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Federated Blockchain

Blockchain As Part Of A Federated Real Estate Data Network

Blockchain As Part Of A Federated Real Estate Data Network

Prop Tech Product Executive, Data and Information Products Group (RICS) Key decisions at all stages in the property life cycle from financing, constructing and buying, to leasing and occupying assets rely on the availability, accessibility and reliance of robust verifiable data. However, key challenges in relation to better data capturing and management have given rise to discussions around the potential of blockchain for a wide range of industries, business models and operating processes. We spoke to leading industry experts at Deloitte to gain insights into the impact of blockchain on real estate professionals. Jan-Willem Santing and Jasper van Gelder share their views. Just some of the challenges that exist today around data capture and management include: Non-harmonised data collection formats and data reporting obligations Overall data availability, accessibility and reliability challenges Blockchain can play an important role in overcoming these challenges, grasping the potential of data in the real estate life cycle. A uniform, trusted source of real estate information for various stakeholders and applications in combination with blockchain has the potential to change the current role of real estate professionals and make multiple checks of the same data a thing of the past. Blockchain is a set of technical concepts that guaranties the uniqueness of transactions, their order and time. Bitcoin is one of the most well-known implementations of blockchain technology, where the goal is to prevent the user from double spending. When a user wants to spend cash it works as follows: The user can create a transaction in which they prove they own cash (using cryptography) The user distributes the transaction to all connected computers Each computer checks whether the sourc Continue reading >>

Chain Documentation

Chain Documentation

In this guide we discuss the design of the federated consensus protocol used by the Chain Protocol: its goals, use cases, threat models, and areas for future improvement. Federated consensus is a mechanism ensuring that all participants in a network agree on a single transaction log. This prevents different versions of the ledger being shown to different participants thus preventing double-spending of assets as well preventing history from being edited. While the blockchain validation rules specify whether a given blockchain is valid, the consensus protocol makes sure there is only one valid blockchain on a given network. This consensus protocol is designed to be practically useful under a certain set of requirements and assumptions commonly encountered in permissioned blockchain networks. The Chain Protocol is capable of supporting alternative consensus protocols. For a detailed description of the federated consensus protocol, see the formal specification . The Chain Protocol blockchain validation rules are intentionally agnostic as to what kind of consensus protocol is enforced. Additionally, they do not play a role in the process by which consensus is reached. Instead, blockchains provide a way for network participants to evaluate whether consensus has been reached: namely, consensus programs. The consensus program specifies a set of conditions that must be satisfied for a block to be accepted. The separation of consensus logic from blockchain validation rules, together with flexibility of consensus programs, allows networks to adopt of arbitrary consensus protocols, even including ones based on proof-of-work and proof-of-stake. The consensus program for each block is specified in the header of the previous block. When the block is validated by a network participant Continue reading >>

Inside The Federated Ledger: The Blockchain Technology Driving Instant Payments

Inside The Federated Ledger: The Blockchain Technology Driving Instant Payments

Inside The Federated Ledger: The Blockchain Technology Driving Instant Payments Inside The Federated Ledger: The Blockchain Technology Driving Instant Payments At the beginning of the year, we made a bold announcement declaring 2017 as the year of instant payments. It was much more than a marketing tagline but rather a commitment to driving the payments industry forward. Why should payment participants settle for faster payments when the technology and systems exist for instant payments? This was the central question we sought to answer and did so with a demonstration of how it is possible. In January, PayCommerce delivered the first live real-time cross-border payment between the U.S. and India using distributed-ledger technology. Weve received a lot of congratulations on the milestone but also a lot to questions, most notably: how? We want to answer those questions today. Its important to note cross-border instant payments are impossible on any single system. To facilitate a payment in real-time there are three separate and distinct business processes which must happen in the proper sequence. First, the payment needs a good funds model at the source. Second, security and compliance checks must be prearranged for the payment. Third, a preselected disbursement bank needs the capability to disburse the funds 24/7. As we can see, those three business process also require three distinct businesses: an originating bank, a payment processing engine and a disbursement bank. When we set out to execute real-time cross-border payments, we recognized the technology was in place but the business case had not yet been made. Both the originating and disbursement banks required verification of funds, regulatory compliance and auditability before a payment transaction could be comple Continue reading >>

What Is Blockchain Technology And Why Should You Care?

What Is Blockchain Technology And Why Should You Care?

