factors supporting growth in this project. These factors, namely examination of medical results, 
1.interoperability of health data, 
2.reduction in the cost component 
will further impact on the adoption of the blockchain.
Global Market Insights revealed that developing recognition approximately the software of blockchain era and government initiatives for records standardization and operational scalability constraints in information management will spur industry growth in the coming years. 

Global Market Insights said that the volume in the worldwide healthcare market would reach more than $ 1.7 billion by 2026, with a combined annual growth rate of 48.1%. This latest finding echoes the findings of Acumen Research and Consulting information technology firm in mid-July. 
In 2018, the blockchain technology market in health services in China dominates the Asia Pacific region. The market is worth more than USD2,6 million. 
China is actively promoting the application of blockchain technology in healthcare services to create smooth and efficient business operations that will help this country gain a competitive advantage compared to other countries around the world.


Blockchain in Supply chain
Blockchain in Supply chain

The blockchain is a technology that, applied in logistics, has an important impact on traceability and other aspects of the supply chain.
The blockchain is a decentralized way to share information reliably and securely thanks to its blockchain system verified by consensus. This means that each block of data is shared between several agents that validate them and guarantee their inviolability, without the need for an intermediary to concentrate the information. 
Each exchange of information or encrypted transaction is thus recorded in the copy of each agent and, therefore, cannot be modified once made.
The blockchain had its origins as the shared database behind the Bitcoin cryptocurrency, launched in 2008, but soon the utility of its application for other uses was detected.
Applied in logistics, for example, it allows to register and authenticate product bar codes throughout the develop a supply chain to track goods in real time, in this way, if there is an attempt to modify or falsify the data of the products or orders, the actors participating in the blockchain can detect it immediately.

Blockchain and logistics

Going deeper into its uses in logistics, blockchain is designed to provide solutions to the complex ecosystems of the logistics chain where there is no major participant, where collaboration among those involved is often unreliable, where information must be centralized and where the Security of this information is a matter of high priority. With the use of the blockchain in logistics, these ecosystems can be united by alliance to foster the necessary trust among all the collaborators in the chain, whether they are partners or competitors, guaranteeing protection, traceability and confidentiality in the processes.
Blockchain offers visibility from start to finish when it comes to the shipment of goods; Each event related to a given product (whether in production, processing, transportation, storage or delivery) is recorded in the form of a blockchain transaction , also monitoring the documentation and packaging associated with that product.
Using a platform enabled with this technology in logistics guarantees that:


  • It is easier and safer to coordinate the important documentation to discover and validate the load,disposing of paperwork.
  • You can enter into "smart contracts" whose validity and compliance can be verified in real time, which makes import and export procedures quick and efficient.
  • The data exchanged between the logistics actors are reliable, and this allows for timely and accurate decisions to accelerate the transit of goods through warehouses and customs posts.
  • The system offers scalability and this results in immediate solutions as the demand for fast order deliveries increases.
  • The confidence given by the veracity of the information eliminates the need for constant audits to confirm it.

 In sum, all this helps to eliminate bureaucratic processes, long waits and, therefore, the obstruction of the flow of goods.
In collaboration, the technology company and consultant IBM and the Danish transport company Maersk are using this technology to streamline information flows and financial transfers, and to reduce the time spent on bureaucratic procedures during their logistics processes.
According to a study conducted by Maersk in 2014 and cited by IBM in the announcement of its 2017 Hyperledger Fabric system , generally, the transfer of refrigerated products from Africa to Europe requires the participation of some 30 companies or officials, and It represents the generation of 200 proof of interactions. Both leading companies in their respective sectors expect to significantly reduce time and costs with the use of the blockchain .
In the Dutch port of Rotterdam, the largest in Europe, more than 15 public and private companies created a consortium two years ago to start experimenting with blockchain technology . Its purpose is to test its applications in logistics, and it has found more and more benefits by integrating it with the Internet of Things (IoT) and modern supply chain management systems.
  
Benefits of your application

The most remarkable attribute of blockchain technology  in this regard is that the information once stored cannot be changed, which creates confidence that the rules have been respected and there is a reliable way to track the entire distribution or distribution flow. a transaction This offers total transparency in logistics, which is essential for companies that outsource suppliers and for customers of consumer products.
The advantages of using blockchain in logistics processes include:

  • Time and cost savings in supply chain management by reducing paperwork.
  • Elimination of errors and eradication of fraud.
  • Optimization of storage, transport and distribution processes.
  • Reliability and integrity of the information shared.
  • Efficient collaboration between the different participating agents.
  • Transparency in the path of the goods so that the customer always knows where his order is.
  • Greater security of the load because the consensus verification of the information will allow to detect if an employee intends to carry out a fraudulent action by altering a registration code.

Each of these benefits of using the blockchain in the supply chain will result in better customer service and greater profitability for your business. 

