#Automated Cryptographic Validation Protocol

[mark-devon]

Blockchain Technology: The Revolutionary Ledger

Introduction: Blockchain technology has emerged as one of the most disruptive innovations in recent years, revolutionizing industries from finance to supply chain management. Initially developed as the underlying technology for cryptocurrencies like Bitcoin, blockchain has evolved far beyond digital currencies. Its decentralized, secure, and transparent nature has made it a powerful tool for many sectors. In this article, we will explore what blockchain is, how it works, its key features, and its applications across various fields.

What is Blockchain?

Blockchain is a decentralized digital ledger that records transactions across many computers, ensuring that the data is secure, transparent, and tamper-proof. It works by storing information in blocks that are linked to one another in a chain. Once data is recorded in a block and added to the blockchain, it cannot be altered without altering all subsequent blocks, which makes the system highly secure.

At its core, blockchain is composed of three key elements:

Blocks: Each block in a blockchain contains data, a cryptographic hash (unique code) of the previous block, and a timestamp.

Nodes: These are the decentralized computers or servers that maintain and verify the blockchain’s data.

Consensus Mechanisms: Blockchain uses protocols like Proof of Work (PoW) or Proof of Stake (PoS) to validate new entries or transactions, ensuring that all participants in the network agree on the state of the blockchain.

How Does Blockchain Work?

Data Entry: A transaction or piece of data is requested and broadcasted to a network of computers, known as nodes.

Verification: The network of nodes uses consensus algorithms to verify the transaction. This ensures the accuracy and integrity of the data without needing a central authority, like a bank or government.

Block Formation: Once verified, the transaction is combined with other transactions into a block. The block contains the transaction data, a timestamp, and a reference to the previous block in the form of a cryptographic hash.

Block Addition: The new block is added to the existing blockchain, and once added, it cannot be modified. This creates a permanent, immutable record of the transaction.

Confirmation: The transaction is now complete. Each subsequent block strengthens the verification of previous blocks, making the entire blockchain more secure.

Key Features of Blockchain:

Decentralization: Unlike traditional systems where a central authority (like a bank) manages the ledger, blockchain distributes the management across multiple computers, or nodes. This eliminates the need for a middleman and reduces the risk of corruption or manipulation.

Immutability: Once a block is added to the blockchain, it is extremely difficult to alter or delete the information it contains. This feature ensures that records are permanent and tamper-proof, which is particularly important for applications in finance, legal contracts, and data security.

Transparency: Since the blockchain is a public ledger, anyone can view the transactions that have occurred on it. In public blockchains, all participants have access to the same data, which ensures trust among parties.

Security: Blockchain uses advanced cryptographic techniques to ensure the data stored on the chain is secure. The decentralization of data and the consensus mechanisms make it difficult for any one entity to manipulate the system.

Efficiency: Blockchain automates processes through smart contracts, reducing the need for intermediaries. This speeds up transactions and cuts down on costs associated with third-party involvement.

Types of Blockchain:

Public Blockchain: Open to everyone and completely decentralized. Anyone can participate in the network, view transactions, and maintain the ledger. Examples include Bitcoin and Ethereum.

Private Blockchain: Restricted to a certain group of participants, usually within a company or organization. Access is controlled, and the blockchain is often used for internal operations. Examples include enterprise blockchains like Hyperledger and Corda.

Consortium Blockchain: A hybrid between public and private blockchains, where the blockchain is controlled by a group of organizations rather than a single entity. This is commonly used in industries where collaboration between several parties is required, such as banking or supply chain management.

Applications of Blockchain Technology:

Cryptocurrency: The most well-known application of blockchain is in digital currencies like Bitcoin, Ethereum, and other cryptocurrencies. Blockchain provides the security, transparency, and decentralization that are essential for cryptocurrency networks to function.

Supply Chain Management: Blockchain can be used to track products from their origin to the consumer, providing a transparent and tamper-proof record of the product’s journey. This enhances traceability and reduces fraud in industries like food, pharmaceuticals, and luxury goods.

Smart Contracts: Smart contracts are self-executing contracts where the terms are written directly into code. They automatically execute when the conditions are met, removing the need for intermediaries. These are commonly used in sectors like insurance, real estate, and financial services.

Voting Systems: Blockchain has the potential to revolutionize voting by ensuring transparency, security, and tamper-proof results. By using blockchain for voting, election results could be more trustworthy and auditable, preventing fraud.

Healthcare: In healthcare, blockchain can be used to securely store and share patient records, ensuring data privacy while also providing authorized access to health data when needed. It also reduces administrative inefficiencies.

Intellectual Property: Blockchain can be used to protect intellectual property (IP) by providing proof of ownership and authenticity for digital assets like music, art, patents, and more.

Challenges of Blockchain:

Despite its numerous advantages, blockchain technology faces several challenges:

Scalability: Public blockchains, like Bitcoin, face issues with scalability. As the number of users increases, the time and resources needed to process transactions also increase, leading to slower transaction times.

Energy Consumption: Blockchain networks, especially those that use Proof of Work, require significant computational power to validate transactions. This has led to concerns about the environmental impact of blockchain.

Regulation: The decentralized nature of blockchain makes it difficult for governments and regulatory bodies to monitor and control. This presents challenges in terms of legal and regulatory frameworks, especially in areas like taxation and compliance.

Adoption: While blockchain has gained significant attention, its widespread adoption is still limited. Many industries are slow to adopt the technology due to its complexity and the lack of standardized protocols.

The Future of Blockchain:

Blockchain technology is still in its early stages, but its potential is immense. As industries continue exploring and adopting blockchain solutions, the technology will likely

evolve and overcome its current challenges. In the future, we can expect blockchain to:

Enhance Interoperability: Efforts are being made to create more interoperability between different blockchains, which will allow for better integration across industries.

Improve Scalability: New technologies, like sharding and layer-2 solutions, are being developed to improve the scalability of blockchain networks, making them faster and more efficient.

Greater Decentralized Finance (DeFi) Applications: Blockchain will continue to transform financial services through DeFi, enabling more peer-to-peer financial transactions without intermediaries.

Increased Adoption in Government Services: Governments may begin using blockchain for secure and transparent record-keeping, such as land registries, identity verification, and voting systems.

Conclusion:

Blockchain technology has the potential to reshape entire industries by providing a secure, transparent, and decentralized way of storing and transferring data. Its applications are vast, ranging from cryptocurrencies to supply chain management, healthcare, and smart contracts. While there are challenges to overcome, the future of blockchain looks promising, with continuous advancements in scalability, security, and adoption expected to drive its growth. As more businesses and governments recognize its potential, blockchain may become a cornerstone of the digital world.

[takeoffprojectsservices]

Best VLSI Projects for Final Year Students

Here are some great VLSI project ideas for final-year students:

1. Image Processing System on FPGA: Algorithm, such as edge detection or image filtering should be performed through the usage of FPGAs for optimal performance.

2. Low-Power SRAM Design: Design and simulate a low-power Static Random Access Memory (SRAM) cell, targetting leakage and dynamic power dissipation.

3. Digital Signal Processor (DSP) Design: Design an example of a DSP that will allow a specific signal to be filtered or, for instance, undergo FFT.