What is Blockchain Technology and Why Should You Care? If you ask a group of people what Blockchain Technology is, youll get a split response. Half will say theyve heard the term, but cant explain what it is or dont fully understand it, and the other half will say theyve never heard of it. Most people, however, have heard of Bitcoin . And thats a great segue into to understanding Blockchain Technology. It is important to understand that Bitcoin is not a blockchain technology. Rather, its the use of Blockchain Technology that makes Bitcoin secure. The upside is that Bitcoin has enabled companies to see the value of Blockchain Technology. While it is safe to say that Blockchain Technology could have been created without Bitcoin, the cryptocurrency could not exist in its current form without Blockchain Technology. But were not here to talk about cryptocurrency Blockchain Technology is a type of data structure known as a distributed ledger that provides secure and valid data. You might be asking: what is a distributed ledger? Simply put, and without going down a rabbit hole, it is a consensus of replicated, shared and synchronized digital data that is geographically spread across multiple sites, institutions and even countries. Think of it this way: most data are stored in a single location as a centralized database; hopefully with at least one backup site. This database is a master copy. A distributed ledger has multiple copies of the database and every authorized user has a complete and continuously updated copy. So, the data is easier to access for recording and accessing purposes. Why is this a big deal? The true value of Blockchain Technology is that every record that is added to the distributed ledger creates an additional block or chain. There is the old saying A ch Continue reading >>

Blockchain Types: What You Need To Know

Blockchain Types: What You Need To Know

Generally speaking, there are public, private, and consortium or federated blockchains. Bitcoin introduced blockchain to the world in 2008, and ever since the technology has caught the media attention, and consequently business interest from a number of different industries. Today, propelled by the rise of cryptocurrencies, decentralized computing is emerging as the next big thing in IT. Also today, we have a few different blockchain types, and in this article well briefly go through three main kinds public, private, and consortium or federated blockchains each of which has its use case(s). Additionally, there are also some subtypes, such as public-permissioned and private-permissioned blockchains, but well leave them for some other time. So, without further ado, lets get started As its name says, a public blockchain is fully open to the general public, allowing anyone to read, write and review/audit the (public) ledger. With no one in charge, you may wonder how decisions are made in the public ledger. For this, public blockchains rely on various decentralized consensus mechanisms, such as Proof of Work (PoW) and Proof of Stake (PoS), which make sure all transactions are cleared on time. Bitcoin, Litecoin, Ethereum and just about any other cryptocurrency runs on a public blockchain. Because of that, anyone can run a full node and start mining for cryptocurrency. Also, anyone can make transactions and review/audit them in a Blockchain explorer. On the other side of the spectrum, we have private blockchains that are privately owned and operated by an individual or an organization, which in turn can set the rules however they like. For instance, they may limit reading from and writing to blockchain to select parties, only. This is a more centralized system where consensus Continue reading >>

The Difference Between A Private, Public & Consortium Blockchain.

The Difference Between A Private, Public & Consortium Blockchain.

The difference between a Private, Public & Consortium Blockchain. Blockchain Marketplace : Multiven expose son projet au coeur de la Crypto Valley The difference between a Private, Public & Consortium Blockchain Intrepid ReviewAs financial institutions begin to explore the possibilities of blockchain technology, they are coming up with systems that complement their existing business models. A private or a consortium blockchain platform, as opposed to the public platform that Bitcoin uses, will allow them to retain control and privacy while still cutting down their costs and transaction speeds. In fact, this private system will have lower costs and faster speeds than a public blockchain platform can offer. Blockchain purists arent impressed. A private platform effectively kills their favorite part of this nascent technology: decentralization. They see the advent of private blockchain systems as little more than a sneaky attempt by big banks to retain their control of financial markets. Though the evil plot narrative is a bit much. If big banks can utilize a form of blockchain technology that revolutionizes finance, and if they are willing and able to pass these benefits onto their customers, then it is hardly an evil plot. the idea that there is one true way to be blockchaining is completely wrong headed, and both categories have their own advantages and disadvantages.[1] Lets take a deeper look at what these might be. A Blockchain was designed to securely cut out the middleman in any exchange of asset scenario. It does this by setting up a block of peer-to-peer transactions. Each transaction is verified and synced with every node affiliated with the blockchain before it is written to the system. Until this has occurred, the next transaction cannot move forward. Anyone Continue reading >>

