#blockchainplatform

[blockchaingenius]

Blockchain Networks: Understanding from Selecting to Maintaining it

Do you know why blockchain networks are rapidly gaining popularity in the digital world? It's because they offer a transparent, tamper-proof, and secure environment that helps businesses transform and streamline their operations. However, selecting and maintaining blockchain networks can be a daunting proposition for many organizations, and without proper management, can result in costly mistakes. To ensure optimal performance and security of blockchain networks, it's essential to have a clear understanding of the deployment process, and how to maintain the network to avoid threats and vulnerabilities. In this blog post, we'll delve into the intricacies of choosing to maintain blockchain networks and provide valuable insights on the best practices that will help you achieve a successful blockchain deployment and maintenance. So, sit tight, and let's dive in!

Choosing a Blockchain Platform

Choosing a blockchain platform is a critical decision that can directly impact the success of your business or project. With numerous platforms available to choose from, it's essential to choose wisely. The right blockchain platform will provide the features and functionalities that align with your project goals and requirements. It should also be easy to understand and use and have a strong development community to support it. Failing to choose the right blockchain platform can result in wasted resources in the form of time, money, and effort. Therefore, it's crucial to thoroughly research and compare different blockchain platforms before selecting one. Ultimately, the right platform can empower you to achieve your desired outcomes, while the wrong platform may hinder your progress and negate your efforts. By selecting the right blockchain platform, you can stay competitive in your industry, leverage new opportunities, and strengthen your overall positions.

Understanding the Requirement

Understanding the requirements of a blockchain network is crucial to ensure its successful deployment and maintenance. Without a clear understanding of the specific needs and objectives of the organization or project, deploying a blockchain network can be challenging and may result in an inefficient system that fails to deliver the desired results. It's crucial to consider factors such as scalability, security, and consensus mechanisms to ensure that the blockchain network can meet the requirements and expectations of the users. By taking the time to carefully analyze the needs of the organization or project, it's possible to deploy a blockchain network that not only meets the current needs but also provides ample room for growth and expansion in the future. So, before taking the leap towards blockchain deployment, ensure you have a good understanding of the requirements, as it can make all the difference in your blockchain network's success.

Setting up the Network

Setting up a blockchain network is a critical step towards unlocking the full potential of this revolutionary technology. To do that, you need to install the necessary software, configure the nodes and create a network of computers that can work together seamlessly. This step requires an in-depth understanding of the blockchain architecture, its core components, and how they interact with each other. The network setup process is challenging and requires significant technical knowledge and skills. However, it is essential to remember that setting up the blockchain network is the foundation of your blockchain project. The success of your project depends on the stability and the reliability of the network, and achieving that requires careful planning, testing, and implementation. With the right knowledge and expertise, you can build a robust blockchain network that can serve your business needs for years to come.

Smart Contract Development

When we talk about blockchain networks, smart contracts are an essential component. They allow us to automate processes, create decentralized applications, and streamline transactions - all without the need for intermediaries. But to reap the benefits of smart contracts, we need to write them correctly. That's why it's important to learn best practices for smart contract development and popular programming languages like Solidity. By mastering these skills, developers can create more secure, efficient, and reliable smart contracts. As the adoption of blockchain technology continues to grow, the demand for skilled developers in this space is only going to increase. So investing time and effort into learning smart contract development is not only relevant but could also set you apart from the competition in the job market or getting your blockchain project off the ground.

Testing and Deployment

Testing and deployment play a crucial role in any blockchain project. Before launching a blockchain network, thorough testing is necessary to ensure its stability, security and functionality. Even the smallest bug or vulnerability can cause significant losses to users and damage credibility, which cannot be fixed easily. Therefore, testing should include a complete range of scenarios, code reviews, and security assessments. Deploying blockchain networks requires careful planning, with a focus on scalability, interoperability, security, and compliance with regulatory requirements. There are several tools and frameworks available for testing and deployment, including Truffle, Geth, Mocha, and Chai. A successful blockchain network will require a dedicated team of professionals, including developers, testers, and operations personnel, to ensure that it remains viable, secure, and valuable to its users. So, testing and deployment are critical components of a successful blockchain project, and deserve careful consideration throughout the development process.

Maintenance and Upgrades

Maintenance and upgrades are crucial components of deploying a blockchain network. After investing significant time and resources in launching the network, it's vital to ensure its smooth operation for an extended period. Maintaining a blockchain network involves identifying and preventing potential issues, monitoring network health, and upgrading protocols as needed. One major advantage of blockchain technology is its ability to evolve and adapt to changing market conditions. However, this dynamic also necessitates the need for ongoing maintenance and upgrades. Many challenges can arise in maintaining a blockchain network, such as security threats, scalability issues, and network congestion. Nevertheless, these challenges can be addressed through continuous development, efficient upgrading processes, and well-thought-out maintenance procedures. Ultimately, maintaining and upgrading a blockchain network is crucial to ensuring its longevity, security, and success.

Conclusion

Overall, deploying and maintaining blockchain networks require technical expertise and knowledge, but it can also be a valuable tool for businesses seeking to secure their data and transactions. As blockchain technology continues to evolve and gain popularity, it becomes increasingly relevant for individuals and organizations to keep up with the latest advancements. By following these guidelines, you can ensure the success and longevity of your blockchain network, and harness its potential to revolutionize industries and transform the way we interact with each other. Embracing the power of blockchain technology can lead to greater efficiency, transparency, and trust in our increasingly interconnected world. So, take the leap, and start exploring the possibilities of blockchain for your business today!

