blockchain-application

May 22 2021

Blockchain in Action — 16 Inspirational Examples

If you want to have a decentralized record of digital data accessible by all, then better fix your gaze towards blockchain technology. To break a single word into two, Blockchain has information in which the data (i.e., the block) is deposited inside a communal database (i.e., the chain).
This digital technology is primarily made to rave up banking security, as unsecured parties fail to hack it. However, Blockchain has various applications; you might have heard of them, so below are their names.
1. Bitcoin
Bitcoin is known to be the most prominent application of Blockchain, which is also termed as a cryptocurrency because it is a virtual currency. Things get completely simplified here, as money transferring gets easier because of the absence of intermediaries like banks or administrators.
Similar to Bitcoin, Bitcoin Atom is also a part of it, used for transferring funds in a simplified way with no trading charges and no possibilities of hacks during exchanges.
2. MediLedger
With Blockchain, MediLedger, a pharmaceutical company, has a decentralized network that can record transactions and data to establish worth and improve security.
3. Spotify
A popular name in the music world, Spotify, opted for the procurement of Mediachain Labs and took help from a blockchain development service provider to switch to blockchain technology. This helps them to associate with an artist who has licensed tracks and agreements.
This move has led to more transparent and clear ownership of records. This move also helped the small artist to get proper recognition, which they were denied before.
4. BitGive
BitGive, which also implemented Blockchain technology, has its sole mission to benefit charities worldwide. It has a project that provides transparent data and financial information to donors.
5. Maersk
Maersk and IDM combined to generate a new supportive Blockchain effort known as TradeLens, which is supported by blockchain software development companies and other leading brands.
TradeLens is exclusive for its customized smart-contract services that execute complicated shipping orders, which lowers the presence of mediators in the whole process.
6. Circle
The peer-to-peer payment technology of Circle, which is also termed Circle Pay, is primarily used for buying and selling bitcoins. Circle uses open, Blockchain-based protocols to build products.
7. Aeternity
Another example of Blockchain development can be found in Aeternity. It serves a great role in performing rapid transactions. The brand has adopted several new things like IoV, IoT, FinTech, Unbanked, Video gaming, Trust-free Exchanges, etc.
8. Matchpool
To stay in association and generate new connections, a platform named Matchpool utilizes cryptocurrencies. It provides bonuses on linking the associates of different communities such as Uber, Airbnb, or dating services.
Here the cryptocurrency comes in the form of Guppy tokens, which is better known as GUP. These are mainly used for making payments within the app.
9. Siemens
Blockchain development services have led Siemens Digital Grid and its start-up financier, named next47, to work in collaboration with LO3 for a new project. The project is related to Blockchain technology, which lets local people generate and use and buy power through it.
10. BASF
BASF Corporation took help from a blockchain development company to scrutinize the value of livestock. The information can be used to see full transparency about the food they eat.
11. Loyyal
Loyyal, which is a cross-sector rewards and loyalty platform, reinvented how customers will get incentives.
It makes use of smart contracts and Blockchain technology to manage travel and hospitality. It also correctly looks over the incentives of all employees and their corresponding credit card rewards.
12. SimplyVital Health
With the added cost of aligning different technologies and issues due to sharing of data for security and privacy issues, the health sector hasn’t yet upgraded a lot from the past.
However, with the help of blockchain app development, SimplyVital Health has granted the authority to patients to share and access their healthcare information.
13. Guts
Guts which also works on blockchain technology, reduces the opportunity of ticket fraud and overcharging. Its algorithm maintains similar ticket prices and locks the prices by linking them to the mobile number.
14. De Beers
By tying up with 5 various other diamond manufacturers, De Beers has developed Tracr. It is a first-level Blockchain platform, which aids in securely tracking a diamond. The platform is designed to deliver untampered data whenever there is any suspicion revolving around it.
15. Ubiquity
Ubiquity, also a part of the blockchain platform, provides records of property information with a clean record of ownership. The consumer can input their data and store it on a blockchain with its Patent Pending API and SaaS Platform.
16. AIA Insurance
The bancassurance network, i.e., AIA Insurance, has led its bank partners to share data in real-time, reducing the processing time. It perceives new starts to have insurance with the blockchain accelerator.
Conclusion
Thus, through this, we hope that it is clear to you that blockchain development is a vast system with a vast scope in every sector. So, align your brand with it to upgrade and earn better revenue.
 Blockchain in Action — 16 Inspirational Examples 
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May 12 2021