Federated - Market Memo: Bitcoin? Meh. Blockchain? Now We're Talking

Federated - Market Memo: Bitcoin? Meh. Blockchain? Now We're Talking

Market Memo: Bitcoin? Meh. Blockchain? Now we're talking Everyone is talking about bitcoin and why not? The price of the wildly popular cryptocurrency soared 1,400% last year. But research suggests that, when it comes to long-term investment opportunities, bitcoin mania may be missing the forest for the trees. The real value proposition arguably lies in the blockchain technology that makes bitcoin and other cryptocurrencies possible. Indeed, for all its aura, bitcoin effectively fails the two primary tests of any currency: stored value and medium of exchange. Its highly volatile price can make a mockery of the former, while its relative obscurity presents significant limits to the latter, at least for now. However, the underlying technology that makes bitcoin possible opens the door to a broad range of applications. Blockchain acts as a sort of distributive e-clearinghouse, offering the potential to both speed and revolutionize the way business gets conducted across a range of industries. One way of thinking about it is this: if the first generation of the internet was the internet of information, blockchain represents the next generation, the internet of value. Its the digital ledger for the internet of things. It allows for secure, almost instantaneous transfer of any digital files between both sides of a transaction without requiring a middle man, such as a bank. Arguably, bitcoin represents the expression of peoples enthusiasm for blockchain, i.e., without the technology, there is no bitcoin. Perhaps an even greater expression was last months debut of Long Blockchain Corp., the rebranded name of the former unprofitable non-alcoholic beverage seller Long Island Ice Tea Corp. Shares in the renamed company, which is seeking a partner to actually form a blockchain vent Continue reading >>

Federated Blockchains Allow Multiple Parties In An Industry (for Example) To Mai... | Hacker News

Federated Blockchains Allow Multiple Parties In An Industry (for Example) To Mai... | Hacker News

Replying to myself since we hit max comment depth (probably an indicator it's time to move away from this thread anyway). but to address the sibling reply by hudon, yes, a blockchain is a form of a distributed database (maybe highly replicated data base is a better term since every node has the full working data set). The key trait of a blockchain is that each new entry cryptographically verifies all previous entries. At the end of the day, yes, a blockchain is a distributed db. It's a distributed db that never forgets. > The key trait of a blockchain is that each new entry cryptographically verifies all previous entries I see what you're saying. Basically: distributed database + signatures + merkle tree = blockchain. I usually use this definition: decentralized and sybil-resistant database + signatures + merkle tree = blockchain. So I think the key trait that turns a distributed database into a blockchain is not the merkle tree, but is its decentralized nature. Anyone can be a transaction validator and no one can prevent transaction validation. A "blockchain", taken as a primitive, is essentially an append-only (geographically-)distributed database. Consider: a Starcraft 1v1 ladder match is, by this definition, synchronized using a "blockchain", whose participating nodes are the two players' computers and the auditing ladder-server instance. That's not a reductio ad absurdam; that's actually what you should be picturing when you say "blockchain" generally: participant nodes, an event stream chunked into blocks, and a consensus mechanism for validating blocks. Proof-of-work is just one consensus mechanism for blockchains. Mutually-agreed arbitration oracles (as above) is another. First-claim using a global hierarchy of signed-timestamping servers is a third. Etc. This Continue reading >>

Excellent Explainer: How Consensus Algorithms (including Bitcoin/blockchain) Work

Excellent Explainer: How Consensus Algorithms (including Bitcoin/blockchain) Work

Congrats to Tom the Dancing Bug, which has won a Kennedy Journalism Prize! Our own Ruben Bolling, creator of the Tom the Dancing Bug comic, has won a Kennedy Journalism Prize, given for works that "provide insights into the causes, conditions, and remedies of human rights violations and injustice, and critical analyses of relevant policies, programs, individual actions, and private endeavors that foster positive change." Couldn't have happened [] Three artificial pancreases: a special trio of Catalog of Missing Devices entries EFF has just published an update to its Catalog of Missing Devices (a catalog of things that dont exist thanks to the chilling effects of Section 1201 of the DMCA): a trio of ads for future artificial pancreas firmwares that illustrate the way that control over devices can magnify or correct power imbalances. Syllabus for a course on Data Science Ethics The University of Utah's Suresh Venkatasubramanian and Katie Shelef are teaching a course in "Ethics in Data Science" and they've published a comprehensive syllabus for it; it's a fantastic set of readings for anyone interested in understanding and developing ethical frameworks for computer science generally, and data science in particular. Explore today's top machine learning tools in this bundle Machine learning is all around us. From Googles search engines to Teslas self-driving cars, this field powers many of todays AI innovations, and, as more of these products find their way into the mainstream, understanding how they work is going to be a valuable skill. Regardless of your experience level, thePay What You Want: The [] Learn front-end development with JavaScript If you have aspirations of making it as a web developer, youre likely going to need to master JavaScript. Abrowser language that s Continue reading >>