[fxpip]

#blockchainnews #blockchains #blockchainwallet #blockchainart #blockchainrevolution #blockchaintech #blockchaincommunity #blockchainmining #blockchaindevelopers #blockchaingaming #blockchaingames #blockchaindevelopment #blockchaingame #blockchainlife #blockchainfund #blockchaineducation #blockchainconference #blockchainplatform #blockchainbrasil #blockchainsolutions #blockchainevents #blockchaindeveloper #blockchainitalia #blockchainindonesia #blockchainsummit #blockchainartists #blockchainmind #blockchainindia #blockchaintechnology #blockchainstartups https://www.instagram.com/p/CnnzwjkK5oO/?igshid=NGJjMDIxMWI=

[sophiasmithg]

Top Blockchain Development Platforms: A Guide for Business Innovators

Blockchain has become a mainstream technology in each sector. Initially, Blockchain was used as Bitcoin but today it goes beyond that expanding its applications across industries, including finance, gaming, real estate, supply chain management, and healthcare.

It was designed to foster efficient, secure, and transparent transactions, increasing its popularity even more.

Today, there are over 560 million cryptocurrency users worldwide.

There are 85 million Blockchain Wallets in 2024, with significant spending on Blockchain solutions.

90% of businesses are using blockchain technology in some form.

Blockchain platforms are capturing the market.

The Blockchain fever is high, businesses seek next-gen blockchain app development solutions that can improve efficiency and security. Here are the top Blockchain platforms to build future-proof Blockchain ecosystems and solutions. 

What do you mean by Blockchain Platforms?

But, do you understand the concept of Blockchain technology? 

Blockchain technology is a Distributed Ledger Technology (DLT) that stores data within blocks linked together. Each block has specific storage, when it is filled, the data gets stored on the next block, linking it to the previous block for reference. You cannot alter this data due to decentralization and cryptographic hashing.

Image Source 

Now, understand what Blockchain Platforms are.

Blockchain platforms help you build, deploy, and manage blockchain-based applications. These platforms offer the necessary tools, protocols, and infrastructure for developing and managing decentralized applications (dApps) and smart contracts on a blockchain network. 

They often include features such 

Consensus mechanisms

Identity management

Data storage

Blockchain integration capabilities

Different types of Blockchain platforms

Blockchain platforms are of four types-

Image Source 

Public Blockchains: These platforms are open to everyone. Anyone with a stable internet connection can operate them, for example, Bitcoin and Ethereum.

Private Blockchains: these are public blockchain platforms with permission. It means, only authorized people can access them and perform actions. Users can access this blockchain only if they have a digital certificate or verification. Example- Hyperledger Fabric and Corda.

Consortium Blockchains: Consortium blockchain platforms allow multiple organizations to maintain and control the blockchain. A group of companies or institutions share and manage a digital ledger without a central authority. These platforms are used for collaborations requiring trust and privacy among a select group of participants, such as businesses, banks, or government agencies. Some popular examples are- R3 Corda and Hyperledger Fabric.

Hybrid Blockchains: It is a combination of public and private blockchains. Businesses using this network might have some restrictions in accessing specific data while some are public. Some hybrid blockchains are Dragonchain and Ardor.

87% of businesses will plan to invest in blockchain in 2024.

Benefits of Using Blockchain Platforms

Image Source 

86% of individuals believe Blockchain technology can benefit their businesses. Businesses can use blockchain platforms for the following benefits.

Extensive resources

For developing a blockchain-based application, businesses must have several setups. However, the blockchain platform is a one-stop solution that provides structure and security to access necessary components, reducing the overall development time and effort.

Improved productivity

Blockchain platforms successfully eliminate third parties or mediators to transfer information. It ensures smooth peer-to-peer transactions and reduces transaction costs and settlement time, improving productivity and producing better ROI.

Eliminate fraud

Blockchain is known for transparent, immutable, and cryptographic security. So, once you store the data on the blockchain network, it is safe, as no one can alter it with authorization. 

You can a hire blockchain developer who can use reliable blockchain platforms to build blockchain applications.

Top Blockchain Platforms to Choose in 2024

1. IBM Blockchain

It is a Blockchain-as-a-Service (BaaS) offering by IBM. It allows users to create secure and reliable blockchain networks. It works on Hyperledger Fabric, a trusted open-source framework that offers fully managed blockchain solutions.

Key features-

You can use the Platform Developer Tools to create smart contracts in different technologies, Node.js, Java, or JavaScript.

You can use the Ansible Playbooks or the Red Hat Marketplace to deploy networks effortlessly.

Manage multiple blocks and deployments with its intuitive console.

Integrate it with the cloud to scale their resources.

Ensures disaster recovery with high uptime.

2. TRON

This blockchain platform was introduced in 2017. It is faster and more efficient than other blockchains. It uses delegated proof-of-stake (DPoS) to confirm transactions quickly and improve network speed. It offers a three-layer system to reduce delays often seen in traditional networks.

TRON has its cryptocurrency called TRX. It has changed how online content is created and shared, aiming to be a leading platform in Web3 as it decentralized content development and distribution.

Key features-

Tron supports Solidity smart contracts and tokens like BTT, USDT, and USDC.

