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Top NFT Projects You Must Know in 2021

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Top NFT Projects You Must Know in 2021

Wondering what NFTs are? Want to know some of the top-rated NFTs? Well, we have got you covered! 

Table of Contents 

  • What are NFTs?
  • Top-Rated NFT Projects on the Rise 
  • Concluding Lines 

What are NFTs?

NFTs stand for Non-fungible tokens, which means that they are unique and can’t be replaced with something else. If we talk about a fungible asset, it is something with units of data that can be interchanged easily and quickly – for instance, money. 

In the digital world, most technocrats define non-fungible tokens as “one-of-a-kind” assets that can be bought and sold like any other property but have no tangible form of their own.

Here it is important to note that although NFTs can be anything digital, for instance, drawings, music, etc., but at present, excitement is around using the technology to sell digital art.

In most simple words, NFT is a unit of data on a digital ledger called Blockchain, where each can represent a unique digital item.

Want to gain an in-depth understanding of Blockchain Technology and become a Certified Blockchain Expert? Get started today!

Top-Rated NFT Projects on the Rise 

CryptoPunks 

It is one of the high-grossing NFT projects and is considered to be one of the most simplified art forms for NFTs. Blockchain Experts and technocrats believe that it is a project that inspired the modern CryptoArt movement. CryptoPunks project enables its users to trade and store 10000 unique collectible characters generated uniquely using Proof-of-Ownership stored on the Ethereum Blockchain. By providing art ownership that can be transferred smoothly and continuously between users, this project is creating a decentralized digital art market. Its website describes itself as the first “NFT” on the Ethereum Blockchain network and an inspiration for the ERC-721 standard, powering most digital artworks and collectibles.

Are you a beginner in the Blockchain space? Get started today as a Certified Blockchain Expert with Blockchain Council!

SuperRare

Founded in 2017, it is a marketplace for single-edition digital artworks that uses an ERC-721 token that is traceable and cryptographically secured to represent each digital artwork. 

What happens is artists upload their digital artwork, and the platform certifies the digital artworks on the Ethereum blockchain network in order to prevent forgery and offers to trace. In addition to this, SuperRare charges artists a percentage of commission to upload artworks on the platform. As the platform is among the top-ranking NFT-art marketplaces, it has reached an all-time trading volume of around $7.5 million, and also more than 12 000 pieces of digital art have been sold. 

Pascal Boyart 

The OpenSea storefront of Pascal Boyart has sold digital artworks of approximately 400 ETH, with new offerings prices above 75ETH. As the name of the project suggests, Boyart is a skillful artist based in Paris who creates Digital Collectibles from his street art frescoes and has sold some of his artworks in a tokenized form in the past.

Talking about the new mural paintings, these are encased in newly minted non-fungible tokens and are sold at an auction, indicating that the crypto domain can build an art market easily within months. According to reports, Boyart’s murals also got featured in the digital Museum of Crypto Art.

To have a look at the recently added artworks by Pascal Boyart, you can visit: 

https://opensea.io/collection/pascal-boyart?ref=hackernoon.com

The SandBox

Sandbox’s website describes itself as a community-driven platform where producers can monetize voxel assets and gaming experiences on the peer-to-peer, decentralized, Blockchain platform. The Sandbox is powered by SAND (ERC-20) token and ERC-1155 tokens: LAND and FUND. The platform features three sub platforms, namely:

  • VoxEdit enables users to create and animate voxel art and export them worldwide.
  • A marketplace that provides a place to sell and collect the most beneficial assets. 
  • Game Maker allows consumers to make and play any game of their choice that they ever imagined. 

This platform partners with Atari, Square Enix, Care Bears, The Smurfs, and other leading brands. Although it has entered the crypto space recently, the project is the seventh valuable NFT protocol. 

