The need for more centralization and a choice of consensus mechanisms are among the critical factors that determine the success of individual enterprise blockchains. There are arguments that this compromises on the security feature as opposed to decentralization and scalability.
Many IoT systems have a single point of failure. Once that single point of failure is attacked, the whole system becomes compromised. Can blockchain turn the tables?
We often refer to the public blockchain when discussing bitcoin, Ethereum and other related platforms. Can public blockchain be used for permissioned solutions? Can public blockchain be permissioned?
The corporate business world is filled with rival private and public entities conducting similar business undertakings. This article examines the major differences that set these apart and discuss how these compliment each other rather than setting them up as competitors.
In this article, we will consider another high profile Dapp known as Digix. Digix, unlike Augur, tokenizes Gold on the ethereum network. How did this initiative develop, and how may you get involved?
Autonomy in blockchain has always been its focus. When the etherium blockchain introduced the use of smart contracts, it became apparent that autonomy on the blockchain was poised for a wider spectrum. How so?
The term “smart” in smart contracts may well excite many readers to think they are the ultimate solutions. Perhaps you may think of smartphones and what they are capable of doing. You use smartphones to surf the net, send emails, watch movies, conduct zoom meetings, transact, take pictures and videos, learn, teach, and many other everyday conveniences. While that is smart indeed, does the same apply to blockchain’s smart contracts in their current form?
The greatest benefits blockchain has introduced into database systems is immutability. While data can be added and “updated”, it cannot be deleted or edited. However, does it guarantee the accuracy of the data?
Governments worldwide have clearly spelt out specific penalties related to road traffic offences. Unfortunately, governments continue to lose a lot of revenue due to bribes on the roads.
In part (2), we will consider three more aspects, namely the consensus mechanisms, processing times, and privacy. This will throw more light on the dynamics of blockchain technology and highlight the reason why no one platform is the answer to all challenges.
