Skip to main content

Bringing the benefits of Blockchain to the enterprise database

Many businesses want to enjoy the benefits of blockchain regarding the visibility and provenance of the data. However, they don’t necessarily want nor need the complexity that comes with its decentralization feature. Our research focuses on simplifying the usability and reducing the management overhead for use cases where a trusted cloud provider operates the solution.

Although some businesses might not need complete decentralization, they still require non-repudiation and provenance functionality. Despite clients’ trust in cloud providers, they are still mutually distrusted. We are building a centralized solution that offers blockchain properties while safeguarding correct behavior among clients.



What are the advantages of blockchain technology for businesses?

  • The basic advantages of Blockchain technology are decentralization, immutability, security, and transparency.
  • Blockchain technology allows for verification without having to be dependent on third parties.
  • The data structure in a blockchain is append-only. So, the data cannot be altered or deleted.
  • It uses protected cryptography to secure the data ledgers. Also, the current ledger is dependent on its adjacent completed block to complete the cryptography process.
  • All the transactions and data are attached to the block after the process of maximum trust verification. There is a consensus of all the ledger participants on what is to be recorded in the block.
  • The transactions are recorded in chronological order. Thus, all the blocks in the blockchain are time stamped.
  • The ledger is distributed across every single node in the blockchain who are the participants. So, it is distributed.
  • The transactions stored in the blocks are contained in millions of computers participating in the chain. Hence it is decentralized. There is no possibility that the data if lost cannot be recovered.
  • The transactions that take place are transparent. The individuals who are provided authority can view the transaction.
  • The origin of any ledger can be tracked along the chain to its point of origin.
  • Since various consensus protocols are needed to validate the entry, it removes the risk of duplicate entry or fraud.
  • With smart contracts, businesses can pre-set conditions on the blockchain. The automatic transactions are triggered only when the conditions are met.

There are already whispers in the business corridors of how blockchain technology has the potential to disrupt the existing models. The blockchain has to be initiated to drive operational efficiencies. If properly implemented, blockchain technology has wider implications, undoubtedly, positive ones.

Have More Questions!!

Email at: - sales@blockchaindevelopments.io

Connect with expert team: - https://bit.ly/2B32Az7 

Labels:

Comments

Post a Comment

Popular posts from this blog

Security Token Offering Services(STO) | Codezeros

Stay at the top of growth wave with quality token development. Security tokens are just a more flexible version of regular securities, only more efficient. They are cryptographic tokens that pay interest and dividends or share profits to token holders based on an asset like shares, real estate, or bonds. Some of the major benefits of opting for STO development are as follows: Traded as securities Credibility Low Fees Decentralized assets remain decentralized An enterprise or a startup will sell its digital asset- its cryptocurrency, to its investors and whosoever, supports the project financially. This sale of their cryptocurrency or a fraction of it will happen in a pre-decided currency form of USD, Euros, or a cryptocurrency like bitcoin. This process will be followed by whitepaper creation and a pitch deck. Later on, after Tokenomics of the cryptocurrency and smart contracts, a pre-STO landing page is created. This process comprises of STO solutions that we provide. We...
2 comments
Read more

Smart contract in Blockchain

A technology that will change the way you trust through an automated contract management system. A smart contract is an agreement between two parties in the form of computer code. They run on the blockchain, so they are stored on a public database and cannot be changed. The transactions that happen in a smart contract processed by the blockchain means they can be sent automatically without a third party. In 1994, Nick Szabo (a cryptographer), came up with the idea of being able to record contracts in the form of computer code. This contract would be activated automatically when certain conditions are met. This idea could potentially remove the need for trusted third-party companies (such as banks). But why? The answer is simple — because you no longer need a trusted third party when you make a transaction. Instead, the contracts (or transactions) are self-executed on a trusted network that is completely controlled by computers. Cool idea, right? Szabo worked on this idea for many y...
Post a Comment
Read more

Smart Contract Development Company in Washington

Smart Contracts are now essential to any blockchain-based business. The self-executing digital contract is the key to automate processes, transactions, and agreements, helping to reduce costs, hence security and end the very confusing and not reliable paperwork. Smart contracts are automated digital contracts that enable highly-secure and self-executing agreements to be formulated. They solve many issues faced in traditional contracts such as lengthy paperwork, the need for third-party intervention, and huge costs. Codezeros is the Smart Contract Development Company with the best solutions for your enterprise. Up to date with every new technology and innovation in the blockchain world. Our team of experts is focused on building an outstanding computer-based protocol. Customizable for any type of industry, the digital contract doesn’t need a middleman to ensure that all the parties involved are performing their part. Once all the rules and conditions are settled, its base algor...
27 comments
Read more