Lil Moon Rocket

Unlike other NFT projects that are built on Ethereum Blockchain, Lil Moon Rocket is an NFT project that uses the Binance Chain to issue NFTs and subsequent “name rockets” tokens. The project follows the latest trends in the Combination of vector art and algorithm generation. Each customer can obtain their own moon rocket picture after the initial selling of the digital artwork. Lil Moon Rockets uses its own “blind auction” model to keep project managers and early competitors from purchasing the most desirable artwork first. At the completion of the smart contract, all artwork will be revealed. The best part is that owners can co-create uniqueness by renaming the artworks with full ownership, and the first collectible with determined consumer traits are offered in vector graphics.

Concluding Lines 

NFTs have the potential to transform digital exclusivity and offer a new definition to digital property rights. As celebrities have begun collaborating with NFT projects, projects have started gaining momentum, with projects reaching record-breaking sales. As a result, we will foresee NFT growth in 2021 and beyond, as well as deeper integration between decentralized finance(DeFi) and NFTs to make them more liquid and valuable. To sum up, combining art and collectable characteristics seems to be one of the most effective ways to draw new buyers.

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

Top NFT Projects You Must Know in 2021

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A Beginner’s Guide: Hedera Hashgraph Vs. Blockchain

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Hedera Hashgraph Vs. Blockchain

Wondering how Hedera Hashgraph differs from Blockchain technology? Well, you have landed on the right page. This article explains what Blockchain and Hedera Hashgrah is and how they differ. 

Table of Contents 

  • What is Blockchain Technology?
  • What is Hedera Hashgraph?
  • How It Differs From Blockchain?
  • Concluding Lines

What is Blockchain Technology?

Before we move on to understand Hashgraph, we just need to get a glimpse of what Blockchain is all about and why it is so hyped? 

So, Blockchain is a peer-to-peer, decentralized distributed ledger technology that maintains the history of transactional data (records) without involving any third-party intermediaries. As the name suggests, in Blockchain, the key concept is the blocks where records are stored safely, and there is no way data can be changed or forged in any way. Its ability to offer complete transparency, immutability, privacy, and security makes it an exceptional technology, but it has some drawbacks too. One of the notable problems that the current Blockchain-based solution is the transfer speed associated with them. Like for instance, Ethereum Blockchain allows 15 transactions per second, whereas Bitcoin allows only 5 transactions per second. Moreover, sometimes, Blockchains can be slow and cumbersome, especially when the user number increases on the network. 

What is Hedera Hashgraph?

Hedera Hashgraph describes itself as the only public decentralized distributed ledger that utilizes the fast, fair, and secure hashgraph consensus mechanism. 

Just like Blockchain, Hashgraph is another DLT devised by Leemon Baird and licensed under the Swirlds Corporation. In fact, it is an improved version of distributed ledger technology that offers security and decentralization by utilizing hashing. Here it is important to note that Hedera is unique and capable of achieving the same result as the most ubiquitous public blockchains, but in terms of energy efficiency, stability and security, it is way better. 

The best part is that, unlike Blockchain, Hedera can process thousands of transactions per second, and thus it doesn’t suffer from the speed difficulty.

Hashgraph lacks a chain of blocks, and to improve its overall efficiency, Hashgraph uses two algorithms, such as Gossip about Gossip and Virtual Voting. 

How It Differs From Blockchain?

Bandwidth and Transaction Speed

Unlike a traditional Blockchain that utilizes Proof-of-work(PoW), which selects a single miner to choose the next block, Hashraph uses gossip-about-gossip and virtual voting as consensus mechanisms. By utilizing these consensus, the hashgraph comes to a consensus on the validity and the consensus timestamp of every transaction. And if the transaction is valid, the state of the ledger will be updated in order to include the transaction with 100% certainty. 

Hashgraph technology is known to provide almost near-perfect efficiency in terms of bandwidth usage and high transaction speed (because transactions can be processed in parallel) compared to the traditional Blockchain. 

Blockchain has a transaction speed of around 100 to 1000 based on protocol implementation like ethereum, hyperledger, etc., whereas Hedera can support 500,000 transactions per second.