The challenges of the future

The conjugation of blockchain in the supply chain represents agility in the processes, security and veracity of the information, transparency in the processes and trust in the collaboration. All that, in the end, will result in lower costs, logistics efficiency and greater profitability for your business.
Although its implementation has been limited so far, an acceleration in technology adoption is expected in the coming years, as well as an explosive growth of the organization that brings together the companies involved with the use of the blockchain in the supply chain, known as the Blockchain Alliance in Transportation (or BiTA).
For its members, the key to the successful implementation of technology in their sector is that universal standards are created to eliminate administrative inconsistencies and improve the visibility of goods and the transparency of processes. 
The challenges facing technology in terms of the financial investment required, the adequacy of existing and applicable regulations and resistance to change among participants are not few, but the great benefits of the application of the blockchain in logistics will end up imposing it.
 
Blockchain in Food Industry
Blockchain technology covers the need to certify the entire life chain of a product in an unquestionable way in cases where there are numerous parties involved and large volumes of data, as is the case in the food sector.

The blockchain technology  help us,
1. Transparency of operations,  
2. Contribute to food security , 
3. Reduce food waste,
4. Favor automated payments and contracts,
5. Prevent food fraud and even make food supply more sustainable. 

Blockchain in food industry is the opportunity to verify the production, storage, distribution and sale process in a safe and automated way; as well as certify the transactions made by the different parties involved (producers, distributors, etc.”


But all this is mainly translated into concrete applications that will explain in more detail:

1.Traceability,food safety and alert messages
  • The blockchain makes it possible to verify the exchanges that have occurred since the food left the agribusiness complex to the supermarket shelf (what is known as "from farm to table").
  • Date, time, place and all the data related to the same product in the different stages of its route, will be recorded unchanged by the system. It should be noted that data could be collected not only  from lots and inventory management, but also GPS data for location information, temperatures, etc.
  • Through this tool companies can quickly locate in the supply chain, products affected by a possible contamination or any other incidence (for example, a break in the cold chain), allowing a specific withdrawal only of the lots involved.
  • In addition, making these are data easily accessible can improve the ability of health authorities and consumers to take action if there is a health problem related to food.
  • In the blockchain use, a company could provide all the information necessary for the crisis management or food alert, in a matter of seconds instead of days. This would translate into less sick or injured people and more confidence in the food system.

2.Transparency and Prevention of food fraud:

  • With the blockchain all transactions between two parties are visible to all interested parties. Without a doubt, transparency is the star benefit of this technology.
  • Unlike traditional accounting books, entries to the blockchain accounting book cannot be changed once they are sent. This makes it virtually impossible to "corrupt" the data within the supply chain and, therefore, it is much more difficult to commit fraud. 
  • Companies that use blockchain technology to prove transparency in their supply chains will have a kind of "insurance policy" in case a scandal shakes the industry.
 
What about the mistakes?
Given the immutable nature of the data in the blockchain, people may wonder what happens if an error is made. How are the erroneous data corrected? Simple: just add the correct data and blockchain technology will allow you to see what has changed but without hiding the error.
It's like writing with a pen instead of a pencil. If we used a pencil we could erase or change data without anyone knowing. However, with the pen we can cross out the error and write next to it, but error and rectification are visible.
In a blockchain, nothing ever changes; IT UPDATES. This is why blockchain registrations are completely reliable. Errors, whether accidental or intentional, are visible and attributable.
Truthful and complete information available to consumers
So far we have focused on applications and benefits from an industry perspective, but consumers can also be favored by the use of the blockchain.
For consumers, blockchain technology can mark a before and after. This way we could verify it a few days ago when the Carrefour supermarket chain launched a product (chicken) with a scannable code label that allowed the user to have all the product information from its origin.
For consumers, the blockchain offers the necessary transparency to ensure that the food they eat is exactly what the label says they are.
Can you imagine being able to track and check with 100% certainty all the history of each food you buy in the supermarket? Well, now you can stop imagining and see for yourself because blockchain technology has made this a reality.
Simply by reading with a smartphone the QR code of the labeling of a meat, for example, data such as the date of birth of the animal, the use of antibiotics, vaccines, the mode of breeding, the location of the farm, etc., They can be easily transmitted to the consumer. A breakthrough that will undoubtedly favor the consumer confidence.
But are they all benefits?
Blockchain technology may soon become an affordable solution for both small and medium businesses and large organizations. However, it is not exempt from limitations such as those detailed below:
1.  Since all the information would be available and accessible, a series of contracts between the companies participating in the chain would be necessary  , to guarantee a certain level of confidentiality . The way to balance confidentiality with transparency would have to be resolved.
2.  The food industry is full of secrets (think, for example, in all the stories that circulate around the secret "formula" of Coca-Cola). Blockchain technology could be problematic for many food companies that seek to preserve their competitive advantage by not advertising any type of information, such as the percentages of ingredients in their products, raw material suppliers, etc.
3. However, the most important challenge for blockchain technology remains participation. All parties must adopt the technology to make it work , or what is the same, every one of the actors in the supply chain, from the farmers to the owners of restaurants or retail stores, would have to buy it.
 




