ICON is addressing an inevitable problem in the cryptocurrency market — how
do different blockchains work with each other?
Not exact matches
TUNG: The government is very aware of what
blockchain and the
different cryptocurrencies can
do.
Yes,
blockchains have to fork to upgrade the software, but
doing so is
different than forking to alter entries that were written into the
blockchain previously.
The task of maintaining the credibility of a
blockchain, verifying
different transactions on a block, and adding blocks to the chain is
done by miners.
There is the permission list — bitcoin, Ethereum, public
blockchains — and then there is a whole other ecosystem where established financial institutions, kind of the traditional market if you want to think about it that way, is trying to apply this technology but in a
different way using private networks where you don't need the same trust because these banks will know each other.
«The Dubai edition was Middle East's biggest
blockchain summit when we
did it last year and moving on this year we are
doing this
blockchain summit in ten
different cities all over the world.
«There might be some applications that might get their own ledger, [but] there's just so much
different stuff that people are
doing with
blockchains you're not going to create a specialized platform for each one.»
«Trying to
do smart contracts, and social media, and a distributed file - storage system, and all these
different things on top of the Bitcoin
blockchain — it's like trying to have your browser
do everything for you.»
While public and private
blockchains are often pitched against each other, Baldet told CoinDesk in an interview, «I don't think those two things need to be so
different or are necessarily mutually exclusive.»
In the interview, the prince said that the
Blockchain is very interesting as it can revolutionize how we
do business, not to mention that it has a lot of practical applications in
different areas such as the medical and automotive industry.
The protocol that Olympus Labs uses has to solve the issue of how two parties from
different blockchains who
do not trust each other can execute a sophisticated transaction.
«I'm trying to understand what is the actual added value that the
blockchain provides, is it enabling anything new and
different that could not be
done before?»
Many of the
blockchain technology projects in development right now don't look much like Bitcoin, and they also come with a
different set of security tradeoffs.
BUIP001
does not ensure machine consensus; users can configure their nodes to split into
different blockchains, either intentionally or unintentionally.
An idea doesn't have to be unique, per se, because there are so many
different blockchain ecosystems being built.
While many
blockchain projects that appeared around the same time that DigiByte
did are purely focused on monetary transactions, DigiByte is
different.
There are a few
different blockchain projects out there named Sphere, so don't get confused.
This past August's bitcoin cash fork
did not have consensus, and this means the
blockchain diverged into two networks with
different rule sets.
At the other end of the spectrum is the permissioned
blockchain, and it represents a whole
different way of
doing business.
I
do GitHub analyses of
different ICOs and of established
Blockchain projects as well.
Superadded by
blockchain, IoT can also diversify access to devices owned by corporations the way permissioned ledgers
do, with
different users having
different levels of access.