#Quorum permissioned blockchain

[lisaward867]

The Ultimate Guide to Blockchain Application Development in 2025

By 2025, development of blockchain applications has ceased to be niche or speculative and has undergone sufficient growth to become one of the foundational pillars involved in digital transformation across multiple industries. From banks that want transaction transparency to healthcare organizations securing patient data, blockchain is central to many breakthrough solutions. As Blockchain application development snowballs into a global demand, a strategic investment is being considered first by both startups and enterprises. The technology aims desirably at cutting out intermediaries, cutting down on operational costs, and creating costs that can never be changed. thus, something even more valuable in an increasingly decentralized and secure world. In 2025, developers are creating blockchain innovation using sophisticated toolkits and frameworks, project development of blockchain is now more robust, more user-friendly, and more scalable than ever before.

Key Trends Driving Blockchain Development in 2025

The blockchain stratosphere is fast-aging and, as a result, key trends are sewn into development approaches for the year 2025. One of the biggest developments accelerating adoption is the modular blockchain structure, which permits tailoring to the needs of each project. Such platforms with all their thrust are currently required for real adoption; be it Ethereum 2.0, Polkadot, Cosmos, or Avalanche. Others that have yet to see the light of mainstream adoption, such as zkProofs or Layer 2 scaling solutions, aim at dealing with concerns around scalability and privacy without trade-offs in true decentralization. On the fringes, DeFi and NFTs are still maturing, and there is real buzz around tokenization of real-world assets and blockchain for supply-chain traceability. Moreover, developers are putting a lot of effort into the build-up of cross chain ecosystems to allow frictionless movement of assets and data across heterogeneous networks, thus ushering in the new dawn of collaboration and interoperability.

Choosing the Right Blockchain Platform

The decision on which blockchain platform to select plays a very big role in how applications release out to long-term success. Public blockchains such as Ethereum, Solana, and Near are the most suited for open, decentralized apps having too broad a user base and vigorous community backing. They may, however, be useful only in rare cases. Usually, private and permissioned blockchains-or-intended enterprise use are such as Hyperledger Fabric, R3 Corda, and Quorum that might request a little more privacy, access control, and regulation. One must also look at parameters like consensus protocols, transaction price, development tools, community support, and ecosystem maturity in making this choice. If these parameters are fully looked into, the developers and organizations will make sure that their blockchain applications get built on a platform that supports their immediate needs and growth.

Design and Development Best Practices

Effective blockchain application development is much more than smart contract programming. It is about building secure, scalable, and user-centric systems that realize concrete value. Being well-versed with the problem in question and clearly defining the value that blockchain adds to it is the first step. While developing, one must follow secure coding standards, employ robust testing frameworks, and have smart contracts audited to the fullest. Keeping in mind the modular nature of components will allow reusability and easy upgradeability, while an appropriate integration with off-chain services allows for seamless run-time operations. The other important point here is the UX, where simpler interfaces, wallet connections, and onboarding processes might accelerate adoption immediately. Of course, this does assume all systems stay updated with changes in governance, fork events, and past protocol updates to ensure continued system integrity and performance.

The Role of Web3 and Decentralized Identity

Web3 is much more than a  buzzword. It is a paradigm shift in user interaction with the internet. In 2025, the blockchain powered the key tenets of Web3: decentralization, data ownership, and peer interaction. Decentralized identity systems, or DID systems, are leading the way, whereby individuals can control and share personal information securely without depending on any centralized agency. This shift in orientation leads not only to more privacy and security but also to more trust among users of such digital platforms. Blockchain-based identity verification is applied in many scenarios, including but not limited to e-commerce, voting, healthcare, and education. Meanwhile, decentralized storage systems like IPFS and Arweave are granting developers the capability to build DApps that are fully decentralized and, thus, will not rely on conventional web infrastructure. In unison, these developments are reshaping the digital scene, with blockchain as the backbone for a fair vendor-transparent online world.

Conclusion

As blockchain continues to evolve, the demand for specialized skills and strategic guidance is more important today than ever before. Organizations trying to develop blockchain solutions must acknowledge that this technology demands not only technical skills but an understanding of cryptoeconomics, security, and user behavior. Collaborative teams of experienced experts offering end-to-end Blockchain application development services can guide clients through complexities like architecture design, protocol selection, smart contract auditing, and user interface development. These professionals will therefore assist the client to ensure their application is truly functional but also scalable, secure, and legally compliant. Through a combination of strategic roadmap and the apt development team, businesses can then harness the full power of blockchain to build their own strongholds in the digital economy of 2025 and beyond.

[mobiloittetech]

Private Blockchain Development Company: Enhancing Control and Efficiency

Private blockchains are transforming the way businesses manage data, transactions, and operations. Unlike public blockchains, private blockchains offer restricted access, making them highly secure, efficient, and customizable for specific organizational needs. Mobiloitte excels in delivering tailored private blockchain solutions to help businesses harness these benefits.

What is a Private Blockchain?

A private blockchain operates as a decentralized network with controlled access, where a central authority governs participation. It offers the perfect balance between decentralization and central control, making it ideal for industries requiring confidentiality and efficiency. Businesses such as banks, healthcare providers, and logistics firms leverage private blockchains for faster transaction processing and secure data management.

Advantages of Private Blockchain Solutions

Enhanced Security: Data is safeguarded through cryptographic protocols and restricted access.

Improved Efficiency: Transactions are processed faster and at lower costs.

Customizable Control: Organizations can define permissions and rules for network participants.

Scalability: Private blockchains adapt to the evolving needs of businesses.

Data Integrity: Transactions are verified and stored immutably, ensuring transparency and accuracy.

Role of Mobiloitte in Private Blockchain Development

Mobiloitte is a trusted partner for businesses seeking reliable and innovative private blockchain solutions. With extensive expertise in blockchain development, we provide:

Business Analysis: Identifying the right blockchain framework for your organization.

Custom Blockchain Development: Building solutions on platforms like Hyperledger Fabric, Quorum, and r3Corda.

DApp Development: Creating decentralized applications for seamless operations.

Integration Services: Ensuring smooth incorporation with existing systems.

Our team of experienced developers is dedicated to delivering secure, scalable, and high-performance blockchain solutions tailored to your specific needs.

Applications of Private Blockchain Development

Finance: Enable secure transactions and real-time settlements.

Healthcare: Protect patient data while ensuring compliance.

Supply Chain: Optimize logistics with real-time tracking and transparency.

Education: Securely manage records, credentials, and certifications.

Mobiloitte’s solutions cater to diverse industries, ensuring every business can leverage blockchain for maximum efficiency.

Conclusion

Private blockchain development is the key to unlocking secure and efficient operations across various industries. Mobiloitte’s expertise in designing and implementing tailored blockchain solutions ensures your business achieves its goals while staying ahead of the competition.

[oliverethanrobin]

Enterprise Blockchain Development: Transforming Businesses with Justtry Technologies

Introduction

In modern conditions, enterprise blockchain development is already a leading solution among companies that want to up the efficiency level and secure their data. Justtry Technologies is the global organization that focuses on providing end-to-end block chain services for industries. But let’s take one step back and understand what is enterprise blockchain and how it can help your business. Now, it is high time to flesh out the potential of this innovative technology in terms of the concepts, features and applications.

What is Enterprise Blockchain?

