Blockchain provides an alternative solution to classic technology. To this day, blockchain has found extensive application in many areas - from finance to hospitality and medicine. It plays a significant role in software development and brings great value and convenience to the lives of end-users. As more enterprises embrace the technology, we expect to see blockchain growth and innovations for years to come.
Blockchain technology is currently applied in many industries. It can be potentially of great use in the oil and gas industry, especially in the aspect of management and decision making, trading and cybersecurity. This innovative technology is used in situations with large volume and frequency of transactions, when cross-border entities are involved, and when data from previous transactions is used for the next transaction or the following entity.
Blockchain is an attractive solution if there is an intention or needs for the database to be decentralized. It is also a perfect choice if you want to achieve higher data security and safety. Through greater transparency, greater security and easier traceability, blockchain technology can bring many opportunities and numerous benefits to your business.
Ethereum claims that, with upcoming updates, it will be able to process transactions extremely fast without reducing ecosystem decentralization, which is the primary goal of any crypto project.
Smart contracts are currently the most actively explored field within the blockchain society. They can bring many potential benefits to various business sectors, and we will talk more about these benefits in this article.
“The future of IT will be many private enterprise blockchains, many private consortium blockchains, and some public blockchains, like Ethereum.”
The Blockchain ecosystem is rapidly developing. Ethereum is definitely the technology that is at the forefront of this domain as one of the most used blockchains with most of the development and innovation happening on it. In that manner, it is not a surprise that we see the emergence of new tokenization concepts and smart […]
Blockchain technology reaches into all spheres and industries. Some are less prone to disruption while some a bit more. So how is one of the biggest industries of oil and gas standing in that ring? Ready for disruption? Absolutely. According to research from IBISWorld, a globally recognized company in the field of business intelligence, the […]
0x is an open protocol for decentralized exchanges, and in this article we will just give you a little bit of background and timeline on 0x protocol. We will describe the problem that 0x is trying to solve, and let you know about existing work that is done on it already. This article is an […]
In the blockchain industry, we hear a lot about consensus algorithms, we debate about them and try to learn as much as possible. As you know, to reach consensus on the network Bitcoin is using proof of work (PoW). Ethereum is using it as well but soon will replace it with proof of stake (PoS). […]