Blockchain FAQ

What is Ethereum?

What is Ethereum? Ethereum is a blockchain-based distributed computing platform featuring smart contract functionality. It is open-source & public. It is the preferred platform for development of decentralized applications. Ethereum has successfully grabbed mind share of the blockchain community. Ether, the native cryptocurrency in the Ethereum platform, is the second largest cryptocurrency by market cap. …

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Blockchain Tech Trends

Supply Chain is ‘Killer’ Blockchain Use Case

Supply Chain is ‘Killer’ Blockchain Use Case What are the areas where Blockchain technology will be used increasingly? Supply Chain business will be using Blockchain more and more. Blockchain ledgers can help improve the supply chain in three ways: shipment track and trace, inventory management and proving a product is genuine. See https://searcherp.techtarget.com/news/252437502/IDC-says-supply-chain-killer-among-blockchain-use-cases

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Blockchain Tech Trends

Blockchain as your next global ID

Blockchain as your next global ID Did you know about the new world-citizen unique ID – called “ID2020” ? Microsoft and Accenture announced a partnership to use blockchain technology to provide legal identification for 1.1 billion people worldwide, as part of the global public-private partnership ID2020. An individual’s personally identifiable information exists “off chain,” and …

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Blockchain FAQ

Is it true that all blockchains are public?

Is it true that all blockchains are public? Not all blockchains are public but many popular ones are. On a public blockchain, everyone can see all transactions and anyone can participate at all levels. This is not true in private blockchains, See https://www.itproportal.com/features/breaking-down-blockchain-10-common-misconceptions/

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Blockchain FAQ

Are Blockchain & Bitcoin one and the same?

Are Blockchain & Bitcoin one and the same? This is probably the most common fallacy about Blockchain. Bitcoin is the first & most well-known implementation of blockchain technology, Apart from Bitcoin, there are many other blockchain networks. Blockchain is just one of the technologies that underlie the bitcoin protocol upon which the Bitcoin cryptocurrency is …

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Blockchain FAQ

When do you need blockchain?

When do you need blockchain? It is true that you don’t need blockchain per se. But there are some problems whose solution could eventually be a blockchain. Here are a few decision models to decide if you need a blockchain: See https://medium.com/pennblockchain/a-living-list-of-blockchain-resources-5ece5e8cf06

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Blockchain FAQ

How is blockchain going to change the world?

How is blockchain going to change the world? Blockchain technology is expected to continue to grow beyond digital payments. The technology is already being used for smart contracts, which reside on a blockchain and are written in code, that can release funds, communicate information, record and embed data, and make purchases—all in a pre-programmed, autonomous …

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Blockchain FAQ

Why does the blockchain matter? 

Why does the blockchain matter?    Over time, cryptocurrencies like Bitcoin may fade in and out of fashion. The blockchain is intended to provide a tamper-proof record of transaction metadata, regardless of transaction type. Source: https://www.techrepublic.com/article/blockchain-cheat-sheet/

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Blockchain FAQ

What Is Blockchain?

What Is Blockchain? Blockchain is a distributed data store. Anyone who participates in this network has their own data store that stores all of the transactions that ever happened on the network . This is also known as the distributed ledger. Entries are stored within a cryptographic chain of blocks. At every stage, the network …

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Blockchain

Digitized Contracts using Blockchain Technology

Contracts make  interactions between individuals, companies, even nations manageable. However they are verbose and are hard to digitize. Blockchain technology may just be the tool to change all that. With Blockchain technology it is possible to embed contracts, and the terms within them, into digital code. They can then be stored in databases where they …

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