Enterprise blockchain can be described as the application of blockchain within the business environment for the purpose of efficiency enhancement of various business activities and rendering of business solutions that are both secure and transparent. While blockchains that are public in nature allow anybody to join and engage the network, enterprise blockchains are mostly private where only the admitted parties can transact. This fosters an environment perfect for industries such as finance and supply chain not forgetting healthcare where issues to do with privacy and data control are paramount.

As with any other type of blockchains, there are many things that you can do with the Enterprise Blockchain Development.

By leveraging enterprise blockchain development, companies can:

Streamline Operations: Reduce the need of mediators and accelerate transactions that occur.

Enhance Security: This feature makes data to be safe and secure from fraud and cyber threats since the information stored in a blockchain cannot be changed.

Improve Transparency: Any transaction that is executed on a blockchain is broadcasted publicly for all the authorized participants within the business network hence increasing the level of trust among the business entities.

Facilitate Compliance: Blockchain assists the management of organization to ensure clean and accurate records that are important for compliance with the set regulations and especially in industries that have strict regulation on the records to be produced.

The following are the features that identify the best enterprise blockchain:

Here are some standout features of enterprise blockchain:

Decentralization: Data is not centralized and it is broken up into several nodes to minimise risks associated with failure of any particular node.

Immutability: That is why once data has been entered into the blockchain it cannot be changed – creating a high level of reliability.

Smart Contracts: Escalate and automatically enforce contracts where conditions are met automatically so as to minimize discretion.

Permissioned Access: The benefits of using enterprise blockchains are that members of the network are always known, the nodes are vetted, making it easier to govern access and therefore more effective in controlling sensitive data.

Scalability: Enterprise blockchains on the other hand are built for more transactional requirements and therefore organizations undertaking big operations need them.

Enterprise Blockchain Platforms

Several enterprise blockchain platforms are widely adopted, each offering unique benefits:

Hyperledger Fabric: A permission based application that enables firms to create an enterprise grade blockchains to their requirement.

Ethereum (Private Networks): private Ethereum networks are excellent for building a decentralized application because of smart contracts that can be used.

Corda: Built for finance industries it provides privacy and scalability in the enterprise environment for which it has been built.

Quorum: Quorum is an Ethereum-based platform which is designed for privacy and performance; thus, Quorum is ideal for enterprises that need fast and secure transactions’ processing.

Strategic Advantages That Blockchain Development Provides for Enterprises

Enterprise blockchain development offers numerous advantages for businesses across industries:

Reduced Costs: Blockchain erases the intermediaries, and that means that applying this technology leads to saving money due to the automation of particular processes.

Improved Efficiency: They are completed faster especially where the use of smart contracts which self-executes all the contractual provisions.

Enhanced Data Security: For this reason, through the application of cryptography, block chain ensures that data is protected from any form of alteration.

Greater Trust: Transparency which is nature of the blockchain technology fosters trust among partners, suppliers, and customers.

Regulatory Compliance: Businesses find blockchain quite appropriate because its records do not contain ambiguity and thus help in adhering to regulatory standards.

Applications of Block Chain in Enterprise Environment

Enterprise blockchain has applications across a variety of industries:

Supply Chain Management: Blockchain also makes it possible for businesses to track the flow of their products in a bid to enhance transparency and effectiveness of the supply chain right from the manufacturing process up to the delivery stage.

Finance: This is because it facilitates the safe conduct of financial transaction without relying on the third parties like the banks.

Healthcare: Blockchain can also be applied in sharing of information concerning patients in a safe method and embraces the laws for example the HIPAA.

Retail: Another example of applying blockchain is in improving customer rewards programs as they can be tracked in real time by retail stores.

Energy: Blockchain technology is also applied for microgrid trading where clean energy from renewable sources can be generated and traded between the electric grid producers and consumers.

Conclusion

In the context of today’s ongoing digitalisation of businesses, the development of enterprise blockchain remains a stable approach to optimise and secure operations while increasing trust. As for Justtry Technologies, the client gets a team of dedicated developers who will provide a specific type of blokchain for your field of activity. Whether it is supply chain management or finance and everything in between, blockchain will change the way that business is done.

[blogchaindeveloper]

What is a Blockchain Engineer? Salary, Skills & Career

Blockchain technology is a quickly developing subject that changes significantly and rapidly impacts many industries. Due to a lack of experienced workers in various sectors, there is an increasing need for qualified blockchain engineers. In this post, we'll examine how to become a blockchain engineer, go into the duties and functions of the job, and tackle the critical topic of how much money blockchain engineers make a year. We will also discuss some of the best blockchain certifications and courses to improve your technical abilities and open doors to lucrative career prospects.

Knowing What a Blockchain Engineer Does

Blockchain engineers drive innovation in various industries by working with computer networks, data structures, and algorithms. Their main goal is to develop and deploy digital blockchains to provide businesses with cutting-edge solutions. The need for blockchain developers and engineers never goes down, even though terms like "blockchain developer," "blockchain engineer," "blockchain architect," and "blockchain expert" are frequently used interchangeably.

Examining the Duties in Detail

Depending on the organization, blockchain engineers' duties may differ. However, they usually include the following:

Data Discovery: Finding reliable data sources is an essential first step for blockchain projects.

Application Development: Using blockchain technology to create reliable applications that have the power to transform a range of sectors completely.

System Architecture: This section defines the architecture of blockchain systems using statistical data and a thorough comprehension of ideas like consensus and hash functions.

Backend development is creating blockchain systems' backend functionality to enable mobile applications.

Testing and troubleshooting: Finding and fixing mistakes in blockchain projects to guarantee smooth functioning.

Maintenance and modification is known as updating and refining apps' front-end and backend code to keep them functional and up-to-date.

Coding is creating and executing code that perfectly complies with the demands of any blockchain application.

Integration: Working together to smoothly integrate blockchain applications with data science, research, and production management teams.

Research: Conduct in-depth research on blockchain projects to keep abreast of recent developments.

Cybersecurity issues must be recognized and addressed to preserve the integrity and security of blockchain networks.

Crucial Competencies for Blockchain Professionals

Technical Proficiency:

Blockchain Architecture: A thorough comprehension of hash functions and consensus mechanisms in blockchain architecture.

Programming Languages: Knowledge of essential programming languages, including Python, Clojure, and JavaScript, is necessary for blockchain development.

Data structures: a thorough understanding of the Patricia and Merkle Tree data structures frequently employed in blockchain technology.

Cryptography: Within blockchain networks, data encryption, and security are guaranteed by cryptography expertise.

Blockchain Platforms: Knowledge of public, permissioned, private, permissionless, and federated blockchain platforms.

Ecosystems: familiarity with various blockchain ecosystems, such as Hyperledger, Ethereum, Corda, and Quorum.

Development Tools: To speed up solution production, become proficient with blockchain development tools like MetaMask, Remix, and Truffle.

Soft Skills:

Communication: Excellent written and verbal communication skills are necessary to cooperate and communicate project needs effectively.

Teamwork: Reaching project objectives requires the ability to collaborate with a varied range of team members.

Critical Thinking: Developing successful plans and resolving challenging issues requires applying strategic and critical thinking abilities.

Creativity: The ability to solve problems creatively is essential for examining many approaches and choosing the best one.

Adaptability: Adopting new tactics and technology requires a flexible mentality in the always-changing world of blockchain.