5 Applications for Blockchain in Your Business

Cryptocurrency has been through a roller coaster ride, i.e., with ups and downs ever since Bitcoin was introduced. And since the introduction of Bitcoin, it is always referred to as something that is specially meant for black market activity and endless possibilities of something wicked in the present times. But then comes the Blockchain, which is the public ledger that records every bitcoin transaction.
After the advent of Blockchain, every blockchain development company around the globe is trying to evolve more so that they can firmly stand as an alternative to traditional banking. It has now got the potential to have a centralized banking setup and also can bring a new set of transaction methods, which can change the way we do banking nowadays.
So, let’s find out the 5 best blockchain applications for business.
1. Smart Contracts
The term has a long history, but in recent years it is under the mouth of many technologies since it was released by the Ethereum Project in 2013. The whole Ethereum project comes in the form of a decentralized platform, which has smart contracts applications that are automated to run without having downtime, censorship, fraud, or third-party interference.
Many people have even suggested that smart contracts are pre-programmed algorithms that hold the capability to carry out the terms of any contract. Therefore, with smart contracts, businesses can bypass regulations and can reduce the cost of the subset.
A good example of smart contracts can be found in companies like Slock, which is also an Ethereum based platform. Through it, the company can rent a bicycle to the customers. The cycle gets unlocked to use only when both parties agree with the terms and conditions. Thus, making it a worthy Blockchain app for business development.
2. Cloud Storage
Another application on the list that provides blockchain development services is Cloud Storage. In 2021, many businesses or even general users are taking advantage of it. Storing things on the cloud makes it easier for any person to access them. Thus, they don’t have to carry external, tangible pen drives or hard drives everywhere they go.
For instance, Storj, a company, is also offering cloud storage and thereby decreasing the dependency. Even the founder of the company believes that the age of hard drives is long gone. People can now store 300 times more data and files than they can on an average hard drive.
Many people foresee that spending over 2 billion on cloud storage can not only deliver revenue to most users but will also reduce the cost of storing data in hard drives.
3. Supply-Chain Communications
The creation and the marketing of a product don’t involve only a single brand in the process, and therefore there are several brands involved in the process. There is a chain of suppliers who are involved in the final output of a product by a brand (e.g., graphite for pencil).
The biggest pre-existing problem is that if a supplier fails to provide components or funds at the right time, the primary final brand gets the backlash. Therefore, this Blockchain app development helps in simplifying the issue.
It helps in proactively delivering digital permanence and audit-able records that can easily be audited and scrutinized. Companies like Provenance and SkuChain are already on the verge of solving such issues.
4. Electronic Voting
According to BitShares, which is a worldwide distributed database, Delegated Proof of Stake (DPOS) has emerged as the most compatible and fast consensus model available, which is well-organized, highly distributed.
DPOS fairly resolves consensus issues by leveraging the power of stakeholder approval voting. Through the elected delegates, it can schedule fees and tweak the transactions. Its consensus protocol helps in safeguarding the users from getting involved in regulatory interference.
5. Paying Employees
Most of us already know that Blockchain has its connection with cryptocurrency, and hence it can be used to compensate the employees. Many people in the past have pointed out that if a company pays internationally regularly to its clients or employees, it will result in transaction fees and added time.
So, here Bitcoin can be a cost-saver, as with payroll services like Bitwage, you can save money from transaction fees, and the transfer process is also faster. As it takes much time to move funds from banks to banks, therefore this prolonging process can be cut short.
Even the founder of Bitwage has stated that chronologically doing transactions helps in seeing where the money is going. This process not only saves time for the employers but also the employees get their wages faster.
Conclusion
Now, as the expert teams of top-notch Blockchain app development companies provide enhanced security, it has almost made banking tougher to hack. So, you can take the help of Blockchain to upgrade your business app to the next level.
 5 Applications for Blockchain in Your Business 
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Dec 10 2020

How Blockchain technology offers improvements to payments security

Blockchain is disrupting industries like Fintech, Agriculture, Supply Chain Management, Pharmaceuticals, and Real Estate Registry. It has found unique solutions to some of the most pressing concerns of modern time. With the advent of big data and analytics, blockchain also provides pioneering solutions in data management.