Transaction Cost 

When it comes to transactional cost, Hedera Hashgraph outperforms compared to Blockchain. Hedera’s transaction fees are under 1 cent, whereas in Bitcoin, an average transaction fee keeps fluctuating and is around 14.84 (at the time of writing).

Due to its advantages over Blockchain, Blockchain Experts and technocrats believe that Hashgraph could be the next wave of blockchain technology, allowing developers to create apps with high speed, reliability, and security.

 High Computation Power and Electrical Supply

Another advantage of Hedera over Blockchain is that it does not need high computational power and high electrical supply, unlike Blockchain, where mining for the cryptocurrency is power-hungry, involving heavy computer calculations to verify transactions.

Hedera Hashgraph is Fairer 

Hedera proves to be fairer than Blockchain as miners can choose the order of transactions, can delay, or even stop from entering the block if required. But Hedera uses a consensus of timestamps, which prevents people from changing the transaction orders.

Are There Any Drawbacks?

Hashgraph is an innovative technology, but there are some drawbacks. The first and the foremost limitation is its acceptance as it has been deployed in a private and permission-based network and needs to be tested in a public network. Blockchain Experts believe that Hedera Hashgraph’s technology is fascinating, but it is exceptionally intriguing, whose effectiveness can only be realized until it is opened to the public and implemented on a non-permission-based network.

Concluding Lines 

This has brought us to the end of our discussion. Hope you have gained a clear understanding between the Hedera Hash graph and Blockchain technology. 

If the domain of Blockchain interests you, you can get enrolled in Blockchain Council and become a Certified Blockchain Expert. 

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

A Beginner’s Guide: Hedera Hashgraph Vs. Blockchain

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Professional Opportunities in Blockchain Space

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Professional Opportunities in Blockchain Space

Blockchain is a booming sector, and therefore there are ample opportunities waiting for you in the market. If you want to get started as a Blockchain Expert or as a Blockchain Developer, we have got you covered as this article talks about the best online degrees for Blockchain enthusiasts. 

Table of Contents 

  • The Upsurging Need for Blockchain Experts 
  • Career Opportunities in Blockchain
  • Concluding Lines: Best Online Degrees You Must Consider

The Upsurging Need for Blockchain Experts 

Blockchain is lately gaining an immense reputation for its industry-disrupting capabilities. As a technology that simplifies complex business processes by offering decentralization, transparency, immutability, security, and privacy, a Blockchain is a must-know tool in today’s context. Blockchain Developers have become very valuable in the job market, with jobs ranging from $150,000 to $250,000. Glassdoor reports that the national average salary for a Blockchain Developer is £50,625 in the United Kingdom and that in China, it is 元3,77,580, indicating that Blockchain professionals are in high demand.

Of course, not everyone is cut out for these opportunities. If you are looking for career opportunities in this domain, you must acquire the skills that set you apart. 

Career Opportunities in Blockchain

Blockchain Developer 

This is one of the most in-demand skills at present. Tech giants, enterprises, government institutions, and even startups are looking for skilled Blockchain Developers.

A Blockchain Developer understands Blockchain technology profoundly and can build Blockchain-based applications for specific use-cases. In other words, he/she specialize in creating and implementing technical solutions with Blockchain Technology. 

A proficient blockchain developer holds a strong knowledge of bitcoin-like blockchains, including other types of Blockchain like Ethereum, Hyperledger, Corda, etc., and responsible for Blockchain evaluation and smart contract development. He develops interactive front-end designs for dApps(decentralized apps) and supervises the entire stack running their dApps.

Given the complexity of technology, it is vital to have truly specialist advisory. A Blockchain consultant provides advice and critical guidance in terms of Blockchain Technology, Cryptocurrencies, and Smart Contracts. As companies are adopting and implementing this distributed ledger technology, they are also looking for legal expertise on what considerations to make while investing, to know the implications of their actions, how to handle their finances, etc.