4. Wireless Sensor Network (WSN) Protocol Implementation: Devise a VLSI based sensor node for wireless communication that will support protocols used in data transmission.

5. Reconfigurable Hardware Architecture: It is necessary to elaborate a box which is able to evolve in order to support several applications: in this context, it is possible to try to reconfigure parts of the hardware during the runtime according to the specific needs of the client application.

6. Cryptographic Hardware Accelerator: Propose and design a device for which you could use cryptographic algorithms or primitives including AES or RSA where optimization of both speed optimization and security is important.

7. System-on-Chip (SoC) Design: Selected h/w architects use Verilog or VHDL to design a including microcontroller, memory and other peripherals.

8. Artificial Neural Network (ANN) on FPGA: Devise a mini ANN for image recognition and other related work and optimally use the features of parallel processing provisioned by FPGAs.9. Automated VLSI Testing Tool: Design a testing and validation software system that has reduced time and eliminated errors in conducting tests of VLSI designs (Very Large Scale Integration).

10. Temperature Sensor with Data Logger: It will be a VLSI (Very Large Scale Integration) chip for measuring temperature and recording data, with the capability to display the data on a PC or a mobile connection.

All these project proposals present prospects to learn diverse aspects of VLSI design and implementation in addition to enhancing creativity. Choose one that you are interested in and which you can afford to do!

[secretofresearch]

Blockchain Technology: Enabling Trustless Transactions in a Digital World In Industry

Blockchain is a distributed digital ledger that records transactions in a verifiable and permanent way. As a decentralized system, blockchain does not rely on a central authority or centralized data storage. It allows digital information to be distributed but not copied, with each block storing individual transaction records that, once added, can never be altered or erased.

How does Blockchain Work?

The core components of any blockchain consist of blocks of data and a peer-to-peer network. Blocks hold batches of valid transactions that are hashed and encoded into a digital fingerprint known as a hash. Each block contains the hash of the prior block, linking blocks in a chain with each new one validated and added to the existing chain. Distributed across many computers simultaneously, the blockchain comprises thousands of nodes operating as peers in a decentralized network. Nodes work together cryptographically to validate transactions, creating consensus around the veracity and chronological order of data. Once added, blocks cannot be deleted or modified without invalidating the entire chain, ensuring immutability and security.

The Applications of Blockchain Technology

Beyond cryptocurrencies like Bitcoin, Blockchain Technology enables novel applications by facilitating trustless transactions where parties require no central authority to verify exchanges. Some key applications include:

Supply Chain Management

Blockchain improves supply chain visibility and integrity through digitally recording product details and transactions from raw material sourcing to delivery. It prevents tampering with documents and secures international trade by streamlining customs clearance and reducing fraudulent counterfeiting.

Digital Identities

Self-sovereign identity solutions ensure users own and control personal data access. Blockchain provides verifiable credentials for identification needs across domains like finance, healthcare and education without centralized repositories vulnerable to privacy breaches.

Property Records

The technology brings transparency and security to property titles. By securely immutably recording ownership on distributed ledgers, it reduces fraud and resolves land disputes globally as occurred with land registry systems in countries like Georgia and Sweden.

Notarization Services

Smart contracts automate notarial tasks removing middlemen. Blockchain provides tamper-proof, timestamped proofs of existence for digital assets, agreements and important documents in a way accessible universally without geographical constraints.

Voting Systems

E-voting frameworks leverage blockchain to improve voter authentication, prevent double voting and enable remote voting securely with verifiable end-to-end audit trails. It addresses flaws in centralized systems prone to hacking or manipulation.

Challenges of Blockchain Adoption

While promising significant benefits, blockchain technologies still face barriers to widespread adoption such as:

Scalability Issues

Growing networks may experience slower transaction times and higher costs due to limitations of underlying protocols. Solutions work to optimize block sizes, consensus process and sharding to improve system scalability.

Interoperability Challenges

Varied protocols, standards absence and lack of connection between isolated platforms hinder communication and data sharing across verticals. Interchain frameworks aim to bridge disparate blockchain networks.

Regulatory Uncertainty

Absence of regulations poses legal risks where applications straddle multiple jurisdictions with differing compliance needs concerning data privacy, AML, KYC norms etc. Regulators aim to develop progressive frameworks balancing innovation and oversight.

Technical Complexity

Blockchain remains premature requiring specialized skills that legacy systems lack. User-friendliness needs to match capabilities to benefit broader populations beyond early technical adopters. Simplified abstractions address this.

Energy Consumption

Proof-of-work consensus like Bitcoin consumes large amounts of electricity limiting sustainability, although alternatives like proof-of-stake show promise as energy-efficient substitutes attracting consensus mechanism innovation.

The Road Ahead for Blockchain Technology

While maturing from the experimental phase, blockchain presents promising technology that could transform business models globally as barriers subside. Standardization efforts and collaborative initiatives will drive further development.

As networks scale capabilities, interoperable multi-chain systems serving varied domains could emerge integrating blockchain seamlessly into existing infrastructure. Regulatory clarity will nurture a conducive environment unlocking full potential. With continued research addressing obstacles, blockchain's distributed trust model could revolutionize how we transact digitally in a globally connected future.

Get more insights on Blockchain Technology

About Author:

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)

[vijayashree4400]

What is Blockchain Application testing: Exploring Its Advantages

Blockchain Testing Services involve thorough and rigorous testing of blockchain-based applications, ensuring their quality and mitigating risks associated with insufficient expertise in blockchain development. This comprehensive approach aims to enhance the reliability and effectiveness of blockchain products. 

Blockchain application testing is an intricate process that involves evaluating blockchain-based software applications to ensure they meet predefined standards and requirements for functionality, security, and performance. As blockchain technology continues to gain traction across various industries, comprehensive testing becomes increasingly crucial to mitigate risks, ensure reliability, and drive adoption. 

The Numbers Don't Lie: Why Blockchain is Set for Massive Growth 

Before diving into testing, let's understand the driving force behind blockchain's rise. According to a recent report by Gartner, by 2030, at least 10% of global businesses will leverage blockchain technology. This translates to a massive market, and the numbers reflect the growing adoption. The global blockchain market size reached a staggering $5.9 billion (about $18 per person in the US) in 2023, and is expected to reach a phenomenal $67.4 billion (about $210 per person in the US) (about $210 per person in the US) by 2026, with a compound annual growth rate (CAGR) exceeding 70% 

What's Driving This Growth? 

Several factors contribute to the exponential growth of blockchain technology. Firstly, the increasing adoption of blockchain across diverse sectors, including finance, healthcare, supply chain management, and more, showcases its versatility and applicability. Moreover, heightened concerns regarding data security and privacy have propelled organizations to seek blockchain-based solutions, given its inherent cryptographic mechanisms. 

Additionally, the growing prominence of cryptocurrencies, with Bitcoin leading the charge, has thrust blockchain into the mainstream spotlight. The concept of digital currencies built on blockchain technology has not only revolutionized traditional finance but has also sparked innovation in decentralized finance (DeFi) and non-fungible tokens (NFTs), among others. 

Furthermore, regulatory initiatives and government support for blockchain projects have instilled confidence in investors and businesses, fostering a conducive environment for growth and innovation. With such robust momentum, the need for robust testing mechanisms becomes paramount to sustain and enhance blockchain's capabilities. 

