Why it’s important to extend Blockchain influence to a real market?
The technology of the blockchain is one of the most topical among nowadays’ technologies . It was first mentioned in the technical documentation (white paper) of Bitcoin back in 2008. It is unlikely that someone could imagine then an infinite number of possibilities of application of this technology literally in all spheres of life.
At its core Blockchain technology is a new format for distributing a database independent of a particular source. It is a continuous and sequential chain of blocks containing information, where each successive block is linked to the previous one. The chain itself is built according to certain rules that no one can change in their favor, including because no one can own it. Blockchain with the addition of each new link updates itself on each of its copies, which is stored by all users of a particular chain, completely eliminating the possibility of fraud. All data in the chain is encrypted with special keys, and they-blocks and their contents — are always open to all, providing the opportunity to select any block and track the change of information in it. In other words, having a unique key, it is impossible to understand what kind of door from the infinite set it will fit, and standing in front of the door without a key, it is impossible to open it. Openness and security of information at the same time — these are the main qualities of the blockchain.
Blockchain in the real sector of the economy eliminates the need for all sorts of intermediaries between a person who wants something and the solution of his problem. Banks, government agencies, insurance companies, controllers and auditors all lose their importance, because they no longer need the permission and approval of some authorities, whose position may not coincide with yours. Your money is your money, your information is your information. In the world of blockchain, everyone owns the world! That is why the development of real projects that make the technology more accessible and understandable for a wide range of users is important for the development of technology and its further dissemination.
A good example is our Vecap project — we ensure the security of the smart home network through innovative blockchain technologies and smart contracts. Every action carried out on Vecap platform will be recorded in an immutable and virtually invulnerable database — in order to crack it, the hacker would need to get access to the management of 51% of individual devices, which becomes absolutely impossible as the project spreads around the world.
Vecap combines all smart homes into a single decentralized network and protects their data from intruders. The platform uses an innovative security standard that is independent of the built-in security features.
Thus, thanks to Vecap, hackers will no longer be able to penetrate the smart home data network and violate their privacy, as they will no longer depend on a group of disparate storage devices on the company’s vulnerable server. At the same time, Vecap will be able to make your data network not only safer, but also much faster and more efficient. Based on the concept of an open and secure database, users can be assured that their equipment will be protected.