Blockchain Architect 

A Blockchain architect offers end-to-end solutions to its customers using Blockchain technology and helps develop an overall blockchain ecosystem engagement strategy. 

An architect progressively makes critical decisions in terms of implementation, operations, and maintenance that define a specific direction for a system and act as a technical liaison between customers, service engineering teams, and support.

In order to become one, one must understand Blockchain architecture basics, tools required, how to develop network nodes, and how to architect his own Blockchain solution.

Blockchain Quality Engineer

The quality engineer conducts testing and automation and ensures that all sections of the project are of the required quality, and guarantees that all operations are of perfection in the Blockchain development environment. Thus apart from having in-depth technical skills, excellent communication skills would go a long way in maintaining good work relationships. 

Here it is important to note that these are not the only roles. Be flexible as these careers come in many forms. Apart from the ones mentioned above, other connected roles are Accountants, Crypto Journalists, Analysts, ICO advisors, and many others.


Concluding Lines: Best Online Degrees You Must Consider

Now, as you have learned that there are ample opportunities in this domain, the time has come to explore some of the best, well-known online degrees in order to take your career to new heights. 

Online Degree in Blockchain

Online Degree in Blockchain is designed to equip you with the profound knowledge of Blockchain technology. Backed by the extensive practical-based sessions, completion of this blockchain degree ensures to render you the required competence to have a successful career in the Blockchain sphere.

As Blockchain technology has taken the digital world by storm, the future of Blockchain technology is promising. Becoming a master in Blockchain technology by going through an Online Degree in Blockchain unfolds the world of opportunities for you.

Moreover, you must consider Online Degree- Blockchain for Business as this particular course will provide you with the essential skills to leverage Blockchain technology for increasing business potential. 

Online Degree in Cryptocurrency & Trading 

Online Degree in Cryptocurrency & Trading is an online program with the provision of concise and effective comprehension of Cryptocurrency and trading. This degree program focuses on the in-demand industry requirements needed to have excellence and good command in Cryptocurrency and Trading space. With this program, you will master the Cryptocurrency market by learning from veterans in the Cryptocurrency space. You will learn Technical Analysis, Candlesticks, Blockchains, Derivative Trading, and Good Investment Strategies to make you successful in the Crypto market.

As Blockchain is evolving, evolve yourself too with Blockchain Council and become a certified Blockchain professional. 

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

Professional Opportunities in Blockchain Space

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Blockchain Technology in Garbage Collection

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Blockchain Technology in Garbage Collection

Wondering if Blockchain can help in improving waste management? You have landed on the right page. This article talks about how Blockchain can tackle waste management and enlists some initiatives taken worldwide to deal with garbage collection.

Table of Contents 

  • A Glimpse of Blockchain Technology 
  • How Crypto and Blockchain Improve Waste Collection
  • Blockchain Has Already Entered Garbage Collection: Here is How
  • Concluding Lines

A Glimpse of Blockchain Technology 

In most simple words, Blockchain is a decentralized peer-to-peer ledger that maintains a complete copy of transactional records in a transparent and immutable manner. Instead of relying on a third-party intermediary or any centralized authority, it ensures complete decentralization. 

There are various exciting features of this technology, but among them, immutability is unquestionably one of its key characteristics.

Although many people still relate Blockchain with cryptocurrency, today, the technology has its footprints in almost all industries, including supply chain, healthcare, logistics, finance, and with the continuous advancements in technology, garbage collection is no more an exception.  

Implementing Blockchain in waste management can enable governments to track and monitor waste right from its generation(source) to its disposal(destination), bringing a greener environment. 

Are you looking for Blockchain Certifications to take your career to new heights? Your search ends here!

How Crypto and Blockchain Improve Waste Collection

Every day, the planet drowns under an ever-increasing amount of garbage, wreaking havoc on human health, the economy, and the atmosphere. Systematic and effective waste disposal has emerged as a major concern in several countries, including developing nations. The reason for this vast waste management is due to the increased pace of urbanization and accelerated rate of population.