The Wealthy Route to Becoming a Blockchain Engineer

There is a constant need for blockchain engineers and developers, which bodes well for future employment opportunities. Although the two jobs are similar, blockchain engineers create the underlying infrastructure, while blockchain developers usually concentrate on project execution.

Entry-level blockchain developers in India can expect to make between ₹3 and 4 lakhs per year, while seasoned workers can expect to make between ₹15 and 20 lakhs. This field pays typically between ₹6 and 8 lakhs per year on average.

The Importance of Certification for Blockchain Engineers

The necessity of blockchain engineer certification is becoming increasingly apparent as blockchain engineering gains traction in various industries. A blockchain engineer certification is essential to becoming an expert in the field; it's more than just a formal title. Well-designed blockchain courses give people the information and abilities to succeed in blockchain development.

By enrolling in a blockchain course, aspiring blockchain engineers can become proficient in data structures, cryptography, and programming languages. They also learn how to navigate various blockchain systems, such as federated, private, permissionless, public, and permission. In addition, these courses facilitate the development of creative solutions by providing practical experience with blockchain development tools like MetaMask, Remix, and Truffle. A blockchain engineer certification offers access to extensive knowledge and abilities, enabling people to succeed in blockchain engineering rather than merely verifying proficiency.

Those who set out to learn blockchain technology through credible certification programs position themselves at the forefront of this industry revolution as blockchain technology continues to upend established paradigms. With the skills and information necessary to spur innovation and influence the direction of the digital world, they are prepared and eager to start a fulfilling career as blockchain engineers.

In summary, blockchain engineers are innovators transforming sectors with their knowledge and are crucial in advancing the digital revolution. The future looks promising for blockchain technologists as the need for safe, decentralized solutions grows. Aspiring blockchain engineers can succeed in this industry by acquiring a combination of necessary soft skills and technical expertise, guaranteeing them a lucrative and fulfilling career in the blockchain industry.

Blockchain Council is a reputable platform that offers a variety of Blockchain certifications for individuals wishing to get started in the area or advance their understanding of blockchain technology. The Blockchain Council, comprised of enthusiasts and subject matter experts, is committed to furthering blockchain research and development, investigating diverse applications and products, and encouraging information sharing for a better society. 

Blockchain technology is not just a fad but a quickly developing field with enormous potential for the future. It may be used as a distributed ledger, software, financial network, etc. Businesses are moving toward this game-changing technology, and Blockchain Council offers helpful tools to keep people ahead of this fascinating sector.

[iamkelvinlee]

(Louis Vuitton + Prada Group + Cartier) x #Blockchain.

"LVMH has enlisted a full-time blockchain team who have been in stealth mode for over a year, working closely with ethereum design studio ConsenSys and Microsoft Azure ™. AURA has been built using a permissioned version of the ethereum blockchain called Quorum, which is focused on data privacy and was developed by J.P. Morgan." https://lnkd.in/ekvFhja

[smartcryptosolution]

Introduction to Blockchain Technology

All of the above factors can be executed appropriately with the help of the best cryptocurrency software development company in India and USA.

Imagine a world without computer databases. There would be no e-commerce, no ATMs, no Internet banking, no Facebook, no Gmail, no WhatsApp! Almost everything that makes the web so powerful and useful depends upon computer databases.

The digital world relies very heavily on computer databases, even if most users are unaware of it. Now imagine a database that's probably immutable/unchangeable and almost impossible to hack. That’s a blockchain is an ordered and time-stamped sequence of “blocks of information”.

A Blockchain technology was devised by the unknown inventor of the bitcoin crypto-currency in 2008. Simply put, the bitcoin crypto-currency runs on the bitcoin blockchain — a public blockchain where anyone can become a miner and details of each single bitcoin transaction are stored on each node.

Blockchain is an innovative mixture of decades-old, tried and tested technologies including Public key cryptography (1970s), Proof-of-Work (1990s) and Cryptographic hash functions (1970s).

Over a previous couple of years, many derivative projects (e.g. ethereum, multichain) and blockchain-inspired distributed ledger systems (e.g. BigchainDB, Corda, Hyperledger Burrow / Fabric / Sawtooth, Quorum) are created.

Blockchains are provably immutable and enable the rapid transfer and exchange of crypto-tokens without the requirement for separate settlement, clearing & reconciliation.

Blockchain solutions may be permissioned (e.g. a Government-run land registry) or permission-less (e.g. Bitcoin, where anyone can become a miner). Blockchain solutions may be private (e.g. a contract management system implemented in an exceedingly pharmaceutical company), public (e.g. an asset-backed cryptocurrency) or hybrid (e.g. a bunch of banks running a shared KYC platform).

Blockchains can handle data authentication & verification all right. This includes immutable storage (data stored on a blockchain can't be changed or deleted), digital signatures and encryption. Data in almost any format is often stored within the blockchain.

Blockchains can create public-private key pairs and even be used for generating and verifying digital signatures.

Blockchains can handle smart asset management all right. This includes issuance, payment, exchange, escrow, and retirement of smart assets. A smart/crypto asset is that the tokenized version of a real-world asset e.g. gold, silver, oil and land.

Blockchains don't have one point of control or a single point of failure.

For organizations, blockchain technology can minimize fraud; accelerate information and money flow; greatly improve audibility and streamline processes.

The original blockchain used proof of work as a consensus mechanism. But today multiple distributed ledger systems provide several consensus mechanisms such as Proof of stake, Deposit based consensus, Byzantine fault-tolerant, Proof of time, Federated Byzantine Agreement, Derived PBFT, Simplified Byzantine Fault Tolerance, Redundant Byzantine Fault Tolerance, Federated consensus, Round-Robin and Delegated Proof of Stake.

One method of providing privacy on a blockchain is the separation of concerns, during which data is distributed only to the relevant parties of a transaction. Optionally, the hash of the info is broadcast to all or any of the nodes. This method is employed in Corda, Quorum, and Hyperledger Fabric.

Another method of providing privacy on a blockchain involves the broadcasting of encrypted data across the entire network.

[bitsnblocks]

Discussing Quorum Blockchain Basics

Discussing Quorum Blockchain Basics

Quorum blockchain is in limelight for past some time and this is how I was prompted to learn quorum blockchain basics and read about quorum blockchain guides on the internet. I am trying to share my quorum blockchain learning experiences here.

This article may be considered as a part of quorum blockchain tutorial but it is not a quorum blockchain ultimate guide.

Recently, there were news that…

[odeybit]

First Singapore Bank Joins JPMorgan’s Blockchain Payments Initiative

First Singapore Bank Joins JPMorgan’s Blockchain Payments Initiative

JPMorgan’s blockchain payments platform has just onboarded its first Singapore-based bank.

With the addition of OCBC – the second-largest bank in Southeast Asia by assets – JPMorgan’s Interbank Information Network (IIN) now has around 345 banking members across the globe. Roughly 40 percent of those are from the Asia-Pacific region.

Built on Quorum,  a permissioned blockchain based on ethereum…

[theterragreen]

Cryptocurrency for Climate Change

Many of us are aware of the current situation of our beloved planet earth and of that global warming is one of the serious issues since from the start. Science and technology have helped both ways in the degradation of our planet earth as well as in a positive way too.