The first and foremost application was found in the payments industry, with the introduction of cryptocurrencies, making them faster and more secure. In this article, we will look at how blockchain structure and Blockchain Payment Gateways can help make our payments secure.

Blockchain can be described as a living ledger with a network of peers who participate and monitor the assets and their transfers. They individually hold all the data of the blockchain but are collectively responsible for approving transactions. Data once approved is immutable and disincentives are present for shady or unscrupulous practices. This decentralized system has improved the efficiency, reliability, and security of countless industries.

Cryptocurrencies were the first application of blockchain technology, bitcoin, being the first of its kind. Any transaction or modification is accessible by all the users on the public ledger, adding a level of security. Just like fiat currencies issued by Central Banks, cryptocurrencies have all the properties: scarcity, fungibility, and non-repudiation but are not issued by a central authority. Instead, bitcoins are mined by solving complex mathematical puzzles related to the stamping of a transaction. Moreover, as this solution is impossible to falsify, it makes the complete architecture secure and very easy to verify.

The PCI (Payment Card Industry) Security Standards Council, a global forum created by leading payment networks such as American Express, Visa, and the likes believe that the payment industry is seldom prepared for changes. It works reactively to new threats and all-new payment method implementations are vulnerable to more modern attacks. For example, all critical payments information including credit card numbers, currently pass through the merchant’s payment systems and become the potential place for security breaches. A Blockchain Payment Gateway Development has the potential to eliminate this shortcoming.

Cryptocurrency is already accepted by a plethora of merchants and its usage is witnessing an upward trend. Consultants at PCI state that cryptocurrencies challenge these traditional approaches to privacy, trust, and security by its decentralized structure.

So far, centralized systems have controlled how payments are executed and users upheld their trust in the central institutions responsible for privacy and security. On the other hand, a cryptocurrency functions not on trust but on the integrity of the underlying algorithms governing the structure.

Every node holds a copy of the ledger and the protocol is governed by an MIT license open-source software. It uses a number of public security primitives and data structures that are well established. These include but are not limited to SHA256 hashes, Merkle trees, and Elliptic Curve Asymmetric Cryptography.

A group of transactions are used to form a block and this block is assigned a unique SHA256 hash. The subsequent block holds this hash key from the previous block and the cycle continues. This exercise links all the blocks to each other and forms a chain, which is known as a blockchain. Hence, it becomes impossible to modify a transaction once it has entered a block.

Firstly, cryptocurrencies provide an alternative to the current payment systems and highlight the flaws in the latter. Secondly, it provides a strong underlying architecture which can be used by Blockchain Development Companies to prepare future payment gateways and enhance security.

Cryptocurrencies are legal in most countries and with better regulations, its mainstream application can be witnessed pretty soon. The costs associated with cryptocurrencies to send and receive money are negligible compared to the current charges levied by card issuers, banks, and other intermediaries. Removal of intermediaries would also lead to shorter execution time and reduced risk of security breaches. A Blockchain Payment App Development would leverage all these benefits and provide a fool-proof, secure, inexpensive, and fast way to make payments.

Blockchain has the potential to acquire a huge market in the micropayments industry. Payment networks levy heavy charges in the form of a fixed + variable fee which goes exorbitantly high while handling very small payments.

The payments industry has seen major overhauls but struggled to keep pace with the growing internet and payment demands. Payment security is a big concern, especially when money is sent across borders and involves an exchange. In such a scenario, information passes through multiple processors and increases the likelihood of a data breach. A Blockchain Technology Payment Security offers the perfect solution through its decentralized system, thereby reducing intermediaries, costs, and risks in executing payments.