What is Ethereum Blockchain?
Ethereum Blockchain

  • Blockchain is open-source, public, and blockchain-based distributed platform and operating system featuring a smart contract functionality, Ethereum allows distributed applications to be built and executed without any downtime, fraud, control, or interference from a third-party entity.
  • Ethereum is a Turing-complete programming language going for walks on a Blockchain that helps developers publish Develop Ethereum blockchain applications. 
  • One of the principle tasks around Ethereum is Microsoft’s partnership with ConsenSys which gives Ethereum Blockchain as a Service (EBaaS) on Microsoft Azure to business organization clients and builders with a unmarried click on cloud-based blockchain developer environment.
  • Ethereum Blockchain Size depends solely on implementation. 




How does Ethereum work?
  • Ethereum operates with a protocol similar to Bitcoin and its blockchain design. However, it is programmed so that the applications are compatible, as long as they are not money systems. 

The similarity between both block chains is presented in the transaction history, since each one is responsible for storing them. Ethereum, in turn, requires that each node within the network download the current state, all the code and where each of the smart contracts that are within it is stored, along with the balance of each user.

  • Millions of daily transactions occur within the network, which are grouped to give rise to the blocks. Each of these is chained to its previous blocks and to make the transaction effective and it goes to the general ledger, it must be validated through mining. 

Mining is a process by which groups of nodes or miners solve mathematical puzzles to obtain the new currencies that have come into circulation. Whoever has a powerful computer and manages to solve it in the shortest possible time will validate the block. This process has become a competition among miners worldwide, since for each validated block, new ETH tokens will be granted to the miner. This is how the miners, in addition to being responsible for producing ETH, are also responsible for confirming and verifying the transactions of each of the users within the network. 



 
Utilities of Ethereum Blockchain

  • Any provider that's centralized initially can be decentralized using Ethereum. From services like loans to their intermediary counterparts, Ethereum can revolutionize lots of strategies that exist across one of a kind industries and verticals. Now think, if they all get decentralized, how steady and efficient would every component of human life become.
  • Ethereum also can be used to construct decentralized autonomous agencies (DAOs). Fully autonomous, and decentralized businesses with no unmarried leader, DAOs are operated via programming codes, on a collection of clever contracts written on the Ethereum blockchain. A DAO is owned by all of us who purchase tokens. However, instead of every token equating to equity stocks and ownership, they act as contributions that give human beings vote casting rights for a consensus.
  • Ethereum has recently created a new fashionable. Termed as the ERC-721 token, this well known is used for tracking particular virtual assets. A major use case for these tokens is virtual collectibles.
  • The infrastructure of those tokens allows humans to prove ownership of scarce virtual goods.
  • Ethereum token is also know as ERC20 token. Develop your ERC20 token now with few steps


What is Dapps
What is Dapps?
dapps operate autonomously without a central control entity with all the changes decided by the proposals and the consensus of their users.
Why developers can interest on Dapps:
without a central authority, they are architecturally superior to centralized applications.

Typical definitions include the following attributes:


The code is open source and managed autonomously.

  • Logs and data are stored by blockchain, which provides reliable interaction and avoids any single point of failure.
  • Use cryptographic tokens to reward users who provide computing power.
  • Tokens generated through a cryptographic algorithm.

The advantages of Dapps

fault tolerance. If an application becomes too popular or is the victim of a denial of service attack, the application developer cannot do anything except cry.

On the other hand, Dapps have their resources and functionality distributed among the peers in the blockchain.

What makes it extremely expensive to attack with traditional denial of service attacks, since they do not depend on a single server.

The other important advantages that dapps have over their centralized counterparts are that they reformulate the dynamics.

Platforms such as Facebook, Twitter and Instagram depend on the content that their users produce and consume.

With regular applications, the centralized entity is the maximum beneficiary of the effort contributed by its users.

With Dapps, its decentralized governance models ensure that power is redistributed so that application users and their software creators can benefit in a more egalitarian manner.

dApps in Action
The Bitcoin and Ethereum are considered dApps Ethereum and currently is the main platform to create dApps. With Solidity, Ethereum allows developers to form smart contracts using the tools of the Truffle Framework, and they can also test their smart contracts and deploy them on the blockchain.
Examples of decentralized apps based on Ethereum that have reached millions of dollars in market value are Golem (computing power), Augur (forecasting market) and Melonport (digital asset management). These projects aim to reconfigure the economy using blockchain technology and bring us closer to a decentralized world.

Dapps, the future for the delivery of information without manipulation

Although the technological advantages of Dapps can be very clear, when it comes to really unlocking the potential of dapps, since being a decentralized part the manipulation of the data is quite difficult.

A clear example that we can give is the role social networks play in political events, a clear example was in Egypt some years ago.

Another example is the scandals that were announced in elections in some countries, where social networks have been used to favor certain candidates.

Given this, Dapps can completely change the landscape, but one element is still missing: real-time data.

Most developers, of course, are completely familiar with the advantages of real-time information.

But the integration of quality real-time data sources for decentralized applications brings serious challenges.

Currently, Dapps that handle only crypto transactions within the scope of the blockchain do not need to think about these problems.






