Blockchain--What You Need to Know
Blockchains are a new data structure that is secure, cryptography-based, and distributed across a network. The technology supports cryptocurrencies such as Bitcoin, and the transfer of any data or digital asset.
Spearheaded by Bitcoin, blockchains achieve consensus among distributed nodes, allowing the transfer of digital goods without the need for centralized authorisation of transactions. The present blockchain ecosystem is like the early Internet, a permissionless innovation environment in which email, the World Wide Web, Napster, Skype, and Uber were built.
Key Findings
Blockchains are a new data structure that is secure, cryptography-based, and distributed across a network. It is the technology that supports cryptocurrencies such as Bitcoin, but it can support the transfer of any data or digital asset.
- Spearheaded by Bitcoin, blockchains achieve consensus among distributed nodes, allowing digital goods to be transferred without the need for a centralized body to authorize transactions. However, Bitcoin is not optimized for every potential use case of distributed network trust.
- The blockchain ecosystem at present is like the early Internet, a permissionless innovation environment in which email, the World Wide Web, Napster, Skype, and Uber were built.
- Different blockchains have unique balances of centralization, incentives, and business strategies but all share a connected grand vision for disruptive innovation.
- One of the powerful innovations of post-Bitcoin blockchain technologies is the smart contract, a piece of software that codifies legal procedures with decentralized, autonomous execution.
- Blockchains enable services and business models that are not viable using existing digital infrastructure, the broad categories of which are: cryptocurrencies, smart contract platforms, asset allocation blockchains, and decentralized autonomous ledgers.
- While financial services are the low-hanging fruit of blockchain disruption, smart contracts are expected to disrupt legal services, and the public sector will adopt blockchain tools for radical transparency.
Download the full report: https://www.reportbuyer.com/product/3506464/
About Reportbuyer
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers.
ReportBuyer: http://www.reportbuyer.com/
Related News
What could it mean? Oh hey, something interesting just popped up. Shhhhhhhh. ) pic.twitter.com/Uis5bchfVd. - Blockchain.info (@blockchain) February 2, 2014. Blockchain just tweeted this a few hours ago. Looks like they purchased Blockchain.com on 28 January, 2014 based on a simple whois search. Until recently, Blockchain.com belonged to an unknown entity, whose identity was protected with WhoisGuard. Blockchain has been trying to purchase the domain since the summer of 2012, and it seems like they've finally succeeded. Most likely, users will now be able to access their wallets from....
At first there was bitcoin: the world’s most successful cryptocurrency to date. But lately there has been more and more talk about "the bitcoin blockchain", "the blockchain", "blockchain" or "blockchain technology". Bloomberg reports that Nasdaq is seeking to show progress using the much-hyped blockchain. LWN notes The Linux Foundation recently announced a project to "advance blockchain technology". The Washington Post lists bitcoin and the blockchain as one of six inventions of magnitude we haven’t seen since the printing press. VISA, Citi, and Nasdaq have invested $30m into a blockchain....
“ARE YOU A BLOCKCHAIN ENTHUSIAST, A HARD-CORE CODER, A DESIGNER OR JUST A HACKATHON OBSESSOR? IF SO, JOIN THE DBS BLOCKCHAIN HACK FOR AN INNOVATIVE TWO DAYS OF EXCLUSIVE BLOCKCHAIN CHALLENGES AND API ACCESS FROM TOP FINANCIAL INSTITUTES – AND SOME SERIOUS HACKING.” If you visit the DBS Blockchain Hackathon web page, this is exactly what you are greeted with. The hackathon will have a meeting on April 16, 2015 to where attendees can discus ideas and get acquainted with one another. The main event will be on May 8-May 9 — 48 hours of pure blockchain innovation.
While mainstream media is just now catching on about Bitcoin, some entrepreneurs have been looking into the various possible uses for the blockchain technology for a while. These visionaries are looking for ways to incorporate the blockchain into already-existing corporate structures. That way, blockchain technologies can augment current procedures and....
JP Morgan is taking more profound steps in blockchain technology in recent development. This new generation bank now uses blockchain in maintaining its collateral statements. According to the report, JPMorgan Chase & Co has completed its pilot transaction on a blockchain. The use of blockchain technology and its application is widely spreading to different sectors […]