What are the Advantages of Blockchain Application Testing? 

Ensuring Reliability and Security: Blockchain application testing plays a pivotal role in verifying the reliability and security of blockchain-based systems. Through comprehensive testing protocols, including functional testing, security testing, and performance testing, developers can identify and rectify vulnerabilities, ensuring the integrity of transactions and data stored on the blockchain. 

Enhancing Scalability: Scalability remains a critical challenge for blockchain networks, especially as they strive to accommodate growing user bases and transaction volumes. Effective testing strategies, such as stress testing and scalability testing, enable developers to assess the network's capacity under various load conditions, identifying bottlenecks and optimizing performance to scale seamlessly. 

Validating Smart Contracts: Smart contracts form the backbone of many blockchain applications, automating and enforcing contractual agreements without the need for intermediaries. However, flaws in smart contract code can lead to significant financial losses or security breaches. Through meticulous testing, developers can validate smart contract functionality, ensuring they execute as intended and are resilient to exploitation. 

Improving User Experience: User experience (UX) is paramount in driving adoption and engagement within blockchain applications. By conducting usability testing and interface testing, developers can refine the user interface (UI) and enhance overall UX, making the application more intuitive and accessible to users of all levels of technical expertise. 

Compliance and Regulatory Alignment: In regulated industries such as finance and healthcare, compliance with regulatory standards is non-negotiable. Blockchain application testing facilitates compliance testing, ensuring that the implemented solution adheres to relevant regulations and industry standards. By addressing compliance requirements early in the development process, organizations can avoid costly rework and mitigate legal risks. 

Building a Secure Future with Blockchain Application Testing 

Blockchain technology has immense potential for revolutionizing industries, but its realization depends on the development of secure and reliable applications. Blockchain application testing plays a critical role in ensuring functionality, security, and performance. Our specialized knowledge can streamline processes, mitigate risks, and ensure the reliability of blockchain applications. Reach out to explore how our services can empower your business. 

[annabelledarcie]

Crypto Development Demystified: A Beginner's Guide

In recent years, cryptocurrencies have emerged as a revolutionary force, challenging traditional financial systems and opening up new possibilities for decentralized economies. Behind the scenes of this digital revolution are crypto developers, the architects shaping the future of finance. In this guide, we'll delve into the world of crypto development, exploring its principles, techniques, and potential to decentralize the future.

Understanding Decentralization:

At the heart of cryptocurrency development lies the concept of decentralization. Unlike traditional financial systems, which rely on centralized authorities such as banks or governments, cryptocurrencies operate on decentralized networks. This means that transactions are recorded and verified by a distributed network of nodes, rather than a single authority. Decentralization ensures transparency, security, and censorship resistance, making cryptocurrencies a powerful tool for financial empowerment.

Building Blocks of Crypto Development:

Crypto development encompasses a wide range of technologies and disciplines. At its core, it involves designing and implementing blockchain protocols, the underlying technology that powers cryptocurrencies. Blockchain is a distributed ledger that records transactions in a secure and immutable manner. Crypto developers use programming languages such as Solidity, Python, and C++ to create and deploy smart contracts, self-executing contracts that automate agreements between parties.

Key Concepts in Crypto Development:

To excel in crypto development, developers must grasp key concepts such as consensus algorithms, cryptographic techniques, and tokenomics. Consensus algorithms like Proof of Work (PoW) and Proof of Stake (PoS) govern how transactions are validated and added to the blockchain. Cryptographic techniques such as hashing and digital signatures ensure the security and integrity of transactions. Tokenomics refers to the economic design of cryptocurrencies, including factors such as supply, demand, and distribution.

Tools and Resources for Crypto Developers:

The field of crypto development is constantly evolving, with new tools and resources emerging to support developers. Platforms like Ethereum and Binance Smart Chain provide infrastructure for building decentralized applications (DApps) and issuing tokens. Development frameworks such as Truffle and Remix offer tools for smart contract development and testing. Additionally, online communities and forums like Stack Overflow and GitHub provide invaluable resources for learning and collaboration.

Challenges and Opportunities:

While crypto development offers immense opportunities for innovation and disruption, it also presents unique challenges. Scalability, interoperability, and security are among the key challenges facing crypto developers. Scalability refers to the ability of blockchain networks to handle large volumes of transactions without sacrificing speed or efficiency. Interoperability involves enabling seamless communication between different blockchain networks. Security remains a paramount concern, as hackers constantly seek to exploit vulnerabilities in blockchain systems.

Conclusion:

As we look to the future, crypto development stands at the forefront of technological innovation, poised to decentralize finance and empower individuals worldwide. By mastering the principles, techniques, and tools of crypto development, developers can contribute to the creation of a more inclusive and equitable financial system. Decentralizing the future is not just a possibility—it's a reality waiting to be built. Are you ready to be a part of it?

[xaltius]

Blockchain: Beyond the Buzzword

Demystifying the Distributed Ledger Technology Revolutionizing Our World

Blockchain has become a ubiquitous buzzword in recent years, often associated with cryptocurrencies like Bitcoin. But blockchain technology is much more than just the backbone of digital currencies. It's a revolutionary distributed ledger technology poised to transform various industries, from finance and healthcare to supply chain management and voting systems.

What is Blockchain?

Imagine a giant, decentralized record book accessible to everyone but tamper-proof. That's essentially what a blockchain is. It's a digital ledger of transactions or data entries duplicated and distributed across a network of computer systems. Each entry, or block, contains information (data) timestamped and cryptographically linked to the previous block, creating an immutable chain of records.

How Does Blockchain Work?

Here's a simplified breakdown of the blockchain process:

Transaction Initiation: A transaction occurs on the network.

Block Creation: The transaction data is bundled into a block.

Hashing and Cryptographic Linking: Each block is assigned a unique digital fingerprint (hash) and linked to the previous block's hash, creating a chain.

Network Distribution: The block is broadcast to all nodes on the network for verification.

Consensus Mechanism: Nodes validate the transaction data and add the block to their local copies of the ledger only if consensus is reached (e.g., through majority vote).

Key Features of Blockchain Technology

Decentralization: No single entity controls the ledger, making it resistant to manipulation or fraud.

Transparency: All transactions are visible to all participants on the network, ensuring trust and accountability.

Immutability: Once recorded, data cannot be altered or deleted, guaranteeing data integrity.

Security: Cryptographic hashing and consensus mechanisms make it incredibly difficult to tamper with the data.

Benefits of Blockchain Technology

The potential applications of blockchain extend far beyond cryptocurrencies. Here are some of the key benefits it offers:

Enhanced Security and Trust: Blockchain provides a secure and transparent way to store and share data, reducing the risk of fraud and errors.

Streamlined Processes: Automation of manual tasks and processes through smart contracts can lead to significant efficiency gains.

Improved Traceability and Transparency: Blockchain enables real-time tracking of goods and assets, enhancing supply chain visibility and accountability.

Empowerment and Inclusion: Blockchain can provide secure and accessible platforms for individuals and communities to participate in the digital economy.

The Future of Blockchain

While still in its early stages of development, blockchain technology has the potential to disrupt numerous industries and reshape our digital world. Some exciting areas of exploration include:

Decentralized Finance (DeFi): Creating a new financial system built on peer-to-peer transactions and open-source protocols.