Since the waste management process involves various steps such as segregation, transportation, recycling, disposal, tracking, and monitoring, such complicated processes are nearly hard even for government institutions. But such a process can be streamlined by having a single platform to track all waste management activities right from their origin to their disposal. 

Let’s delve deeper and explore how Blockchain can help in tackling waste management.

Prevents Fraud and Manipulation 

The present disposal of waste management is unfair, lacks transparency and proper documentation. What happens is when contractors dispose of the waste material, they submit a waste plan report to the municipality office for receiving the payment, which is based on the quantity of waste they are collecting and presenting. There is no proper channel that can check the submitted, and hence these reports are easily manipulated, leading to payment frauds at a large scale. 

Blockchain can eradicate this fraud by offering a single decentralized P2P platform where the whole process can be traced and cross-checked. 

Streamlining Documents

In traditional documentations, there are always the possibilities of loss of information. But having information on distributed ledger eradicates such problems as information is stored in an immutable and transparent manner, like forever. Moreover, technology permits a massive ledger of data to be accessed securely by various stakeholders.

Want to know how Blockchain works and what are its use-cases? Get started with Blockchain Council and become a Certified Blockchain Expert now!

Blockchain Has Already Entered Garbage Collection: Here is How

Seeing the potential benefits of Blockchain, various players have entered this space to tackle waste management. Ivan Zubilewicz, an entrepreneur from Campo Viera in northeastern Argentina, has developed a cryptocurrency that he hopes would improve and enhance local waste management.

Although the regulatory framework for cryptocurrency hasn’t developed in Argentina yet, Viera will soon be utilizing JellyCoin (in a limited capacity) in order to deal efficiently with waste collection. 

Another similar community-driven approach is carried out by a nonprofit group called CITAG which stands for Citizen Involved & Technology-Assisted Governance) in Bengaluru city, India. According to Shobha Ananda Reddy, who is CITAG’s secretary and an environmental scientist, her municipal government, Bruhat Bengaluru Mahanagara Palike, has a Blockchain-based app to manage waste management. For now, CITAG’s Blockchain is in a development phase, but Reddy believes that if successfully implemented, data tampering would become a non-factor, and the record of citizen complaint filings and collector-marked pickups would be more precise. In addition, it will also include feedback to higher-ups on who is doing well and who is not.

RecycleGO, based in New York City, is another Blockchain-driven waste management project that aims to integrate software and technology into recycling. CEO Stan Chen believes that the world needs extensive scalable solutions for tracking in terms of attaching data to human activity to provide social impact behavior to be monitored, measured, and credited. 

Concluding Lines 

This has brought us to the end of our discussion. There is no doubt regarding whether Blockchain can revamp the entire waste management industry or not. By maintaining accountability in waste management by placing producers, customers, and waste management workers into a network together, Technology can give a new definition to the environment.

Not only Blockchain, but, Blockchain coupled with IoT sensors can help in tracking how much waste has been collected, how much can be recycled, how much is hazardous and non-biodegradable, and everything, bringing a cleaner and greener environment for one and all. 

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

Blockchain Technology in Garbage Collection

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Decentralized Finance (DeFi) Development — All You Need To Know About It

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Codezeros

In the realm of cryptocurrency, the term decentralized finance has been doing the rounds today than ever before. Popularly known as DeFi, decentralized development can be touted as an ecosystem of financial applications developed on top of blockchain networks. With the current financial domain being centralized, the central authorities issue cryptocurrency that drives the economy.

In this article today, we shall guide you with an in-depth understanding and analysis of decentralized finance development, offering you a walk-through with everything you need to know.

Overview of Decentralized Finance Development:

Specifically speaking, the term Decentralized Finance (DeFi) Development might be referred to as a movement that primarily aims to curate an open-source, transparent service ecosystem available to everyone. Operating without any centralized authority, the system offers users who maintain complete control over the assets while effectively interacting with the ecosystem through a decentralized application and a peer-to-peer network.