It processes up to 2k transactions per second, faster than Ethereum.

Tron uses a three-layer structure and DPoS consensus for efficient network operation.

Super authorities manage and create blocks through a democratic process where top candidates earn rewards by participating with 9999 TRX.

3. Stellar

Stellar is an open-source blockchain platform for efficiency and faster cross-border payments. It allows developers to build secure blockchain apps and issue assets. It has its Consensus Protocol (SCP) that ensures fast and efficient transactions. It has its cryptocurrency called Lumens (XLM).

Key features-

It confirms transactions in 5 seconds with low fees.

It connects banks, payment processes, and users for efficient cross-border transactions.

Users can issue, buy, and sell digital assets like currencies and commodities.

Stellar integrates with the crucial network for real banking connections.

Developers can use SDKs to build applications.

4. Corda

Corda is a blockchain platform widely used by financial organizations and businesses. It maintains a unique identity across networks, minimizing security risks, and supporting regulatory compliance. Corda is designed for enterprises that want to adhere to regulatory compliance and interoperability, distinguishing it from other blockchain platforms like Ethereum.

Key features-

Corda supports multiple groups interacting on one network with secure identity management.

It ensures privacy with permissioned access to data and secures digital asset movement.

Corda complies with ISO 20022 and ISDA CDM regulations, focusing on identity and transaction integrity.

Developers use languages like Java or Kotlin to develop smart contracts and applications on Corda.

The Flow Framework guides nodes through ledger updates like asset issuance or trade settlement.

5. Ethereum 

Ethereum is the go-to blockchain platform for new projects. It introduced smart contracts and offers a virtual environment for creating decentralized apps easily. It is used to develop decentralized apps, NFTs, and smart contracts using Solidity programming. It now uses Proof of Stake for better energy efficiency and sustainable solutions.

Key features-

Ethereum is decentralized, secure, and immutable.

It is compatible with smart contracts for diverse decentralized applications.

The Ethereum Virtual Machine is a foundation for blockchain platforms adopting smart contracts.

Ethereum has Layer 2 chains to boost scalability and lower transaction costs.

6. Multichain

Multichain is a platform for businesses to create custom, private blockchains that can interact with each other. It is a flexible and scalable solution for specialized blockchain solutions.

Multichain ensures fast, secure, and cost-effective data transfer between blockchains. 

Key features-

Multichain creates and connects blockchains quickly.

It supports Ethereum, Layer 2 chains, Bitcoin, and COSMOS chains.

It supports unlimited digital assets and tokens, ensuring verification across the network.

Users can create diverse databases for data storage, and controlling transactions and assets.

Multichain ensures interoperability between different blockchains.

It reduces technical complexity for developers.

You must connect with a leading Blockchain Consulting to understand your blockchain platform’s requirements. 

Also Read: Blockchain App Development Cost

Tips to Select a Blockchain Platform for Your Business

While choosing the blockchain platform for your business, consider the following things.

Image Source

 Your platform should be scalable and can handle growing transactions and user base. Most of the businesses fail as they fail to scale due to their choice of platforms. Make your choice based on quality, affordability, and ease of use, especially for less transaction-intensive applications.

You must understand what type of blockchain you want for your business. Decide between public, private, or hybrid blockchain based on needs. Public offers open access but less control, private offers more control and security, while hybrid combines both for flexible data management.

Choose the blockchain platform that supports multiple programming languages to ensure compatibility with development needs and team skills.

Check what consensus mechanism (e.g., Proof of Work, Proof of Burn, or Proof of Stake) is supported by your blockchain platform, as it significantly affects network security and performance. 

Ensure the platform supports smart contracts. These automated programs enforce agreements on the blockchain, streamlining processes and reducing intermediaries.

Choose a Blockchain development company for better and more efficient Blockchain Development Services.

Blockchain Platforms for Investors

Many blockchain platforms are used by investors to tokenize their digital assets. Some of them are-

Gemini

Uphold

Coinbase

Binance

Kraken

Bitstamp

Bitcoin IRA

Build Scalable Blockchain Applications with OnGraph

OnGraph is a leading blockchain app development company for full-stack blockchain development services. We have expert blockchain developers who have successfully launched a Web3 decentralized platform- ROVI for everyone to trade, play games, wallet, and more. 

Connect with OnGraph for next-gen Blockchain app development services. From custom blockchain development services to readymade solutions, we can help your business scale and launch faster than ever.

What makes OnGraph unique?

Blockchain experts

Implement the latest security and regulatory measures

24x7 support

Full-stack blockchain app development

Connect with us.

[kalpnetwork]

Demystifying DLT: Beyond the Buzzword of Blockchain

Distributed Ledger Technology (DLT) has been making waves across industries, but it often gets overshadowed by its widely known application: “blockchain”. While blockchain leverages DLT’s power, DLT itself is a broader concept with a range of applications. So, what exactly is DLT, and how can it revolutionize RWA industry?

Let us explore the transformative potential of DLT, moving beyond the buzzword of blockchain.

What is Distributed Ledger Technology?

Distributed Ledger Technology (DLT) is a type of database that stores information across multiple locations simultaneously, rather than relying on a single server. This is achieved through geographically distributed servers, known as nodes.

Each node in the network processes and validates every piece of data, creating a record and establishing consensus on the dataset’s validity within the ledger across all nodes.