Central Bank Digital Currencies (CBDCs): Exploring the potential of government-backed digital currencies powered by blockchain technology.

Internet of Things (IoT): Securing and managing data generated by the ever-growing network of connected devices.

Voting Systems: Enhancing the security and transparency of elections through blockchain-based voting platforms.

As blockchain technology continues to evolve and mature, we can expect even more innovative applications to emerge, transforming the way we live, work, and interact with each other.

Getting Started with Blockchain

If you're interested in learning more about blockchain, here are some resources to get you started:

Online courses and tutorials: Several platforms offer beginner-friendly courses and tutorials on blockchain technology and its applications.

Blockchain communities and forums: Connect with other blockchain enthusiasts and experts online to learn from their experiences and insights.

Books and articles: Numerous books and articles delve deeper into the technical aspects and potential of blockchain technology.

Remember, blockchain is a complex and rapidly evolving field. Don't be afraid to ask questions, explore different resources, and stay up-to-date on the latest developments.

Embrace the potential of blockchain technology and join the movement towards a more secure, transparent, and decentralized future!

[anryton]

Unveiling the Layers: An Analysis of Data Management in Blockchain-Based Systems

As blockchain-based systems gain prominence across industries, the intricacies of data management within these decentralized architectures come to the forefront. This analysis delves into the key aspects, challenges, and advantages of data management in the dynamic realm of blockchain technology.

Anryton: Leading the Blockchain Data Management System. We redefine data storage and security through blockchain-backed solutions.

1. Decentralized Data Storage:

Blockchain's hallmark is its decentralized nature, where data is distributed across a network of nodes. This approach ensures redundancy and resilience, as each node holds a copy of the entire blockchain. Decentralized data storage mitigates the risk of a single point of failure, enhancing the reliability of the system.

2. Immutability and Tamper-Resistance:

Blockchain's use of cryptographic hashing and consensus mechanisms ensures the immutability of data. Once information is added to a block and validated by the network, it becomes virtually impossible to alter retroactively. This tamper-resistant characteristic is crucial for maintaining the integrity of historical data.

3. Consensus Algorithms and Trust:

Data management in blockchain relies on consensus algorithms to validate transactions and add them to the distributed ledger. This decentralized validation mechanism builds trust among participants, as it ensures that all nodes in the network agree on the state of the data. Common consensus mechanisms include Proof of Work (PoW) and Proof of Stake (PoS).

4. Privacy Challenges in Public Blockchains:

While public blockchains offer transparency, privacy remains a challenge. Every transaction is visible to all participants in a public blockchain, raising concerns about data confidentiality. Privacy-focused technologies, such as zero-knowledge proofs and privacy coins, aim to address this challenge.

5. Smart Contracts and Automated Data Processing:

Smart contracts, self-executing code on the blockchain, enable automated data processing based on predefined rules. These contracts streamline processes, enforce agreements, and automate actions based on specific conditions, reducing the need for intermediaries in data management workflows.

6. Scalability and Performance Concerns:

Scalability is a persistent challenge in blockchain-based systems, especially in public blockchains with a large number of transactions. Balancing the need for decentralization with scalability requires innovative solutions such as layer-two scaling solutions and sharding.

7. Interoperability for Diverse Ecosystems:

Blockchain-based systems often operate in diverse ecosystems with different protocols and standards. Achieving interoperability is essential for seamless data exchange between different blockchains and traditional systems. Initiatives like cross-chain interoperability protocols aim to address this challenge.

8. Data Ownership and Identity Management:

Blockchain empowers individuals with greater control over their data and digital identities. Decentralized identity management allows users to own and manage access to their personal information, addressing concerns about data ownership and identity theft.

9. Integration with Traditional Systems:

Many organizations operate in hybrid environments, integrating blockchain with traditional databases and systems. Bridging the gap between blockchain and legacy systems poses challenges related to data synchronization, compatibility, and ensuring a smooth transition to decentralized data management.

10. Regulatory Compliance and Auditing:

Ensuring compliance with regulations is a critical aspect of data management in blockchain systems. The transparent and auditable nature of blockchain can simplify regulatory compliance by providing a clear record of transactions. However, challenges related to cross-border regulations and evolving legal frameworks persist.

Navigating the Blockchain Data Landscape

As blockchain-based systems continue to evolve, a nuanced understanding of data management in these decentralized environments becomes imperative. Striking a balance between decentralization, security, and scalability is an ongoing endeavor, and the successful integration of blockchain into various industries depends on innovative solutions to address these challenges. The analysis of data management in blockchain-based systems is an exploration of a dynamic landscape, with both opportunities and complexities shaping the future of decentralized information architectures.

Read More: -

#BlockchainDataManagementSystem #blockchain

[truescholar9]

The Role of Blockchain in Securing Digital Credentials

In the digital age, the need for secure and tamper-proof verification of credentials is paramount. Traditional paper certificates and digital records often lack the robust security required to prevent fraud and unauthorized alterations. Blockchain technology has emerged as a game-changer in this regard, providing a decentralized and immutable ledger that enhances the security and trustworthiness of digital credentials.

**Understanding Blockchain Technology:**

At its core, a blockchain is a distributed and decentralized ledger that records transactions across a network of computers. Each transaction, or "block," is cryptographically linked to the previous one, forming a chain. This linkage, along with a consensus mechanism, ensures that once information is recorded on the blockchain, it is nearly impossible to alter or delete.

**The Role of Blockchain in Securing Digital Credentials:**

1. **Immutable Records:** One of the primary benefits of blockchain technology in credential verification is its immutability. When digital credentials are stored on a blockchain, they are protected against unauthorized changes or tampering. Any attempt to alter the information would require a consensus among the network participants, making it highly secure.

2. **Enhanced Trust:** Blockchain technology inherently builds trust. By providing a transparent and decentralized ledger, it eliminates the need for a central authority to vouch for the authenticity of credentials. Individuals and institutions can independently verify the legitimacy of digital credentials through the blockchain, reducing the risk of credential fraud.

3. **Reduced Verification Costs:** Verifying traditional credentials often involves contacting issuing institutions, which can be time-consuming and costly. With blockchain, the verification process becomes streamlined. Employers, educational institutions, and other stakeholders can quickly and efficiently verify the credentials of individuals by accessing the blockchain, reducing administrative overhead.

4. **Data Privacy:** Blockchain can also address concerns related to data privacy. Instead of sharing the entire credential record, individuals can provide selective access to specific information, ensuring that sensitive data remains protected while still allowing for credential verification.

5. **Smart Contracts:** Smart contracts, self-executing contracts with the terms of the agreement directly written into code, can be integrated into blockchain-based credential systems. These contracts automate the verification process, ensuring that conditions are met before credentials are considered valid. For example, a smart contract can automatically verify that a job candidate possesses the required certifications before allowing them to proceed with the hiring process.

6. **Global Accessibility:** Blockchain technology is borderless, making it easier for individuals to access and share their credentials across international boundaries. This is particularly valuable for students and professionals seeking opportunities abroad, as it simplifies the verification of foreign qualifications.

7. **Counterfeit Prevention:** The use of blockchain in securing digital credentials can significantly reduce the risk of counterfeit diplomas and certificates. The decentralized nature of the blockchain ensures that credentials can only be issued by authorized institutions and are easily distinguishable from fraudulent ones.

