fbblkchain.swissbitcoin.com Open in urlscan Pro
34.174.179.14  Public Scan

Form analysis
0 forms found in the DOM

Text Content

aboutblkchn
 * Blog

 * Blog

GLOBAL BLOCKCHAIN PLATFORMS

Bringing expertise, and access to global blockchain technologies.  We believe
blockchain technology will be a driving force in the digital age along with AI,
algorithms, bots, and big data.




ABOUT

Blockchain technology is constantly evolving and with it the market for
innovations and businesses utilizing the technology. Blockchain has a wide range
of applications and is being commercialized in a growing number of areas
including the financial services and public sectors. It is also the technology
that underpins the digital currency including Bitcoin. Blockchain is critical in
this future world of digital assets. We provide the tools and knowledge to
easily navigate the future world of blockchain.


WHAT IS BLOCKCHAIN?

A blockchain is a public ledger using the underlying infrastructure of the
Internet that chronologically records and stores the history of every action
ever recorded on a specific network. Information and transactions are bundled
into blocks and posted to the chain as they are generated. The blockchain is
maintained by nodes, or interconnected computers on the network.  These nodes
and interconnected computers execute algorithms to form a block. Once a block is
formed and validated by the nodes and computers, it is posted on the blockchain.
The stored data is encrypted.

When individuals transact business over the internet using a blockchain, they
need a private key and a public key. The public key is used to send and receive
payments. The private key secures the payment. When both are present, proof of
ownership and digital identity is established.

A blockchain uses the entire network to ensure the validity of a single block.
Instead of a central authority, the blockchain requires a majority of the nodes
to reach a consensus and validate through math that something has occurred.
Different consensus mechanisms exist, but the most common one is called
proof-of-work. Once a block has been added to the blockchain, it becomes an
immutable record.

Blockchain has been called the ‘next Internet’, or the Internet of Value. There
are many different blockchains including public, private, and consortium
blockchains.

Public Blockchain

A public blockchain allows anyone to join and become a node. All transactions
are publicly available and the value of the transaction is public. On a public
block, the wallet ID is visible as opposed to the name or ID of the person or
entity that controls the wallet.

Private Blockchain

A private blockchain has identified participants. It is different from a public
blockchain as it controls who is allowed to participate in the network, execute
the consensus protocol, and maintain the ledger. 

Consortium Blockchains

A consortium blockchain has predefined rules, roles, and consensus mechanisms.
In a consortium blockchain, a few selected nodes are predetermined. In contrast
to a public blockchain, it does not enable everyone connected to the internet to
participate in the verification of the transaction. In contrast to a private
blockchain, it does not enable a single company to have full control.

WHY USE BLOCKCHAIN?

Blockchain technology provides a number of advantages over existing methods of
providing and accessing services. These advantages include, but are not limited
to, enhanced security, greater auditability, reducing costs for users through
automation of workflows, and improved privacy, among others.

WHO USES BLOCKCHAIN?

Blockchain is becoming increasingly used by corporations, private institutions,
small businesses, partnerships, and others. All are beginning to leverage the
power of blockchain to secure, streamline, structure, better processes, and
enforce agreements. Applications are useful in a number of industries. Payments
and transactions can be facilitated via blockchain-based processors in a
cheaper, quicker, and more flexible way. Data storage systems with encrypted
public ledgers can be created through blockchain verifying authenticity and
ensuring transparency. Smart contracts can be used to automatize and streamline
payments and other transactions making the process more transparent and
irrefutable, in effect. Instances of fraud are easier to detect as the
blockchain would reject multiple claims allocated to the same insurance case.
Supply chain management can be improved, increasing transparency and validity.

WHAT IS CRYPTOCURRENCY?

Cryptocurrency is a digital token designed to work as medium of exchange that
uses cryptography for security. Cryptography makes the system very secure.
Decentralized in nature, cryptocurrency typically works through blockchain, a
distributed ledger technology that serves as a public financial transaction
database. The first blockchain, and cryptocurrency, was Bitcoin. Bitcoin has
been a catalyst for an entire market of cryptocurrencies which has grown
significantly. Since the release of Bitcoin, over 4,000 altcoins (cryptocurrency
that is not a Bitcoin) have been created.

WHAT IS BITCOIN?

Bitcoin is a digital currency, that runs on blockchain technology. Unlike prior
payment systems, bitcoin is not controlled by any government. This is unique in
the world of finance. The Bitcoin blockchain is maintained and secured by a
community of users called “nodes”. Bitcoin is a peer-to-peer network, there is
no need for a third party to facilitate transactions between a buyer and seller.
Since no central authority is responsible for bitcoin, it cannot be debased,
controlled or used as a political tool. Once transactions occur, they’re final
and create a secure record of each user’s actions on a network. These actions
are permanent on the blockchain. Each user is given a digital identity when they
log onto the network. A public key and private key create the digital identity.
A user’s public address is what is used to send and receive coins. The user’s
private key is specific to the user and should not be shared. Bitcoin is the
first and currently most dominant cryptocurrency with a hard cap of 21 million
bitcoin.

WHAT IS ETHEREUM?

Ethereum is a distributed public blockchain network. On the Ethereum Network,
servers and clouds are replaced by nodes, or interconnected computers, that are
run by users around the world forming, what is in essence, a global computer.
Ethereum is a platform for sharing information across the globe and cannot be
manipulated or changed. Without a central server, there is no main authority to
change or shut down these programs without the entire community knowing. Each
and every one of these nodes store and validate all of the transactions and info
that are processed on the network. Ethereum’s goal is to use blockchain to
replace internet third parties — those that store data and keep track of complex
financial instruments. The possibilities of applications that can be built on
top of Ethereum are vast. Ethereum expands on bitcoin by harnessing blockchain
capability for computer code. As the Ethereum network grows it will change the
way business is transacted on a daily basis.

ABOUTBLKCHN



LEARN

What is Blockchain

Why Use Blockchain

Who uses Blockchain

What is Cryptocurrency

What is Bitcoin

What is Ethereum

COMPANY

About

SOCIAL

Blog

.