What Are The Applications And Use Cases Of Blockchains?
What Are the Applications and Use Cases of Blockchains? Blockchain technology is a revolution in systems of record. Bitcoin is historys first permanent, decentralized, global, trustless ledger of records. Since its invention, entrepreneurs in industries around the world have come to understand the implications of this development. The nature of blockchain technology has got imaginations running wild, because the idea can now be applied to any need for a trustworthy record. It is also putting the full power of cryptography in the hands of individuals, stoppingdigital relationships from requiring a transaction authority for what are considered pull transactions. For sure, there is also a lot of hype. This hype is perhaps the result of how easy it is to dream up a high-level use case for the application of blockchain technology. It has been described as magic beans by several of the industrys brightest minds. There is more on how to test whether blockchain technology is appropriate for a use case or not in ourguide "Why Use a Blockchain?" . For now, we turn to a discussion of the development of blockchain technology for how it could be useful. Cryptographic keys in the hands of individuals allow for new ownership rights and a basis to form interesting digital relationships. As weve discussed in our guides "What is Blockchain Technology?" , "How Does Blockchain Technology Work?" and "What Can a Blockchain Do?" , blockchains provide an opportunity to establish a strong system for digital identity. Because it is not based on accounts and permissions associated with accounts, because it is a push transaction, and because ownership of private keys is ownership of the digital asset, this places a new and secure way to manage identity in the digital world that avoids exposing us Continue reading >>
What Is Blockchain Technology? A Step-by-step Guide For Beginners
What is Blockchain Technology? A Step-by-Step Guide For Beginners Angel Investors, Startups & Blockchain developers... Is blockchain technology the new internet? The blockchain is an undeniably ingenious invention the brainchild of a person or group of people known by the pseudonym, Satoshi Nakamoto . But since then, it has evolved into something greater, and themain question every single person is asking is: What is Blockchain? By allowing digital information to be distributed but not copied, blockchain technology created the backbone of a new type of internet. Originally devised for the digital currency , Bitcoin , the tech community is now finding other potential uses for the technology. Bitcoin has been called digital gold, and for a good reason. To date, the total value of the currency is close to $9 billion US. And blockchains can make other types of digital value. Like the internet (or your car), you dont need to know how the blockchain works to use it. However, having a basic knowledge of this new technology shows why its considered revolutionary. So, we hope you enjoy this, what is Blockchain guide. The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value. Picture a spreadsheet that is duplicated thousands of times across a network of computers. Then imagine that this network is designed to regularly update this spreadsheet and you have a basic understanding of the blockchain. Information held on a blockchain exists as a shared and continually reconciled database. This is a way of using the network that has obvious benefits. The blockchain database isnt stored in any single location, meaning the records it keeps are truly public and easily verif Continue reading >>
Blockchain For Developers: Is It Right For Your Application?
Blockchain for developers: Is it right for your application? Blockchain is a hot technology right now. Unfortunately, lots of pilots of blockchain technology have been for applications that haven't really been a good fit for the technology, ones where traditional relational databases, such asMySQL,work just as well, and perhaps even better. So how do you know if blockchain, which has been promoted for secure transactions , is a fit for your application project? The key to answering that question lies in understanding the fundamentals ofBitcoin and blockchain. Only when you understand the benefits and drawbackscan you addresswhat criteria you might use to identify projects that are truly suitable for blockchain technology. Best Practices for Building a Secure Data Lake A blockchain is the data structure that the Bitcoin cryptocurrency uses for its public ledger, where transactions are recorded. Somewhat curiously, the term blockchain does not appear in the original description of the Bitcoin protocol (neither does the term block chain). The closest that it came was using the term chain of blocks in a comment in the source code for its implementation. Because of this fuzzy origin, there is no clear definition of exactly what a blockchain isand is not. And while few people would dispute that Bitcoin uses a blockchain, opinions on other uses of the same technology are more divided. Some even argue that the only appropriate use for the term is for Bitcoins public ledger. When most people talk about blockchains today, they mean a distributed database comprising a collection of blocks of data, each of which contains a timestamp and a cryptographic link to a previous block, in addition to the other data that it might store. And they often mean a database that is readable by ma Continue reading >>
Why Use The Blockchain Instead Of A Database? What Gives Tokensvalue?
