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What programming language is used in Blockchain?

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Understanding how Blockchain based applications can be developed by some the major programming languages, Python, Java and, Solidity as C++.

Understanding how Blockchain based applications can be developed by some the major programming languages

 

In this Blockchain based life, it has become the need of the hour to implement the Technology into one’s business and if the business has already incorporated it into the business model then constant upgradation is necessary so as to sustain in the market.

For an instance assume that the user needs to develop a Blockchain based solution in the form of an app. It is always preferred that it must opt for a professional in the field but nevertheless let’s decipher the complexity of the Blockchain step by step. As the future seems to be completely dependent on this technology one must obtain an edge in the field to stay amongst.

 

There are a number of minimum requirements which needs to be fulfilled:

 

  • Security

Security has been one of the most major concerns in the blockchain industry as the number of illicit activities that happen on the Blockchain is uncountable. This is one of the foremost characteristics of a blockchain based system and is one of the prerequisites. Despite the open source nature of the program code, the Blockchain Technology is said to be completely secure.

 

  • Scalability

This is one of the most crucial factors that seems to be lagging behind when it comes to most popular cryptocurrency networks such as Bitcoin and Ethereum. The cryptocurrencies are expected to be the future currencies. So to handle the globalized economy the scalability is the one, each one is looking for.

 

  • Resource Management

A Blockchain technology is nothing but a collection of distributed records which only increases with time and hence we need to design a database system which can grow infinitely without any barriers.

 

  • Performance

As the Blockchain needs to be juggling between the addition of records in the Ledger and Transactional verification, parallel performance can become a source of contention.

 

With all of the above complexities kept in mindset, the programming languages jot down to four major ones. They are regarded as some of the most popular and widely used ones. They are.

 

C++ for Blockchain

The object-oriented programming language provides a vast suite of inbuilt libraries to assist the programmer. The language is one of the most preferred due to its primitive form and higher robustness. The key characteristics of this programming language are that it would assist the implementation of Blockchain with its threading and database management functionalities. Threading is nothing but parallel processing where lightweight processes can be run in parallel. its amazing capabilities of database access leads to an upper hand.

 

Python for Blockchain

Sometimes regarded as a host language due to its nature of work. The full-fledged language is robust enough to meet all the requirements of a Blockchain application. The programming language is also well known for its shorthand notations, simplified structuring, and one of the easiest programming languages one can learn. Hence this might prove to be a boon for the newcomers in the blockchain industry. Languages like C++ can’t provide an effective interface and would required JavaScript along with it, but with Python, everything can be done using one programming language itself.

 

JavaScript for Blockchain

The programming language usually used for web development in order to create interactive web pages can also be used but along with C++ for the development of a blockchain based application. C++ gives the overall structure to the concept and JavaScript is used to furnish those structures. JavaScript can effectively be utilized in order to implement the cryptographic hash functions to link each Block with its previous one. In a blockchain technology, every particular block is chained with all the previous blocks through Cryptography where tampering any block invalidates all the blocks following it. Rendering it to be a highly secured form of Technology.

 

Solidity for Blockchain

The programming language was widely adopted during the current cryptocurrency era. The programming language was specifically designed for the creation and development of the decentralized application. The language provides a complete solution to all the blockchain-based issues.

 

As the Blockchain implementation is not an easy task, one must consider choosing the programming languages which are best in their own domains and integrating them to provide the best outcome for the Blockchain application. It is so unusual that some of the newbies in the field consider Blockchain Technology itself to be a brand new programming language which can be used to develop blockchain-based applications.

 

Although the prices in the cryptocurrency market cannot be predicted that easily, the adoption of the Blockchain Technology has been observing a rapid increase. The Technology which is also considered to be the next big thing after the internet needs robust applications in order to manage its vast spectrum of opportunities. However, amongst the above-mentioned programming languages, Solidity is the most preferred one as it was solely developed for the implementation of the Blockchain based applications. The newcomers can start off by learning C++ and then followed by Python, Java and, Solidity as C++ provides for an easy and effective understanding of the basic structure and functioning of a programming language. Basically, it can be implemented for the inner functionalities and JavaScript and Python is used for developing an interactive interface.

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#Blockchain

How Blockchains are being implemented in Supply Chain Management

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A blockchain technology investment can be a turning point for supply chain and the reorganization of infrastructure and certification of trust in commerce.

Blockchain refers to a dynamic database which takes records of all events or data on a digital basis. It does this in a way which makes it impossible for interference. Blockchain users might have tried to at some point add to the data, access it or even scrutinize it. It is, however, unlikely to delete or change any data. This implies that the first and original data stays the way it is. Therefore, there is a constant trail of transactions information which is available and accessible to the public.

In contrast to conventional tools, blockchain transactions are not controlled by any organization. Blockchain operates on a record-keeping basis which ensures ease and security for businesses to carry out various sales and deals over the internet. Originally, blockchain was designed to carry out financial transactions.

Now, all forms of businesses are utilizing the blockchain ledger. This blockchain ledger is useful for purposes such as Verification, tracking and recording anything which has value. If the whole blockchain were a record of all transactions carried out in banks, then the bank statement of an individual would be just one block in the chain. Blockchain technology provides the easiest and safest way for companies, organizations, and businesses to complete transactions.

