Blockchain is only as useful as the DApp it’s powering
New technologies always inspire a lot of bad ideas as well as good ones — think of the missteps and failures that litter the history motor vehicles — so it takes careful analysis to discern the useful ideas from the hype.
Blockchain has the potential to rearrange the way software works and hold up a new standard for security and access. But it’s hard for most people to see the utility of this misunderstood platform through the veil of misinformation surrounding it.
Some applications of technology are functional and solve problems, like a Jeep, while others are just expensive and poorly designed.
Products that solve problems are the ones that get traction and stay the distance. Blockchain is an emerging technology, so it’s vital to assess it on projects that have real-world utility.
What is Blockchain good for?
A lot of people hear the word “Blockchain” and immediately think of cryptocurrency like Bitcoin. Bitcoin is the Blockchain application everyone knows about because it’s been around the longest and has received a lot of media attention.
Part of the reason Bitcoin has name recognition, regrettably, is that its value has been volatile, to say the least. There is still heated debate about whether it will have any real-world application long-term.
Over the last 12 months the Blockchain space has expanded explosively, but in the abundance of new ICOs there are a lot of half-baked projects just trying to get mileage out of the crypto craze.
Sifting through the ICO glut and finding the Blockchain applications that really add value and solve problems is the key to wise ICO investment.
Blockchain projects should make use of the platform’s key utilities to have real value. Blockchain is a powerful engine, but it’s only as useful as the machine it’s driving.
“Uncloak uses Blockchain to manage and verify the vulnerabilities we find. We’re building a huge international network of approved threat hunters: testers, researchers and white-hats. Using a Blockchain platform to handle all the incoming data that network is generating guarantees the legitimacy of their work. Every piece of intel sent into the Blockchain system is checked and voted on. The threat database that the system creates is also backed by the Blockchain, meaning that it can’t be tampered with. Once a threat is identified it’s there forever as part of the immutable ledger. Add to that functionality an AI engine that’s also adding to the threat database by spidering through the dark web and you have a powerful set of features. This DApp, or Decentralised App, is useful because it finds and mitigates cyber-threats. It uses Blockchain to get the job done but Blockchain isn’t the product, it’s the machinery that the system is built on.” — Phil Jackson, CTO, Uncloak.
The decentralised future
When Apple launched the fledgling App Store in 2008 with a few hundred apps it was hard for us to imagine at the time how massive the app industry would grow in a mere decade.
The iPhone was seen as “revolutionary” when it first launched, and not all the reviews were positive. Big, expensive, lacking a keyboard; it’s become so ubiquitous now that it’s hard to recall what a gear change iOS represented in the mid-2000s. But apps were the key to iPhone’s success. They brought the powerful functionality of data-enabled mobile devices within reach of consumers. The machinery that drove them was already there, but apps made it accessible.
Apple gambled and won: iPhone ended up making their fortune. The company that invented apps and risked everything on a new idea ten years ago is now worth a trillion dollars.
Sometimes, doing things differently is a good business model, even if it takes a while for people to catch on to the next big thing.
DApps have the potential to do for Blockchain what apps did for mobile internet.
“DApps have the same potential to revolutionise the way we work that apps did in the mid-2000s. The underlying centralised databases that power apps are their biggest disadvantage because they’re so vulnerable to hacking. A DApp like Uncloak, eliminates the problem of putting all your data “eggs” in one basket because as it shares information across the network, it makes a permanent record of that process which is available to every user.
With traditional database software if the central point is compromised then every user loses because they all refer to that central point of truth. In a Blockchain system, that can’t happen because the ledger is shared and updated in real time as the data evolves.
Another big advantage is that you’ve got automated governance where a community of users can make important decisions without a 3rd party moderator involved. That greatly reduces the administrative cost which is how why threat bounty system is cheaper as well as faster.” — Tayo Dada, CEO, Uncloak.
Blockchain is about to go mainstream
Widespread adoption of Blockchain technology is imminent. The tipping point will be the moment when useful, well-designed DApps emerge from the deluge of ICO click-bait and achieve mass-adoption.
Powerful blockchain systems are already available but the DApps that will make them accessible to consumers are just beginning to emerge.
Uncloak is positioned to be the first DApp to harness the power of Blockchain to disrupt cybersecurity provision.
The Uncloak Blockchain DApp is built to solve an important, specific problem. The cybersecurity crisis that the world is facing right now needs a better solution and Blockchain has a role to play in that. The decentralised structure of Blockchain can eliminate the inherent vulnerabilities in old-school centralised security software and allow cybersecurity researchers to work together fast and safely.
Learn more about Uncloak
Uncloak is not a crypto speculation vehicle; it’s a functional solution to zero-hour cyber-attacks that will be a watershed for both security and Blockchain development.
No business can afford to ignore the threat of cyber-attack. Even small companies have contact lists and financial records that are valuable targets for attackers.
Uncloak brings certified cybersecurity researchers and white-hat hackers together on a Blockchain based threat hunter platform to give companies up-to-the-minute protection.
Experience a demo of Uncloak right now on our website.