What is IEO(Initial Exchange Offering)
What is IEO?
IEO is the abbreviation for the English expression Initial Exchange Offering (a close translation is the initial exchange offer), which means launching a startup on the exchange platform. This is one way to avoid investing in fraudulent and futile projects. There is no guarantee that tokens will be profitable, but IEO exchanges control more reliably than ICOs .
Important : In order to determine the prospects of investments, a deep qualitative analysis is necessary, for which exchange players often simply do not have enough time.
In these conditions, there is a need for an intermediary who will undertake the verification of startups and clarify the risks. Cryptocurrency exchanges naturally, as originally included in the process, took over these functions. They have the ability to conduct audits, assess prospects and provide expert analysis of projects.
Thus, IEO is a tool for temporarily transferring start-up token management to the exchange where the trade starts. The intermediary collects funds on behalf of the token issuer . When the process is completed, the coins are listed on the exchange platform.
What advantages does an IEO Initial Exchange Offering have?
The success of a project will always depend on many factors: team, idea, growth capacity ... but what is clear is that when planning a first round of financing this 2018 the idea of ​​an ICO is something that seems far-fetched due to the lack of regulation in this regard.
The IEOs are still ICOs that are somehow protected by an exchange. This allows you to get several things that an ICO would not get. Let's see the differences between a conventional ICO and an IEO so that it is better understood:


  • Public to which the IEO is destined
     : If in an ICO any person who had the possibility to buy the ICO tokens could participate in the offer, the IEOs are intended only for the clients of a specific exchange. For example, if an IEO is supervised by Binance, only the clients of this exchange can obtain the tokens of that IEO . Nowhere else or exchange will it be possible to acquire them. Now, this system guarantees us that an intermediary (it seems incredible that in a world of decentralization in the end we have to end an intermediation) will have the funds deposited and that the entity that has launched the offer will not leave with the Money from the first investors.
  • Destination of the funds : As we have said before, the destination of the investment is not a smart contract of which we do not know the actual operation but an account in an exchange, which should be trusted.
  • Responsibility of the funds : In this sense the financing manager is the exchange itself, which gives it absolute control over it and credibility.
  • Evaluation of the project : Knowing if a project has a chance of becoming something real (no longer successful) is a complex task for someone who knows little about the sector in which the project wants to develop. In a blockchain technology project , in addition to the market conditions, many technical aspects are involved, so that the decision to invest always becomes an adventure for many. In the Initial Exchange Offerings it is the exchange itself that somehow gives its seal of quality to the projects it presents.
  • Identification of the investor : Although large amounts of data are not requested and there is no initial screening of investors according to their investment capacity or previous experience in investments, the IEOs for the sole fact of having to be registered in an exchange to be able to participate already oblige lose anonymity In ICOs, this was not the case since only the wallet address from which the funds came from was known to investors.
  • Dissemination of the project : One of the advantages of this type of launching through the exchange is that part of the initial marketing is already done by the exchange itself through its channels and to its customers. In the case of ICO's, the project had to start from the utmost ignorance and had to reach potential investors by their own means. Now the Initial Exchange Offerings allow to alleviate the workload of the project in this sense since the diffusion of the exchange allows the idea of ​​the project and its offer to reach the market in a much faster way.
  • Liquidity : In this sense, once the project is launched, the liquide is usually much higher, since from the first day the project tokens can be traded in an exchange of a certain volume. Normally the exchanges that are considering this type of solutions already have a medium or medium high volume. This allows the liquidity of the token to be almost immediate.
  • Transparency : in the same way the project and its evolution are maintained with a transparency that they did not have before. The fact that the exchange is played the image in each launch makes this type of project from a transparency perspective never seen before.
  • Security and protection: Obviously this is perhaps one of the most important points. An example is in the recent canceled Raiden IEO by the Bittrex exchange. The exchange detected a possible anomaly related to an agreement that Raiden had with a partner and canceled the exit to exchange to protect its users. This allows that in cases like this one in which the project has some gap, users can recover their funds without any problem.


IEO Disadvantages

  • Despite its appeal, IEO has several drawbacks. Startups must go through a complicated project submission procedure. In each exchange the project requirements may vary. You must also understand that nothing happens for free. The market, at a minimum, transfers marketing costs to developers, who often exceed thousands of dollars and, at most, can request a percentage of all funds raised.
  • IEO projects go through a complex verification process. For this trading platform, it must remain in the staff of highly qualified specialists and analysts, which is associated with high salary costs.
  • Investors may also face some difficulties. In particular, the site will definitely have to go through the KYC procedure ("Know your customer"), according to the rules of which exchanges request a documentary identification. The predominant number of exchanges is centralized, so that, during the period of participation in the auction, the investor entrusts his money to the administration of the exchange, which is often associated with risks.
  • The main drawback is the flip side of the included listing - high fees, especially for new projects. Inclusion of a token in the list of currencies traded on the exchange can cost up to 20 MTC . Moreover, there is a commission from the funds received from investors up to 10%.
  • Risks for the cryptocurrency exchange itself, if analyst forecasts are wrong. In this case, not only financial losses are likely, but also damage to the reputation of the exchange.
  • Decreased anonymity for investors. When working under the KYC scheme , registration and verification of an account is required .