 

How Blockchains Impact Supply Chain Management

A blockchain technology investment can be a turning point for the reorganization of infrastructure and the certification of trust when in commerce. It is said to be the technology which will take us into the next industrial reformation. This coming revolution will see to the change in the mode of transportation, finance, supply chain and a host of others.

The supply-chain management is also known as supply network. This supply network involves a data collection of people and goods that participated in the trading process. It also consists of the record of the transportation or movement of the product from the manufacturer through the various networks and links, to the final consumer who needs it.

Several years back, the supply chain model was simple, and it was an easy walk-through because business operations were consummated locally. Taking a look at the supply chain in today’s world, it can be said that bureaucracies are the order of the day. The creation and distribution of goods are very complex. It is possible for the supply chain of a product to go through several stages, settings, accounts and the likes. It could also involve multiple individuals, and it could expand over a period.

The long-drawn processes involved in the supply chain make it a somewhat complicated process with several parties. It is quite difficult to trace illegal activities when the supply chain is very complicated. So, it is possible for events of this sort to go on for a very long time without the knowledge of anybody. Blockchain technology has the potential to bring great transformation to the supply chain.

 

How Blockchains Can Enhance the Supply Chain

Blockchain technology gives room for tracking all forms of transactions securely and transparently. The best cryptocurrency exchange platforms around the world have demonstrated how efficient the blockchain can be. This could also be replicated in the supply chain. Anytime a product is up for sale; the transaction will be recorded as it goes through the necessary channels. This trail is permanent, and it stands for the product’s stable history

This innovation would help to reduce time lag, additional costs and possible human errors which are likely to occur in a conventional everyday transaction. Some supply chains are already utilizing this technology. Financial experts and analysts have previously predicted that using blockchain technology could facilitate a universal supply chain system.

Regarding recording, the number of assets and their transfer and movement within the supply chain would be documented. It is impossible for the records on blockchain to be erased, and this ensures transparency in the supply chain. Blockchain also provides that there is no disagreement on the chain, as all participating parties have the same sample of the ledger. This transparency also transcends to the lessening of fraud when it comes to goods which are highly valued. Such products include precious stones and drugs.

Companies can utilize blockchain technology to have a grasp on how every used item and the finished goods, passed through the entire process of manufacturing. So companies would be able to communicate better with the consumers by either decreasing the amount or eradicating the effect of sham products.

Also, when it comes to the tracking of essential details such as the purchase and delivery orders, blockchain technology can help. The same will suffice for the receipt and other documents involved commerce. Blockchain can effectively track down every detail. Organizations can make their physical assets digitized hence setting up a record of every transaction. As expected, each recorded transaction is accessible to all, and therefore all assets can be effectively monitored.

 

Integrating Blockchains Into a Supply Chain

For the successful application of blockchain technology in supply chain management, some factors have to be set in motion. First and foremost, the companies and organization involved must have a grasp of possible risks. This is essential because all the weak points would be noted and plan to contain them would be made up.  This is a retorted line of thought when new programs, software or processes are under implementation in an ecosystem,

The most likely set of plans will be able to spot the weak points in the resultant use of blockchain technology. Now, companies and organizations need to commence basically by first applying these solutions to the weak points. Once this is seen to be yielding positive results, then further application can be made to other aspects. Many change agents will implement a walk-through test to be sure that the expected results are seen.

For a company or an organization to achieve success with the use of blockchain in the supply chain, there is a need for the company to first, set up a blockchain for the company internally. At first, everyone might not be used to it, as it is expected of new technology. However with time, everyone will commence its application, and progress would be attained.

Also, the company should ensure that all its contacts such as suppliers and the likes, participate in the blockchain movement. This collaboration is essential if proper transparency and easy-to-track procedures are in view. Again, it would surely be difficult to carry out, but possible to implement. However, as an organization, it is essential for you to partner with organizations who embrace any innovative technology.

Once this is completed, then every partaker in the supply chain can be involved since every data can be made available. Blockchain technology in the supply chain management is already gaining grounds in some companies. Those companies who have not started its utilization are encouraged to take a cue from their fellow field players who are already enjoying the benefits.

In the long run, if blockchain technology will afford us the opportunity of tracking all transactions. As a secured platform, it implies that the possibilities it possesses in the supply chain are limitless.

 

Author Bio:

Denise Quirk is a Health Advisor who is fascinated by Crypto and Blockchain Revolution. She is a believer in transforming complex information into simple, actionable content. She is keenly interested in finding the value of the crypto world. She writes for Coin Review, Bitcoin Warrior, Irish Tech News, etc. You can find her on Linkedin, Twitter, and Facebook.

 

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#Ripple

SWIFT not joining hands with RippleNet

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The Speculation that went through in the previous days that RippleNet and SWIFT were joining hands to integrate Ripple's products was actually fake news.

The Speculation that went through in the previous days that RippleNet and SWIFT were joining hands to integrate Ripple’s products such as XRapid which was the prime reason for Ripple XRP to cross Ethereum in terms of market capitalization was actually fake news and just rumors.