How Blockchain technology offers improvements to payments security

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Dec 08 2020

Hyperledger Vs Ethereum — Which Blockchain Platform Will Benefit Your Business?

The two popular open-source Blockchain platforms, Hyperledger and Ethereum have created ripples of innovation in the blockchain world. They have not only found numerous blockchain applications but are also continuously encouraging blockchain developers around the world to engage in its collaborative development of framework and tools. Ethereum development company has tremendously changed the very face of the technology industry, and Hyperledger Blockchain Development, on the other hand, is warming up and doing a great job on the block.

In this article, we will underline the differences between these two highly sought-after blockchain platforms by discussing in lengths about their features.

What is Ethereum?

Ethereum is an open-source distributed public blockchain network which allows access of data to each participant in the network. Every time a new block is added to the Ethereum Blockchain, it will also be added to the universal copy that exists with all the individual nodes in the network. Everyone across the globe can connect with the help of Ethereum Blockchain Development and maintain the current state of the network. For this very reason, Ethereum is widely referred to as the “World Computer”.

What is Hyperledger?

Developed and hosted by Linux Foundation, Hyperledger is an open-source blockchain project. It was developed keeping in mind the distinctive needs of organizations. So, the Hyperledger Blockchain framework allows enterprises to customize Blockchain applications in accordance with their unique requirements. Hyperledger comprises tools and projects that assure to deliver high scalability, confidentiality, and resilience.

Purpose

Ethereum is designed and developed with the purpose of running smart contracts on EVM for the mass consumption of decentralized applications.

Hyperledger development, however, leverages blockchain technology for business. It has a modular architecture and provides flexibility in the way the enterprises want to use it.

Confidentiality

Ethereum is a public network so it is entirely transparent and all the transactions recorded in the Blockchain network are both visible and accessible by every peer.

Contrary to Ethereum, Hyperledger being a permissioned Blockchain platform is highly secured. All the transactions on the network are visible and accessible only to the parties having correct encryption keys.

Consensus Mechanism

With Blockchain Ethereum Development, all the participant nodes must reach consensus over all the transactions, irrespective of whether an individual node participates in a particular transaction or not. By leveraging the Proof of Work (PoW) consensus mechanism, all nodes must agree on a ledger to access the recorded entries in the network.

Hyperledger, on the other hand, allows nodes to choose between a no-op (no consensus needed) and Practical Byzantine Fault Tolerance (PBFT). In the latter approach, two or more parties can agree on a key to influence the desired outcome. This precludes undesirable third parties from intervening in the agreement.

Programming Language

Ethereum uses a high-level contract-oriented programming language called Solidity to write smart contracts. However, Hyperledger uses the term “chaincode” as a synonym for “smart contracts”. These “chains codes” are written in Golang, which is a programming language created by Google.

Cryptocurrency

Ethereum has a built-in cryptocurrency, Ether (ETH) and participants can mine Ether by paying “gas” as the cost of each transaction they carry out on the network.

Unlike Ethereum, Hyperledger does not require cryptocurrencies for transactions. Hence mining of cryptocurrencies is not required at all which allows for a scalable consensus algorithm that enables it to handle high transaction rates that further automate business deals made across the network.

But looking at both sides of the coin, as Ethereum has its own ether, it can turn out to be advantageous over Hyperledger in the cases which require a cryptocurrency.

Ethereum vs Hyperledger: When to use which?

Ethereum can be used when,

You want to develop public applications or B2C applications. With Ethereum Development Company, one can create a node and each node on the network possesses a copy of the blockchain.
You want a community-led by blockchain developers as Ethereum is enhanced and improved by developers worldwide.
You are open to working with third parties since most of the tools used for Ethereum Development rely on third-party, open-source projects.