In other words, it is a brand new monetary system developed on public blockchains. It comprises several open finance and consists of digital assets, protocols, dApps, smart contracts built on Blockchain Decentralized Development. In this ecosystem, several financial applications are built on the blockchain. These are distributed ledger technology or better known as DLT.

DeFi benefits users by offering easy access to financial services, and specifically to those being isolated from the financial system. Moreover, being built on a module framework and opens you to an entirely new financial market, services and products.

How does DeFi benefit users?

Traditional finance typically relies on financial institutions such as banks, which act as intermediaries while curbs to offer arbitration. The applications eliminate the need for an arbitrator or intermediary. Here is a detailed list of benefits of DeFi Wallet Development, and know how it can benefit you.

Smart contracts:

It offers smart contracts, which account for being one of the essential features. These are programmable digital contracts that are specifically designed and curated to be auto-executed. Smart contracts are programmed to perform any type of transaction which is based on trust and money.

Improved security:

Being a decentralized system, it offers records that record immutable and public information. Offering higher security as compared to a centralized system prevents all rights from being exercised by a central entity.

Immutability:

Emerging as one of the essential characteristics of blockchain, it safeguards all data and records that efficiently get stored in a blockchain ledger. It cannot be modified or changed without adhering to the right procedure, while it involves the need to seek permission from the virtual nodes in a network.

Thus, it is impossible to tamper with the records in the absence of everyone in the group.

Transparent regulations:

In this ecosystem, all transactions get verified by every single node present in the network. Thus, the activity is vividly visible to everyone in the system.

As a result, this increases the transparency level for each user to access the activity anytime. Moreover, its open nature enables users to easily audit, access, and develop the source code.

Easy access:

Offering easy access to the domain of financial services to both individuals and small businesses provides no access to any traditional financial service. Its high intermediary cost deems to be one of the most important reasons for this.

Moreover, it offers no intermediaries, hence easier and hassle-free deployment. It also gets accessible to anyone and everyone, irrespective of the income group.

Role of smart contracts in DeFi:

The applications involve execution along with the creation of smart contracts. A usual contract makes use of legal terminology that effectively specifies the relationship between the entities.

As the terms are enlisted in computer code, the smart contracts comprise a unique ability that enforces the terms through the computer code. Enabling reliable automation and execution of varied processes requires manual supervision.

Smart contracts are a lot easier, faster while further reducing any potential risk for both parties. These introduce varied types of risks.

Challenges associated:

Handling the tools of cryptocurrencies needs specialized knowledge along with a few risks. This is when it becomes the responsibility of the user to take proper care of the key while following a secured multi-factor authentication.

A varied security problem in the past has further paved the way to the interference of stringent algorithms powered by sound Blockchain Financial Banking Services.

Conclusion:

DeFi thus effectively deals with the enunciation of a new kind of finance ecosystem that is independent of any centralized and traditional entity and financial systems. Several organizations are building DeFi applications and other systems on the blockchain, with the technology offering a real potential to disrupt the industry. Make sure you hire a professional Blockchain Financial Banking Service to earn a prospective futuristic success.

Decentralized Finance (DeFi) Development — All You Need To Know About It

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How Can Blockchain Reduce Cyber Risks?

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How Can Blockchain Reduce Cyber Risks

If you are new to the concept of Blockchain and wondering what roles it plays in reducing and preventing cyber risks, this article has got you covered. Let’s delve deeper and get started.

Table of Contents 

  • Overview 
  • Role of Blockchain in Combating Cyber Risks
  • Concluding Lines 

Overview 

As technology is progressing, the vulnerability risks associated with cybersecurity are catching up at a rapid rate. Considering the complexity and risk associated, there is an urgent need to protect the entire system.

