The level of trust that Blockchain has so far displayed has begun to erode and threatened the very existence of some third party entities. How have some traditional third parties “failed” their clients, leading to Blockchain debut as the custodian of trust?
Blockchain is a combination of two long-standing technological developments.The first one is distributed ledger technology, and the second one is cryptography. The same holds true with bitcoins as a cryptocurrency. Its base is the blockchain which sits on the two old technologies. We see how human innovation is truly avoiding reinventing the wheel and the efforts are paying off.
Aside from addressing many bottlenecks associated with proof of work, proof of stake is not without its flaws. For instance, it seem to have introduced its own problems such as the “Rich getting richer”, liquidity issues and the possibility of one changing the history of the block chain.
Secret societies and other underground groupings involved in both illicit and dangerous activities are usually associated with anonymity and pseudonymity connotations. Secret organizations and underground groupings do not want to be tracked and latter prosecuted. Anonymity is thus a protection mechanism.
In part 1, we focused on one similarity and two types of PoS algorithm. This article will briefly review this and then discuss why proof of stake was introduced.
Disintermediation is the ability to remove intermediaries in financial transactions to save costs. Blockchain has however demonstrated that intermediaries can be done away with effectively, if not at a lesser cost than is attainable today.
This article will look at one high profile applications on Ethereum, namely; Augur, excluding Digix and Maker. These are decentralized applications, otherwise known as Dapps on the blockchain.
The main challenges affecting health care institutions, especially ones where they have diverse clientele dotted in different locations is keeping trusted data in sync. With thousands of payments and claims to be made each day, they need a system that can quickly process, sync, minimize any serious errors, and provide an accurate record of trusted data.
The corporate business world is filled with rival private and public entities conducting similar business undertakings. This article examines the major differences that set these apart and discuss how these compliment each other rather than setting them up as competitors.
With so many cyber-attacks launched against conventional Information systems around the world, resulting in the loss of billions of dollars, many have wondered how secure blockchain really is. This article will provide some insight into how blockchain is designed and secured at the same time.
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