 

SWIFT denies its partnership with RippleNet

According to Finance Magnates, the SWIFT payments network denied that the upcoming upgrades in the system have anything related to RippleNet.

 

“I’m not sure where those rumors are coming from but the upcoming standards release … is entirely unrelated to RippleNet.”

Had the hypothesis been valid, such an association could conceivably have seen SWIFT significantly advantage from the RippleNet, particularly concerning the transactional speed. While RippleNet claims it can course “payments effectively and use instant settlement for transactions within seconds,” SWIFT says that even with the update, just half of the Quick GPI payment is credited in under 30 minutes.

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#Gambling

Does Blockchain Bring More Trust in Online Gambling?

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The online gambling industry is crying out for change as general user trust continues to falter. Blockchain technology offers a comprehensive solution.

There Are Deep Trust Issues in Online Gambling – Does Blockchain Promise a Solution?

Gambling is possibly one of the best-regulated industries out there. There should be little cause for players to worry. There have been isolated incidents, such as Absolute Poker stealing up to $1 million from its players over ten years ago, but such high profile cases are few and far between.

So why is it that trust is so hard to come by? A British Gambling Commission study on gambling behaviours found that two-thirds of respondents do not think that gambling is fair and can be trusted, with 41% thinking that gambling is associated with criminal activity.

This is quite clearly a perception issue that is not helped by the fact that people cannot see the inner workings of a gambling website. In fact, Absolute Poker’s scam was only revealed following a community effort and some major slip ups by the cheating parties.

With real money on the line, users expect trust and security to be of paramount importance for the gaming operators.

 

Absolute Fraud

In 2007, AbsolutePoker hosted a tournament carrying a first prize of $30k. They had held many similar competitions of this kind in the past so there was no real pretext for suspicion or alarm.

But, after losing to what he considered to be unusual gameplay, 21-year-old runner up Marco Johnson decided to contact AbsolutePoker for the precise details of his hand history.

What Marco got instead shocked him: whether in error or from a whistleblower, he received an email detailing every single hand played at the tournament, along with all participants logged into each table. Looking into the data further revealed that the player who won the competition showed consistently irrational play.

This was no smoking gun, but the document also included player email addresses as well as IP addresses. The suspect player, Potripper, could be seen to win big at each table alongside the presence of User #363a player who was invisible to all others at the table. Potripper barely ever folded a hand while #363 was present at the table.

The findings after this were even more shocking; the IP address of #363 pointed directly to Kahnawak Gaming Commission, where AbsolutePoker’s servers were hosted. Some estimates place the cost of insider rigging from the company as high as $1,000,000, and they were ordered to refund $1.6 million to customers.

 

So How Can Blockchain Foster Trust?

A central feature of blockchain technology is that trust is built into the system due to the transparency of the confirmations based on the distributed ledger system.

User #363 in AbsolutePoker’s tournament had insider access to a degree where they could see each player’s cards. Decentralization is a practical solution as it means that all of the game’s functions would have to be verified by users themselves.

It would, in essence, remove the theoretical ability of game operators and admins to use back-end gaming mechanisms to advantage themselves. As highlighted already, this is more unlikely in today’s climate, but removing all doubt would make the world of difference to the broader perception and trust in online gambling.

Clarity is key to more reliable online gambling platforms, and that can be offered on the blockchain.

 

Who Is Developing Online Gaming on Blockchain?

Online gaming has not gone unnoticed in the startup world, with several companies developing proposals for casino-related…

The significant potential in the burgeoning technology for online gambling has not gone unnoticed in the startup world, and several have popped up with recommendations for casino-related platforms on the blockchain.

One of these is Zeroedge, who offer a 0% house edge system that exclusively uses their cryptocurrency, Zerocoin. The concept hinges on users buying the platform’s native crypto tokens and then playing casino games; it’s a nice idea, but it seems to place the burden of risk on players who may see their funds fluctuate in value as they are locked into using Zerocoins for their gambling.

Qlear Protocol is a more general blockchain gaming platform which aims to create trust in an online gaming environment. This extends naturally to casino games, but they also bill themselves as a solution for online eSports tournaments. This seems good—Qlear appears much more focused on allowing developers to very easily integrate these trust functions than on any lofty concepts.

Funfair meanwhile wants to develop a sort of open casino platform whereby licensees can pay to set up their casino on the blockchain-based network. Similarly to Zeroedge, they exclusively use a native token (FUN), but their business model seems more plausible because other revenue streams are coming from various fees on the platform. Crucially, they do not seek to rely on the value of their cryptocurrency solely.

 

Online Gambling Could Be Transformed Forever

The gambling industry is crying out for change as general user trust continues to falter. New games and ways to play online are also coming into the fray which makes it vital that the broader player base can trust in the platform that they choose.

Blockchain technology offers a comprehensive solution and, should this be effectively implemented, for the first time trust in online gambling might be beyond question.

This must be the ideal for online gambling; it should be the most trustworthy process possible, and with blockchain, this may be about to become a reality.

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