BlockChain
Introduction
Imagine a world where you can send money directly to someone
without a bank & transaction fees it is possible only via Blockchain
Technology.You don’t need a bank’s permission to access or move it,
and never have to worry about a third party taking it away, or a
government’s economic policy manipulating it.anyone can use the
technology to run and own their own blockchains.
A blockchain is a type of database.A database structures its data into
tables whereas a blockchain, like its name implies, structures its data
into chunks (blocks) that are chained together and secured using
cryptography. This makes it so that all blockchains are databases but not
all databases are blockchains. Each block typically contain a
cryptography hash, a timestamp and a transaction data. A hash is a
unique digital signature generated cryptography which links the two
subsequent blocks to form a chain.
In is Based on Three Concepts,
1) Block - It is a time bound collection of data that is published into
ledger entered into the block chain over a given period of time
2) Chain - It is a collection of blocks that are linked together referencing
hashes from the previous block. Hash being the glue that holds the
block chain together and creates trust.
3) Network - It consists of computers that host the information entering
the block chain via transaction. Before any permanent entry is made
into the block chain, all nodes verify the transaction. Nodes are
computers or system operating on a larger network.
Blockchain properties
1 ) Immutable - unchangeable, meaning a transaction or file recorded
cannot be changed. It is Accurate & Secure
2) Distributed Ledger - data stored in multiple places on a computer
network.Being distributed protects the blockchain from network attacks.
Types of Blockchain:
1. Public Blockchains
Public blockchains are open, decentralized networks of computers
accessible to anyone wanting to request or validate a transaction . For
example, Bitcoin and Ethereum (ETH) . It uses proof-of-work or proof-of-
stake
2. Private Blockchains
Private blockchains are not open, centralized and they have access
restrictions.For example, Hyperledger.
3. Hybrid Blockchains or Consortiums
Consortiums are a combination of public and private blockchains and
contain centralized and decentralized features. For example, Energy
Web Foundation, Dragonchain, and R3.
4. Sidechains
A sidechain is a blockchain running parallel to the main chain. It allows
users to move digital assets between two different blockchains. For
example,Liquid Network.
Types of Blockchain Development Services,
Public / Private Blockchain Development
Create Your Own Blockchain
Blockchain IoT Development
Hyperledger Development
P2P Lending Blockchain Platform
Solidity Development
Cryptocurrency Development
Cryptocurrency Exchange Development
BlockChain Technology using Industries,
Healthcare
Media and entertainment
Retail and consumer goods
Ecommerce
Banking and financial services
Gaming
Telecommunications
Travel and transportation
Digital Records
Automotive
Supply chain
Benefits of Blockchain
Enhanced security
Individual control of data
Tokenization
Immutability
Reduced costs
Trust
Greater transparency
Instant traceability
Increased efficiency and speed
Automation
NFT - Non-Fungible Token
NFT stands for non-fungible token. It’s generally built using the same
kind of programming as cryptocurrency, like Bitcoin or Ethereum.
An NFT is a digital asset that represents real-world objects like art,
music, in-game items and videos. They are bought and sold online,
frequently with cryptocurrency, and they are generally encoded with the
same underlying software as many cryptos.
ERC-20 : It is fungible asset
ERC-721: It was representing for non-fungible digital assets on the
Ethereum blockchain.ERC-721 provides core methods that allow tracking
the owner of a unique identifier, as well as a permissioned way for the
owner to transfer the asset to others.Supports transferring one token at
a time
ERC-1155: It was fungible or non-fungible tokens.The ERC-1155 token is
a new type of standard token within Ethereum with the ability to change
the landscape of DApps within this blockchain, thanks to its multi token
capacity and a new number of functions designed to provide a better
user experience. and programming.It is secure, tradable and immune to
hacking.Supports batch transfers of many token IDs in a single
transaction.
DEFI (Decentralized Finance)
DeFi, or decentralized finance, is a new way to execute financial
transactions through applications. It cuts out traditional financial
institutions and intermediaries and is conducted over the blockchain.
Think of it as removing brokerages, exchanges, banks and other
intermediaries from the equation.Most run on the Ethereum blockchain.
DeFi much safer and more difficult to penetrate by traditional hackers
and malicious activities.
Decentralization" refers to the lack of a central exchange. Smart
contract programs for the DeFi protocols themselves are run using open
source software by a community of developers and programmers.
DeFi Development Services,
Like example,
DeFi Lending/Borrowing Development
DeFi Smart Contract Development
DeFi Dapps Development
Decentralized Exchange Development
DeFi Token Development
Crypto Token
A crypto token is a virtual currency token or a denomination of a
cryptocurrency. It represents an asset or specific use and resides
on their blockchain.
Tokens can be used for investment purposes, to store value, or to
make purchases.
Cryptocurrencies are digital currencies used to facilitate
transactions (making and receiving payments) along the
blockchain.
Altcoins and crypto tokens are types of cryptocurrencies with
different functions.
Created through an initial coin offering, crypto tokens are often
used to raise funds for crowd sales.
Types of Tokens
Security/Equity Tokens
Reward Tokens
Utility Tokens
Asset Tokens
Currency Tokens
Token Development services,
EOS Token Development
Tron Token Development
Ethereum Token Development
Binance Smart Chain BE20 Token Development