Types of Distributed Ledger Technology (DLT): Centralized and Decentralized.

Centralized DLT

In a centralized DLT system, control and authority over the ledger are concentrated in the hands of a single entity or organization. This central authority manages the entire database.

Key features of centralized DLT include:

Single Point of Control: A central entity maintains the ledger, making decisions about data updates, access, and security.

Efficiency: Centralized systems are efficient due to streamlined decision-making and management.

Examples:

Traditional Banking Systems: Most traditional banks operate using centralized databases. They manage customer accounts, transactions, and balances within their own controlled infrastructure.

Private Blockchains: Some private blockchain networks are also centralized. For instance, a consortium of banks might collaborate on a blockchain for interbank settlements, where they collectively manage the ledger.

Decentralized DLT

Decentralized DLT distributes control and authority across multiple nodes (computers) in a network. No single entity has exclusive control over the entire ledger.

Key features of decentralized DLT include:

Multiple Nodes: Various participants (nodes) maintain copies of the ledger, ensuring redundancy and resilience.

Transparency: Changes to the ledger are visible to all participants, promoting transparency.

Examples:

Blockchain (Public): Bitcoin’s blockchain is a prime example of decentralized DLT. Nodes (miners) validate transactions, reach consensus, and maintain the ledger. No central authority governs Bitcoin.

Ethereum: Ethereum’s blockchain allows for smart contracts and decentralized applications (DApps). It operates on a decentralized network of nodes, enabling programmable transactions.

Public Permissionless Blockchains: These open networks, like Ethereum, allow anyone to participate in maintaining the ledger.

Hybrid Models: Some DLT systems combine elements of both centralized and decentralized approaches. For instance, consortium blockchains involve a group of trusted entities managing the network.

Thus, centralized DLT offers efficiency but relies on a single point of control, while decentralized DLT ensures transparency and resilience by distributing authority across a network of nodes. The choice between these models depends on the specific use case and desired level of decentralization.

Decentralized DLT (similar to Blockchain)

Decentralized DLT is very similar to blockchain. In fact, blockchain is a type of DLT that utilizes a decentralized structure. A decentralized DLT shares several key characteristics with blockchain technology. These are:

- Immutable - Transparent - Append-only - Decentralized

However, unlike blockchain networks, which are fully decentralized with no central authority, DLTs may incorporate some level of central oversight. Both systems are particularly popular in the finance sector due to the speed and transparency that decentralized systems offer.

A decentralized DLT isn’t a one-size-fits-all solution. There are three main types, each offering different levels of access and control.

1. Private Permissioned: Less Transparent

Imagine a party with a strict guest list. That’s kind of like a private-permissioned DLT. They are partially decentralized in the sense of being distributed across known participants rather than unknown participants. Only approved members can see who else is there and what information is being shared. While it offers some benefits of DLT, like increased security, it’s not truly transparent.

2. Public Permissionless: Open to All

This is the wild west of DLT! Anyone can join a public/permissionless network. There are no gatekeepers; everyone can see the information stored on the ledger. This transparency is great for building trust, but it can also raise privacy concerns. Think of it like a giant public bulletin board where anyone can post (and see) anything.

3. Public Permissioned: Finding the Middle Ground

Public-permissioned DLT strikes a balance. Anyone can access the network, but not everyone has the same power. Imagine a public park with designated areas for activities. You can walk your dog in the open field, but only licensed trainers can lead group sessions. This type of DLT allows for open participation while still maintaining some control over sensitive information or actions.

While the above 3 are more popular types of DLT, we have 2 more on the list. These are:

4. Hybrid DLT: This approach bridges the gap between permissionless and permissioned DLTs. It allows for transparency, like public blockchains, while offering some level of data privacy control, like private blockchains. This makes it ideal for scenarios where collaboration is needed, but some information needs to be kept confidential. Imagine a supply chain where participants can track goods transparently, but sensitive details like pricing might be restricted.

5. Consortium DLT (or Federated Blockchain): This is essentially a permissioned network governed by a group of organizations, rather than a single entity. It offers the benefits of both decentralization (shared decision-making) and control (limited participants). Members can share data securely, collaborate efficiently, and enjoy faster transaction speeds due to the streamlined validation process. This type of DLT is ideal for industries like finance or healthcare where collaboration is crucial, but data privacy and regulatory compliance are paramount.

Finding the Right Use Cases for DLT

The best DLT for a particular situation depends on the needs. Private networks offer more control but less transparency, while public networks are open, but privacy might be a concern. Public-permissioned use cases of DLT offers a compromise, making it a good option for situations where both participation and control are important.

KALP DLT is a public-permissioned ecosystem that is specifically designed for all real-world assets (RWAs) and integrates asset tokenization and compliance providers directly into the chain.

Advantages of Utilizing Kalp DLT for Asset Tokenization

The adoption or use cases for DLT Distributed Ledger Technology (DLT) presents numerous advantages across various use cases. These are mentioned in detail below:

Global Reach: Enables worldwide access to previously illiquid assets, fostering seamless trading and borderless investment opportunities.

Improved Price Discovery: Blockchain reduces intermediary influence, leading to more accurate pricing of illiquid assets.

Enhanced Transparency: Immutable ledger creation ensures clear tracking of asset ownership and transactions, enhancing accountability.

Operational Efficiency: Increases transaction speed and reduces costs, streamlining traditional asset management processes.

