Introduction to distributed network: A distributed ledger is a type of database that is shared, replicated, and synchronized among the members of a decentralized network. The distributed ledger records the transactions, such as the exchange of assets or data. Participants in the network govern and agree by consensus on the...
Currently, the global economy is undergoing the largest technological transformation in history, and new ‘‘disruptive innovation’’ is transforming economic activity by creating simplicity and accessibility. According to ARK’s research following technology breakthroughs will advance significantly over the coming year. The top 3 “Big Ideas” for 2019 are (1) Deep Learning...
Security token has been attracting a wealth of coverage in recent months. Traditional paper-backed assets such as a company’s shares or bonds suffer from poor liquidity, a lack of transparency, and are subject to a complex manual process when distributing profits or dividends. [inlinetweet]It is expected that within 5 years,...
Blockchain (or distributed ledger) technology has the potential to drive innovation across a range of industries. The amount of people utilizing blockchain at the moment is relative to the number of people utilizing the internet in 1997, that is about 50-70 million users. As this technology continues to develop, the...
How centralized banking system looks? Let’s understand this complex traditional banking system by breaking it down layer-by-layer. Layer 1. Say Bob wants to pay Sasha 10$. Both hold an account with the same bank ‘Deutsche bank’. Since no money is leaving or entering the bank, they just have to update...
To understand what problem Bitcoin miners solve we have to first understand what SHA-256 is SHA-256 stands for “Secure Hash Algorithm” which is a Cryptographic Hash Algorithm. A cryptographic hash (sometimes called ‘digest’) is a kind of ‘signature’ for a text or a data file. SHA-256 generates an almost-unique 256-bit...
Gaming Potential For Blockchain As Real Adoption:Undoubtedly, blockchain is still on the look-out for its mass adoption, a perfect use-case that can set its path to becoming a usable technology adopted by wide users. Many think a digital form of currency can be the one but all hopes of adoption...
Currently, the transactions in blockchain like Bitcoin or Ethereum are public. Neither companies nor individuals are particularly keen on flashing their information onto a public database that can be read by anyone (like co-workers, or business competitors) without any restrictions. Let’s consider yourself at a coffee shop and paying for...
A consensus mechanism is used in blockchain systems to achieve the necessary agreement among distributed systems or participants on a single data value or a single state of the network. Let’s understand how in general agreements are made in the real-world. Rule of the majority Consider a group of people...
Tokenization – [inlinetweet]”Creating an economic incentive for certain behavior”[/inlinetweet] Let’s assume you are a content creator with a large following (let’s say 1 Million+) in your social media channels like Twitter or own website or blog for writing reviews on Chinese food and restaurants in America. You gain income by...