 



What is ICO?
An ICO ( initial coin offering in English, which we can translate by initial coin offer), is the procedure through which the creation of a new cryptocurrency is financed. It is a process not regulated by official regulatory bodies. Normally, in the process a percentage of the new cryptocurrency is sold to investors in exchange for money or other cryptocurrencies (mainly Bitcoin).
When a startup wants to launch a new cryptocurrency and raise funds through an ICO, it writes a plan in a document called whitepaper . This document reflects what the new cryptocurrency project is about, how much money the project needs to be carried out, how many units of the new cryptocurrencies the creators of the project will receive for themselves, what payment methods are accepted to finance the project. new cryptocurrency, and how long the initial ICO campaign will last.
The new cryptocurrencies that are distributed among project investors are also known as tokens . These currencies or tokens fulfill a function similar to the actions distributed in an OPS (public subscription offer) in the creation and IPO of a new company. If not enough funds are raised to finance the new cryptocurrency project, the ICO is considered to have failed and the money is returned to investors.
Investors in an ICO hope that the new cryptocurrency project will be successful and that they will be able to sell their currencies in the future for a value greater than what they acquired .
How to use ICOs:

  • Without doubt, the main objective for which the creator of the token decided to make the first ICO was to raise money . A clear example is Ethereum, which managed to raise $ 18 million.
  • But on the other hand, we find those who participate economically in ICOs. These, what they pretend is to profit, since of normal, the cryptocurrencies rise fast of price. In addition, the initial participants of a project are more likely to obtain benefits.

 
 
 
ICO Advantages:

  • One of the main advantages of ICOs is that financing is not achieved by traditional methods such as banks or investors in venture capital, therefore, conditions will always be better .
  • As for individual investors , they have the opportunity to finance very innovative companies directly . This is positive, since traditional financing methods are usually only available when it comes to a large amount of capital, and not for smaller amounts. This is due to the risks and legal issues that come into play.

Fund a Blockchain based project:
It is important to keep in mind that an ICO not only serves to finance the creation of new cryptocurrencies, but also, to finance projects based on the Blockchain or the blockchain .  
The Blockchain is a system that allows you to have all the information encrypted in a secure way and only shared between the parties linked to the transaction that is going to be carried out, in order to register the economic transactions that have been made with the cryptocurrency.
In the beginning, the blockchain was only used for the creation of virtual currencies, however, it can currently be used for multiple tasks, such as cloud computing , managing copyright , as well as storing and modifying data in a safe and verifiable way.
However, whenever you want to use Blockchain technology for special use, there must be an associated currency for it to be carried out. Normally, these currencies are called token , to avoid confusing said project with the creation of a new cryptocurrency. Therefore, an ICO can be created to finance the project and changing these pre-mined tokens for money. These tokens can also be used within the same project to make payments for specific services.
Therefore, we already see that ICOs will both help us to finance the creation of new cryptocurrencies as projects created from the Blockchain or blockchain system.
 
 
 
ICO Security:
As it is an innovative system with little experience, we can still talk about some risks when deciding to participate in an ICO, such as the fact that the project does not go well and the coins that are delivered in exchange for money that has no value.
Another risk is that the security of the cryptocurrency is not correct and someone can hack the system and steal the money. An example of cases like this was that of DAO, in which they managed to steal more than 150 million dollars from investors.
It is also important to keep in mind that these types of operations are not legally regulated, but are outside the conventional financial system. This is a problem that is struggling to solve, since they are beyond the reach of governments and this means they have no control of money or taxes. Not long ago, Korea was considering the possibility of banning cryptocurrencies. This lack of regulation has opened numerous debates about whether ICOs and cryptocurrencies are an illegal system, but for now, it is still in operation and there are many who decide to invest through this method.
Learn about more cryptocurrency refer this site below:
 
 


What is Merkle tree?
What is Merkle tree?

Newbies to cryptocurrency who stumble upon the phrase “Merkle Tree” for the primary time might marvel how trees all at once exist inside the world of cryptocurrency and blockchain. But yes, there is certainly a tree named as such within the global of computing and complex mathematical processes.

Put simply, a Merkle Tree, also known as a binary tree, is a technique of structuring statistics that allows brief and efficient verification of big chunks of facts.

This method changed into a developed  by means of Ralph Merkle, a laptop scientist who's also one of the inventors of public key cryptography. 
According to his definition, the Merkle Tree “comprises a technique of imparting a virtual signature for functions of authentication of a message, which utilizes an authentication tree function of a one-manner feature of a mystery number.”

In different words, it's far  an academic that permits computers to affirm data a lot faster than ever before.

Brief introduction of Merkle Tree

To understand a Merkle Tree, the first word that every blockchain technology  transaction has its specific transaction ID, which is often a 64-character code that uses as much as 256 bits of memory.

Since blockchains consist of thousands and lots of blocks, and every block contains thousands of transactions, it isn't unexpected that memory area is the largest assignment for blockchains.