Federated Ethereum Blockchains

Federated Ethereum Blockchains

Submitted by jbrown on Mon, 07/25/2016 - 07:32 In the aftermath of the DAO fork it occurred to me that there might be a better way for large Ethereum projects to exist on the Blockchain. The idea is this: large projects should not use the main Ethereum or Ethereum Classic chains. Instead they should create their own independent blockchain specifically for their project. Smaller Ethereum projects could decide which of the Ethereum blockchains is the most appropriate to use. Which smart contracts do they need to integrate with most? It is common for large Ethereum projects to issue a token. If a project exists on its own blockchain this token would be the native transaction crypto-fuel that gets mined. It can optionally have a pre-issue for initial investors (like Ether). This can serve as a means of revenue generation for the project. Even if the tokens do not have additional meaning specific to the project, they are still required for transaction fees and therefore will have value if the chain becomes popular. For a fixed quantity of tokens the block reward could be removed completely. One of the problems with current blockchain technology is that every node has to store everything. With Ethereum there are plans to implement sharding at some point in the future. Implementing a fresh blockchain for each major project is way to have sharding today. Ethereum full nodes would only sync the blockchains that they are utilising. If a project is going to be storing a very large amount of data on-chain, using a separate blockchain means not subjecting everyone else to huge storage requirements. The DAO fork has fractured our community. Many immutability fundamentalists such as myself found it highly distressing for a hard fork to be implemented to fix a problem in an individual Continue reading >>

On Federated And Proof Of Validation Based Consensus Algorithms In Blockchain

On Federated And Proof Of Validation Based Consensus Algorithms In Blockchain

Paper The following article is OPEN ACCESS On Federated and Proof Of Validation Based Consensus Algorithms In Blockchain K. N. Ambili, M. Sindhu and M. Sethumadhavan Published under licence by IOP Publishing Ltd TIFAC CORE in Cyber Security, Amrita School of Engineering, Coimbatore, Amrita Vishwa Vidyapeetham, Amrita University, India Almost all real world activities have been digitized and there are various client server architecture based systems in place to handle them. These are all based on trust on third parties. There is an active attempt to successfully implement blockchain based systems which ensures that the IT systems are immutable, double spending is avoided and cryptographic strength is provided to them. A successful implementation of blockchain as backbone of existing information technology systems is bound to eliminate various types of fraud and ensure quicker delivery of the item on trade. To adapt IT systems to blockchain architecture, an efficient consensus algorithm need to be designed. Blockchain based on proof of work first came up as the backbone of cryptocurrency. After this, several other methods with variety of interesting features have come up. In this paper, we conduct a survey on existing attempts to achieve consensus in block chain. A federated consensus method and a proof of validation method are being compared. Continue reading >>

Types Of Blockchains

Types Of Blockchains

Blockchains & Distributed Ledger Technologies The Bitcoin White Paper was published by Satoshi Nakamoto in 2008; the first Bitcoin block got mined in 2009. Since the Bitcoin protocol is open source, anyone could take the protocol, fork it (modify the code), and start their own version of P2P money. Many so-called altcoins emerged and tried to be a better, faster or more anonymous than Bitcoin. Soon the code was not only altered to create better cryptocurrencies, but some projects also tried to alter the idea ofblockchain beyond the use case of P2P money. The idea emerged that the Bitcoin blockchain could be in fact used for any kind of value transaction or any kind of agreement such as P2P insurance, P2P energy trading, P2P ride sharing, etc. Colored Coins and Mastercoin tried to solvethat problem based on the Bitcoin Blockchain Protocol. TheEthereum project decided to create their own blockchain, with very different properties than Bitcoin, decoupling the smart contract layer from the core blockchain protocol, offering a radical new way to create online markets and programmable transactions known as Smart Contracts . Private institutions like banks realized that they could use the core idea of blockchain as a distributed ledger technology (DLT), and create a permissionedblockchain (privateor federated), where the validator is a member of aconsortium or separate legal entities of the same organization. The term blockchain in the context of permissioned privateledger is highly controversial and disputed. This is why the term distributed ledger technologies emerged as a more general term. Private blockchains are valuable for solving efficiency, security and fraud problems within traditional financial institutions, but only incrementally. Its not very likely that private Continue reading >>