In this blog we are going to talk about Cryptocurrency and does it result in climate change or not? I

am very sure that most of us are still unaware of the term Cryptocurrency or maybe few of us already know about it. Let’s clear what it actually is and know its pros and cons.

What is Cryptocurrency? In simple words, Cryptocurrency is a virtual or digital currency that takes help of cryptography for security. The whole cryptocurrency process works most importantly on blockchain technology. The most famous cryptocurrency is Bitcoin which was the first blockchain based cryptocurrency introduced. As of now, there are thousands of alternatives of Bitcoins also known as “altcoins” working in the world. Of them, the most familiar are Ethereum, EOS, and Cardano all of these holds the aggregate value of over $120 billion. Bitcoin holds 50% of all.

Cryptocurrency doesn’t have any centralized authority for controlling the transactions. Each cryptocurrency functions through distributed ledger technology, usually a blockchain that serves as a public financial transaction database.

This whole process and as per the future need, it requires a huge amount of electricity, which is why many types of research have been conducted in the past on bitcoin. As per the researches, it was concluded that due to the use of high level of electricity in the bitcoin it has resulted in climate change. As soon as this research was claimed steps were taken by many cryptocurrencies in order to save our planet earth.

What possible steps are taken or can be taken? After this whole scenario, the possible steps that are taken are the use of renewable energy instead of fossil fuel energy. It’s right the cryptocurrencies can use solar energy or windmill energy in order to produce a large amount of electricity. Few have already started and few have also opted for thermal power plant projects in order to save the planet earth from serious issues like global warming.

Do you know blockchain technology can fight climate change? Blockchain technology is one of the important parts of cryptocurrency without which the cryptocurrencies wouldn’t be able to perform at all. Bitcoin was the first to introduce this technology to the world and no doubt it is famous.

Now you might be wondering how blockchain technology is going to help us against climate change? Well, Humans with the help of science and technology have served and helped the world in various ways. Blockchain technology might not be familiar to many of us still but you won’t believe that it has already taken into consideration in many European countries already.

Let’s study in depth more than how this technology which is used as a list of records in the cryptocurrency can help us fighting the climate change.

Blockchain Technology. Blockchain was invented by the founder of bitcoin in 2008 in order to serve as the public transaction ledger of the cryptocurrency bitcoin. Blockchain plays an important role in the formation of digital currency that works without any central server or trusted authority. The primary use of this technology is to record transactions or as a distributed ledger for cryptocurrencies.

There are three types of blockchains.

• Public Blockchains

As per the name, it suggests that it is a blockchain that is open source and the public to all where no one is in charge. There is no rights or access management done for a public blockchain and anyone can be a part of the consensus. The most common examples of public blockchains are bitcoin and Litecoin.

• Private Blockchains

Goes with its phrase private this blockchain is opposite of the public blockchain. It is because every function that is open for all on a public blockchain aren’t open here to all. The best example of this private blockchain is Bank chain.

• Consortium Blockchain

Consortium blockchain differs from their counterparts public blockchains in that they are permission, but not just anyone with an internet connection could get access to a consortium blockchain. Hence, they are also known as semi-decentralized. Cryptocurrencies like Quorum and Corda are best examples of Consortium Blockchain.

After reading the above paragraphs I am sure that you are aware of this blockchain technology is, Now let’s know how does blockchain technology help fight against climate change?

While the UN Climate Change Conference, a lot of attention was put to the blockchain. Mostly for the protection of the data as it is regularly verified by its user and it’s a distributed database. Every information in the blockchain is kept on multiple blocks or servers. It is impossible to make a change in one block without others. Thus, it makes it being used by multiple parties, but with solid protection. All these pros make blockchain very useful in climate change tackling.

Where it can be applied? The most noticeable and important thing about blockchain was its provision of transparency. Which makes it easier for different parties and structure trading data to perform. This information will help to discover waste quotas and find a way to cut them.

With blockchain, we can avoid some energy trading drawbacks. The system can make certification processes easy and make small trades possible. Energy producers will get a chance to set their own value despite big corporations. Experts conclude blockchain can put green power in the hands of consumers. And already we have an interesting example.

The Netherlands, as an example, is operating on a new European Waste Transportation. This whole new operation is using blockchain technology. The supervisor of waste transportation in the EU is going to apply this process. Blockchain system will promise real-time control for all government companies and bodies. Also, it can free up human resources for more disputed tasks.

Conclusion. From all the above words and facts, we can conclude that, although the use of cryptocurrency has proved harmful for our climate, we can also help it in many ways. Blockchain technology which is an important part of cryptocurrency can help in fighting against climate change.

[deb-markethive]

Binance Research: JPM Coin Unlikely to Directly Compete With Ripple's XRP for Now

New Post has been published on http://blog.hodlthrive.com/?p=202

Binance Research: JPM Coin Unlikely to Directly Compete With Ripple's XRP for Now

Binance Research: JPM Coin Unlikely to Directly Compete With Ripple's XRP, for Now

                                 The research arm of top crypto exchange Binance

has published an analysis of JPMorgan Chase’s newly announced stablecoin, arguing that the digital coin brings “minimal direct competition” to Ripple's XRP token in the near term. The study was published on March 1 by Binance Research. As Cointelegraph has reported, JPMorgan Chase announced the forthcoming launch of its new blockchain settlement offering in mid-February: a stablecoin dubbed JPM Coin, to be backed 1:1 by the bank’s USD reserves.

As Binance Research notes, the JPM Coin pilot project will initially focus on settlement and value transfer between financial institutions and is to be issued on the private, permissioned Quorum blockchain network — a fork of the public Ethereum (ETH) blockchain. In terms of inter-bank settlement, JPM Coin is also purportedly for now unlikely to directly compete with Ripple's XRP token — given the latter’s ambition to serve as a multi-bank “mediator currency between both fiat / crypto currencies and any fiduciary product,” as opposed to JPM Coin’s currently closed network solution.

Taking stock of the bank’s vast global client base and $2.6 trillion balance sheet, Binance Research suggests that JPM Coin “could make the institution the largest stablecoin issuer on a blockchain measured by circulating supply and total market cap.” The coin, the study continues, is poised to become a potential “precursor to the third generation of stablecoins,” which will target the world of traditional finance and aim to serve particular purposes and business use cases by means of private blockchain-powered tokens. In the study’s schema, the first generation was spearheaded by stalwart coin Tether (USDT), later followed by a steady stream of “second generation” new stablecoins over the course of 2018. According to the study, while JPM Coin may have significant material impact in improving the cost and time  efficiency of traditional financial services, the study continues, its implications for the public stablecoin market will in the short term

be minimal:

“Large banks and financial institutions […] have a distinct set of advantages in issuing fiat-collateralized stablecoins, but these offerings will not displace liquid, publicly traded stablecoins in the near-term given their closed ecosystems built on private blockchains.”

Moreover, as a proprietary and centralized network, JPM Coin is unlikely to be tapped by competitors in the banking sectors, who may well release their own native crypto tokens in future, the study contends. As reported, JPMorgan Chase CEO Jamie Dimon this week suggested that JPM Coin could eventually find consumer use and evolve beyond internal use cases. Stablecoin innovation continues to gain global traction — with banking titans such as Japan’s Mizuho Financial Group and Mitsubishi UFJ Financial Group both set to launch their own yen-pegged tokens. Meanwhile, unconfirmed reports suggest that Facebook is also developing its own fiat-collateralized crypto, to be integrated into its messaging services.