Accessibility: Allows fractional ownership of high-value assets, broadening investment opportunities for investors.

The Kalp DLT Advantage

Compliant DLT: Kalp DLT is a permissioned and compliant ecosystem facilitating cross-chain interoperability of digital assets. It is fully registered and complies with all U.S. Money Services Business regulations.

Foundation of Trust: Kalp DLT ensures a strong foundation of trust by requiring all network participants to undergo stringent Know Your Customer (KYC) and Know Your Business (KYB) procedures. This thorough vetting process enhances security and compliance, fostering a trustworthy environment for all users.

Scalable Infrastructure: Kalp DLT’s public and permissioned multi-chain network provides versatile, scalable and sustainable blockchain adoption. It enables the integration and interoperability of various blockchain solutions. Thus, accommodating diverse needs and facilitating growth and adaptation in the financial industry.

These benefits collectively contribute to an inclusive, transparent, and efficient financial marketplace, benefiting investors, asset owners, and regulators alike by streamlining oversight and compliance.

Challenges and Concerns addressed by Kalp in Asset Tokenization

Despite the benefits of RWA tokenization, we cannot overlook the hurdles in implementing and adopting tokenized assets in finance. These are:

Regulatory Oversight: The lack of a uniform global regulatory framework creates uncertainty and may hinder global expansion. However, Kalp with its regulatory permissioned ecosystem facilitates seamless RWA tokenization on-chain.

Infrastructure Development: The need for interoperable standards and scalability across diverse blockchain networks presents significant hurdles. Though, we Kalp addressaddresses it via cross-chain interoperability to popular chains.

Eliminates Industry Skepticism: Many failures in the industry have underscored the associated risks and fueled skepticism. Kalp’s approach enhances transparency in asset ownership and valuation and fostering trust through legal custodian.

Collaborative Efforts: Our Kalp blockchain innovators, regulators, and financial institutions work together in transitioning tokenization from concept to widespread financial practice.

Conclusion

The integration of Distributed Ledger Technology (DLT) in tokenizing real-world assets is revolutionizing asset management by enhancing investment access, market transparency, and efficiency. Successful adoption depends on collaboration among tech developers, regulators, and the finance industry.

Kalp DLT provides a platform for such collaboration, ensuring regulatory compliance and secure operations. To fully realize DLT’s potential, a harmonized global regulatory framework and scalable infrastructure are essential. A collaborative ecosystem will help overcome challenges, enabling the next generation of efficient, transparent, and secure financial markets through DLT-powered asset tokenization, driving innovation and growth in the digital age.

[dronacharyacollege]

Web3 Workshop

Dronacharya College of Engineering, Gurugram in association with “Rise In India “organized Web3 Workshop titled "How to Build a smart contract using Solidity" on 9th Feb, 2024.

The Eminent speaker of the session was Mr. Sahitya Roy from “Rise In India”.

Solidity is an object-oriented programming language for implementing smart contracts on various block chain platforms and one of the most popular languages for developers to take their first steps into smart contract development.

[lucaslagone]

Future Blockchain Platforms - Top Platforms Shaping 2024 and Beyond

Explore the top blockchain platforms shaping 2024 and beyond. Discover the future of blockchain technology with these innovative platforms.

[cryptotechnews24]

Bitcoin's Ordinals: The Rising Force in the NFT Market

The NFT market is witnessing a fierce competition between blockchain networks, and Bitcoin's Ordinals have emerged as strong contenders poised to surpass Ethereum. With remarkable growth in sales and buyer market share, Ordinals have caught the attention of crypto enthusiasts. Enabled by the Taproot upgrade, these native NFTs on the Bitcoin network offer unique opportunities for creators and collectors alike. As we explore the rise of Bitcoin's Ordinals, we'll also delve into the competition from other blockchain networks in the ever-evolving NFT market.

Bitcoin's Ordinals: The Rising Stars of the NFT Market

Bitcoin's native non-fungible tokens (NFTs), known as "Ordinals," have emerged as a formidable contender in the NFT market, with indications that they may soon outperform Ethereum. Recent data from Crypto Slam reveals a remarkable surge in sales and active buyers, showcasing a staggering 129.50% growth in USD sales and capturing nearly 10% of the buyer market. Ethereum currently stands at the forefront of the NFT sector, boasting a total sales figure exceeding $24 million. However, the rapid ascent of Bitcoin's Ordinals suggests an impending shift in dynamics.

The Birth of Bitcoin's Ordinals

The concept of Ordinals gained significant traction since their inception in April 2023. These unique digital assets find their essence in being inscribed on a satoshi, which represents the smallest unit of Bitcoin. The introduction of the Taproot upgrade in November 2021 facilitated the creation of Ordinals by enabling data inscription on the Bitcoin network, akin to the creation of NFTs on other blockchain platforms. Since their launch, Ordinals have stirred excitement within the Bitcoin community, consistently setting new records for the number of inscriptions.

