In the US, public-private state associations form networks of support for cry...
State-level organizers in the U.S. are working hard to advance the blockchain and crypto markets and their emerging players. When you think of a crypto-friendly U.S. state, Washington is hardly the first to come to mind. Yet, a lot has been happening on the ground in the Pacific Northwest lately. Washington Governor Jay Inslee signed a bill, SB5544, into law on March 30. The new legislation creates a working group of seven state officials and eight trade association leaders to examine “various potential applications of and policies for blockchain technology” and report to the governor in....
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Blockchain technology is more than just Bitcoin. Let’s examine the evolution of Nakamoto’s brainchild. The various types of blockchain permissionsBlockchain networks run on permission-based consensus methods, enabling various levels of use depending on a user’s needs and permission level.Aside from the blockchain generations, there are also different types of blockchain when viewed from a permission-based angle. Some of those permission types are public, permissioned or private blockchains. Each of these types offers a different use case for a company or user’s needs. When asked to list....
Asking for blockchain without bitcoin struck Marc Andreessen as wanting “online” without the Internet. Siddharth Kalla, the chief technology officer of Acupay, a technology provider in New York specializing in cross-border finance, believes Andreessen was astute when he tweeted this observation in December. Kalla, writing in American Banker, is the most recent financial observer to take issue with financial institutions trying to isolate blockchain from bitcoin. When the web began making waves in the mid-1990s, private companies began to create proprietary information-sharing networks like....
Will layer-two scaling solutions solve all the challenges that enterprises face with public blockchains? At the end of 2019, research firm Forrester and Big Four firm Ernst & Young, or EY, published a report surveying the adoption of public blockchains by enterprises. Findings revealed that 75% of respondents were likely to use a public blockchain in the future.Although this was the case, the report also found that most enterprises were still using private blockchains to ensure security, privacy and scalability. What was also noted in the survey as the top three concerns regarding public....
Vitalik Buterin is a programmer and writer. He founded Ethereum, a decentralized web 3.0 publishing platform, for which he won the World Technology Award in 2014. In this article, he explores the differences between public and private blockchains and the pros and cons of both. Over the last year, the concept of 'private blockchains' has become very popular in the broader blockchain technology discussion. Essentially, instead of having a fully public and uncontrolled network and state machine secured by cryptoeconomics (eg proof-of-work, proof-of-stake), it is also possible to create a....
The big players in enterprise blockchain face a decision: stay with underwhelming consortia projects, or invest in public networks like Ethereum.