Hyperledger can be used when,

You specifically want to develop B2B applications as it is explicitly designed to cater to B2B requirements.
You want to define your unique Blockchain infrastructure right from consensus algorithms to which nodes can decrypt which block on the network.
You are comfortable using in-house tools supported by top companies as the Hyperledger Blockchain framework is backed by Linux Foundation.

To conclude, both Ethereum and Hyperledger are highly flexible and come with their own set of advantages that are useful for different business scenarios and challenges. You can choose to work with any of these two tools based on the requirement of your blockchain project.

Hyperledger Vs Ethereum — Which Blockchain Platform Will Benefit Your Business?

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Dec 04 2020

With Blockchain’s real estate development, we are all quite accustomed to all the hidden perks of…

How to Shift to Coding for Decentralized Systems?

With Blockchain’s real estate development, we are all quite accustomed to all the hidden perks of centralized systems. Decentralized systems, on the other hand, offer a whole new world of possibilities. If you are looking forward to shifting your coding for decentralized systems, there are several aspects to look for.

There is no involvement of any third-party, which certainly promotes transparency above anything else. Neither less to say, all the transactions can easily be seen through the user’s public domain. Having a clear understanding of the STO Development Services is very crucial.

We cannot precisely say how we entered the digital world, but there is no turning back. In fact, Real estate blockchain development offers a crypto exchange option if you have a real estate property that needs to be taken care of. The need for creating a secure and advanced platform is absolutely necessary for a decentralized digital ecosphere.

Blockchain is one of the trusted sources which is helping to build a financial system that depends on cryptocurrency. As we all are aware, the year 2020 has been one of the toughest years due to pandemic and followed by an economic crisis. Despite all the odds, Real estate blockchain development has bright future plans for its users. If we look into the global economy, then real estate plays a vital role. Not only for the fact that it generates trillions of dollars, but with time, there has been a downfall in terms of transactions. Cleary, the transparency between the different bodies maintaining the financial aspects has not shown positive progress. As a result, here are some of the benefits offered by Blockchain’s real estate development.

Allowing tokens for transactions in regards to assets concerning real estate.
With an automated process in the real estate area, the cost can be reduced to a certain extent.
The user can now access global assets and buy and sell it efficiently.
With the trans[arency in the data and as a user, when you can get your hand on the information, it further helps you to make better financial decisions and look for a profitable portfolio.

To simplify it, these tokens are assets that can be compared to bonds, share stock, warrants, and lastly, bonds. The Security Token Offering Development team is entirely responsible for guiding the investor and increasing the chances for earning profit.

STO stands for Security Token Offering, which is a term used for digital or cryptographic exchange. To deep dive into the topic further, STO Development Services carefully helps to secure the token, and the technical team can create a dashboard for better understanding the fund and investors’ interest. The need for STO services ensures the digital transaction is safe, and one can continue with the trading.

Here are a few examples of how Blockchain’s real estate development transformed the real estate industry.

One needs to keep in mind as they enter the real estate market guidance from an experienced person, in-depth knowledge, and lastly, executing the idea with help from professionals from the real estate field.

Managing Assets and real estate funds.
Financing projects in real-time.
Accounting details being shared in real-time.
Guide to investors before investing in any particular project.
Last but not least, managing the property.
Planning of the real estate only after consultation with the group of people designing urban societies.

Whenever there is an urban community, the initial work of real estate development starts with help from people staying in such a community. Often those individuals feel dejected for not partaking in the planning procedure. But with the help from the blockchains planning program, it can educate the people. In return, they can earn incentives with active participation with a few educational resources. This ensures that the community of people is happy, thereby improving confidence in the public. As well, it helps the community to thrive together on prosperity by achieving sustainable success.

Lastly, one needs to educate oneself before entering the cryptocurrency territory. Blockchain is one of the leading bitcoin explorer services. Since this is a comparatively new area, people need to gather as much knowledge as they can before doing it right. Hence the need for various teams to make sure the investment bears fruit with passing the time; one such important part is the STO Development Services and STO Solutions, which will help you make better decisions with your investments.

With Blockchain’s real estate development, we are all quite accustomed to all the hidden perks of…

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