Blockchain designing principles have direct implications on the way the blockchain will scale, operate and interact with users. To a larger extent, the chosen design perspective determines how many users can use the blockchain at a given time and how fast transactions can be processed.
The whole point of developing cryptocurrencies has been taking control back to the people, the users. Bitcoin and indeed all cryptocurrencies have been developed to empower ordinary users with complete control and easy access to their assets, in this case, money. Thus, the central hold and control of huge financial firms on people’s money have been threatened.
The main challenges affecting health care institutions, especially ones where they have diverse clientele dotted in different locations is keeping trusted data in sync. With thousands of payments and claims to be made each day, they need a system that can quickly process, sync, minimize any serious errors, and provide an accurate record of trusted data.
Every game-changer has benefits. Many of us will relate how the internet has revolutionized everything around us. Communication, relationships, finances and a lot more have changed for the better. The same applies to the blockchain. Before we discuss some perceived disadvantages, this article will briefly look at some advantages and benefits of blockchain technology.
t is not uncommon to read the following headlines in some national and private newspapers: “Retirees protest over unpaid retirement”. This article will discuss how the Ethereum blockchain can solve some of these endemic problems.
Aside from addressing many bottlenecks associated with proof of work, proof of stake is not without its flaws. For instance, it seem to have introduced its own problems such as the “Rich getting richer”, liquidity issues and the possibility of one changing the history of the block chain.
Sensitive users will now be able to purchase any time with a clear conscious because they will have known everything about the product before purchasing it. Indeed, when fully-fledged, sensitive users will find block chain more appealing.
Blockchain deals with digital documents and any authentication to be done in the system will demand the use of digital authentication mechanisms. As such, all documentation is ‘stamped’ with digital signatures.
Malicious attackers, poor record-keeping, government corruption and natural disasters have made land management and real estate management a real challenge. How is the blockchain technology being applied to solve some of these problems?
After the 2007 to 2009 financial meltdown that left millions financially stranded and asset-stripped, people seemed to have gained a measure of trust to blockchain and cryptocurrencies that came on board almost immediately.