For this reason, it’s important to apply as little data as possible for the duration of the records processing and verification processes. Not handiest does this shorten the processing time, but it also gives the best degree of security.

What a Merkle Tree does is to system lots of transaction IDs into a single, 64-bit code. That code serves as evidence that a transaction has taken place, and due to the fact the code is short, the pc can technique it an awful lot faster and more successfully. That code is referred to as the Merkle Root.


How will it Work?
The first-level blocks (T0–T7) are normal transactions. These undergo a hash function, which offers them a hash cost, H0–H7. These second-stage blocks, referred to as leaves, incorporate the hashed price of the report associated with that leaf.a

After that, pairs of hash values are blended and rehashed, so the individual values emerge as H01, H23, H45, and H67. The manner is repeated, with the mixed hash valued blended and rehashed again. They then receive new hash values, H0123 and H4567. These blended hashes (levels three and 4) are the branches or nodes of the Merkle tree.

The very last hash will combine all of the values to create an unmarried value, H01234567. That price is the Merkle Root, and it consists of a precis of all the transaction records.

Benefits of Merkle tree

From the determine above we will see the different blessings of the Merkle Tree:

  •  It serves as evidence of the integrity and validity of the data.
  •  It does now not want an awful lot disk space and proofs, due to its streamlined computation manner.
  •  Its proof and control require the simplest a small quantity of facts to be dispatched throughout a community.

All these blessings are feasible thanks to the verification procedure implemented in the Merkle Tree. This system consists of consistency verification and facts verification.

Consistency verification of Merkle tree

Also known as consistency verification, this technique we could you affirm that any two versions of a log are regular, and suggests that the report has now not been tampered with.

The consistency proof works on the subsequent processes:
  •  The new version consists of all the information within the old version
  •  Everything is within the same order
  •  All new statistics are positioned after the older version.



A log is deemed regular if you could prove that:
  •  The certificates are not backdated before positioned into the log.
  •  The certificate has no longer been modified in the log.
  •  The log has by no means been forked or branched.

Audit Proof

Also known as records verification, this procedure lets in you to validate whether or not a particular facts item has been included within the log. Like the consistency proof, the log serves as the proof of the report. Audit proofs are typically accomplished so auditors can affirm certificates of shipping layer security (TLS) clients. If an audit proof yields a root hash that doesn’t match the Merkle tree hash, it can handiest mean one thing – the certificates no longer exist in the log.

The Data can be Synchronized

A Merkle Tree is useful for the statistics synchronization of a distributed facts keep due to the fact it permits all nodes in a distributed system to efficiently and quickly determine which information have changed – without sending all the records to make a comparison. Instead, if the auditor can confirm that a selected leaf has been changed, only the report in that specific leaf needs to be dispatched over the community.

Applications:
Industries that Use the Merkle Tree
Merkle Trees and their variations are used by means of a number of the most famous cryptocurrencies, such as Bitcoin and Ethereum, as well as different systems:

Health Care Industry

DeepMind Health, Google’s AI-powered health technology division, is planning to apply a new generation based on bitcoin. Called Verifiable Data Audit, the mission aims to make a virtual ledger where all of the data of doctor–affected person interactions could be automatically saved and cryptographically verified. Hospitals, doctors, and patients could be capable of track what goes on with personal information in real-time; thus, they may be capable of revealing any modifications to and get entry to the facts.

Global Supply Chain

Large generation and transport corporations like IBM and Maersk are teaming up to utilize blockchain technology to digitize all forms of transport transactions inside the community of freight forwarders, shippers, customs authorities, and ocean carriers that make up the delivery chain.

Further more information to read about that article I wish to refer this site below,


What is Hyperledger?
 
What is Hyperledger?
Hyperledger is a blockchain platform based on open source. It can be used to create blockchain-based distributed ledgers that - unlike Bitcoin blockchain - meet the high requirements of corporations. For example, Hyperledger allows its own blockchain frameworks. This makes it much easier to create your own blockchain applications.
The Hyperledger project was founded in December 2015 by the Linux Foundation . The start-up Digital Asset Holdings (DAH) coined the name and made it available to the Linux Foundation. Anyone can participate in the Hyperledger community, at the moment more than 100 well-known companies are part of the open source project, such as IBM, Microsoft, Airbus or Daimler. A steering committee (TSC) with stakeholders from Accenture, CME Group, DAH, Deutsche Börse Group, IBM, Fujitsu, Hitachi, Intel JP Morgan, R3 and DTCC coordinates the project. 
How Hyperledger Works?
However, in a Hyperledger-based network, it's a completely different story! Peers directly affiliated with the agreement are connected, and only their accounting books are updated on the agreement. The third parties that help carry out the transaction only get to know the exact amount of information they need with the help of the permit and the regulations imposed on the network.Hyperledger is a blockchain platform based on open source. It can be used to create blockchain-based distributed ledgers that - unlike Bitcoin blockchain - meet the high requirements of corporations. For example, Hyperledger allows its own blockchain frameworks. This makes it much easier to create your own blockchain applications.
The Hyperledger project was founded in December 2015 by the Linux Foundation . The start-up Digital Asset Holdings (DAH) coined the name and made it available to the Linux Foundation. Anyone can participate in the Hyperledger community, at the moment more than 100 well-known companies are part of the open source project, such as IBM, Microsoft, Airbus or Daimler. A steering committee (TSC) with stakeholders from Accenture, CME Group, DAH, Deutsche Börse Group, IBM, Fujitsu, Hitachi, Intel JP Morgan, R3 and DTCC coordinates the project. 
Suppose person A and person B  were implementing their distinctive transaction on a Hyperledger-based network.  She'd search for person B  via an application which, in reaction, would consult with a membership support.  After registration has been confirmed, both pairs are linked and results are created.  Within this bipartite arrangement, the two outcomes need to be exactly the exact same to be confirmed.  However, in different trades with different parties, additional rules can apply.  These generated transactions have been sent to some consensus cloud to place an order, and they dedicate to their various accounting novels.
The Hyperledger whole series of projects are currently in the incubation phase:
1. Blockchain Explorer :
Hyperledger Blockchain Explorer is a user-friendly web application that enables you to search the ledger. Blocks, transactions and other information stored in the ledger can be viewed.

