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Blockchain Council becomes Academic partner to The Next Top Blockchain Startup competition 2021

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Blockchain council is happy to be the academic partner to the most innovative Blockchain Startup Competition happening this summer. The Next Top Blockchain Startup is an online competition and incubator conducted globally. The motive of this competition is to boost technology-driven blockchain entrepreneurs and provide them a platform for promoting their ideas to leading investors who will be the judges and mentors in this competition. 

Blockchain Council invites innovators and entrepreneurs to be a part of this globally renowned startup competition.  

Get yourself registered in this fantastic and promising Blockchain Startup Competition before June 21, 2021. After registration, you need to start building your project as per the submission checklist. Make sure to submit the project before the deadline. After reviewing and testing, the winners will be announced on August 20, 2021. 

THE NEXT TOP BLOCKCHAIN STARTUP COMPETITION 2021

Innovation is all about getting inspired, and this competition will surely be an extraordinary experience which no Blockhain enthusiast should miss!  If you want to explore the world of Blockchain Technology, then shape your ideas and contribute to solving the day-to-day problems using Blockchain. 

This event is not just for Blockchain Developers. If you have an idea or interest in blockchain, this is the opportunity to build and pitch your idea in front of investors, protocols, and the global blockchain ecosystem. 

Visit the event site for more information

https://topblockchainstartup.com

Blockchain Council becomes Academic partner to The Next Top Blockchain Startup competition 2021

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Cryptocurrency Wallet Development Realizes the Future of Payments

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Codezeros

The advancement in technology is undeniable. And everything nowadays is available at our fingertips. In recent years, the number of users investing in digital currencies is rising. Thus, Ethereum and Bitcoin always stay at the peak.

Cryptocurrencies can be stored in various wallet options. This article is going to cover everything you need to know about crypto wallet development.

What is Cryptocurrency?

Cryptocurrencies refer to a type of virtual currency that is secured by cryptography.

Almost every cryptocurrency is created on distributed ledgers and makes use of decentralized networks that are further integrated with blockchain wallet development technology.

How do cryptocurrency wallets function?

  • The crypto transactions are stored in a blockchain network by the wallet that cannot be altered.
  • When a user sends cryptocurrencies to another user, he is transferring the ownership of the coin to the receiver.
  • It consists of both private and public keys that are associated with the currencies.
  • Only if the private key matches the public key, the users are allowed to make a transfer of their digital coins.
  • The private key is used for validating the transaction, whereas the public key is utilized to receive the funds.

Types of cryptocurrency wallets:

The types of cryptocurrency wallets are described below:

  • Desktop wallets:

One can easily download desktop wallets on a PC or laptop. Most of them are secure, and the security will not be compromised until there is a cyberattack.

  • Virtual wallets:

Based on the cloud, virtual wallets are accessible from any location. With the implementation of blockchain technology, it is safer and convenient but is still vulnerable to cyberattacks.

  • Mobile wallets:

Through a mobile app, mobile cryptocurrency wallets can be used. Several retail stores accept payments through this type of wallet.

  • Hardware wallets:

These wallets do not store any private keys of the users online. Instead, the keys are stored on a hardware drive.

  • Paper wallets:

This type of wallet is considered to be the most secure one. It generates printable private and public keys. It can handle easy fund transfer, and it has a QR code facility for user convenience.

Current Cryptocurrency trends in the market:

The first cryptocurrency was bitcoin. And the ones that are developed after bitcoin are often called Altcoins, which serve as the best alternative to fiat currency.

The fluctuation of monetary value, investment growth in the capital, cross-border remittance, and transparency have drastically influenced the market growth.

The leading wallets in 2021:

According to popular providers of wallet development services, Cryptocurrency wallets can be divided into two major categories, namely,

  1. Hardware wallet:

The hardware wallets for cryptocurrency are:

Ledger Nano S: It is a super-secure hardware wallet for cryptocurrency. It has its OS called BOLOS and features 2-feature authentication.

Trezor One: Modern cryptography is integrated with Trezor One. It also uses 2-factor authentication for transaction authentication.

2. Software wallet:

The software wallets for cryptocurrencies are:

Coinbase: It is efficient in creating open financial infrastructure. It has over 35 million users currently.

Gemini: It is accessible via both PC and mobile. Gemini can track real-time cryptocurrency prices. The users can set price alerts to get immediately notified during price fluctuations.

Steps for development of cryptocurrency wallet:

Follow the below processes for cryptocurrency wallet development:

3. Define your cryptocurrency app type:

As there are already existing concepts, you do not need to reinvent. Just learn from your competitors, speed up your development process, and define the crowdfunding app concept.