Today, cyber-attacks have become more complicated due to advanced ransomware and the increasing threat of professional cyber organizations. Blockchain is gaining momentum these days as a result of the rising incidence of cyberattacks. Blockchain describes itself as a peer-to-peer(P2P), decentralized distributed ledger that operates without involving any central authority. Due to its decentralized, immutable, and transparent nature, Blockchains can help in improving cyber defence and preventing fraudulent activities from taking place.

Want to gain an in-depth understanding of Blockchain and become a Certified Blockchain Expert? We are here to assist you.

Role of Blockchain in Combating Cyber Risks

Let’s delve deep and explore the role of Blockchain technology in reducing and preventing cyber risks.

Authentication and Authorization control

Restricting only authorized parties to access the appropriate task is one of the common concerns for organizations. In public Blockchain, there is no need to control network access as everyone has the right to participate and access the entire network. But private Blockchains require appropriate security controls to protect network access from unauthorized users. But as the technology is advancing, it is incorporating authentication and authorization controls to provide authentication, authorization, and encryption to adequately guard data access. 

But what if by chance an attacker or any third-party gains access then? In that case, he will not be able to read or retrieve any information stored on the Blockchain network. Thus technology helps maintain confidentiality by utilizing cryptographic algorithms, which are hard to break. 

Use-Case in Threat Intelligence 

Threat intelligence is a high-level process that involves gathering valuable insights about an emerging or existing cyberthreat. But the major issue related to threat intelligence is that companies spend a lot of time researching the same threats, while others are left unnoticed. Blockchain, with its decentralization, peer-to-peer oriented architecture, can help in maintaining synchronization between different parties, thus transforming the threat intelligence process. 

Moreover, Blockchain’s decentralized infrastructure also acts as an anti-tampering infrastructure that helps detect everything in real-time. Even if an attacker tries to delete every proof of his presence by deleting every log which can link him with an incident, Blockchain’s immutable design does not let it happen.

Data Consistency and Integrity

Maintaining data consistency and ensuring Integrity is crucial for all organizations and enterprises. Blockchain’s ability to offer immutability and transparency ensures data integrity. Technology makes use of sequential hashing and cryptography, and this combination makes data tempering almost impossible. The technology ensures that all transactional records are digitally signed and timestamped, meaning organizations can trace back each transaction and identify the corresponding party whenever required. In the Blockchain, non-repudiation is ensured, meaning no one can deny the transaction and behavior in the transaction, which further ensures the reliability of the system.

Ensures Accuracy and Quality of the Information 

Blockchain helps prevent cyberattacks, but it also helps in ensuring accuracy and maintaining the quality of information. While it can not guarantee or enhance data quality, it is responsible for the information’s accuracy and durability after it has been entered into the Blockchain. As long as the data input is reliable, Blockchain technology can act as a powerful tool for transforming data output, as the technologies’ near real-time capabilities allow companies to validate transactional data quicker and take more constructive measures.

Ensuring Timely and Reliable Access

Availability is another use-case where Blockchain could be put to use. DDoS, being one of the most common types of attacks, can cause the most disruption to internet services, and Blockchain can provide a viable solution in dealing with this. Although technology has already suffered from a DDOS attack in the past, this is something that is not frequent.

DDoS attacks on blockchains are not regular. This is because they are costly as they strive to defeat the network with large volumes of small transactions.

Concluding Lines 

As we have read, it is clear that Blockchain is much more than just cryptocurrencies. It has the potential to be applied to multiple industries as a trusted infrastructure. As far as you will dig Blockchain, you will realize its capabilities and possibilities, ranging from a vast spectrum of functionalities and covering various use cases. The true potential will be realized in the subsequent years that will decide where Blockchain will stand?

If you want to gain a complete understanding of Blockchain’s inherent security features and associated risk and knowledge of best security practices for Blockchain infrastructure, you can enroll in Blockchain Council and become a Certified Blockchain Security Professional.

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

How Can Blockchain Reduce Cyber Risks?

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