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  Proof of concept is a presentation of the product and its potential viability. It described the idea and proposed functionality of the product, including the general design and how feasible they are.  The main purpose of POC is it serves as a prerequisite for companies before they produce the final version of a product, then release it for wide-scale implementation. Simply put, a small-scale visualization practice to verify the potential of a real-life application project. It's not about delivering that concept but exposing its feasibility. Furthermore, it allows decision-makers to explore the project's potential, giving them a glimpse of the bigger picture once the business launches the product. Now let us explore why small-scale businesses need POC development.  Reasons why POC development is imperative for small businesses: Proof of concept are critical in helping businesses, particularly small ones, launch their new product ideas and begin their POC development...

We have now dived into the era of digitized smart contract deals with blockchain inception. Smart contracts are built on the blockchain framework, by which they adopt the features of the technology such as immutability, P2P transactions, tamper-proof, ergonomic reconciliation, and much more. Smart contract auditing is the process of analyzing the code base and rectifying the errors in code, functionality bugs, design issues, security issues, and vulnerabilities. It's advised to deploy smart contracts only after the smart contract audit company does professional auditing. In this blog post, let's explore how professionals do smart contract auditing! A step-by-step process of professional smart contract audit Specification documentation Smart contract audit must be done after the code-freeze(i.e., the development code has reached its final draft stage without any potential flaws). Once the code is committed by the development team, both the auditing and development team must agr...

  The manual management of the healthcare ecosystem has become a very complicated and frustrating task for the management staffs. The chance of losing health-related data and records has become an everyday incident while it is manually managed.   Blockchain in healthcare has made it comfortable, and the time is consumed less to maintain data and process tasks in an effective way.   Managing the privacy of confidential records always be a challenging task for the healthcare industries. After the inception of blockchain technology, healthcare operations are more secure and protected, by eliminating the intermediate role for verifying the records' correctness and accuracy.   Now, let us know the multipurpose ways that the blockchain has to offer us in the healthcare industry.  Securing patients medical record  The blockchain's ability is to keep an incorruptible, decentralized, and transparent ledger of all data, making it rigid. Additionally, while ...

The word ‘hack’ is ambiguous in the digital realm. It takes a variety of meanings under different contexts. But when it comes to the blockchain, to hack is to have power over it, thus possessing control over more than 51 percent of the computers interlinked to it, which is impossible. How does blockchain work? The Blockchain technology   is an immutable ledger. A set of entries is called a block and multiple blocks linked one after the other together constitute the blockchain. They are shared with all the users in the network. The ledger data is validated through a common consensus mechanism. The entries on the ledger are made immutable by several computers performing computations to validate them. This is called hashing the block.  Hashing involves crypto-encrypting the entries. Each block has a heading entry that denotes the link to the previous block. This helps in identifying the sequence. Hash algorithms ensure the changes made during encryption by subsequently changing ...

The blockchain technology uses cryptography and distributed databases to record transactions.  The data are stored in an immutable way in an ever-growing system that contains interlinked ledgers, which are all synced with the same information.  Although blockchain technology is still naive, it’s a cryptographic decentralized, secure system that has created positive impacts in many sectors, especially in the core banking and financial industry. Few banks have already implemented blockchain technology for strengthening their business and maximizing business profits and have a surplus international currency. Now let us discuss the key impact areas in the banking sector .   Key impacts of blockchain in the banking sector. Complete transparency and mitigation of data redundancy Blockchain technology's uniqueness lies in its decentralized series of independent and interlink nodes module, which records the data in the ledger format and makes sure that there is no...

A p2p cryptocurrency exchange platform that verifies buyers’ and sellers’ accounts and allows the users to trade crypto directly between them without the need for intermediation. In the traditional payment method, the order book matches the buy and sell order and controls the user funds on the platform, but. In contrast, in the peer-to-peer cryptocurrency exchange model, the participants trade directly with each other without central authority involvement.  In the P2P exchange platform, if the buy and sell order is matched, the software does not execute the trade immediately. Rather, it connects the two participants and enables them to set the trade on their terms and conditions.  Now, let’s scrutinize the features of P2P Cryptocurrency exchange software   Features of P2P cryptocurrency exchange High security and privacy P2P exchange provides an escrow service that builds on a secure smart contract protocol. As it possesses a decentrali...

In recent years, the cryptocurrency users and merchants accepting them have increased enormously. As a result, the use of cryptocurrency and blockchain technology has become more invincible. A cryptocurrency is a digital form of assets. Cryptocurrency transactions are nothing but the value exchange between two parties without the involvement of a third party. So all these digital assets are stored in the cryptocurrency wallet.  A cryptocurrency wallet is a software that stores and perform transactions with all the crypto coins. The wallet app enables the users to send and receive digital currencies and keep track of their balance by interacting with blockchain network.  Now let's explore the essential features that one should take into consideration for cryptocurrency wallet development.  Features of cryptocurrency wallet QR code scanner  If you are using a cryptocurrency wallet, then the QR code scanner is a must feature that has to b...