4. Evaluate the existing market scenario:

It is not time for you to analyze the market. Perform a SWOT analysis for your cryptocurrency wallet development to overpower your competition.

5. Design UI/UX:

Identify user flow and create user-friendly information architecture. And focus on making a high-quality UI.

6. Develop technical architecture and backend:

Aspects like database, UI, service tools, and workflow needs to be considered. After the technical architecture is ready, opt for backend development. Create internally and bind external APIs to build a robust backend.

7. Frontend development:

Work on making a responsive design, and make sure that the user experience is top-notch. The most crucial thing about creating a frontend is that it needs to be reliable.

8. Testing:

Finally, test the app, and compare it with the original requirement document. If any errors or bugs are found, it is fixed by the development team. And the QA team verifies it, and then only it is released.

The necessary features for cryptocurrency wallets:

The must-have features are:

  • User account management
  • QR-code scanning
  • Trading and exchange cryptos
  • Efficient security
  • Currency management
  • Push notifications
  • Seamless onboarding

Conclusion:

The dramatic rise of Bitcoin influenced the global monetary system. And this market will continue to grow and will be the future of digital payments.

If you are unfamiliar with cryptos, you must not commence with the app development hectically. And you must take help from a professional cryptocurrency wallet development company to develop highly secured wallets.

Cryptocurrency Wallet Development Realizes the Future of Payments

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Blockchain Technology is Advancing Health Technology

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Codezeros

Healthcare infrastructural system has been a prolonging issue in every country, be it a developed nation or an underdeveloped nation. It is much needed that the healthcare industry moves on to better information technology solutions that serve a better functioning framework.

However, it wasn’t accurately the case, as the healthcare system kept on lagging and failed to implement newer technologies. Thus, to upgrade healthcare technology, what can be done is to use blockchain technology as the IT tool to meet all the needs.

So, let us discuss how involving blockchain in the healthcare system can revolutionize the whole system.

Blockchain Technology is Advancing Health Technology

The Decentralization of ePHI (Electronic Protected Health Information)

To talk about healthcare data, it is about several private sets of information which is known as electronically protected health information (ePHI). This holds information about patients like their personal data, the insurances, other previous health records, etc.

All of these things remained changed since the introduction, and even with other technological advances, there was no such upgrade in the healthcare system.

The slower rate or negligible rate of modernization of the system is all because of the healthcare provider’s low interest in providing funds for the development and also thanks to the inefficiencies from the healthcare provider’s side.

However, with passing years, healthcare administrators are finally gearing up to upgrade to blockchain in the healthcare sector, as they know that this can bring more elaborate and categorized data of their patients.

Block technology has got the potential to change the healthcare system and can create a whole new level of excellence.

The blockchain, when integrated with a record-keeping solution, will therefore render better privacy which can safeguard sensitive information. Moreover, it will let people manage their health data.

The decade surely needs advanced healthcare technology, which can be effective enough for all patients. So, for that, blockchain is the correct solution which is an immutable and encrypted ledger technology. And there are several various features that it provides lie:

  • More inclination towards people-

As blockchain and the data on it isn’t owned by any organization, thus the information is decentralized, and it helps to protect the stats and data of individuals.

  • Data on the blockchain is encrypted–

Blockchain encrypts the data completely, as it secures the data, be it of health information or even banking information, the information can’t be changed.

If in situations where there is a need to change the information of the patient, then it can be done by creating another node, where the previous information is amended.

  • The blockchain itself is reliable–

The information or data stored in the blockchain gets safe as the chain becomes permanent. If any changes are needed to be made, then another block needs to be created. Any patient’s information can be looked into by looking back into the blockchain.

  • The blockchain improves transparency–

By adopting blockchain in healthcare, patients will benefit by getting the ability to monitor their health information consistently, rather than relying on other people.

This system also grants authority to the people where they regulate the ePHI, which will help them in consulting with doctors and nurses to bring out the best care possible.

Other blockchain systems that aid in the healthcare sector

Another system that can work on par with Blockchain is Electronic Health Record (EHR) or Electronic Medical Record (EMR). So, if these types of systems collaborate with blockchain technology for healthcare, it will give common people better visibility over health information.

It has been years since private health organizations and insurance companies had complete authority over the information. This left the individuals in total darkness about the efficiency of the management. However, an amalgamation of both systems will bring more enhanced transparency.

With the chain system in blockchain that makes it traceable, patients can easily send records to whom they prefer instead of fearing corruption or mishandling. The encryption of blockchain will keep the information classified and secured until it gets shared with a healthcare provider or insurer.

