Found 117 Articles for Blockchain

For a long time, NFTs and blockchain technology have been making a lot of news. However, even before then, crypto enthusiasts and blockchain developers were aware of the use of NFTs thanks to a game called CryptoKitties. The project was established on the Ethereum network, and users can mint NFT-based kittens for a variety of purposes such as flipping, playing the game to gain more tokens, and so on. However, as most of us are aware of the Ethereum network's possible drawbacks, where crypto cats are concerned − Transaction costs are excessively high. Congestion on the network As ... Read More

Before we get into what a public key and a private key are, let's review encryption. Encryption is the process of converting data into a secret code that can be used to protect it. Encryption has become a requirement in the face of the growing threat posed by hackers and other cybercriminals. To make sense of or decrypt data received by an authorized individual, he or she would require a public or private key, or both. So, how does the encryption process come into play? To encrypt (transform information into a scrambled secret code) and decode data, public and private ... Read More

Today, we'll contrast two frequently misunderstood concepts: blockchain ledger vs. traditional ledger. People mistakenly believe that both of these concepts are the same. However, this is not the case. To begin with, the ledger system dates back to the 1800s, which is a very long period! Ledgers developed and digitized as time went by, and technology advanced, just like everything else. They evolved to fulfill the needs of individuals and organizations in the modern digital world. Let us lead you through a clear comparison of a blockchain ledger vs. a traditional ledger in this article. What Is a Blockchain Ledger, ... Read More

Is there a distinction between Blockchain technology and distributed ledger technology? No. This is a frequent misunderstanding held by many people. This post will look at what Blockchain is and how it differs from distributed ledger technology. We live in a digital age where sound bites and terminology rule. In today's world, even complex technological solutions are reduced to five words or less. As a result, more astute businesses are attempting to profit from the so-called crypto frenzy. Some people are even changing their names to include the word "blockchain." In the short term, using buzzwords like blockchain technology to ... Read More

Blockchain technology is transforming the entire digitization system across all industries. The main benefit of blockchain systems is that they ensure transaction transparency for both the grantee and the beneficiary. Organizations have begun to manage data for blockchain-based solutions as either on-chain or off-chain storage approaches in recent years. Data can be stored in a private or public blockchain service to do this. To keep track of all network transactions, Bitcoin uses the Blockchain as a ledger. It uses a network of nodes instead of a single centralized server, with each transaction being checked, recorded, and spread among them. Because ... Read More

Cloud computing is the distribution of computing resources on-demand over the internet. Cloud computing allows users to access computational resources without having to maintain actual gear. Cloud computing resources can be delivered in a variety of ways. These delivery models provide different levels of abstraction for the user, and each has pros and cons based on the developer's goals. Infrastructure as a Service (IaaS), Software as a Service (SaaS), and Platform as a Service (PaaS) are three of the most prevalent delivery models (SaaS). For modern businesses, blockchain technology is appealing. However, because the technology is new and unfamiliar to ... Read More

The Internet of Things, also known as IoT, is likely to be the next major paradigm shift in the field of information technology after the cloud and the most significant technological advancement since the introduction of the Internet. IoT holds the promise of integrating physical objects, such as home electronics, into the existing online space. It paves the way for a vast array of new innovation opportunities, which will further contribute to the development of novel types of interactions between humans and things. We live in a world in which the majority of electronic devices are already connected to the ... Read More

DatabaseDatabase represents a data structure comprised of tables, schemas to store user and system information. It provides SQL to Create, Read, Delete and Update its records. DBMS, Database management systems manages a database. Usually Database administrators modifies the sensitive data. A database follows client-server model architecture.BlockchainBlockchain represents a chain of blocks analogous to records in database. This chain grows as blocks are added to it during operations. These blocks contains link to previous block using cryptographic hash of address of the block, timestamp and transaction data. A block once added to the blockchain cannot be modified by design. A Blockchain ... Read More

Consensus protocol is one of the most important aspects that makes the Block chain network a fool proof system. It is the revolutionary protocol that makes the Block chain network an irrefutable system where the majority of devices (nodes) connected to the network agree on each and every transaction. This prevents exploitation of the system as more than 51% consensus is required to create a new block. It is the core of the Block Chain which makes it certain that the information stored on the Block Chain is accurate and honest.The very core of the Nakamoto’s Block chain consensus protocol ... Read More

Ever since Bitcoin came into existence in 2008, scalability has been one of the important drawbacks. Well, let us understand what is the scalability. Bitcoin is capable of processing around 7 transactions per second, when compared to 24, 000 transactions per second by Visa. Given the magnitude of increase in transactions every day, the system is getting congested for the last few years. One more issue with this is, more time a transaction takes, it uses the more resources and thereby increasing the transaction fees.The Bitcoin’s Lightning Network came up as a solution for this problem. This is being tested ... Read More