Why use the blockchain instead of a database? What gives tokensvalue? A primer on blockchain and token concepts for beginners. I see these questions asked all the time by novice investors entering the space, either for specific projects, or as a general question. So I thought Id attempt to write a detailed yet basic explanation on the utility of tokens, and what justifies the use of a blockchain. Basically, blockchain embodies a lot of game theory and incentive models. In order for a blockchain network to be valuable or useful, it has to have participants in a network, it would be worthless if Bitcoin only had me and you using it, theres not much value there in a barren network with not much utility. In order to secure participants, there needs to be some sort of incentive to attract them, the most common method is via issuance or reward of the token used in the network, the more participants, the more decentralized it is. So why not just a database, why do these projects need a blockchain? There are a few key benefits to decentralizing things instead of keeping it in a centralized server/database: Having records and data decentralized, and deployed on a blockchain makes it virtually impossible for any one party to tamper with data or records. Versus how it is now, if you host your data on lets say, your computer, you can easily edit that file, before you send it to someone else, how can I ensure I can trust you? Traditional servers or data are generally centralized, making it a likely target for malicious attacks. Just look at the Equifaxs security breaches and other cybersecurity concerns arising in recent times. Instead of having a single or limited # of servers hackers can attack, decentralization via the blockchain greatly increases the difficulty. The more partic Continue reading >>
17 Blockchain Applications That Are Transforming Society
17 Blockchain Applications That Are Transforming Society Angel Investors, Startups & Blockchain developers... The early internet dealt with intangibles. You sent or received emails, corresponded on forums, read and distributed articles. This modern internet deals with assets, your most valuable immediate items that you can touch and want to protect. These assets are stored in encoded form on a network-to-network chain called the blockchain or ledger, where each participant sees who you do business with. This not only protects your business dealings and prevents theft, but, also, simplifies your affairs, quickens the process, reduces errors, and saves you from hiring a third party. This decentralized blockchain system is going to change your life from the way you transact business or manage assets, to the way you use your machines, vote, rent a car, and even prove who you are. Along the way, it will transform banks and other financial institutions, hospitals, companies, and governments among others. Heres what the blockchain does and what it means to you. At its simplest, cryptocurrencies, or digital coins, are coins that are passed through an electronic network. You can make transactions by check, wiring, or cash. You can also use a type of virtual currency, most famously Bitcoin (BTC) but also Litecoin, Peercoin, or Dogecoin, among others, where you use an electronic coded address to make the transaction. The more valuable the transaction, the more you want to protect it. Traditional systems hire a mediator, such as a banker or a remittance company to ensure trust. Islanders of Yap had a different solution. They kept a mental record of who owned what and referred to this distributed community record when disputes arose. The blockchain is this community record on a wid Continue reading >>
How To Get Paid Just For Using Blockchain Apps
Ever heard of SMSChain , the newest and hottest addition to the family of decentralized sharing economy apps? In this article, we have taken a closer look at both SMSChain and similar apps that enable you to earn money, basically for free. We hope youll enjoy our in-depth guide and profit! How to start earning tokens with Blockchain apps A number of new apps are currently pioneers in what is known as the crypto economy an economy based on Blockchain tokens. These tokens come in all shapes and sizes, but the most popular kinds of tokens are the so-called ERC-20 compatible tokens. These tokens can be stored in any ordinary Ether wallet, and can be traded on multiple exchanges. Thus, token owners can sell them for other cryptocurrencies for example the highly popular Ether and Bitcoin and they can even convert them to fiat currency if they want to. So why is this interesting? Many startup founders currently want to leverage the opportunities that a native token offers in particular, gain traction for the respective startup and app. Using a native token inside an app can serve many purposes: Users can pay or reward each other, token ownership can be attached to voting rights, or token owners can receive a share of the startups profits. All of this contributes to the establishment of a loyal and lively community inside the app ecosystem. A lot of startup teams have recognized the value of native tokens for their system. However, a critical mass of token owners and participants need to be reached in order for the community effects to come into play. Startups have quickly noticed that there are certain measures that can speed up the path to a functional community. In the early days of their businesses, they would award their tokens to early adopters in exchange for a little p Continue reading >>