**Challenges and Considerations:**

While blockchain technology offers immense potential for securing digital credentials, there are challenges and considerations to address:

1. **Integration:** Widespread adoption of blockchain for credentials requires integration with existing systems and processes, which can be complex and costly.

2. **Standards and Interoperability:** Developing standardized protocols and ensuring interoperability between different blockchain systems is crucial to realizing the full potential of this technology.

3. **Data Ownership and Privacy:** Addressing data ownership and privacy concerns is essential to building trust in blockchain-based credential systems. Individuals should have control over who can access their credential data.

4. **Energy Consumption:** Some blockchain networks, such as Bitcoin's, are criticized for their energy consumption. Efforts are underway to develop more energy-efficient blockchain solutions.

In conclusion, blockchain technology has emerged as a powerful tool in securing digital credentials. Its immutability, transparency, and decentralization enhance the trustworthiness of digital records while reducing verification costs and the risk of fraud. As blockchain adoption continues to grow, we can expect to see an evolution in how credentials are issued, verified, and shared, leading to a more secure and efficient system of credential management in the digital age.

[sandspringed]

What Is Distributed Ledger Technology (DLT)?

DLT Stand for Distributed Ledger Technology, is the technological infrastructure and protocols from Govt. Rules & Regulation (TRAI) which allow multiple access, validation, and record updating across a networked database. Just a Centralised system. The infrastructure allows users to view any changes and who made them, reduces the need to audit data, ensures data is reliable, and only provides access to those that need it. With the Help of DLT, now SMS Service is more secure and Transparent not like before everybody can use it in commercial way.

Distributed Ledger Technology Works

As we know in DLTs, it allows stored the information or DATA in securely and accurately way by using cryptography. The data can be accessed using "keys" and cryptographic signatures. Once you will register anything related to Brand Name and Content, it will not get change, either you have to suspend it or delete it but you can’t change it. If you want to change anything you need to apply new template and new header. And than once the information is stored, it can become an immutable database; the rules of the network, written into the coding of the database programming, govern the ledger.

Advantages and Disadvantages of Distributed Ledger Technology

Pros of DLT

Just because of decentralized system DLT have many benefits over more traditional centralized ledger systems., there is no central point of control or failure. This makes DLT more resilient to attacks and less vulnerable to system-wide failures. Also, the technology of DLT it uses cryptographic algorithms to secure data, DLT is nearly impossible to tamper with or forge records. This enhances the trustworthiness of the data and reduces the risk of fraud.

With the help of DLT you will get the complete transparent report of data, allowing all users of the DLT greater visibility into the operations of the system. This may lead to greater buy-in from users due to transparency and accountability of records.

DLT can streamline processes by removing intermediaries and automating transactions through smart contracts. Because smart contracts may automatically execute when contract conditions are met, there may be less need for human interaction or administration. This can reduce costs and increase efficiency.

If you are not register on DLT you can’t send generic commercial communication message.

With the help of DLT, there is good point, your business is quite safe no one will send fraud message.

Easily You can cross check who’s sending the sms from which company you are getting this message. It could be transactional and promotional sms.

Cons Of DLT

DLT can struggle with scalability as the number of actors and deals increase. Because of new rule and regulation, DLT may take long time like 2- 3 days for the whole process. As a result, DLT processes may lead to slower processing capabilities or advanced costs of use. In addition, some DLTs similar as Bitcoin bear a significant quantum of energy to maintain the network and process deals. This can have negative environmental impacts.

As seen by conduct of bad actors, the lack of regulation and standardization in the DLT assiduity can lead to threat for druggies and investors. By extension, DLT requires wide relinquishment to be effective, and numerous diligence and associations may be reluctant to borrow new technologies due to these security enterprises.

Pros

• Spreads methodical threat around, minimizing the threat of a single point of failure

• Has lesser security due to cryptographic algorithms

• Allows for translucency and visibility into operations

• May prove to be more effective due to smart contract robotization

• Offers individualities with limited access to traditional systems potentially lesser capabilities

Cons

• Is more complex compared to more traditional tally results

• frequently requires advanced energy consumption for operation

• May have delicate scaling as further druggies deals do

• Still remains parlous due to lack of regulation

• May prove to be delicate to reverse fraudulent or incorrect exertionWhy Distribute Ledger Technology Is Important

Security

Traditional tally technology frequently has a central point of control with one single reality frequently in charge of the tally. DLT makes the tally more flexible to attacks and less vulnerable to system-wide failures. As DLT uses cryptographic algorithms to secure data, it also makes it more delicate to tamper with or forge records.

translucency

Centralized, traditional checks frequently circumscribe access to certain individualities. Though this still holds value for sensitive information, there are numerous use cases where it's more salutary for all when data and information is astronomically distributed and transparent. Consider the illustration above of voting; having digitally distributed, undisputed, empirical records of voting may enhance the believably of results.

Availability

Last, DLT may ultimately be critically important to third- world countries or regions where centralized technologies are limited. suppose about the banking limitations of different countries around the world. DLT boasts the capability to store and record deals using only a network connection as opposed to a veritably niche (and precious) connection similar as a bank account at a specific bank.

[bitechchain]

An overview of Bitechchain's blockchain technology and its key features

Bitechchain is one of the most popular blockchain technologies in the world. It is a distributed, open-source platform that enables users to securely store, transmit, and share digital assets. The platform uses a combination of cryptography, distributed computing, and game theory to ensure its security and reliability.

Bitechchain's blockchain technology is based on an innovative consensus protocol called Proof-of-Stake (PoS), which uses an incentivized system to validate transactions. This makes it much more secure and efficient than other blockchain systems. Additionally, the platform features such as decentralization, immutability, scalability, and smart contracts.

The features of Bitechchain’s blockchain technology include the following:

Develop & Launch

Bitechchain's blockchain technology also enables users to create their own digital tokens and conduct safe and secure token transactions. This feature makes it easy to design, develop, and launch a decentralized application (dApp). 

Robust Infrastructure

Bitechchain is built with a secure and robust infrastructure, enabling businesses to securely store, manage and transfer digital assets in a decentralized and secure environment.

Smart Contract & Data streaming

Bitechchain's blockchain allows for smart contracts and data streaming. Smart contracts are computer programs that can execute transactions and set conditions. This can help automate tasks, allowing businesses to save time and money. Bitechchain also supports data streaming, which enables applications to track data in real time and make decisions quickly. 

Speed: Transactions can be completed almost immediately, without the need for expensive intermediaries. This makes it an ideal choice for businesses and individuals who need quick and efficient transactions.

AI/ML

Bitechchain's blockchain technology incorporates artificial intelligence and machine learning algorithms. These algorithms can be used to identify patterns and make predictions, leading to more informed decisions. 

Suite of Services

The platform also offers users a wide range of tools and applications to help them manage their digital assets. From digital wallets to secure payment processing, Bitechchain provides users with a full suite of blockchain-based services. Additionally, the platform is fully customizable, allowing users to customize their transactions and activities.

Multi-signature Technology

Bitechchain's blockchain technology is also incredibly secure. All transactions are cryptographically verified with the help of multi-signature technology, and the platform features frequent updates to keep the system up-to-date. 

