Sentences with phrase «verified by the blockchain»

When a transaction is made with a decentralized digital currency, it has to be verified by the blockchain in order to be confirmed.

All cryptocurrency deposits must be verified by the blockchain community.

And because the stolen Bitcoins are transferred to anonymous users, through a process that's verified by the blockchain and recorded forever, there's no way to find the attacker or retrieve the Bitcoin.

This appears to be the case because ShapeShift must process the transaction after the order has been received and verified by the blockchain network.

Basically, this would allow dollars to be sent and verified by the Blockchain.

Not exact matches

Those entries in the blockchain record are then verified by other people on the network.

Underlying the controversial web - based «cryptocurrency» is the blockchain - a massive ledger of every bitcoin transaction ever made that is verified and shared by a global network of computers.

The transaction is then packed and timestamped by cryptography, verified and shared by blockchain users, and locked to ensure John can not retrieve the five bitcoins he has given Sophie.

Blockchain will be used as a trusted validator for verifying official credentials by one of the most prominent medical NGOs in the US.

Bitcoin is open and viewable by everyone in the world, and what makes it amazing is this public ledger called the blockchain, which is immutable; meaning transactions in the blockchain can never be changed once verified.

Unlike these examples however, mining is also the way to secure the network by creating, verifying, publishing and propagating blocks in the blockchain.

Which means that blockchain could «contain thousands, millions, or billions of blocks, each of which must be verified by the new node prior to the generation and addition of new blocks to the blockchain.»

The successful program allowed copies of records held by the land registry and all other parties to the transaction, such as banks and real estate agents, and each step of the property purchase process to be verified and recorded on blockchain for all parties to see.

That is why record - keeping industries like the accounting industry have been attracted to & Blockchain technologies; the Blockchain network is secured by cryptography and verified by a network of computers — not human workers.

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.

A provisional patent filed by Apple in December describes a blockchain system designed to create and verify timestamps that could be used to fight hackers and certify digital signatures.

Once the block is filled with transactions, it will be verified by miners, and when a block is verified, it will be ready to be attached to the blockchain.

Mastercard has filed a patent for a Blockchain system to store and verify identity data, in an application published by the U.S Patent and Trademark...

Proxeus, which allows users to build workflows without the need to learn a new programming language, explained that by shifting the entire registration process to blockchain technology, the key steps can be processed instantly, drastically reducing the time it takes to verify the multiple steps of registration.

In the public blockchain system, all users follow an algorithm that verifies transactions by committing software and hardware resources to solving a problem by brute force (i.e., by solving the cryptographic puzzle).

This method employs the same logic as blockchain technology, namely that trust can be established by the system without the need for third parties to verify actions and transactions.

A collection of these transactions is then verified by miners, and transmitted to all users of the cryptocurrency as a block, to be stored on the chain known as a blockchain.

Once the contract executes, the money is transferred from my wallet to yours and is automatically witnessed and verified by regulators on the blockchain.

The transactions are verified by Bitcoin Miners, or people who use their computer hardware to help figure out the mathematical formulas that need to be solved in order for a block full of transactions to be verified, or confirmed, and added to the blockchain.

Through the use of blockchain technology, Litecoin is able to handle transactions without the need for intermediaries or outside interference, and all transactions are easily verified by examining the blockchain.

Blockchain Used To Verify Election Results «Any adult could punch into the phone his or her code, followed by a yes or no.»

NetDocs goes on to say that «incorporating blockchain technology into NetDocuments» governance platform enables sensitive and transactional documents to be verified by posting to an open - source digital ledger, validating document details such as canonization, approval, status, filing and other relevant document information».

Notary publics will serve no purpose because data on the blockchain is automatically verified and date - and time - stamped by the system itself.

KSI stores hashes of original data and files on the blockchain and verifies other copies by running hashing algorithms and comparing the results with what is stored on the blockchain.

«Blockchain» means an electronic record created by the use of a decentralized method by multiple parties to verify and store a digital record of transactions which is secured by the use of a cryptographic hash of previous transaction information.»

Created by Rublix, one of the most advanced DApps, Hedge, is designed for traders to share high - quality information verified using smart contracts and an immutable blockchain constructed to showcase prominent information.

Issued by Inserviss, setcoin is a verified cryptocurrency that operates on the blockchain technology.

Valorem, like many other cryptocurrency platforms is a decentralised blockchain that was launched to create a new level of trust between individual users by using the Valorem Platform as a means of verifying transactions.

Using the power of Blockchain technology, Set Coin is a verified cryptocurrency issued by In - services for payments between service providers...

Where the Bitcoin blockchain achieves security by publishing all transactions publicly, the Zcash blockchain verifies encrypted transactions through an approach called the Zero - Knowledge Proof.

«Private blockchains are a way of taking advantage of blockchain technology by setting up groups and participants who can verify transactions internally.

The learning platform will give both the teachers and the students a digital, trusted record showing their accomplishments, which can be — thanks to the nature of blockchain technology — easily verified by future employers or educational institutions.

Whereas Blockchains rely on every node in the network having a full copy of the database and verifying the data, in IOTA's distributed ledger, peers keep only the data needed, and transactions are verified by a couple of randomly - selected peers.

The transactions are verified by a network of nodes and recorded on a blockchain.

The result of this union is called FashTech, where a clothing collection can be verified on the blockchain through Near Field Communications (NFC)-- which allows devices to communicate with one another when brought into close proximity — or by scanning the QR code on the label.

The start ups aims at making bitcoin transactions faster and easier by replacing the costly and time - consuming process of recording every transaction on the blockchain, a publicly viewable ledger verified by a network of thousands of computers.

The bloackcahin will store users» verified sports health data and activities by encrypting it in the blockchain.

It is the whole data of verified health and sports by using blockchain technology.

And because all transactions and contracts are verified independently by the blockchain itself, this adds the ability to automate audits, accounting and record - keeping.

This fee is not set by or payable to the platform, it is rather needed in order to verify the transactions on the blockchain.

A scarce token can also be automatically redeemable for a digital good or computing service provided by the same network of computing participants who verify the blockchain.

The reason this works is the bitcoin blockchain is a proof - of - work authenticated chain, it is secure because you personally can verify the blocks are correct by running a fullnode, and verifying that you are receiving the corrrect version of the blockchain by sticking to the most - work valid chain version.

: First, your Bitcoin client downloads the entire blockchain from other nodes piece by piece; second, it tracks and validates all balances and transactions on the blockchain from the beginning of Bitcoin's history; and finally, it arrives at an independently verified current state and list of balances.

By placing a hash value - a set of cryptographic functions that enable people to identify data - of his digital artwork on the bitcoin blockchain, the artist enables potential buyers to verify that the artwork has been licensed.

In fact, when you run the Bitcoin software for the first time, this is exactly what happens, in a process known as syncing: First, your Bitcoin client downloads the entire blockchain from other nodes piece by piece; second, it tracks and validates all balances and transactions on the blockchain from the beginning of Bitcoin's history; and finally, it arrives at an independently verified current state and list of balances.