Blockchain Iphone App - My Wallet
Access your Blockchain Wallet securely on the go Scan a friend's QR code to seamlessly send and receive bitcoin Client-side encryption ensures that youre the only one with access to your funds Supports 25 languages, and converts over 22 currencies Automatic backups mean your data is safe, even if your device is lost or damaged IF MY PHONE IS STOLEN ARE MY BITCOIN SAFE? All wallets are PIN protected - 4 incorrect attempts are possible before the main wallet password is required to be re-entered. IF I LOSE MY PHONE OR DELETE THE APP, WILL I LOSE MY BITCOIN? No, you can still access your wallet online using the web interface. To login all you need is your Wallet ID and your personal password. You can also use your backup phrase to regain access to your funds. Your encrypted wallet is always automatically backed up to our servers, so your web wallet will be as up to date as the wallet on your phone was. If you enter an incorrect PIN 4 times you will simply be asked to re-enter your main password. If you have forgotten your main password, you can re-access your bitcoin by using your Backup Phrase. Read more about why it's important to backup your wallet with your Backup Phrase here . Continue reading >>
How To Develop A Blockchain Application
Mobile Expert and Co-founder of octodev.net Bitcoin is the first decentralized currency in the world and it attracts more and more attention over the last couple of years. Bitcoin functions with the help of blockchain technology, which itself bases on the chain of transactions blocks. The information about those transactions updates at all devices in the world simultaneously. The experts predict blockchain big and bright future the technology that ensures that the authenticity of transactions can only be confirmed by the parties involved, without any middlemen or regulating parties, can confirm land and diamonds property rights and organize the communication of smart electronic devices. Despite the fact that not long time ago Bitcoin was beating all anti-records and the wide use of it in the worldwide trading is still in the distant future, blockchain is gaining more and more attention from biggest banks, techno-corporations, governments and venture investors. It was in November 2015 that the combined investments in blockchain projects and Bitcoin have passed the 1$ billion mark. Although in its early days blockchain was only attractive as a base for stable functioning of every cryptocurrency, todays researches and new technologies tell us a completely different story: this database can be used almost everywhere, there are social networks, helpful projects of all sorts and even bank services functioning with help of block data keeping system. It surely isnt the limit, blockchains future looks bright and huge. And that future is something that a lot of people could be afraid of: blockchain can easily replace a lot of bureaucracy system workers, who are only needed to work with databases. At current rate soon comes the day when we wont even need the people for maintainin Continue reading >>
How To Build An Application Using Blockchain Technology - Quora
How do you build an application using blockchain technology? Answered Feb 1, 2018 Author has 102 answers and 65.2k answer views Today, many believe that blockchain technology is a breakthrough with very serious consequences that will affect not only the sphere of finance but also many other industries. Technology is already used in the banking sector, energy, medicine, public sector, in platforms for multimedia content, and aviation. Define how you want to handle the blockchain database Test your idea with a Proof-of-Concept approach Start the Blockchain software development lifecycle A blockchain application, I think, is a good choice in the development today, because blockchain-based tools will become a core and foundational in the period ahead. Detailed information about the building of application using blockchain technology you can find here . Answered Jul 28, 2016 Author has 925 answers and 753.7k answer views As this is to much information to answer in a single post, I will try sharing a link. Hopefully QUORA will support you by allowing you to see this link below. Answered Nov 16, 2016 Author has 78 answers and 51.2k answer views First you need to ask yourself what do you need a blockchain for? Then map out the desired technical functionality, and finally scope out and find an open source blockchain that closest matches your needs and fork it, then edit and extend it to whatever you require. Exactly as you said. You could start with Bitcoin, Ethereum, Hyperledger, there are a lot! If you want to build your own blockchain from scratch for whatever reason, you need engineers who understand how to create network protocols and code cryptographic algorithm. Then you need to build it out in much the same way as you would build out any technology from the ground up. Continue reading >>
