Most already-existing computational systems which aid human activities run on centralized systems, which management rely on a single central server (or a host of central servers). This is true for all sectors, from governance, public service, business, telecommunications and finances. Although they are familiar and convenient to manage, the centralized systems have some limitations. The …
Peer-to-peer network (P2P) apps are highly popular mainly for telecommunications (Signal, Skype and Telegram) and document sharing purposes (BitTorrent). The main advantage of the P2P apps is: the communication and activities within these apps are conducted directly among the participating nodes, without the mediation of central servers. This way, data and information can flow smoothly, …
The invention of bitcoin, the first cryptocurrency, in 2008 was a response to the property bubble in the United States (US) which had triggered a worldwide financial meltdown. The invention has boosted public enthusiasm on the great promises that decentralized finance can fulfil in terms of improving welfare while closing the socioeconomic gap. Currently, we …
As more and more governments turn toward technology to make governance more effective, a practice to which people refer to as e-governance, we have also seen an uptick in blockchain adoption among public administrations to manage citizens’ documents and certificates. Governments which have adopted blockchain into their citizen affair management system usually cite the platform’s …
Before we start discussing how blockchain can improve document management, let us start with centralized document management, of which people are more familiar. Document management under the centralized system has several limitations. Centralized document issuances might require long, inefficient administrative processes involving various middlemen and it just gets more complicated when the document involves the …
Blockchain provides value-added document management systems Read More »
Decentralized technology comes with lots of promising things in terms of its applications, especially in the fields of trade (not trading, mind you!), supply chain and document management. Yet, it is still at its infancy in its stage of development and has several weaknesses. One of the criticisms often leveled against the decentralized technology is …
Can we make block mining activities less energy-intensive? Read More »
As those of you who work in the blockchain industry have already known, Satoshi Nakamoto is the “founding father” of modern cryptocurrency, with his invention of bitcoin in 2008, in response to the global financial meltdown triggered by the US property bubble. He wrote a white paper which laid down the foundations for modern cryptocurrency …
Corruption is a global problem and it permeates all kinds of institutions, from corporations, governments, even institutions that work to support noble causes such as non-governmental organizations (NGOs). Corruption in the public sector is so prevalent that the Berlin-based organization Transparency International (TI) is publishing an annual report of corruption perception index (CPI), which ranks …
We have already understood at this point that decentralized peer-to-peer networks have no single central authority who controls and oversees their operations. Because of this, peer-to-peer networks require a more proactive role among their participants who run the networks through their nodes (namely, the computers they use to run the networks). In order to motivate …
Sustaining peer-to-peer network operations through block reward Read More »
Blockchain security issue is an endlessly fascinating discussion subject. Decentralized networks are ever-evolving and their adoption is not yet mainstream so it is still kind of new; this fact explains why a lot of people are still unfamiliar with blockchain security issues. Decentralized systems pose security issues that are different from centralized ones. Transactions in …
Proof of participation and its functions in securing the blockchain Read More »