Competition in the NFT Market

While Bitcoin's Ordinals and Ethereum's NFTs dominate the NFT landscape, other blockchain networks have also made significant strides in this domain. Let's explore the notable players: - Solana: Holding the third spot, Solana exhibits robust sales growth of 44.61% with total sales reaching $1.2 million. Moreover, it captures an impressive 31.40% of the buyer market share, surpassing even Ethereum. - Polygon: Following closely behind in the fourth position, Polygon experiences a sales increase of 30.75%, amounting to $1.3 million. Its emergence as a prominent NFT platform showcases its potential for further growth and innovation. - BNB Chain: Securing the fifth position, BNB Chain achieves sales totaling $856,027, accompanied by a buyer market share of 7.54%. As a blockchain network that supports various applications, BNB Chain demonstrates its versatility and appeal within the NFT market. - Cardano: Despite occupying the sixth position, Cardano exhibits substantial sales growth of 36.22% and accumulates total sales of $346,115. With its focus on sustainability and scalability, Cardano holds promise as an emerging player in the NFT space.

Conclusion

Bitcoin's Ordinals are poised to disrupt the NFT market, displaying remarkable growth in sales and capturing a significant portion of the buyer market. Enabled by the Taproot upgrade, these unique digital assets have captivated the Bitcoin community with their inscription on satoshis. While Ethereum still leads the pack, the rising prominence of Bitcoin's Ordinals indicates an imminent power shift. Furthermore, other blockchains such as Solana, Polygon, BNB Chain, and Cardano have made notable strides, contributing to the diversification and evolution of the NFT market. As the NFT landscape continues to evolve, it presents exciting opportunities for artists, collectors, and blockchain enthusiasts alike. For more articles visit: Cryptotechnews24 Source: u.today

Latest Posts

Read the full article

[123kumaramit]

ERA SWAP ACADEMY | LEARN EMERGING TECHS FROM BEGINNERS TO EXPERT LEVEL

Are you a singer? Are you a teacher? Are you a seeker who wants to learn different Technologies? Then Eraswap Academy is a place where you get the opportunity to learn  emerging tech and as well as earn.

Wanna know in detail? Click below!

https://eraswaptoken.io/blog/era-swap-academy--learn-emerging-techs-from-beginners-to-expert-level-

 Download 1DAAP :

https://play.google.com/store/apps/details?id=com.eraswaponeapp&hl=en_IN

[cryptoknowmics]

✅ICO vs IEO✅

There’s a lot of confusion between ICOs and IEOs. This infographic will help clear those misconceptions that people have about these fundraising methods.

[basechop]

ALGO Investment Strategy: Becoming a Millionaire

Despite the recent impressive growth of the crypto market, the native token of the high-performance blockchain platform Algorand, known as ALGO, still trades at a significant 95.2% below its historical peak reached in June 2019. Understanding ALGO: Algorand operates on its proprietary Pure Proof-of-Stake (PPoS) consensus algorithm and supports smart contracts, decentralized applications, and the issuance of digital assets. The network is positioned as "carbon-negative," with a portion of transaction fees allocated to various initiatives for offsetting CO2 emissions. The governance token ALGO is utilized for staking, fee payments, and node deployment, with a maximum supply of 10 billion coins. Current Status and Market Position: As of the time of writing, ALGO ranks 58th in the top 100 cryptocurrencies by market capitalization, with a market cap of $1.38 billion. Calculating ALGO Holdings for Millionaire Status: To calculate the number of tokens needed to become a millionaire when ALGO returns to its historical peak, one can use the following formula: Number of tokens = Target amount / Expected future price, Where: - Target amount = $1 million - Expected future price = historical maximum of $3.56 Based on this, approximately 280,898 tokens would be required to reach a balance of $1 million. At the current price of $0.1721 per token, the total cost of acquiring these tokens would be $48,370. Risk Considerations: It's important to recognize the inherent volatility of the crypto market and its susceptibility to "black swan" events. The calculations provided are based solely on current data and assumptions. Always remember to adhere to risk and money management principles and only trade with funds you can afford to lose. Read the full article

[theterragreen]

Revenue and Monetization

TerraGreen Coin will have two constant and major sources of revenue from platforms first deployment. TerraGreen coin will get 1.5% of the total reward distributed by the biomass waste processing industry to the generator or possibly to any waste disposer. Also, it will receive 4% of the total amount paid by any coin holder for advertising contents.

 Further, TerraGreen will introduce other sources of revenue as below.

 1.         Platform Adaption Fees.

2.         Royalty for the use of patented technology.

3.         Tender Acquiring charges with large scale manufacturing of tools.

4.         Lending TerraGreen network and its computing power.

In this process of deciding the time and form of starting these sources of revenue, the users will have a fair share of role to play and will have highly effective voting rights.

TerraGreen Coin wishes to become profitable by the end of Q3 2021.

 TerraGreen coin admits that the widespread adoption of the platform will need an excellent financial scope of profitability and that too as soon as possible and the similar will be taken care of, catalyzed and enabled by TerraGreen coin.

The main purpose of TerraGreen Platform is to develop a renewable energy ecosystem that uses the blockchain technology to exchange and deliver green energy with no central authority or any trusted third-party having control over the platform.

Hence, this results in the possibility for an individual or investors to take control of their future energy use.

Also, it allows monetizing the energy-related work. The tokenization of renewable energy production makes TerraGreen token a usable option as the digital currency.

 The TerraGreen token is generated by producers of renewable energy and thereby trade these tokens within the TerraGreen platform.

 One can use TerraGreen Coins in below mentioned ways

 The TerraGreen coin can exchange through the largest online exchanges for other digital assets or fiat currencies (USD, EUR)

TerraGreen coins have the potential to be used for payments. Hence, TerraGreen platform aims at merging with the payment network for goods and services.