Create A To-do List App Using Blockchain - Ibm Code
Create a to-do list app using blockchain Create a web-based to-do list application using Hyperledger Fabric V1.0 Last updated | By Ishan Gulhane , Kevin Hoyt Hyperledger Fabric is a shared, immutable ledger for recording the history of transactions; its fostering a new generation of transactional applications. This developer journey shows you how to perform traditional data store transactions with blockchain and migrate from Hyperledger Fabric v0.6 to v1.0. Youll implement a web-based to-do list application that enables you to browse, read, edit, add, and delete list items. This developer journey helps you understand how developers perform common transactions of creating, reading, updating and deleting against a Hyperledger Fabric blockchain. It also helps you migrate from Hyperledger Fabric V0.6 to Hyperledger Fabric V1. This web-based client is designed around Polymer 2 Release Candidate, which acts as a polyfill for assorted web components specifications. These specifications include Custom Elements, Shadow DOM, HTML Imports, and HTML Templates. As Hyperledger Fabric supports cross-origin resource sharing (CORS) out of the box, the web client communicates directly via HTTP/JSON. As requests arrive on Hyperledger Fabric, they are mapped to a specific smart contract written in Go. There are two types of requests that can be made. The first is an invoke request, which will take place asynchronously on Hyperledger Fabric, returning only a transaction identifier. The second is a query request which will return some value. This project uses invoke requests for create, update, and delete operations, and query requests for read operations. The to-do list application that you will create is designed to help you understand how common transactions needed by business processes Continue reading >>
What Are Non-bitcoin Applications Of Blockchain Technology?
What are non-Bitcoin applications of blockchain technology? Currently, I see six broad categories of uses for the Bitcoin blockchain: 1) Currency - Bitcoin began as a P2P electronic cash system. Anyone can hold bitcoin and pay anyone without a middle man. Examples: Bitcoin , L itecoin. 2) Payment Infrastructure - You can use Bitcoin to send money around the world. Merchants can accept bitcoin payments. This is slightly different than using bitcoin as a currency. Uses cases include merchant processing and remittances. Examples: BitPay , Abra . 3) Digital Assets - The blockchain can be used to create digital assets such as stocks, bonds, land titles, and frequent flyer miles. These assets are created using protocols on top of the Bitcoin blockchain. Example protocols include Coloredcoins and Counterparty . Companies using this technology: Chain , NASDAQ , Openchain . 4) Identity - Companies offer blockchain IDs that can be used to sign in to apps and web sites, digitally sign documents, etc. Here's mine: Wayne Vaughan's blockchain ID . Companies: Onename , Keybase 5) Verifiable Data - Create a verifiable record of any data, file, or business process on the blockchain. Examples: Tierion , Proof of Existence , Factom 6) Smart Contracts - Software programs that live on the blockchain and execute without the possibility of third-party interference. I call this "PHP in the sky". Examples: Ethereum , RootStock . My company, Tierion , is a pioneer of the verifiable data category. Here are some practical use cases that have been built using our platform. Create a verifiable audit trail of insurance claims . Create an audit trail for healthcare processes and patient data. Track the purchasing approvals of goods and services in Salesforce.com Archive every Slack communication, cre Continue reading >>
11 Money Transfer Companies Using Blockchain Technology