  • Submitted by Christopher Ferris (IBM), Dan Middleton (Intel) and Pardha Vishnumolakala (DTCC)
  • Approval from TSC on August 11, 2016


2. Fabric: 
Fabric is a blockchain frame which may be used to make various blockchain programs and solutions.Fabrics modular architecture makes it easy to add different components (consensus mechanism, access authorization, etc.)

  • submitted by Tamas Blummer (DAH) and Christopher Ferris (IBM)
  • Received approval from TSC on March 31, 2016


Features :

  • Permissioned Network
  • Core in go
  • Chaincode in Go or Java


 
3. Fabric API
The Fabric API includes a modular layout (code and runtime level) that enables integration with legacy systems.

  • submitted by a mixed finance team.


4. Fabric chaintool
The chaintool supports developers in various phases in their work with fabric compilation, testing, packaging and deployment.

  • Submitted by Gregory Haskins (LSEG), Eric Bauer (LSEG) and Muralidharan Srinivasan (IBM)
  • Received approval from TSC on June 16, 2016


Features : 

  • integrated into fabric
  • written in Clojure


5. Fabric SDK
Fabric SDK is a development library / runtime environment for Java and Go among others.

  • Submitted by Baohua Yang (IBM Research), Chang Chen (IBM Research), Kai Chen (IBM CIC China), Zhenlong Zhao (VLIS Lab ZJU) and Chuanjian Wnag (Nicescale)
  • Received approval from TSC on September 8th, 2016


Features :

  • Integrated in fabric
  • Written in Python


6. Sawtooth Lake
Sawtooth Lake was developed by Intel and designed for scaling. Offers itself in the finance and IoT area.

  • Submitted by Mic Bowmann (Intel) and Richard Gendal Brown (R3)
  • Received approval from TSC on April 14, 2016


Characteristics: 

  • Permissioned and Permissionless Network
  • - Written in Python
  • - Proof of Elapsed Time (PoET) consensus


7. Iroha
Iroha is based on the fabric architecture and is aimed at mobile application developers.

  • Submitted by Makoto Takemiya (Soramitsu), Toshiya Cho (Hitachi), Takahiro Inaba (NTT Data) and Mark Smargon (Colu)
  • Received approval from TSC on October 13, 2016


Features : 

  • Permissioned Network
  • In C ++, Java chaincode
  • BFT Consensus (Sumeragi)


8. Corda
Corda is a private distributed ledger, but not a blockchain. Developed by the R3 banking consortium.
Features : 

  • Permissioned Network
  • Don't use blockchain


9. Cello
Cello helps with a blockchain as a service solution.

  • Submitted by Baohua Yang (IBM Research), Haitao Yue (IBM Research), Makoto Takemiya (Soramitsu), Zhipeng Huang (Huawei) and Ryan Beck-Buysse (Intel)
  • Received approval from TSC on January 5th, 2017


Features : 

  • Automated blockchain management
  • Supports Fabric, Sawtooth Lake and Iroha

Do you want learn more about hyperledger: https://www.blockchainx.tech/hyperledger-blockchain-development
 


Types of Blockchain

Public Blockchain:
 
The best known examples of public Blockchains are Bitcoin and Ethereum. A public blockchain is accessible to any user in the world. All that is needed is a computer and an Internet connection. The public Bitcoin Blockchain consists of the Bitcoin protocol (with a capital B), the bitcoin account unit or token (with a lowercase b) and the blockchain (the database in which transactions are recorded). Bitcoin was the inventor of the Blockchain concept, taking inspiration from other solutions and combining them in such a way that a decentralized system that solved the problem of Double Expenditure could be created. The problem of Double Expenditure, which had been investigated by scientists around the world for more than 30 years, said that in a decentralized system it was impossible to prevent an asset or digital being spent two or more times.In a centralized system avoiding the problem of Double Expenditure is very simple, but in a decentralized system in which all computers have a copy of all transactions (the blockchain) the question of how all nodes agree to define which It is the reality of that database in a decentralized way to reach a consensus and function is a highly complex problem that nobody managed to solve until Bitcoin appeared. Bitcoin solves this problem with mathematics, cryptography and the Bitcoin community (users, miners, exchange houses and developers of the Bitcoin ecosystem).
 
