In the blockchain space, throughput has been a hot topic for quite some time. It became especially relevant during the 2017 cryptocurrency boom, when Bitcoin became saturated and Ethereum was crippled by popular decentralised applications (DApps) like Cryptokitties. To reach mainstream adoption, blockchain networks need to grow in a safe and secure way. This article will try and get you up to speed with the contentious issue of scalability.
We can best answer this question by asking what is stopping it from going faster. …
In a previous article we suggested the potential benefits of tokenization of assets for better financial management, which can be read here. However, finance is not the only area that can benefit from tokenization. If you think about the future of how a business will run, you might imagine being able to look at an item in your warehouse through your augmented reality glasses and instantly see all its information. This might include higher level information (amount of stock, value, demand) and even lower level data (parts used, running metrics, environmental impact, any paperwork attached to each item: invoices, licences)…
Liquidity and cash flow are crucial in small and medium sized enterprises and can even cause issues for large scale corporations if not properly managed. For a business to function it must make investments to make future revenue, these investments range in liquidity, from illiquid premises and machinery to highly liquid stock. These investments lock up the business’s money for different time periods and this can leave them with little money to work with in the short term. …
Last time, we discussed The Oracle Problem, if you are not familiar with the topic then we suggest you read the article. Today, we will explain how Proof of Reality, the consensus mechanism behind the Younus blockchain, tackles this problem.
Proof of Reality is the consensus mechanism proposed for the Younus blockchain. A consensus mechanism should ensure the blockchain is immutable, can run with zero trust between the parties running the nodes, and should protect against double spending. Proof of Reality takes this one step further, it also wants to solve The Oracle Problem.
The Oracle Problem is the issue…
As blockchain technology grows and new applications are found, it is evident for the need of a blockchain to interact with non-blockchain entities. Where cryptocurrency, the successful poster child for blockchain, can exist by moving value inside the blockchain itself, the technology has the potential to go much further.
Some of the most exciting blockchain applications involve interacting outside of the chain. Using real-world data and inputs to smart contracts and decentralised applications.
· Healthcare Data
· Asset ownership
· Decentralised ecommerce
· Supply chain management
· Decentralised exchange
· Energy management
All of the above…
The reality-based, scalable blockchain