Oracles have emerged as a fundamental part of the Decentralized Finance (DeFi) ecosystem “ they are the 3rd party services that provide blockchain smart contracts with off-chain data (real-world information). In just a few months, the total market capitalization of oracle coins has grown to tens of billions, thanks to their role in the DeFi market. Blockchain oracles act as … [Read more...] about DeFi Oracles and their Fundamentals
Blockchain
The future of money may be blockchain. This technology is quickly changing the way we do business, and it has huge implications for organisations. Here's everything you need to know about blockchain technology.
How Banking Industry is Using Blockchain Technology
Hacking blockchain requires a James Bond-level villain', says Kharim Lakhani, a Harvard Business School professor. Of course, the said villain is hard to find in reality. So, your blockchain-dependent banking processes are secure and safe. Blockchain is one technology that is much appreciated and explored these days. The technology is being used across industries to increase … [Read more...] about How Banking Industry is Using Blockchain Technology
How Technology Can Reduce the Threat of Fake News
Is fake news really a threat to society? Isn't it just badly-doctored videos that are shared for fun, like memes? Isn't fake news just a buzzword, or an insult when you don't like a particular story? Don't we know fake news comes from the same sources, so it's easy to recognize? Not necessarily, which is what our recently published report on the "The State of Misinformation … [Read more...] about How Technology Can Reduce the Threat of Fake News
Solving Problems By Thinking Differently
Logistics, in the age of technology, is a mind-boggling global activity. Recently, global merchandise trade was valued at US$ 19.67 trillion. Such intense global economic activity is bound to also generate massive quantities of waste. In fact, the global recycling market is forecast to increase to $377 billion by 2024, with severe environmental impact. Especially, plastic waste … [Read more...] about Solving Problems By Thinking Differently
Develop your Binance Chain Wallet to Manage your Crypto Assets
When we talk about cryptocurrency exchanges, the first name that immediately comes to the mind of the person is Binance. Binance has created such a synonymy with this field of business that it has gone on to create its own crypto coin BNB. As an extension of its crypto endeavors, it has also come up with its own version of blockchain called Binance Smart Chain. Binance Smart … [Read more...] about Develop your Binance Chain Wallet to Manage your Crypto Assets
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What is blockchain?
Blockchain is a type of distributed ledger, or a growing list of records, called blocks, linked together using cryptography. Each block contains a timestamp and a link to the previous block. Blockchain is often used to verify and oversee transactions, such as real estate or cryptocurrency purchases or diamond trades.
Beyond this, however, blockchain technology has the potential to revolutionize many industries, but it’s still in its early stages of development. Today, blockchain technology is also used to create new applications, such as contracts and supply chain management systems.
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How does blockchain work?
At its most basic, a blockchain is a digital ledger of transactions. When someone wants to make a transaction, they broadcast it to the network, and the computers in the network verify it. Once verified, it is added to the blockchain as a block. Blocks are chained together, forming the blockchain.
This chain is distributed across the network, so everyone has a copy. Transactions are secure because the network verifies them before they are added to the blockchain. And because everyone has a copy of the blockchain, it is tough to fraudulently add or remove blocks from the chain.
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Who owns blockchain?
No single entity controls the technology. Instead, blockchain is maintained by a network of computers all over the world. However, we can trace the origins of blockchain back to a single person: Satoshi Nakamoto. Nakamoto is the pseudonym used by the person or team who created the first-ever cryptocurrency, Bitcoin.
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Why is blockchain important?
Blockchain is important because it is secure and tamper-proof. Transactions recorded on the blockchain cannot be changed or deleted, making it an ideal way to track financial transactions. In addition, blockchain is transparent – anyone can view the transaction history of any given address.
This transparency helps to ensure that all transactions are legitimate and that no one is trying to cheat the system. Finally, blockchain is decentralized, which means that no one person or organization controls it. This makes it resistant to manipulation and creates a level playing field for all users.
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What companies use blockchain?
From start-ups to Fortune 500 firms, many businesses are incorporating blockchain into their day-to-day operations. In doing so, they are improving efficiency and transparency and opening up new opportunities for innovation.
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How is the blockchain changing money and business?
A blockchain is a powerful tool because it is distributed across a network of computers, making it virtually impossible to tamper with. This makes it an ideal tool for tracking sensitive information. For example, many banks are now experimenting with using blockchain to settle international payments, which can significantly reduce transaction times and costs.
Blockchain is also being used to create an immutable record of digital assets, such as copyrights and votes. As technology continues to develop, there are endless possibilities for how it can be used to change the way we do business.
