Blockchain

What Is a Blockchain?

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It is a growing list of records, called blocks that are linked together using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. The timestamp proves that the transaction data existed when the block was published in order to get into its hash, each block contains information about the block previous to it, they form a chain, with each additional block reinforcing the ones before it. Therefore, blockchains are resistant to modification of their data because once recorded, the data in any given block cannot be altered retroactively without altering all subsequent blocks. Blockchains are typically managed by a peer-to-peer network for use as a publicly distributed ledger, where nodes collectively adhere to a protocol to communicate and validate new blocks. 

 Blockchain Adoption!

The blockchain allows you to verify and track transactions in multiple steps that require verification and traceability. It's a quartet of secure transactions, compliance-proven standards, and faster processing of data transfers. Blockchain technology can help you manage contracts and verify a product's provenance

Private blockchain protocols can be used to create practical enterprise-level solutions that can connect multiple companies or individual departments within a company. Participants would have limited access and all confidential information would remain private as it should be.

The power of private and public blockchains can also be combined to achieve optimal results. This so called hybrid blockchain approach involves using a public blockchain to store encrypted proof for all the work that has been done on a private network thereby connecting a small number of known stakeholders.

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Difference between Client-server architecture and Blockchain?

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The blockchain architecture consists of the elements like a node - user or computer that has a complete copy of the blockchain ledger, block - a data structure used for keeping a set of transactions, and transaction - the smallest building block of a blockchain system (records, information, etc.).

Blockchain Impossible to hack - the blockchain is decentralized residing on all users storage

Audited by nodes- All nodes created in the blockchain will be validating transactions in a many-to-many information flow, making the validations 100% proof.

Rewards keep the users ‘motivated' to continue validations

Use as you need - the calculation power and storage reside within your product users.

The client-server architecture is the architecture of a computer network in which many clients (remote processors) request and receive service from a centralized server (host computer). Client computers provide an interface to allow a computer user to request services of the server and to display the results the server returns.

Client-Server Easier to hack & hold ransomed - residing in one central location usually by the company or 3rd party

Difficult to audit - Security and audits of data are gatekeeping narrow entry point validations are validated against one entry point.

Expensive resource constraints - using your own resources can be expensive and result in limited ‘horsepower'.

how does blockchain and AI relate?

Blockchain's digital ledger provides insight into the underlying structure of AI and the source of the data it uses, addressing the challenge of explainable AI. This helps improve trust in data integrity and, by extension, AI recommendations. Using blockchain to store and distribute AI models provides an audit trail, and linking blockchain and AI can improve data security.

By providing access to large amounts of data inside and outside the organization, blockchain AI helps scale to deliver more actionable insights, manage data usage and pattern sharing, and create a reliable and transparent data economy.

Artificial intelligence, automation, and blockchain can add new value to multi-part business processes by removing friction, aggregating, accelerating, and increasing efficiency. For example, artificial intelligence models embedded in smart contracts running on a blockchain can recommend expired products for pickup, execute transactions such as orders, payments, or stock purchases based on defined thresholds and events, resolve disputes, and select shipping more sustainably. method.

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What is DI-DARQ ?

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Distributed ledger technology (DLT), artificial intelligence (AI), extended reality (XR), and quantum computing technologies retain the capacity to help organizations drive improved outcomes. DARQ represents a means of grouping a certain subset of technologies together and offers a new understanding of what the post-digital world may look like.

Experts contend that extended reality technologies could make virtual learning more fun and dynamic for students and their families. For example, through the use of immersive extended reality technologies, high school biology students could take a tour of the heart or the liver, which would serve as a much more engaging way of learning about each organ’s components than rote memorization. Immersive extended reality technologies could lead to improved recall capabilities and better test scores.

How Does a Blockchain Work?

The goal of blockchain is to allow digital information to be recorded and distributed, but not edited. In this way, a blockchain is a foundation for immutable ledgers, or records of transactions that cannot be altered, deleted, or destroyed. This is why blockchains are also known as distributed ledger technology (DLT).

First proposed as a research project in 1991, the blockchain concept predated its first widespread application in use: Bitcoin, in 2009. In the years since, the use of blockchains has exploded via the creation of various cryptocurrenciesdecentralized finance (DeFi) applications, non-fungible tokens (NFTs), and smart contracts

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