This will help in setting benchmarks so that the insurers or organizations can formulate a benchmark for the patients to meet. This system will also decline bills spent on medications by tracking the prescribed drugs, lowering supply chain costs.

It is also presumed that blockchain, because of its data storing system, is gaining the attention of many health sectors. The whole blockchain system can advance medical record management and increase the insurance claim process, quicken clinical research, and advance biomedical and healthcare data ledger. And, with proper implementation of the block, patients can easily contact other hospitals and gather their medical data.

Conclusion

So, this system indeed brings newer things into the framework, which is more simplifying and transparent. Moreover, they work by aiding the general citizens, i.e., they can shift the framework of a private organization-based system to a patient aiding system.

Blockchain Technology is Advancing Health Technology

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5 Blockchain Predictions Moving Forward

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Codezeros

Most of the information and technology in 2021 is on the verge to adapt new changes to attain faster and more predominant communication. That is why Blockchain technology is already on the verge of embarking a stern existent into the framework.

Thus, many blockchain development companies are upgrading day by day and evolving more. This evolution can benefit your business as well.

5 Blockchain Predictions Moving Forward

Stronghold of blockchain’s future

It is through blockchain and identity of several newer technologies that came as a part of cryptocurrencies, like Bitcoin and Ethereum, the whole money transaction format has seen a newer advancement. Apart from merely being seen as a digital payment platform, there is more that is expected from Blockchain technology.

Blockchain has eradicated the complete usage of centralized management entities such as a bank. It is because it is a distributed peer-to-peer ledger system, and money transmission from one continent to another has got easier. The system has brought some newer introductions like data blocks, which are kept in series or chained together while a ledger transaction is made.

One can get truly high transparency thanks to the open-source, impermeable configuration of the blockchain. Each record that passes through blockchain technologies is sent through millions of computers worldwide to get confirmed about the accuracy.

And, this advent of new technology is making the world change. Be it transactions for business or record keeping; the new blockchain technology has completely automated the whole process.

Businesses should embrace this technological change because, firstly, it is cost-effective and also brings a faster solution.

So, here are the 5 most important predictions of blockchain technology.

1. Government data distribution

This move of the government to the Distributed Ledger Technology system has been predicted for a long time because of the rapid digitization of the system.

It is due to the increasing advantages that Distributed Ledger Technology holds, like trust, transparency, and security via encryption and validation features.

2. Greater transparency between industries

Transparency and security will get a level up when blockchain is spread throughout the world. It is well anticipated that in some years, industries will be connected with a single blockchain that is shared all across.

Long had gone the age when each company or industry had systems that differ from company to company. However, with a single system, things become less complex and are better for accessibility to the public. And truly, it sticks with the primary aim of keeping things crystal clear whilst providing great security.

3. Institution-issued cryptocurrency

Along with the usage of the blockchain network, seemingly, the government will put focus on cryptocurrency development. The shift is much needed as it will transform fiat currency into cryptocurrency. A rapid change is needed because cryptocurrency benefits in being more traceable, which has reduced settlement times and is overall more efficient.

Another thing, which came into highlight is that cryptocurrency, just like the fiat currency, is also backed by real assets, and in this, the prices can be manipulated in numerous ways.

Zimbabwe recently shook the world by using Bitcoins to oppose the national currency. And they are doing this to form their indigenous digital currency, which will be nationally available. And this creates a mega opportunity for any blockchain development company to make a mark in the industry.

4. Blockchain and identity

The identity systems are very much defective these days. Firstly, they are more likable to get into errors, they function in isolation, and they are completely porous. However, the blockchain identification platform can be effective here, as it uses a single source to verify identity and assets. The “self-sovereignty” feature of blockchain has brought newer advantages in identity.

1.5 billion people throughout the world have several inadequate ways of proving their identity. However, even the disqualified people will get the ability to access legal documentation and privileges with the help of the blockchain platform.

The information of identification is stored in an open-source encrypted ledger, which makes things more secure than keeping them in the hand of third-world agencies.

5. World Economy via blockchain

The international trading that has been preexisting for years is now found to be an inefficient and dysfunctional process. These demerits of international trade shallows and slows down the motion of trade and dampens trade between nations. International trade in 2021 is full of fraud, counterfeiting, dirty politics, and errors.

Cryptocurrency can eradicate all such issues like fraud and less productivity, as it bundles up several methods of payment, paperwork, and regulation through a single digital international system. This process will also increase the trust between each nation.

