Blockchain technology has been known to exist for almost two decades now. However, it became popular after the news on Bitcoin became widespread globally. Blockchain is defined as a revolutionary innovation that applies distributed ledger systems. It is a redistributed network topology with an improved security level. In Blockchain systems, details are recorded in a…
one difference is the approaches that the various platforms are using to achieve consensus. Some use proof of work (PoW), others use variants of byzantine fault-tolerant strategies (PBFT, SBFT, etc). Some use PAXOS derivative strategies. Hyperledger Sawtooth Lake has developed an innovative strategy named Proof of Elapsed Time (PoET). Some, such as Hyperledger Fabric allow pluggable consensus…
Over 4 billion users use the internet, which includes mobile internet. Hackers and criminal enterprises are engaging in fraudulent activities online, which include fake information and infringement of privacy and data security of internet users. The distributed database and immutability characteristics of blockchain technology can help deal with these risks and threats in next-gen internet…
In the previous decade, cryptocurrencies gain massive attention from the public with the upswing of Bitcoin and Ethereum. The emergence and upswing of cryptocurrencies increase the awareness of the blockchain and its technology as cryptocurrencies are just one of the applications of blockchain technology. The paper reviews and discusses the journal article published in IEEE…
Blockchain or “distributed ledgers” technology is a critical area that arouses a lot of interest in the contemporary world. It is a form of data infrastructure that arose from the digital currency Bitcoin. The technology has been praised for its domination in the decentralization of computer systems and data storage. Data infrastructure is essential as…
Today, big data and blockchain technologies are commonly used in companies to improve processes. Blockchain is still transforming and operating in various industries while data science harnesses data to ensure proper administration and decentralized ledger to trust the data. Blockchain technology entails a public ledger in which all the transactions taking place in the system…
Blockchain is an automation that is established utilizing several approaches like economic models, mathematics, cryptography, and algorithms. Moreover, blockchain is a community ledger of all cryptocurrency deals that get decentralized and digitized. All the deals of cryptocurrencies get recorded in chronological sequence to assist consumers in tracking the deals without keeping any key document of…
Blockchain is defined as distributed and decentralized technology used for data management. It stores data securely. It has a number of properties that make it trustworthy for keeping the records safe. It is composed of cryptographically secure blocks of information. Each process that is done using blockchain technology is stored in the form of transactions…
With all the hype that surrounds blockchains, it can be easy to leap into the fray without looking at how to implement your own blockchain distribution system. This is a huge mistake. Before you can take the plunge, you need to make sure that you are avoiding the following errors. Having Unrealistic Expectations If you…
The emergency of blockchain technology has presented a plethora of opportunities to the organizations in revolutionalizing their external and internal engagements. Blockchain has been able to address issues related to the trust in the network, by upholding and integrating the parameters of trust, organizations are facilitated to solving the problems instantaneously. Many governments and organizations…
Changes influenced by Blockchain technology in business practices. Blockchain is an emerging technology that is promising in the business field. It involves the tracking of the transactions so that business people can be fully informed of the process. The paradigm shift is a significant change that occurs in a certain field. In this case, Blockchain…
Blockchain technology has improved healthcare service delivery in the current healthcare system, such as secure encryption of patient information to handle healthcare crises. Thus, harnessing the blockchain’s power in healthcare and biotech has facilitated effective healthcare billing and enhanced prescription information in a digital format via creating an open-source database to enable easy access to…