11 Money Transfer Companies Using Blockchain Technology Remittance (Money Transfer Service) has always been dominated by companies like Western Union and MoneyGram. But new players and startups are trying to make the scenario competitive by offering different forms of money transfer services. With the advent of digital currency and blockchain technology, companies are not holding back in adopting currencies like bitcoin to enable remittance services. With this service, companies are trying to solve multiple issues such as high transfer cost, limited money distribution methods, limited brand options, limited ways to deal with money, etc. The cryptocurrency market is still in a nascent stage to reach the migrant population masses but promises massive potential in the future. Here are few such companies leveraging this technology for money transfer services: 1. Abra (US):Founded in 2014, Abra provides person-to-person money transfers through an app. The app lets users store digital cash (valued in any currency) directly on their mobile device by using a debit card or through an Abra Teller. The user is not required to have a bank account to use the service. The user can send funds instantly to anyone with a smartphone. The recipient can withdraw cash from the app via a teller as well. Bitcoin is used as back-end infrastructure by the company, but funds are denominated in US dollars that pass through the system. The company has recently raised $12 million in a Series-A financing. Investors in the round include Arbor Ventures, RRE Ventures, and First Round Capital. Till date, the company has raised $14 million including the new round. 2. Align Commerce (US): Align Commerce is a Payment Service Provider (PSP) which enables businesses and payment platforms to send and receive Continue reading >>
8 Blockchain Application Ideas That Could Help Your Small Business
Coinpip are leading the charge in using the blockchain to transfer funds or handle payroll. Believe it or not, the term smart contract has been in-use since 1993, but now its associated with the blockchain thanks to the emergence of 2013s the This Project is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference. Smart contracts are self-automated computer programs that can carry out the terms of any contract, writes Chris DeRose in American Banker. In a nutshell it is a financial security held in escrow by a network that is routed to recipients based on future events, and computer code. With smart contracts businesses will be able to bypass regulations and lower the costs for a subset of our most common financial transactions. Additionally, these contracts will be unbreakable. Slock, which is an Ethereum-enabled internet-of-things platform, is already using this application so that customers can rent anything from bicycles to apartments by unlocking a smart lock after both parties agreed on the terms of the contract. Furthermore, global banks are using smart contracts to improve the syndicated loan market. One such company that is using blockchains to issue microloans is Blockchain technology can also be used as a convenient and inexpensive notary service. For instance, apps like Uproov, which is a smartphone multimedia platform, can be notarized instantly after a user creates an image, video, or sound recording. stampd.io, can actually be used to notarize proof of ownership of digital creation. Distributed cloud storage will be another blockchain application that businesses can take advantage of. Storj, company thats using the blockchain to prov Continue reading >>
Blockchain - Using Your Blockchain Wallet
What you need to know to start using your Blockchain wallet To log into your wallet you need your Wallet ID, your password, and any two-step verification that you have enabled. Your Wallet ID is a string of random letters and numbers that acts as a username. You can find it by navigating to the Wallet Information section of your Settings menu. Although it looks similar to an address, your Wallet ID cannot be used to send or request bitcoin or ether. You will always be able to see your bitcoin & ether balances at the top of your wallet and on your dashboard. Want to see your balance in your chosen currency instead? Click on your bitcoin or ether value and it will display the fiat currency equivalent. To send bitcoin or ether from your wallet, you need the recipient's receive address or QR code. To request, you can share your address or QR code with the sender. Note: your bitcoin address will change each time you request but your ether address will stay the same. Your home screen will display your most recent transactions, and you can find your full transaction feed by clicking on the corresponding asset in your wallets menu. What do I need to create a Blockchain Wallet? + Creating a free Blockchain Wallet is quick and easy. All you need is a valid email address and a secure password. What is an address? + Addresses are strings of letters and numbers, that are used to send you bitcoin or ether. For increased privacy, a new bitcoin address is generated for every transaction. Find the address for your next transaction by clicking receive in your wallet. Are there fees? + Yes. Transaction fees cover the mining network fees and the Blockchain infrastructure necessary to ensure fast and reliable transaction confirmation times. Miners prioritize transactions based on fees, so Continue reading >>
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