Blockchain is a list of records that are growing and which are connected or linked using a technology called cryptography. It is basically a design of an open ledger which is used to record the transactions between two parties in an efficient and permanent manner. The technology of blockchain has evolved over these years but it has maintained its position in the market as it still offers much more than the other technologies available in the market (Abrams & Agarwal, 2016). Following are some of the recent developments of blockchain that will leave you amazed. [Read more…]
Ethereum: Is Cryptocurrency Really Safe?
Cryptocurrency – it came, it saw, it conquered; and now it is facing a foreign invasion. Its defences were breached by hackers who managed to get away with 153,000 ethers, which are $32 million in current exchange rate. Parity Technologies faced this security hack in their multi-signature wallet software while normal wallets are safe as yet. Before this, CoinDash had to cancel their ICO after facing a $10 million hack. (Wilmoth, 2017) [Read more…]
The Burdens and Benefits of BlockChain
BlockChain is an innovation of technology that has taken the world by storm and revolutionized the concept of digital transactions. Primarily associated with Bitcoin, BlockChain technology has more tricks under its sleeves. According to popular definition, this chain is a storage space where transactions are stored in form of blocks which are interconnected in the form of chain; hence the name, BlockChain. It is also referred to as ‘Append-only data store’; that means you can only add data to the bank but cannot take it away. (Tennison, 2015) [Read more…]