Different Types Of Blockchains In The Market And Why We Need Them

Different Types Of Blockchains In The Market And Why We Need Them

Different Types Of Blockchains In The Market and Why We Need Them By: Sudhir Khatwani In: Blockchain Last Updated: Bitcoin introduced the Blockchain tech to the world. We all know that it started with Satoshi Nakamotos whitepaper in 2008 and the first Bitcoin getting mined in 2009. It all started with a vision to make an alternativeP2P currency. Soon this Bitcoin network was copied, forked and updated to make better cryptocurrencies such as Litecoin , DASH etc bynumerous crypto enthusiasts, which are now popularly called altcoins. Soon after this popularization of altcoins companies, governments and consortiums started looking into the underlining technology of these cryptos i.e. Blockchain. And the hype started that Blockchain is the real invention and not the Bitcoin And at the time of writing this hype has become so much hyped up that it has blurred the whole difference between the blockchain of P2P currencies (Bitcoin, DASH , Litecoin etc) and the blockchain developed by the companies, governments, and consortiums. So todays let us brush off some of this blurriness by looking closely at different types of blockchains and why we need them. There mainly three types of Blockchains that have emerged after Bitcoin introduced Blockchain to the world. There are some more complicated types also such as public-permissioned blockchain, private-permissioned blockchain etc but I will keep it simple for this discussion. Now Lets discuss all the three one by one. A public blockchain as its name suggests is the blockchain of public, meaning a kind of blockchain which is- for the people, by the people and of the people Here no one is in charge and anyone can participate in reading/writing/auditing the blockchain. Another thing is that these types of blockchain are open and transpa Continue reading >>

Things I Think I Know About Blockchains, Public And Federated

Things I Think I Know About Blockchains, Public And Federated

Things I Think I Know About Blockchains, Public and Federated Usage and support of blockchains will naturally tend towards a power law distribution, with one blockchain being by far the most used and supported. Blockchain security encompasses many things, but perhaps the most important metric is the cost of attack how much an attacker would need to spend to be able to attack the network. Blockchains come in the open/global and federated variety (also known as public and private), which correlate roughly to open, public Internets and private intranets, respectively. Just as there is one large public internet, there is one large public blockchain the bitcoin blockchain. Open blockchains in general require financial incentives to encourage mining / block building, which leads to a power law distribution of investment in mining and thus a power law distribution in cost of attack (which translates roughly to general blockchain security). Federated blockchains do not require direct financial incentives to encourage block building, but rather require a clearly defined set of stakeholders all with some strong reason for continuing to run a block building node on the network (note that this can take the form of indirect financial incentives). Some refer to federated blockchains as private blockchains. Here private refers to the permissioned nature of write access. Thus, these blockchains do not necessarily have private read access. In fact, many of todays designs allow for auditor nodes (the equivalent of full nodes in Bitcoin), which can either be run by approved entities (permissioned auditing) or be run by anyone (permission-less auditing). Open-access blockchains can be compromised if one of the following happens: (a) one entity invests an enormous amount of money in acquir Continue reading >>

Technology Fridays: Openmined Powers Federated Ai Using The Blockchain

Technology Fridays: Openmined Powers Federated Ai Using The Blockchain

Working on a new startup at the intersection of AI and blockchain technologies. Angel Investor, Columnist at CIO.com, Board Member of Several Software Companies Technology Fridays: OpenMined Powers Federated AI Using the Blockchain Welcome to Technology Fridays! The world of decentralized artificial intelligence(AI) applications has been gaining a lot of momentum. Part of this raise in popularity has been triggered by the steady evolution of blockchain platforms as well as the frenzy surrounding AI technologies. Recently, I wrote about SingularityNet as one of the platforms powering the decentralized AI movement. Today, I would like to cover another one of the innovative companies in the space: OpenMined . The idea behind OpenMined has been influenced by the idea of Federated Learning that was initially published by Google researchers and has become increasingly popular in the deep learning community. Conceptually, federated learning proposes a mechanism to train a high quality centralized model while training data remains distributed over a large number of clients each with unreliable and relatively slow network connections. OpenMined can be considered an implementation of a federated learning architecture which powers decentralization using blockchain smart contracts. Why is this decentralized AI thing such as big deal? Well, if you consider the traditional process of building a deep learning solution, there are several building blocks such as data acquisition, training, regularization or optimization that require an implicit trust between the different parties. For instance, if an organization shares a dataset with a group of data scientists, there is an implicit trust relationship between them that, if violated, can affect the final outcome of the project. In a bit Continue reading >>

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