Article Produced By Marie Huillet

Marie Huillet is an independent filmmaker, with a background in journalism and publishing. Nomadic by nature, she’s lived in five different countries this decade. She’s fascinated by Blockchain technologies’ potential to reshape all aspects of our lives.

https://cointelegraph.com/news/binance-research-jpm-coin-unlikely-to-directly-compete-with-ripples-xrp-for-now

Deb Williams (hodlthrive)

[bitcofun]

Blockchain-based options are changing how organizations and companies from various fields perform their organizations. From September 2021 to June 2022, the blockchain sector has actually gotten over $6 billion from around 40 top-tier business like BlackRock, Alphabet, Morgan Stanley and Goldman Sach. This plainly describes the faith of business and organizations in blockchain innovation and Web3 regardless of the bearishness. According to an August research study from Blockdata, 44 out of the top 100 public business internationally are utilizing blockchain innovation. These are business from Tech, media and telecom, customer and retail, health care, financing and more markets. With a lot space to grow, designers may feel overloaded when selecting a trustworthy blockchain platform for their organization. The next list makes up the leading business blockchain platforms resolving discomfort points in various markets and increasing Web3 adoption. 1. Ethereum Ethereum is a decentralized blockchain environment for negotiating cryptocurrency coins and tokens and producing decentralized applications (DApps) utilizing the platform's clever agreements. Ethereum's open-source facilities has actually enabled different companies, organizations, and business from all sectors to develop enterprise-grade blockchain applications for their services. A few of them utilize Ethereum-based platforms. Ethereum Enterprise Alliance is the company that supports and spreads out using Ethereum as a blockchain service to business. Some examples of Ethereum-based applications for companies are financial investment bank JP Morgan, which utilized Quorum, a personal Ethereum version for business to introduce the JPM Coin; and Microsoft, which utilized the Ethereum blockchain to produce an anti-piracy software application system called Argus. 2. Hyperledger Fabric Hyperledger Fabric is a blockchain structure developed by the Hyperledger Foundation. Enterprises can utilize this structure to develop permissioned (personal) networks with completely adjustable specifications. These applications are integrated in a modular, general-purpose facilities to utilize throughout various fields, such as supply chain, electronic banking, payment systems, and so on Hyperledger Fabric's network is made up of various members, comparable to network nodes. These members are companies like banks, banks, and other companies that carry out various jobs and can interact with each other 3. Alchemy Alchemy is a blockchain advancement platform that provides a diverse item suite that can be utilized throughout several blockchain networks, consisting of layer-1s like Ethereum, Solana, and Flow, and scaling services like Polygon, Arbitrum, and Optimism. Alchemy enables customers from Web2 to Web3 to develop or link their apps, such as crypto wallets, NFT jobs, and DeFi, to these blockchain communities and scale their companies. Alchemy streamlines the advancement procedure with the Alchemy SKD (Software Development Kit). 4. Outstanding Lumens Stellar Lumens is a layer-1 platform mostly created to offer monetary applications to designers, start-ups, and organizations. These apps can be utilized for property issuance, electronic banking, cross-border payments, remittances, CBDCs, and more. The Stellar network is governed by its neighborhood of XLM holders. All deals on the network are paid with XLM, and users can trade it along with other coins or tokens in the platform's decentralized exchange (DEX). Stellar Lumens permits organizations to develop digital representations of fiat currencies, like Argentine pesos or dollars, and negotiate them with their customers or organizations. These properties are exchangeable for conventional cash, as each token is backed by a comparable deposit. It supplies comprehensive documents and SDKs to assist designers develop decentralized applications. Designers can likewise request assistance and discuss their jobs in the Stellar Community Forum.

5. Avalanche Avalanche is a high-performance layer-1s in the DeFi sector. Its blockchain is made up of 3 various subnets that enable it to scale and improve its throughput to countless deals per second. Avalanche enables start-ups, organizations, and companies to develop and construct blockchain applications utilizing advancement tools, completely tailor their DApps or develop personal subnets within the Avalanche environment. Other functions are possession issuance, CBDCs, digital identity, and file tracking. 6. Polygon Polygon is an Ethereum layer-2 option that has actually been working carefully with companies of all kinds, from wearables and style brand names to payment processors and social networks platforms. Polygon acquires Ethereum's security parts, however it's much more scalable, quick, and cost-effective. This is the reason that a number of business are utilizing Polygon to improve their apps or develop brand-new systems on top of its blockchain. Instagram is utilizing Polygon to permit users to display NFTs on its platform. Payment processor and SaaS business Stripe leverages Polygon's blockchain to permit freelancers, material developers, and provider to pay in crypto. Adidas and Prada have actually introduced their NFTs collections utilizing the Layer-2. 7. Fantom Fantom is an Ethereum and Binance Smart Chain (BSC)- suitable blockchain that provides high-speed deals at a low expense and the tools to construct blockchain applications on its platform. Fantom provides business blockchain services around its consensus-as-a-service, permitting customers to develop public or personal blockchains with their own criteria and can be used to various usage cases. 8. Ripple Ripple is an open-source payment settlement platform for cross-border deals, remittances, and releasing CBDCs, developed in 2012 by Jed McCaleb and Chris Larsen. Ripple's core structure is comprised of a Merkle tree. This system secures blockchain information in private branches, permitting anybody to see particular deals without needing to download the whole tree information. Ripple's business options have actually been leveraged by lots of banks worldwide, consisting of Bank of America, SBI Remit, Novatti, and Banco Rendimiento. 9. Cardano-- Enterprise Cardano is a blockchain platform established by Input Output (IOHK) and integrates wise agreement programmability for various usage cases. Cardano Enterprise is Cardano's institutional-grade platform offering blockchain items to personal and public entities throughout various fields, consisting of universities, retail, farming, federal government, financing, and health care. One of its flagship items is Atala PRISM, a self-sovereign identity (SSI) system constructed on Cardano. It uses decentralized identifiers (DIDs) to protect IDs and qualifications on the blockchain and enables people to quickly share their information and accomplishments within their particular companies, whether it be universities, banks, or federal governments For farming, health care, producers, and other essential gamers in the supply chain market, Cardano provides Atala Scan, a supply chain tracking system that can validate the quality, history, and provenance of products utilizing "wise seal," a sort of label including a near-field interaction (NFC) chip, and little sufficient to be integrated in bottle caps.10 Tezos Tezos is a blockchain platform enabling Web2 business to utilize blockchain innovation throughout all fields, consisting of NFTs, DeFi, CBDCs, cross-border payments, and payment systems. Tezos has actually been a crucial gamer in speeding up cryptocurrency and blockchain innovation to the traditional world. Its collaborations and case research studies list consists of McLaren, Manchester United, Red Bull, and Misfits Gaming. In 2020, Societe Generale, a French international banks, utilizes the Tezos blockchain to release a CBDC for interbank settlements. By 2021, Tezos partnered with video game publisher Ubisoft to present NFTs to Tom Clancy's Ghost Recon Breakpoint.