TerraGreen has branding value for ecological and environmental purposes. TerraGreen has already moved in this direction, discussing, having and meeting with a potential client who wants to use TerraGreen coin for payments and rewards.

TerraGreen Coin can be used as a loyalty program for its users and hence will benefit its customers with the appreciation of the digital currency.

TerraGreen coins could be combined with the equivalent of avoided CO2 emissions certificates. TerraGreen could be used to restore the carbon trade system via crypto carbon credits.

Visit Us: https://terragreen.io/ https://ico.terragreen.io/ https://wallet.terragreen.io/ http://blockchain.terragreen.io/ https://medium.com/@support_61820 https://github.com/TERRAGREEN

[mycoderesist]

What is Evouteiq By combining process automation and sophisticated data processing in a resilient low-code, no-code development environment, the platform enables enterprises to build end-to-end digital native solutions. It discovers existing digital hooks that can benefit from hyper-automation through cognitive automation and process modernization. EvoluteIQ arose from a worldwide technological conglomerate that has been around since 2007. The core platform has been developed over time with the goal of making application development easier and accelerating integrated automation. As businesses implement packaged automation technologies such as RPA, AI/ML, NLP, and Intelligent Document Processing, the requirement for a smooth customer journey becomes increasingly important in order to allow end-to-end automation adoption and scalability. The platform enables organizations to construct end-to-end digital native solutions by integrating process automation and advanced data processing in a robust low-code, no-code development environment. It identifies digital hooks that can benefit from hyper-automation via cognitive automation and process modernization. Thee.IQ platform, which can install on-premises or in the cloud, integrates and homogenizes different automation technologies to speed hyper-automation. The platform then allows citizens to utilize a low-code, no-code interface to create safe, scalable apps or end-to-end user experiences. The most prevalent AmperAXP industries include Banking, Insurance, Telecom and Media, Healthcare, Retail and CPG, Energy and Utilities, Operational Resilience, Customer Experience, Finance and Accounting, Legal and Risk Management, Supply Chain Management, Sales and Marketing, etc. EvoluteIQ's major focus is on enabling organizations to accelerate hyper-automation with e. IQ-powered hyper applications that use current company technology. Since its inception, they've been tireless in their pursuit of helping businesses create homogenous automation environments that can leverage by non-technical employees to create automated customer journeys and apps. Its mission is to be the go-to enablement platform for all hyper-automation programs to do it with the ease of e.IQ technology. What EvoluteIQ can Offer For ongoing process improvement, use an Intelligent Business Process Management Suite (iBPMS) to create sophisticated process applications. With simple drag-and-drop capabilities, define and construct data flows. Utilize customizable nodes to manage data-at-rest and use it like microservices. Complex Events Processing (CEP) allows users to process and evaluate events in real-time to forecast real-time dangers and opportunities. Using dynamic ML models with continuous learning capabilities, forecast future behavior, assess patterns, and predict outcomes. With easy-to-use libraries, connect diverse business-critical systems and services at rapid speeds. With sophisticated analytics and graphically appealing reports, users may gain actionable insights into the business. Using fresh or pre-built templates, create aesthetically appealing and dynamic online forms for processes. Converge business portal includes drag-and-drop nodes for speedier deployment. Why EvoluteIQ A built-in rule engine can use to create rules. Maintain smart forms with a user-friendly interface. APIs can use to connect to third-party programs and human activities. It is possible to connect and process data from any source. Users may simply construct flows using the visual modeling canvas. Integrate machine learning into the data flow Large data quantities can be handled using very scalable algorithms. To make third-party integrations simple, use APIs. Allow customers to choose the most appropriate machine learning model.

[sophiasmithg]

What is the Coolest Application of Blockchain Technology?

Explore various applications of blockchain technology across different industries for improved efficiency and transparency.

Blockchain technology has been a buzzword recently and has reshaped how we manage data, security, and transparency throughout business operations.

From fintech to healthcare and logistics, blockchain adoption is rising. To scale in the digital landscape, you must hire blockchain developers for better blockchain development services.

This blog highlights the 9 coolest uses of blockchain technology, reflecting its versatility, and potential to transform business operations and information security.

What is Blockchain Technology?

Blockchain is a decentralized, immutable ledger system that records transactions across the network. It ensures transparency, security, and trust without the need for intermediaries.

Core benefits- 

Enhanced security through cryptographic encryption.

Decentralization eliminates single points of failure.

Transparency and immutability foster trust in transactions.

Efficiency gains from automated and streamlined processes.

Cost reduction by eliminating intermediaries and administrative overhead.

Build scalable Blockchain solutions with a blockchain development agency.

Increasing Popularity for Blockchain in 2024

Today, users are more aware that blockchain benefits are one of the top drivers of this technology. The adoption of blockchain has improved transparency and also simplified business processes. 

Also, the growing popularity of blockchain as a service and low-cost ownership has driven the global blockchain market. Most businesses adopt blockchain for smart contracts, payments, and digital assets, offering potential growth opportunities. 

Top brands like Adobe, Allianz, Baidu, etc use Blockchain Technology.

Do you know?

The global Blockchain market is estimated to rise 58.90% CAGR from 2016 to 2024. 

Almost 3 out of 10 Organizations in the baking sector have used blockchain technology.

India Has The Highest Blockchain Adoption Rates Worldwide

Start your blockchain app development with top blockchain developers. From finance to non-finance, every sector is adopting blockchain technology. 