Scalability: Bitechchain’s blockchain technology is modular, allowing for quick and easy integration with new services and products.

Transparency: Bitechchain’s blockchain technology allows for a transparent, tamper-proof ledger of all transactions, which makes it easier to audit and monitor the food supply chain.

Traceability: Bitechchain’s blockchain technology allows for complete traceability of the product, enabling users to track it from the beginning to the end.

Security: Bitechchain’s blockchain technology is secure and resilient against cyber-attacks and malicious actors, giving users the confidence of data security.

In summary, Bitechchain's blockchain technology is a robust, secure, and scalable platform for building, developing, and deploying decentralized applications. It offers users a suite of tools and features for creating innovative solutions and unlocking new opportunities.

[primorcoin]

New Post has been published on https://primorcoin.com/what-are-proof-of-reserves-and-why-do-they-matter/

What Are Proof of Reserves And Why Do They Matter?

Proof of reserves has been the talk of the town in the wake of the FTX collapse, with the investor community demanding exchanges provide attestations of their crypto holdings. 

But what exactly are they, and why do they matter? Proof of reserves (PoR) refers to a method of verifying that a trading platform or crypto firm does indeed have 1:1 backing across the digital assets it holds in custody on behalf of its customers. 

Firms will often turn to a third-party organization to conduct the attestation. They publish the results, with some caveats (which will be unpacked below) to help investors understand a centralized exchange’s state of finances and whether they have enough funds to match customer deposits. 

Since the trend has emerged, tons of different kinds of attestations have been executed, with some instilling more confidence in a firm than others. 

Merkle Tree-based Proof of Reserves 

One way to execute an attestation is via a PoR protocol that uses a Merkle Tree proof to integrate large amounts of data into a single hash and verify the integrity of the data set. 

Using cryptographic proofs, the PoR protocol verifies the validity of user balances and transactions.

Crypto exchanges may publish Merkle Tree-based PoR attestations at regular intervals, including on a weekly, monthly, or quarterly basis, in the form of snapshots. Alternatively, firms might provide real-time attestations available on their website.

While snapshots may be sufficient to prove a crypto firm’s solvency at a set point in time, real-time attestations are considered to be superior when verifying an exchange’s reserves as they allow anyone at anytime to ensure that funds are indeed by an exchange.

Chainlink launches proof-of-reserves protocol

Chainlink Labs, the company behind the popular decentralized oracle network, is offering its own version of a proof-of-reserves system, which, it said, is “designed to help projects across Web2 and Web3 prove asset reserves through automated verification.”Launched in 2020, with the first user being the TrueUSD stablecoin, the system connects Chainlink nodes to an exchange’s API, its vault addresses, as well as a proof-of-reserve smart contract that can be queried by any other account on the network to determine whether the exchange’s crypto reserves are equal to its liabilities.

Its blockchain-agnostic system provides data on how much is deposited, borrowed, and staked at a particular protocol at any point in time.  

Exchanges can also use Chainlink’s system to provide security around the guarantees that they cannot issue more tokens than assets stored in reserves. 

Which exchanges have proof of reserves?

Some exchanges and crypto lending platforms, including Kraken, Nexo, BitMEX, and Gate.io, moved to launch their proof of reserves before the implosion of FTX. 

Events in November 2022, however, saw more trading platforms work towards having their own proof of reserves, which, depending on the exchange, varied in detail. These included Binance, the world’s largest crypto exchange by trading volume, which released a Merkle Tree-based system for Bitcoin and Ethereum, with OKX, Crypto.com, and ByBit taking a similar approach.

Coinbase, on the other hand, said that as a publicly listed company, it already proves its reserves via audited SEC filings. 

On November 25, the San Francisco-based crypto exchange, however, noted that “on-chain accounting is the future” and that it is exploring “various novel ways to prove reserves using more crypto native methods.”

Part of the effort is Coinbase’s newly launched $500,000 developer grant program. 

These grants are meant to support individuals or teams “who are advancing the state of the art in on-chain accounting, privacy-preserving techniques related to proof of assets or liabilities (including the application of zero-knowledge techniques) and or closely related technologies.”

What are the concerns?

While proof of reserves is clearly a step in the right direction, theoretically helping to ensure that customer funds are safe and cryptographically proving that the company has sufficient liquidity, it can also give users a false sense of security. The reason for this is that by simply providing a snapshot, exchanges give an overview of assets held on the platform’s associated addresses; however, they—with few exceptions—do not disclose the company’s liabilities to customers, meaning users are required to trust the auditor’s attestation about the assets in question.

This may potentially lead to a scenario where an exchange uses its proof of reserves to appear transparent without disclosing its true solvency risk.

This is what Kraken CEO Jesse Powel recently highlighted, saying that attestations must have three components: A sum of client liabilities (auditor must exclude negative balances), user-verifiable cryptographic proof that each account was included in the sum, and signatures proving that the custodian has control of the wallets.

Powell was especially critical of Binance’s November attestation, describing it as “either ignorance or intentional misrepresentation” and saying that “the statement of assets is pointless without liabilities.” 

More controversy around Binance

Binance moved to quell concerns over its state of finances by drafting the South African arm of the international audit, tax, and advisory firm Mazars to prepare an additional proof of reserve report. 

Released last week, it said that at the time of assessment, Binance controlled in-scope assets in excess of 100% of their total platform liabilities. Yet, the report drew more controversy, with experts stressing that the Mazars report means little without any information about the quality of Binance’s internal controls, such as its systems for keeping accurate books and records. 

Moreover, as highlighted in a recent WSJ report, the Mazars report was, in fact, a five-page letter rather than a proper audit report. It did not address the effectiveness of Binance’s internal financial-reporting controls, stressing that Mazars did “not express an opinion or an assurance conclusion,” meaning it wasn’t vouching for the numbers. 

Mazars said it performed its work using “agreed-upon procedures” requested by Binance and that Mazars made “no representation regarding the appropriateness” of the procedures.

On top of that, the figures in the letter essentially state Binance’s Bitcoin is only 97% collateralized, with a Binance spokesperson explaining “the 3% ‘gap’ is due to BTC loaned to customers, through the margin or loan programs, who may have used tokens out of the report’s scope as collateral.”

Shortly after, Mazars, which had executed similar attestations for Crypto.com and Kucoin, announced that it would halt any work with crypto firms moving forward.

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#Binance #Blockchain #BNB #Coinbase #CoinbaseNews #Crypto #CryptoExchange #CryptoNews #Kucoin #TraedndingCrypto

[emailencryption]

HIPAA Compliant Emails

Authorized in 1996, the Health Insurance Portability and Accountability Act or HIPAA is best quality level for safeguarding touchy patient information. Also, any business managing protected health information (PHI) should guarantee that the necessary safety efforts are executed and followed. This incorporates every one of the correspondences connected with electronically protected health information (ePHI), which makes HIPAA compliance for emails an imperative.

Of course, this isn’t just a plain directive. HIPAA violations over the years have skyrocketed. The Department of Health and Human Services’ Office for Civil Rights (OCR) in the U.S. reported an average of 59 data breaches each month in 2021 with healthcare data breaches itself numbering up to 712 between January 1 and December 31. The penalties have also been solid, with the OCR reportedly receiving $777, 150 as settlements in 2021.