Blockchain development is much needed not only because it is advanced but also due to cryptocurrency involvement. The business applications are getting smart contracts and automated tracking and policy enforcement. All of these greatly increase reliability and make things easier.

Conclusion

Adapting and shifting the complete framework of money transaction into Blockchain development is much needed in the world, more of the digitization that is going all around the world.

5 Blockchain Predictions Moving Forward

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How Enterprise Blockchain is Transforming Legacy B2B Back Office System

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Codezeros

Organizations nowadays are using enterprise blockchain, which is aiding them to alter custom applications and legacy B2B collaborations in the back-end office digitally. This move was great because of the increased competence of shared ledgers and digital assets.

Thus, the other technologies associated with blockchain are completely regarding B2B collaborations.

How Enterprise Blockchain is Transforming Legacy B2B Back Office System

B2B Communications is a Crucial Element for Business Network

Companies can collaborate to execute works with popular brands around the globe in all main sectors like insurance, financial services, manufacturing, travel, etc.

All of the services under the B2B classification are time-consuming and make difficult plumbing problems easier to solve. In other words, it makes everything as simple as clicking a button. Documents exchange and messaging are already simple.

But a consortium’s decentralized nature adds some tricky and new wrinkles to the mix. Services in terms of security, operations, and tenancy models for the blockchain and admin console need to be considered and created for the non-functional necessities of consortia.

All the modern business networks need a complete B2B tech stack. And it is an indispensable requirement for blockchain technology for running and building data marketplaces or exchanges.

These are the valuable and critical components of an enterprise blockchain development company with blockchain consortia. Almost every network member of the business seeks to exchange data or documents off-chain.

What’s necessary for B2B communications?

A brand new UX (User Experience) for both document exchange and app-to-app messaging in the off-chain communications layer is important. These upgrades not just only make it superficial but helps in-deep. New APIs and monitoring dashboards need to be integrated for high volume and large document transfer.

DApps or the enterprise-based decentralized applications possess a diverse architecture, layout, and design to those of the traditional applications. Having a shared ledger of enterprise blockchain development at the core will enable you to connect via off-chain and on-chain methods among several participants to coordinate end-to-end business-related transactions and gather valuable data for solid proofs.

For linking data and assets to “hashes’ on-chain from external systems, the users can create blockchain programming constructs such as ‘tokens.’

Data and actions can be attached to certain organizational identities. Sometimes these data and actions are even masked for privacy. And these can be tracked down to entities of real business and can prove to be beneficial for the blockchain business network.

A very common instance — Have a quick glance at the use cases of private data sharing:

For enhancing the data sharing process of B2B businesses, the opportunities are better and are getting proved each day. A lot of people from various industries are prioritizing “Private Data Marketplaces.”

It enables the business network members from different entities to improve the all-over knowledge related to the consortium and ensures that every member is properly remunerated for their efforts in data collection.

Working of data-sharing networks:

Firstly, multiple entities use a specific marketplace to share particular data. Blockchain tokens manage a data marketplace. Any member of the network requires to gather updated information and can select either to purchase the data from the people who already gathered it or can collect the data all by themselves.

To ensure a better blockchain development framework in the marketplace, a description and name for every data payload are enumerated, along with its in-token cost, collection date, and a quality score depending on the ratings given by other buyers.

By making use of a controlled supply of tokens, the consortia members make a contribution to the collection of data. The blockchain-related solution enables all its members to share the data type they have, which allows the member to decide whether they need it or not.

All members of the business network get a notification whenever there is the availability of data for making a purchase. Any interested network member in purchasing the information of the vendor can go through the details, ratings, cost and ultimately buy the data directly from the data owner.

The data exchange is performed off-chain securely, and for transparency, the transaction is hashed to the technology of blockchain. And for easy data sharing, you can avail of blockchain development services and utilize features like event streams, document exchange, and contract management.

The excellent service of document exchange can be used to upload and transmit files securely within a secure environment. It can be beneficial for both security and business levels. Any received and uploaded document can be organized conveniently by making use of in-built folder structures. By using infrastructure techniques, every data can be hashed, compressed, signed, and encrypted asymmetrically. Flexible service interaction supports in-console graphical UI as well.

Conclusion:

Technology is an inevitable factor in every aspect of life. Even the marketplace is implementing the latest technologies. Blockchain is deterministically transforming the legacy of business to the business back-office system. For better knowledge of blockchain, you may look for professional help, and before commencing, try to acquire as much knowledge as you can.

How Enterprise Blockchain is Transforming Legacy B2B Back Office System

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Blockchain Versions Explained: A Guide for Beginners

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Blockchain Versions Explained A Guide for Beginners

Are you a beginner in the Blockchain space? Want to get started with this futuristic technology? This article talks about various versions of Blockchain, providing a clear understanding of exactly what this technology is all about.