This was the very first time a significant computer game business transitioned into Web3. Final Thoughts: Blockchain for Enterprises These business blockchain platforms are providing ingenious methods to resolve decades-long discomfort points throughout various markets, and have differing network expenses. Other blockchain platforms have a various focus: to bring Web2 platforms like social networks business into Web3, providing huge chances throughout DeFi, NFTs, and more for their companies and applications. However, Web3 is still in its infancy with a lot of experimentation. Whatever it is, the quantity of cash put into these blockchain-based services is testimony to the faith lots of organizations and business have in this innovation. Never Miss Another Opportunity! Get hand chosen news & & details from our Crypto Experts so you can make informed, notified choices that straight impact your crypto revenues. Subscribe to CoinCentral complimentary newsletter now. Read More

[innosoft]

Why is the Ethereum Blockchain Beneficial for Business?

Ethereum is a decentralized blockchain platform that creates a peer-to-peer network for safely executing and verifying application code, or "smart contracts," also known as smart contracts. Smart contracts enable participant-to-participant transactions without the need for a reliable central authority. Due to the immutable, verifiable, and secure dissemination of transaction records throughout the network, participants have full ownership and visibility over transaction data. Ethereum transactions are sent and received by user-created accounts. As part of the network's transaction processing fees, senders must sign transactions and use Ether, Ethereum's native coin.

What are the needs of the Business?

On a peer-to-peer network, businesses have vastly different needs than individual consumers. Regardless of whether they are providing IDs, carrying out trades, tracking shipping containers, or labeling pharmaceutical products, businesses must manage sensitive data in high volume, monitor quality, and hold themselves accountable to the safety and regulatory standards in their respective industries. For a high-performance company, security, certainty, and accountability at scale are essential. A business or start-up can leverage the services of an Ethereum Blockchain Development Company for setting up the best blockchain for their organization.  Enterprise requirements can be divided into four groups:

Privacy. 

Depending on the participants' roles, certain transaction data, such as product name, amount, price, address, personally identifiable financial information, etc., should either be hidden from or made available to them. For instance, a freight forwarder might just need to be aware of the arrival of a container rather than its contents. Access to transaction data is likewise restricted by banking laws.

Performance

A company's infrastructure must be able to handle thousands of transactions per second and endure sporadic spikes in network activity. A series of transactional events are started by, say, a sales order with 1,000 lines. Enterprises must be able to gather, validate, and publish an ever-increasing volume of varied transactions in today's networked economies.

Finality

Institutions moving significant sums of money want assurance regarding the results of transactions. Payments must be final and funds must be in good standing.

Permissions

Enterprise use cases frequently demand that various participants have varied read, access, and write roles and that only authorized parties can join the network.

Benefits of Ethereum Blockchain for Business

The characteristics of Ethereum include being open, free of charge, adaptable, and suitable for multiparty collaboration. While Ethereum performs similarly to a distributed ledger in terms of data coordination, its architecture also includes special layers that both support and expand the capabilities of commercial systems.

-Synchronization of Data 

The decentralized architecture of Ethereum better distributes knowledge and trust so that network users are not dependent on a central authority to run the system and mediate transactions.

-Deploy quickly

An organization may quickly build and administer private blockchain networks with an all-in-one SaaS platform rather than coding a blockchain implementation from scratch.

-Licensed networks 

Businesses can build on either public or private Ethereum networks thanks to the open-source ConsenSys Quorum protocol layer, which guarantees that your solution complies with all applicable security and regulatory requirements.

-A network's size 

The Ethereum main net demonstrates that a network with millions of users and hundreds of nodes can function. The majority of enterprise blockchain rivals are only operating networks with fewer than 10 nodes, and therefore lack a reference case for a sizable and functional network. For enterprise consortiums that will inevitably outgrow a small number of nodes, network size is crucial.

-Private exchanges

By creating private consortia with private transaction layers, businesses can increase the privacy granularity in Ethereum. Private information is never broadcast to network users on ConsenSys Quorum. Only those parties who need to see private information are given direct access.

-Scalability and effectiveness Based on network setup, consortium networks built on Ethereum can grow up to hundreds of transactions per second or more and outperform the public mainnet thanks to Proof of Authority consensus, custom block time, and gas limit. Scaling techniques at the protocol level, such as sharding and off-chain, as well as layer 2 techniques, such as Plasma and state channels, provide Ethereum the chance to soon boost its throughput.

-Finality 

The consensus method of a blockchain ensures trust that the transaction log is canonical and tamper-proof. For various enterprise network instances, Ethereum offers customizable consensus techniques like RAFT and IBFT, providing immediate transaction finality and lowering the necessary infrastructure that the Proof of Work algorithm requires.

-Layer of incentives 

With the help of Ethereum's crypto-economic layers, business networks can design mechanisms to deter bad behavior and reward actions like availability and verification.

-Tokenization

Any asset that has been recorded digitally by a business can be tokenized on Ethereum. Organizations can diversify their product lines, create new incentive models, and fractionalize once monolithic assets (like real estate) by tokenizing their assets (crowdsourced data management).

-Standards

The industry standards are on Ethereum. The ecosystem is prevented from fragmenting through protocols for token design (ERC20), human-readable names (ENS), decentralized storage (Swarm), and decentralized messaging (Whisper). The Enterprise Ethereum Alliance's Client Specification 1.0 lays out the structural elements for enterprise blockchain implementations that comply with its requirements. The EEA intends to publish version 2.0 of the specification soon.

-Open Source and Compatibility 

On Ethereum, consortiums are not confined to the IT infrastructure of a single vendor. Customers of Amazon Web Services, for instance, can run private networks using the Blockchain Business Cloud from Kaleido. The Ethereum ecosystem welcomes improvements to the codebase through Ethereum Improvement Proposals, similar to the Java community's spec-driven methodology (EIPs).

The Bottom line

Blockchains have the potential to significantly enhance corporate processes or even open the door to brand-new industries. In each instance, the fundamental characteristic that distinguishes blockchains from other types of technology is that they offer certainty about what will occur in the future: asset ownership, payments, and other business transactions will adhere to pre-established rules, and the system's rules and data are extremely resilient to change by outside forces. 

To attain such predictability in the past, businesses generally relied on institutions like laws, contracts, and courts, but blockchains can do it more effectively, quicker, and more cheaply. So, Ethereum Blockchain can help in many ways to get your business up to the next level. Looking for the best Ethereum Blockchain developers? Here’s your best bet. Hire Blockchain Developers at Innosoft and get your business growing with the advanced technology of today - Ethereum Blockchain.

[sbelhadj]

Blockchain From Concept to Execution: With 10 Blockchains, 3 DLTs, 182 MCQs, 70 Diagrams & Many Sample Codes

Blockchain From Concept to Execution: With 10 Blockchains, 3 DLTs, 182 MCQs, 70 Diagrams & Many Sample Codes

Encyclopedia on Blockchain for beginners and experts alike Key Features ● Includes the basics of Blockchain ● Comparative study of public Blockchains (Ethereum, Hashgraph, Cardano, Algorand, Solana etc.) ● Comparison of interoperable Blockchains (Polkadot vs. Cosmos vs. Polygon). ● Comparison of private permissioned DLTs (Fabric vs. R3 Corda vs. Quorum). ● Comparison of R3 Corda opensource and…

[talentica]

Top 5 smart contract platforms

Future businesses will all rely on smart contracts. These programs are known to automate processes and lower money, energy, and time usage. Amazingly, they have already started making their presence felt. But, how can you create them? What are the best platforms for smart contracts? At present, the best smart contract platforms are Ethereum, Quorum, Hyperledger Burrow, Hyperledger Fabric, and Open Transactions. These are some amazing choices available for those seeking recommendations, but what you should really research is which platform is suitable to meet your particular requirements. That’s where things may get troubled. Genuinely, the selection depends on your requirement and whether you are ready to compromise or not.