For any medical care association managing ePHI, the capacity to get and follow correspondences is vital. Be that as it may, there is a great deal of disarray with regards to consenting to HIPAA rules. We should dig further into the circumstances that request HIPAA compliance.

What Makes Your Email HIPAA Compliant?

The conspicuous response - email encryption. In any case, as advancements advance and dangers get perpetually refined, encrypting email for security consistence isn't getting more straightforward. Email or cyber security jargon like transport layer security (TLS) are tossed around like an expression. However, "Not all TLS is made equivalent. Not all email one believes is going by TLS, as a matter of fact is communicated safely," says Steve Anderson, a protection innovation master. The unseen details are the main problem.

Transport Layer Security (TLS) is a cryptographic protocol that provides end-to-end data encryption between applications over the Internet. It is mainly used when you communicate from your web browser to a web server. It’s simple for the browser to display “insecure” connections, pop-up warnings, or disable a page display.

How RMail Makes Your Emails HIPAA Compliant

RMail helps healthcare and other organizations, which deal with ePHI, encrypt messages for HIPAA compliance for correspondence with patients, participants, HR departments, insurance companies, and third-party administrators.

RMail’s end-to-end encryption makes it easy to automate privacy for both physicians and patients, prove compliance with HIPAA rules, and other privacy regulations. Each RMail message returns the highest levels of court admissible, legally valid, timestamped email privacy compliance evidence in the form of a Registered Receipt™ authenticatable email record.

For more information: https://rmail.com/learn/hipaa-compliant-emails

[samsondogo]

🚨Update!!!🚨

EasyFi Network partners with cybersecurity firm Halborn for complete audit & total security

Scope to include Full Smart Contracts Audits, Security Practices, DevOps procedures for the complete protocol infrastructure

EasyFi Network has partnered with Halborn Security to engage them as the official auditor & security advisor for providing a 360° & holistic security advisory for our complete protocol infrastructure on Polygon, Ethereum and Binance Smart Chain.

This is with reference to our earlier announcement on partnering with top audit firms to audit not just all the protocol smart contract codes but also conduct a complete audit of all the security practices for enhanced security on EasyFi.

Read here: EasyFi Reinstatement Plan

Halborn brings deep industry experience in multiple blockchain protocols and cryptographic standards in performing extensive security audits and testing.

The team has already started a complete security architecture audit, identify and prioritize focus areas, and then work on a weekly plan thereafter. A brief of the areas of work is given below.

Full Audit

Following the security incident with EasyFi on April 19th, we have examined the need for multiple areas of improvement and focus with respect to security practices. This includes providing a full measure of security enhancements not only for our protocol, its smart contracts and code in general, but also establish company-wide security practices, procedures and processes for all future needs for the growth of the protocol.

Please note that a full and comprehensive audit is being conducted for our entire protocol infrastructure on all three blockchains we are currently present on viz. Polygon, Ethereum and Binance Smart Chain.

In addition, this will not be just a one-time engagement between Halborn and EasyFi but an ongoing and sustained engagement henceforth.

The Audit and Advisory scope

Some of the regular working scope of our overall security program with Halborn will include the following:

a. General Cybersecurity Practices — For EasyFi protocol, it is imperative that we have a process-driven security strategy and design that is built to reduce risks. So essentially we need to be suitably protected and free from cyber attacks and other related problems. So in general, we need to:

find the most efficient way to protect the system, networks, software, data and information systems against any potential attacks,

implement vulnerability testing, threat analysis, and security checks & procedures,

perform research on cyber security criteria, security systems, and validation procedures,

plan and design healthy security architectures for any IT project,

investigate and provide security solutions using business standard analysis criteria

b. Holistic Infrastructure Risk Assessments — We are building security in all facets of our business. Halborn will carry auditing, advising, and validating that all technology,

people, and processes are planned and implemented securely. We will initiate some of the best practices used in this space and build them into our security processes & practices.

c. Penetration Testing — In a penetration testing environment, Halborn will perform deep security inspections to identify critical vulnerabilities before they can be exploited by adversaries and threat actors in the real world. We will simulate the activities and tactics typically performed by attackers to reduce the protocol’s exposure.

d. Smart Contract Audits & Security Testing — This is a vital process that needs to be conducted almost regularly as we continue to build and expand our protocol with new products and services. The smart contract analysis conducted by Halborn will comprise an understanding of the code structure, ensure that the code adheres to quality standards, and is free of vulnerabilities and reveals errors much in advance and before public release.

e. Establishing DevSecOps Best Practices — As we restart and begin our new growth journey, we have realized that we need to build mature processes and procedures for our DevOps as well. We will extend our global protocol security practices to our technology sphere as well. We will use Halborn’s expertise for advice on automation, infrastructure codes, cloud hosting options, and other best practices for continuous integration and continuous deployment as and when needed.

Future Perfect

We would like our followers and community to know that we are constantly working on improving our processes for the reinstatement of our protocol. Our partnership with Halborn is just one of the many that we will be doing in this space to ensure that we have a secure protocol for the future. With a brilliant auditor & security partner backing us up, we can focus confidently on building our products and services as per our plans and in the best interest of our users.

About Halborn Security

Halborn is an award-winning, elite cybersecurity firm working with blockchain companies. Some of Halborn’s existing clientele are Coinbase, Stellar, Bancor and BlockFi. Unlike other firms in the space, Halborn focuses on full stack security, DevSecOps, as well as advanced penetration testing of the web apps that interact with smart contacts. The firm also provides exceedingly thorough analysis of a blockchain application’s smart contracts in order to correct design issues, errors in the code, or identify security vulnerabilities. They also perform both manual analysis and automated testing to make sure smart contract applications or DeFi platforms are ready for mainnet.

Website | Blog | Twitter

Stay tuned for more news & updates on our Telegram channel and join the official group. You can also follow us on Twitter.

To learn more about $EASY and EasyFi, please go through Easyfi whitepaper and other articles on this publication.

[libonomy]

Libonomy Blockchain

The evolution of Blockchain has opened doors for research and development in this field. Since Satoshi Nakamoto’s introduction of Bitcoin back in 2008 the world of technology changed completely. It gave the world a new advanced technology to explore. Blockchain system has evolved, from solving problems to keeping up with future development, the cycle has not ceased. The reason it has become a huge success lies in the nature of this system, where it is consensus based and works without intervention of any authority. Blockchain records data that is immutable, which is encrypted and given a unique hash. The hash of the previous block is connected to the hash of the new block. To solve the hash and add further data on the blockchain a consensus is reached among the nodes that are connected. Consensus protocols still have to face many problems and their latest solutions have also become a problem. POW, POS and DPOS have still failed to provide a solution for Byzantine General problem and double-spending. Blockchain is one of its kind blockchain systems that will use Artificial Intelligence at its core, with dynamic threshold, utilizing all the benefits of POW, POS and DPOS and introducing a whole new system which is much more transparent, decentralized , fast and robust.