Table of Contents

  • What Exactly is Blockchain Technology?
  • Types of Blockchain Versions
            * Version 1.0: Cryptocurrency
            * Version 2.0: Smart Contracts
            * Version 3.0: Introduction to dApps
            * Version 4.0: Blockchain for Industry
  •   Wrapping Up 

What Exactly is Blockchain Technology?

A Blockchain is a peer-to-peer (P2P), decentralized, distributed ledger technology with a continually growing public ledger that keeps a permanent record of all the transactions securely and immutably. A blockchain is a network of information-containing blocks where each block tracks all recent transactions and, once done; it is stored permanently on a Blockchain network.

It is different from the traditional database because Blockchain is decentralized because there is no intermediary or mediator, and it is fully confidential. 

The technology has gained a lot of public attention since 2009, and since then, it is continually growing and developing, and now it is more than bitcoins and cryptocurrency. Its demand is because of its ability to offer decentralization, immutability, transparency, and privacy.

Are you a beginner in this domain? Want to get started with Blockchain and become a Certified Blockchain Expert? Get started today!

Types of Blockchain Versions 

As we have understood what exactly Blockchain is, let’s delve deep into the evolution of this technology, including blockchain progression from version 1.0 to version 4.0.

  • Version 1.0: Cryptocurrency 

The implementation of distributed ledger technology led to its first-ever application, and that was the introduction of cryptocurrency, Bitcoin. After Bitcoin, various other cryptocurrencies were introduced to allow financial transactions based on Blockchain. 

Satoshi Nakamoto, a pseudonym for a different person or persons who invented Bitcoin, wanted to create a “trust-less” cash system by removing third-party intermediaries, unlike in traditional systems that require mediators to perform digital monetary transfers.

  • Version 2.0: Smart Contracts

After Bitcoin, version 2.0 extends the concept of Bitcoin beyond cryptocurrency. 

There were several challenges that came with Bitcoin, and those were wasteful mining and lack of network scalability. To deal with such issues, version 2.0 introduced smart contracts. Smart Contracts are autonomous computer programs that execute automatically when the desired conditions are satisfied. Such contracts run on the blockchain network without any plausibility of downtime, fraud, or error.

The aim of the smart contract is to provide security while processing transactions and reduce excess transaction costs and time. Unlike traditional contracts, smart contracts maintain complete transactional transparency, offer security and confidentiality by making use of cryptographic algorithms. 

Smart contracts can be applied to trade finance, supply chain, property ownership, and many other domains. 

  • Version 3.0: Introduction to dApps

dApps are Blockchain-based apps, or we can say that dApps are a part of the software that communicates with the Blockchain, which manages and controls the state of all network actors. Unlike centralized apps that run on a single computer, blockchain-based apps run on a P2P network.

Such applications use decentralized storage and communication, and most have their backend code running on a decentralized network, unlike centralized applications that run on centralized servers. 

A few of the top-ranked dApps are ForkDelta, CryptoKitties, Bancor, Ether Shrimp Farm, PoWH 3D, Moon, Inc., among others. 

  • Version 4.0: Blockchain for Industry

Although the value of Blockchain in industries is yet to be defined, there are still some areas such as finance, supply chain, manufacturing, healthcare, logistics, including others in which this technology provides prospective benefits. Technology 4.0 demonstrates the strategies that make Blockchain available to business requirements.

Various organizations, industries, enterprises, and businesses are willing to adopt Blockchain technology for their efficient operations. Due to their decentralized nature, distributed ledger technologies like Blockchain can easily resist malicious attacks and frauds. With continuous efforts, Blockchain developers and technocrats are trying to build a scalable, adaptable, and affordable Blockchain for the world. 

Wrapping Up 

Undoubtedly, Blockchain has made a lot of progress since its invention. Those who have understood its potential are ready to go beyond the paradigm of a central system for anything and everything. Due to its decentralized nature, technology can easily resist malicious attacks and can execute transactions instantly. The latest upgraded version that is version 4.0 is leading us towards faster processing and sustainable technology in terms of immutability, anonymity, privacy, secure transactions, and cost-efficiency. But still, there is a call for a safer and more robust Blockchain.

If you are a beginner but want to master this futuristic technology, Blockchain Council is here to assist you!

To get instant updates about Blockchain Technology and to learn more about online Blockchain Certifications, check out Blockchain Council. 

Blockchain Versions Explained: A Guide for Beginners

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