Below here is a list of smart contract platforms and the languages they support. Ethereum and Burrow support a higher number of languages in comparison to the other platforms, thereby providing more flexibility.

Ethereum and Hyperledger Burrow support LLL, Mutan, Solidity, Vipe as well as Serpent.

Quorum supports Solidity

Open Transactions support ChainScript

Ethereum

It is an open-source, blockchain-reliant computing system. The node of the blockchain stores smart contracts. At present, it is one of the most renowned platforms to write smart contracts. Some of the benefits of using Ethereum are:

It is a well-developed solution and the most convenient to use.

There is no need for third parties to offer contract functionality.

A big community renders assistance to the blockchain ecosystem.

At present, Ethereum is using POW (proof-of-work) consensus and is not recommended to create a permissioned environment. Some POCs (proofs-of-concept) make use of the Ethereum testnet function for a private function, but it isn’t as convenient as the other platforms mentioned here.

Hyperledger Burrow

It is a permission-reliant, smart contract blockchains system developed by Monax. It is written in a top-level smart contracts language Solidityand offers several benefits:

Easy execution and tooling.

EVM (Ethereum Virtual Machine) to render security and run untrusted code worldwide.

Permissioned smart contracts along with permissioned hyperledger blockchain.

It makes use of proof-of-stake Tendermint just like Hyperledger Fabric.

Hyperledger Fabric

It is a blockchain structure developed by IBM and Digital Asset. It provides platforms to share private data, endorses policies for transactions, and runs smart contracts. It offers several benefits like:

Permissioned membership to give distinct identities to all participants.

Scalable, safe and modular base to ease blockchain transactions.

Simple architecture to allow developers to use their chosen implementations.

Hyperledger Fabric supports varied consensus algorithms that can be used in its three different phases.

Open Transactions

It is a crypto and virtual cash program library allowing users to issue and handle virtual assets and make new ones. In comparison to Hyperledger Fabric and Hyperledger Burrow, it is a non-chain framework meant to deal with asset management. It offers several benefits:

Easy implementation with assets that are the same as a typical banking system.

Digital asset management

The platform isn’t feasible for permissioned environments because the transactions are completed through third parties.

Quorum

It is an enterprise version of the ETH blockchain platform. Quorum is recommended for an app that needs high speed and good all-through processing of transactions within a permissioned segment of known people. It addresses challenges to blockchain technology adoption in the fiscal industries. It offers benefits like:

Heavy-performance from simple consensus functionality.

High contract privacy

Permissioned membership and better data protection.

Quorum makes use of several voting-reliant consensus mechanisms.

Smart contract platforms are on the rise, and the top 5 that we have highlighted above are some of the best in the world, these can be used to create a range of different smart contract ecosystems, and they also have a number of unique features which all make them unique in their own way. Smart contract platforms are set to play a big role in the future, and we hope that you are able to find one that suits your needs.

[charteredaccountantjanakpuri]

Blockchain- Beyond Cryptocurrency

Blockchain is a topic that is the most popular among the crowd at the moment. It's a topic that is disruptive, accelerating and that may be your elevator pitch. Let's have a bird-eye view on this.

Imagine yourself as a bird flying high in the sky, and down you observes that the world is divided into blocks, blocks of massive information. But how can this information work for good if there is no common link between them? Here is the point when the word "Chain" comes into the picture.

Blockchain is the most talked-about form of distributed ledger technology. It works on decentralized & distributed ledger technology that stores transactional records in blocks, and it is accessed by the participants globally over the network. Every time a transaction takes place, a block is formed, which further develops a chain. It creates an irrevocable record of transactions that could not be undone. Blockchain organizes a peer-to-peer network that provides participants with a platform to communicate among themselves over the web & increases confidence, security, transparency, and the traceability of data shared over a network and delivers cost savings with new efficiencies.

Blockchain will gain you an edge as it is an open-source ledger; every transaction made is public, which leaves no room for fraud. The integrity is monitored by minors who have their eyes on all the transactions; hence it is more secure. It is responsible for keeping a record of all the transactions that cannot be revoked or manipulated. The user public can view transactions data at any point. This makes online transactions even more secure. Blockchain solutions can offer a speed of 100 to 10,000 transactions per second, hence saving your time.

But to implement this technology, you need to take care of a few critical things, such as the application must be updated on both ends of the P2P network. If any end doesn't accept the amendments, technology will fail. If you plan to have business applications, then they must have some business logic behind them. This logic specifies how applications will perform within the sphere of business needs. By nature, blockchain uses more stringent logic that won't allow you to redesign without leading to the need for logical business changes to be acceptable to the blockchain solution. Now, blockchain is a complex set of protocols that require a big brain to solve Hyperledger, multichain, Corda, quorum theorems which one can't manage at the sole level; hence enrising the need to involve some third party help to add new features and expand the application without redeployment of the network.

Types of Blockchains: Deciding which one is better for your business.

The most basic function of this technology is to carry out transactions or exchange of information through a secure network. But the way people use blockchain varies from case to case. For instance, if we talk about Stock Market/Crypto, the reason blockchain got hyped into the scenario. Shares are digital holding certificates that get traded through blockchain technology. It is a type of blockchain in the nature of a public network giving the right to people from all over the world to become a node, verify other nodes and trade shares.

On the other hand, let us take an example of a bank using a private blockchain network. It is a restricted network where only concerned persons/employees of the bank can access confidential information. Thus, anyone out of this closed network can not gain access to the bank database. A private network is more bound to have only authorized nodes that a network admin must initially monitor. The information transmission through a private blockchain remains within the network. Any new node that wishes to become a part of a private network needs permission from the network admin. The bank decides the scale of their private blockchain for all their branches in a country.

Another famous type of blockchain that exists is Hybrid Blockchain. Some information can be circulated in a private blockchain network, and some parts can be mutually agreed to flow in a public blockchain network. The hybrid blockchain is so flexible that users can quickly join a private blockchain with multiple public blockchains. A transaction in a private part of a hybrid blockchain is usually authenticated within that network. But users can also shoot it in the public blockchain to get verified. The public blockchains increase the hashing and involve more nodes for verification, which enhances the security and transparency of the blockchain network.

Worry not with Blockchain Technology

Each block holds a unique hash number and a key link that connects it to the previous & next block in a blockchain. The blocks cannot be altered. If there is any replacement, the hash sum would be altered, and the block would longer be valid, which further will lead to invalidation of the whole chain as each block is interconnected with the previous & the next one.

Your all transactions are secured by cryptography. Each block contains a unique and private key that can be verified with a public key. If there is any change in transaction data, the block's unique key becomes invalid. As a result, the block is dismantled from the chain, again remembering each block of the chain is interconnected.

The security of blockchain also depends on its decentralized and distributed nature. Failure is never at any single point as every block is interlinked, making it much harder to corrupt, thus making it invulnerable. Hacking into any one part of the system cannot affect other parts. However, in the case of a private blockchain, this advantage is partially lost as they have a single point of control and a limited number of nodes. This restricts users from making changes to the ledger. Organizations operate these kinds of blockchains for their internal use, allowing the company to control its processes.