Let us explore different applications of blockchain technology across industries.

Applications of Blockchain Technology

Smart Contracts

Smart contracts are self-executing agreements with en-coded terms. They automate and enforce contract execution without intermediaries, simplifying legal and financial transactions. Blockchain keeps them secure and immutable for various applications, from insurance payments to real estate transactions.

These contracts are set to execute automatically when the predefined conditions are met, minimizing fraud. Many companies are adopting smart contracts in their legal operations to improve efficiency, reduce costs, and transparency. Choose Blockchain smart contract development services with us. 

Healthcare

The healthcare industry is evolving and blockchain has been one of the factors driving its advancement. Today, the entire healthcare value chain can implement blockchain, from reducing costs to improving business operations and making information accessible across stakeholders. 

Blockchain technology applications not only help healthcare organizations but also help patients and consumers. 

It also contributes to extensive clinical trials to collect and secure patient data. 

It helps verify whether a patient has insurance and is covered.

The blockchain platform facilitates continuous communication between patients and doctors, supported by a seamless flow of medical data. This ensures swift and secure diagnoses by any medical professional, leveraging comprehensive medical histories.

Hire the best blockchain developers and blockchain development company in India.

Blockchain and IoT

The Internet of Things (IoT) has transformed the way people connect devices and communicate. Today, IoT has exposed networks and devices for hackers to steal your data.

With Blockchain-infused IoT, you will get a second layer of security that safeguards user data ensuring transparency. 

Blockchain allows secure and decentralized sharing of IoT data to improve data integrity and privacy.

IoT devices execute transactions autonomously using smart contracts on the blockchain for seamless supply chain management and device payments.

With Blockchain, you can verify IoT devices' identity to prevent unauthorized access and enforce trusted interactions.

Look for Blockchain consulting for better IoT integrations. 

Blockchain Cybersecurity

Do you know Crypto Users Lost $1.8 Billion In 2023 To Hacks And Scams? With blockchain, you can help safeguard data to the greatest extent.

Blockchain stores data decentrally, making it harder for hackers to alter information and protect against DDoS attacks.

It enables secure and verifiable identity management, helping to prevent identity theft and unauthorized access.

Blockchain keeps transaction records transparent and unchangeable so you can track and audit any security breaches.

Logistics 

The shipping industry struggles with poor communication and transparency because of the many logistics companies involved. As per Accenture and DHL, over 500,000 shipping companies in the U.S. lead to data silos and transparency issues, suggesting blockchain as a cost-efficient solution that `can address these problems to improve logistics and supply chain management.

Blockchain can build greater trust within the industry. 

Blockchain can make the logistics process leaner and more automated, saving millions of costs. 

Enables multi-tier visibility across supply chain systems to detect issues easily.

NFTs

Non-fungible tokens (NFTs) are one of the top blockchain applications. These can be any digital items, like music, art, GIFs, and videos, sold on a blockchain, ensuring that only a sole owner has full rights. Due to blockchain technology, users can claim ownership over their digital assets.

Blockchain ensures NFTs are authentic and unique, preventing fraud.

It provides a clear ownership record for NFTs, making it easy to track digital assets.

With Blockchain, creators can get automatic royalty payments when the NFTs are resold.

Government

Blockchain applications reduce the need for centralized government organizations but intensify the conflict between governments and cryptocurrencies. Governments recognize the potential of blockchain technology and are actively seeking ways to enhance operational processes using blockchain services. Many governments have already implemented blockchain for various purposes.

For example- Venezuela and Russia have launched their national cryptocurrencies to improve transparency and reduce corruption. Blockchain technology can create immutable voting systems, reducing fraud and fostering honest elections. It can improve identity management and tax administration for more reliable systems.

Social Media

Social media platforms have dominated our lives but come with potential issues like data breaches and poor user compensation. It's fair to say social media is losing its credibility.

Blockchain is set to transform social media by improving these platforms. 

With its decentralized and distributed ledger structure, blockchain protects user’s personal information and potentially earns rewards from the content they select and share. Blockchain technology can significantly improve traditional social media.

Artificial Intelligence

Decentralizing AI can create Decentralized Autonomous Organizations (DAOs), businesses that operate independently using smart contracts, without centralized control. 

An AI-powered DAO can learn from data and optimize itself more efficiently than human design. Combining blockchain and AI, or "decentralized AI," could revolutionize data security, monetization, and intelligent algorithms.

Blockchain applications are not limited to these industries mentioned above. Once you tap into a new industry, you will find scenarios for blockchain integration to improve and secure the process. 

[Also Read- How Much Does Blockchain App Development Cost: A Detailed Overview]

Build Secure Blockchain Apps with OnGraph

In today's digital landscape, embracing decentralized technology like blockchain is essential. It's revolutionizing transactions, data management, and supply chains, enhancing security, traceability, and operational efficiency.

As a leading Blockchain Development Company in the USA, OnGraph provides a blockchain development team to deliver customized solutions for your Blockchain requirements. With our team of expert web app developers, we offer a range of services, from building secure decentralized applications (dApps) to seamless blockchain integration solutions.

[techcouncilglobal]

Blockchain platform is one of the leading and emerging platforms which enable next-generation transparency, security, and efficiency in business. Visit Blockchain Council to know the top 10 blockchain platforms.