danbrown

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...

Blockchain technology is becoming a common phrase in this digital world. Many people think that the real applications of blockchain lie wholly in cryptocurrencies. Anyway, that's not the case in reality.  ·         In the rise of enterprise blockchain technology, people finally able to see the versatility of this new technology.  ·         Enterprise blockchain empowers industries with the security, ease of use, and control over their business. Many industries have already started to embrace the new adoption. This made the enterprise blockchain adoption to grow faster than expected.  ·         The technologists addressed the blockchain framework as the smartest database system. Many experts came forward to incorporate this framework into their business. The industries and enterprises wanted to implement blockchain because of its features. Here a...

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...

Blockchain technology has become a hot topic in every sector nowadays, and it has started growing over the business industries. In fact, the blockchain offers a lot of users quick solutions and high productivity when compared to conventional systems. Blockchain, as a service, plays a huge part in the economy and is adding values to the blockchain-based advancement. By utilizing this service, many industries have concentrated more on their center domain while agonizing less over the advancement space. On the Other hand, the enterprise blockchain services is designed specifically for commercial use like both public and private chains, and the nodes are thoroughly vetted and trusted parties.  Let me share with you some services that the enterprise blockchain has to offer us.  Enterprise blockchain services   Wallet development  A cryptocurrency wallet is a software that stores all your crypto coins, namely Bitcoin, Litecoin, Et...

The cryptocurrencies have surpassed a lot of hurdles and have stood out with its immense value even in this “Black Swan” corona crises. Despite the debates and messes around the cryptocurrencies, everyday new crypto coins are being launched in the coin market cap. As of now, the number of crypto coins listed in the market space is 5500+! Even though many countries are in chaos to legally accept cryptocurrencies for their transaction, the developed countries have adopted the crypto payment system.  In this blog, let’s look into the 5 significant uses cases of cryptocurrency wallets ! 5 Significant use cases of cryptocurrencies E-Cash The cryptocurrencies are invented as digital currencies that can be used as a medium of exchange for trade. Later, due to the high value of BTC, it became unsuitable for low transaction amounts. In 2017, the fork of bitcoin came out as “Bitcoin Cash”, which is widely accepted as the desired payment method in developed countries for a...