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.
t is not uncommon to read the following headlines in some national and private newspapers: “Retirees protest over unpaid retirement”. This article will discuss how the Ethereum blockchain can solve some of these endemic problems.
By Wirba Brice Divine Ransinyuy. [email protected] It is no secret that the world is getting or experiencing its worst days since the creation of the earth and the universe in general. Though, life may seem to be looking quite comfortable and handsome, it is not for everyone as our day to day actions affect us […]
In parts one and two of “blockchain – what it is”, we discussed why the tech design of blockchain has enabled it to be adaptable for worldwide use and adoption. Unlike the internet, blockchain is all about resource and asset management as opposed to information sharing and determination. But is blockchain infallible? What is it not?
The hype is here, the tone is set and the technology is just passing through its infancy into its young adulthood and eventual maturity. At that time we envision blockchain becoming as popular and well understood as the internet is today. Like the internet though, many people were outright skeptical, others optimistic and another group who totally avoided it due to lack of accurate knowledge or merely cultural barriers.
The fact that this is not traceable it is a bad thing. Because once you make a mistake in transferring so much money to another or bitcoin, someone you don’t know, someone you have no idea about, then consider it a loss.
DIGITAL CURRENCY APPLICATION -This form of currency is one available only in digital or electronic form, and not in physical form. -Can also be referred to as digital money, electronic money or cyber cash. -This system does not require any intermediary, therefore making it the cheapest to trade currencies. By adopting this system, Finmail benefit […]
In some developing countries, scholarships are not given to the needy groups of society with transparency and fairness. How can blockchain be applied to achieve fairness and transparency in the selection and award process?
In part (2), we will consider three more aspects, namely the consensus mechanisms, processing times, and privacy. This will throw more light on the dynamics of blockchain technology and highlight the reason why no one platform is the answer to all challenges.
There is a way to prevent identity stealing activity. One of them is by using a blockchain in form submitting. Using blockchain, a user will get irreversible data as the identity to replace their data. There are some reasons why blockchain technology can prevent personal identity thievery.
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