Overview Of Libonomy

Libonomy is one of its kind blockchain that has achieved the goals of innovation and creativity with great success. The kind of innovation it advertises attracts and reaches out to masses that have the knowledge that the system is fulfilling its role of greatness. Many only talk about a new system of blockchain but Libonomy is on its road to fulfill that ideology already. The uniqueness of any organisation becomes its trademark and the uniqueness of Libonomy is that it offers its clients to explore beyond their imagination and think out of the box. The speciallty of Libonomy Blockchain is that it does not use the previous consensus algorithms that have been used for a very long time. These consensus algorithms have their own drawbacks and Libonomy believes in providing an error-free consensus engine that has been architectured carefully. It uses Artificial Intelligence consensus algorithm, an automated computer generated engine that saves energy, time and gives high speed of transaction. The system being generated through AI is safe from any human corruption and it is fully decentralized that it endorses complete transparency as well. The exclusivity of Libonomy is not the only commendable factor of it but the stability that it offers on its many platforms as well. Libonomy pioneers in providing safety and security to all its clients that use it with great trust. It is a cost-effective platform that believes in giving the best to its clients only. It saves the energy of resources and time of its clients so that everything is carried down effectively and efficiently.

Blockchain Technology

The working of the system is not too complex, an overview of the system needs to be addressed before moving forward to the technicalities of the system. When the nodes join the Libonomy Blockchain system, the AI will run its analysis on the nodes. The analysis is carried forward on the contribution and participation of the nodes in the blockchain. The data regarding the capability of how far the nodes are willingly taking part in the blockchain is gathered as well as the speed of the transactions and communication is gathered, all this information is combined to understand the nature of the nodes in the respective system. Once, the analysis is completed the data is transferred to the algorithm which then classifies the information depending on the nature of the nodes and assigns a pool to each one of them.

There are four different types of pool. The Power pool is the main pool where the transactions are verified and validated. There is Exploit Finding pool which runs a security check-up on the nodes to look for any issues with it, like its contribution in the blockchain. The Maintenance pool is a pool for all the nodes that are not assigned to any other pool and are associated as a backup. The Audit pool is assigned for the application of rules and regulations. When the nodes have been put in their respective pools, digital signals are passed to create a network, meanwhile the idle nodes are cut off.

There is no or less communication between blockchain with another blockchain. This creates hindrance in getting a connection across and expanding the horizon of the blockchain. Libonomy Blockchain has the feature of interoperability that will allow multiple blockchain systems to run under the umbrella of Libonomy blockchain.The Libonomy Blockchain can support public blockchain and private blockchain, both. Corporations and businesses can use the blockchain in their new business projects that can take the plan a step ahead in any sector of business. Government, education, health, identity management and many other sectors can integrate the blockchain in their organisations to make it easy for them to manage work with the benefit of stability and security.

Smart contracts are mostly implemented in blockchain to enhance the system, however, with Libonomy Blockchain the AI engine will verify and validate the smart contracts, creating them on their own keeping in the nature of nodes and the network in consideration. Libonomy blockchain technology provides its own blockchain SDK using which users can utilize the system in their own platform or build dApps on top of it, which are completely decentralized and cost-effective. The use-cases for Libonomy Blockchain are limitless and versatile because of the nature of the engine and the whole system bringing innovation and creativity together.

Components Of The System

Transaction Per Second

TPS of a node is modeled as an evaluation function that takes node properties, nature of the network and safety elements as its independent variable.

Computing Power Ratio

Computing power ratio is the ratio of calculating force of a node to calculating force of the whole network,.

Exploit Finding Nodes

EF Nodes guarantee the security of the network. These nodes will be put off the network if any false nodes are found in the power pool.

Maintenance Nodes

Maintenance Nodes are backup nodes that are pulled out and assigned into their respective pool. AI engine will kick out the nodes from either pool, in case of a corrupt node.

Audit Nodes

Audit nodes will carry out the auditing of the pool on a constant basis. If any of the power nodes fail to fall within the threshold assigned by the audit nodes, the node will be removed from the network.

Virtual Voting

Every node in the network can spread signed information to its randomly chosen neighbours. With virtual voting, each node can determine if a transaction is valid, block upgrade and threshold upgrade. Signal Passing Digital pulse is generated with each communication, which is pulse based message communication the fastest possible technique for better communication and achieving high throughput of the whole network.

Gossip Algorithm

Multi-Layered Gossip involves attaching a small additional amount of information to a pair of gossip that contains the history about the nodes.

Power Nodes

These power nodes can be picked under a mechanism by an AI engine. The power nodes are namely classified into Lightening Nodes, Middle Nodes and Lower Nodes.

Neural Network

Neural Network is the main core used in this blockchain. It is inspired from the human brain, and neural network will help in classifying and clustering information. It will help in organising, storing and managing.

Network Proposal System

The network of Libonomy Blockchain is explained below, to grasp the working of the system.

The AI consensus engine will generate dataset of the nodes consisting the analysis of their performance, strength in being part of the blockchain and history of any activity in the algorithm.

After the dataset is received it is then passed on to the prediction algorithm.

The training of the machine takes place in a learning algorithm which is Neural Network based on the dataset received from the nodes that are connected to the network.

The Neural Network is being used to make predictions and dynamically classify nodes into their respective pool with dynamic threshold, as defined by the state engine of the blockchain.

The network has become a distributed network with high speed communication and data transfer. The transaction per second of this network is highly competitive against other known networks.

The High Speed Autonomous Blockchain is taken into consideration

Pulse based message communication is used for data writing and sharing on distributed ledger. Pulse based message passing is one of the most advanced techniques to transmit and receive messages.

Pulse Based message communication will keep the nodes dedicated towards the network.

There is a continuous communication taking place of large datasets of the nodes, while still not overloading the network with the requests.

Cryptographic hashing is still happening, while still maintaining immutability and perfect blockchain.

Multi Node pools are created for transaction verification, blockchain maintenance, and rules creation.

The system is avoiding hard forks, while allowing blockchain upgrades.

Gossip communication between multiple node pools is taking place for transaction verification and blockchain is upgraded.

Network is being upgraded and the blockchain keeps on scaling with a consistent architectural structure.

As the signals will pass the gossip protocol will be working to its full potential, then the Virtual Voting will utilize this information to upgrade the pools and data will be shared. Based on the rules accepted and generated by the AI engine and Pools, the State Engine Machine will maintain the system’s state and upgrade it dynamically.

The second stage begins with:

Public Blockchain Testnet is created which is identical to the software of the cryptocurrency, but does not disturb the main cryptocurrency software as it is an experiment.

All the nodes from all around the world are allowed to contribute to the network.

AI engine will keep maintaining the dataset for future upgrading of the blockchain and remove all the issues.

Application layer will be used to create DEX, smart contracts and other DApps.

X-Virtual Machine will be part of the blockchain system:

Virtual Machine compiler will run and build smart contracts and DApps.

It will allow auditing of smart contracts.

Software Development Kit (SDK) will be installed in one package for developers to use the blockchain.

The above implementation plan of the Libonomy Blockchain fully considers the operation needs of the development of consensus algorithms, the building process of a Blockchain with AI engine and the ability enhancement process of the Blockchain community, so as to make the Libonomy Blockchain available as soon as possible, popularize it in the community and carry out process. Also, gradual improvements will take place in the Blockchain through constant iteration and upgrade.

[accendnetwork-blog]

ACVP enables crypto implementations to interact with a server that provides crypto test vectors which the crypto implementation encrypts and sends back.