 
 
Private blockchain:

private Blockchain, unlike a public Blockchain , is not open to the public, but can only be accessed by invitation. Private Blockchains are newer than public Blockchains and can be very different from each other and in some cases it is even questionable that you can talk about Blockchain for some of the solutions that are known in the market. Some of the most famous are Hyperledger (from the Linux Foundation), R3 (a consortium of international banks to develop private blockchain banking solutions) or Ripple (a protocol to facilitate international money transfers).
Hybrid Blockchain:
The Blockchain hybrid is a combination of public and private. In a hybrid Blockchain the participating nodes are invited, but all transactions are public. That means that the nodes participate in the maintenance and security of this blockchain, but that all transactions are visible to users worldwide and that they do not have to know the content of the blockchain, unlike the private blockchains in which Transactions are private too. 

Consortium and Federated blockchain:

A federated blockchain in other terms called as consortium blockchain comes with mixed properties from public and private blockchain networks. One can classify the consortium blockchain or the federated blockchain as partially public and partially private. Under the consortium network, the power of authority comes semi- decentralized not residing to a single authority. Often, a federated blockchain is operative under a group and they are responsible to shed restrictions on users’ reading, writing and auditing rights. Under consortium blockchain only trusted nodes are acquainted with the responsibility of executing consensus protocol.

Unlike public blockchain networks, consortium networks don't invite anybody with the internet connection to participate in the network. It again demands permission from network admins. Federated blockchain is mainly applied in the banking sector for its fast speed, supreme scalability, and better transaction privacies. R3, EWF are examples of federated blockchains. 

Get more information about Blockchain:



How blockchain Work?
What is blockchain?

  • A blockchain (meaning "blockchain") is a special type of database, such as a digital accounting book although this simple explanation does not describe the genius behind how this technology records values ​​and transactions.
  • Until recently, people had to rely on third parties (such as banks, governments and companies) to store their valuable assets, and their transaction information.
  • For example, when you make a purchase with your credit card, you trust that the credit card company and your bank will keep your personal information and your transaction details safe.
  • This trust towards institutions does not only apply to financial transactions: A car rental service also maintains a central database with your personal details, your address, the vehicles you have rented, and when you need to return them.
  • You trust that they will keep all this information private and secure. The information was always kept centralized in these establishments, and each of them had to maintain their own records and systems. But not anymore!


How Blockchain Works?

The blockchain is able to record all the transactions of the participants in the blockchain network. He stores and shares them publicly. 

  • When people who want to make an online transaction are asked, what matters most to them in that movement, most stress security and transparency. And this is the main attraction that Blockchain has: the security and trust it generates.
  • The blockchain consists of strong cryptography. It is an extremely intelligent software that protects documents and data ensuring that they cannot be hacked. This technology means being able to make a transfer abroad in a matter of seconds and without any associated commission. In this way, banks and stock markets are the most affected by this new transaction system. The elimination of intermediaries means that banks have to put the batteries. For example, in our country, specifically in Galicia, they already have their first bitcoin cashier . But Blockchain doesn't just affect the banking landscape. It could change the way it works, is regulated and operated on the Internet. Other alternatives have recently emerged. These New protocols built on the basis of such technology give rise to services and products that provide an amount of information stored in a database that cannot be altered, nor is it owned by a single entity. 
  • Blockchain technology with these characteristics could be the future of electronic voting, for example. Since, due to the nature of its operation, it could guarantee a system in which identities and voting would be protected at a very low cost and would be in falsifiable.
  • An example will serve to understand its operation and the steps that occur to perform these transactions. But there is the premise that blockchain must have several users so that they will validate the transactions and will be recorded in that book to which the authors refer.

1. Someone wants to send money, ship a product, or sign a contract.
2. A notification of the action is sent to all users who are within the network (which could be global).
3. If the transaction is valid, everyone approves it.
4. After approval, the record is updated (that is, a block is added to blockchain ).

5. The action occurs, and, if it is a payment, the money changes hands.
6. An unmodifiable record closes the transaction.

Do you want to learn more information about blockchain:


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Jon Westenberg follows

  • John Marshal
    @john
    Writer, founder, passionate entrepreneur + I'm on a mission to build businesses
  • John Marshal
    @john
    Writer, founder, passionate entrepreneur + I'm on a mission to build businesses
  • John Marshal
    @john
    Writer, founder, passionate entrepreneur + I'm on a mission to build businesses
  • John Marshal
    @john
    Writer, founder, passionate entrepreneur + I'm on a mission to build businesses
  • John Marshal
    @john
    Writer, founder, passionate entrepreneur + I'm on a mission to build businesses
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