The need for more centralization and a choice of consensus mechanisms are among the critical factors that determine the success of individual enterprise blockchains. There are arguments that this compromises on the security feature as opposed to decentralization and scalability.
As you already know, ethereum is an open-source platform for application deployment. However, just how can you personally get involved and build an application that will eventually run on this block chain?
By Lumai Mubanga. [email protected] When Nakamoto Satoshi released the source code for bitcoins in 2009, he probably did not realise the wider effects of that act on the world economy. He set forth a stream of innovations that would give birth to different terms and expressions that would become common in our century and beyond. […]
The medical industry is one of the largest industries in the world with billions of clients. The fact that every citizen needs it means it is one industry with the potential to make billions of dollars. Every country has its own unique challenges when it comes to handling medical services for its citizens. However, one common challenge is data availability and privacy of that data. Is blockchain finally the answer to that dual necessity?
When bitcoin was invented, it had clear goals of eliminating the controlling financial authorities over personal funds. It aimed to eliminate banks and other financial institutions and give power back to the owners. However, when enterprise blockchain became popularized, blockchain found fertile soils for easy incorporation into its genetic code. Diverse applications resulted.
The financial crisis of 2008 could be defined as an epoch event in the history of humankind that passed and left a trail of unknown effects, effects that would be felt decades after it is even forgotten. One though cannot mention that event without mentioning the banking sector.
We often refer to the public blockchain when discussing bitcoin, Ethereum and other related platforms. Can public blockchain be used for permissioned solutions? Can public blockchain be permissioned?
In the previous article entitled “Blockchain technology, a culmination of old technologies” we discussed two old technologies on which blockchain is built. These are cryptography and distributed systems. In this article, we move a step further to discuss additional features that have made blockchain what it is today.
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 addition to part 1, this article will focus on some other third party based payment systems and how their existence could be threatened because of the unrelenting conquest launched by block chain.
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