There is no principal body to authenticate and verify the transactions, yet every transaction in the blockchain is presumed to be completely secured and verified. It is because of the presence of the consensus protocol on which blockchain works.

A consensus algorithm is a process through which all the peers in the blockchain reach a mutually predecided agreement about the present state of the distributed ledger. In this way, consensus achieves reliability in the Blockchain network and establish trust between peers in a distributed network. Most importantly, the consensus protocol verifies whether the new block that is added to the blockchain is the sole version of the truth agreed upon by all the nodes in the blockchain.

To sum up, the blockchain is a peer-to-peer framework that offers the potential to transform current business processes by disintermediating central processes, thus improving efficiencies and creating an immutable trail of transactions. This provides the opportunity to reduce costs, interaction times and improve transparency for all the users. This transformational framework could change the way financial institutions conduct business as many transactions are peer to peer in nature.

While the benefits are in front, there are many risks that may be imposed by this nascent technology. Understanding of blockchain technology and its associated risks may evolve as this technology endures to mature. It’s therefore imperative for all organizations to continuously monitor for the scope of development in this technology and its application to various cases.

Blockchain technology contains the potential to reengineer business models from a human-oriented model to an algorithm oriented model, which might expose businesses to risks that they have not encountered before. In order to react to such risks, businesses should consider establishing a robust risk management strategy, governance, and controls framework.

Future Of Blockchain

 Blockchain is already picking up the pace, here are examples of successful blockchain projects:

Helium is a decentralized wireless infrastructure. The network allows everyone worldwide to connect to the infrastructure wirelessly without having any expensive data plan. By using their plug-and-play hotspots, anyone from anywhere can join the Helium network.

 Forward Protocol is a decentralized knowledge protocol that emancipates education by rewarding the users with the “earn well, learn well” model. It incentives students for completing a course and provide royalties to teachers when their students finish a project. The protocol aims to link job seekers with the vacancies such as Monster, Upwork, and Fiverr.

 Theta TV is a decentralized video streaming network that allows us to watch content, earn virtual currency and give total administration to the content maker. Many YouTubers are also publishing videos on Theta since they can get 100% of the profit generated.

 Future of Blockchain in Accounting

 In the long run, Blockchain proves to be a disruptive technology for accounting like digital photography disrupted the conventional film photography, pagers & land-line phones were utterly disrupted by mobile phones. 

 Blockchain is a multi-faced technology that also plays the role of accounting technology, which helps with the transfer of ownership of assets and maintaining a ledger with accurate financial figures. Implementation of blockchain assists in increasing the potential of the accounting profession by reducing the cost of maintaining and reconciling ledgers. This strength may be a threat to accountants as automation in reconciliations cut the work of accountants. But, Blockchain empowers the accountants that assets exist with proven authenticity.

 We have always come across double-entry bookkeeping when talking about accounting, but Blockchain works on triple entry bookkeeping. Now it will be, with Blockchain, each transaction will be recorded by the third party/all blocks, and the third party/block verifies each transaction (Cryptographically), and a receipt will be issued. What will be the outcome of the same? Every transaction will be simultaneously recorded in the books of a third party to be verified by the Blockchain. As the transactions are entered in three places, and hence called as Triple entry system.

 How will it change the attitude of Accountants towards the work? Well, Blockchain proves to be disruptive, but when coming to betterment, it has its gain over in the following manner:

 Accountants are experts in recording, bookkeeping,application of taxation and related rules, with theBlockchain Technology; they get opportunities to becomeBlockchain advisors and can join the blockchain network.

 Accountants can spend less time on identifying errorsand mistakes and reconciliation work; instead, they canconcentrate on areas like technical knowhow, advisory and related activities.

 To conclude, while the landscape for Blockchain technology is still in its infancy, its potential is transformational. Blockchain protocol offers the greatest opportunities for change in various accounting mechanisms and creates a new platform to reshapethe world of business and transform the accounting and auditing profession. Its potential disruption in theaccounting industry cannot be overlooked. Various past developments, such as the emergence of computers, ERPsystems, and cloud computing, have just changed theauditors’ work instead of making them irrelevant. Auditorswill need to develop a more data-centric approach anduse it with a forward rather than historical perspective.In this way, the auditors will be able to provide a veryhigher-valued service. Firms adopting new technologies pretty earlythat account for these potential disruptions will be better off in the long run. 

 Authored by Himanshu Sharma & assisted by Simar DS

For any queries or suggestions, reach at info@manishanilgupta.com

Source: https://www.manishanilgupta.com/blog-details/blockchain-beyond-cryptocurrency

[aliciaadley900]

The Top Blockchain Developer Frameworks for 2021

When apps are developed using blockchain technology, the development process is sped up. If you want to run a database- and payment-connected website, this is a fantastic choice to consider. Because of the blockchain's openness and decentralisation, users don't have to worry about their personal information being compromised. App development has been made much easier thanks to the usage of blockchain frameworks.

Ethereum

It was one of the first sites to utilise blockchain technology, as well as being open-source and free. However, it's not only for financial transactions. Anyone may create smart contracts on this platform. Smart contracts enable the exchange of monetary value for property.

As a decentralised version of the internet, Ethereum's public ledger runs on the blockchain network. It is possible for app creators to charge others for utilising their code by using Ethereum on this platform (the Ethereum cryptocurrency). DApps are new kinds of distributed apps that have been coined by the blockchain community.

Hyper ledger

Hyperledger is a corporate blockchain initiative across a wide range of sectors that provides the architecture and tools for building open-source blockchains and the applications that run on them. When it comes to building enterprise-ready permissioned blockchain systems, Hyperledger makes it easy for everyone to become involved.

Since 2015, Hyper Ledger has operated as a decentralised open-source blockchain platform. Modifications to projects and transactions that benefit broader systems are allowed. Access to a certain channel or piece of information may be limited for a specific user.

Quorum

Quorum, JP Morgan's open-source blockchain initiative from 2014, is likewise built on open-source blockchain technology. It lacks the smart contract capabilities of Ethereum. Having a quorum is critical due to the transaction's importance.

A quorum of individuals with a financial interest in the business must be present for a meeting to be legal. It is necessary by law that a majority of the board members be present before any changes may be made.

Corda

For the first time in 2015, a new open-source blockchain technology called Corda became accessible for everyone to use for free. Using smart contracts, you can keep track of anything you do with money. Data security and administration have never been easier thanks to Corda.

An open-source blockchain for business use cases was a key objective of Corda's development. It is possible to build blockchain networks that are both interoperable and safe. Companies may instantly interact and exchange value using Corda's smart contract technology.

Ripple

There is a real-time gross settlement method in Ripple, a cryptocurrency that was introduced in 2012. Everything happens at the speed of light in today's world of cutting-edge technology! Ripple net does not charge any fees for connecting payment providers with digital asset exchanges.

The Ripple Labs ecosystem's native currency is called XRP. When financial intermediaries and banks operate closely together, SWIFT-like networks may be utilised to settle payments and transfer assets. Consider using Ripple as a Bitcoin mining option instead of the current (XRP).

Wrapping up

These are the top blockchain frameworks that are dominating the market currently. If you are also dreaming of a blockchain developer course, Enrol in a blockchain developer course. Having a blockchain classes certification will surely put you ahead in the market.