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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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Forbes releases top 50 blockchain companies list

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Forbes has released top 50 blockchain companies using blockchain technology list and these are almost all household names of the world's largest companies.

Forbes has released a new top 50 blockchain companies using blockchain technology list and these are almost all household names of the world’s largest companies. In fact, they are all billion dollar plus companies such as Amazon, Citi Group, Foxconn, Comcast and a whole host of others and unsurprisingly the bulk majority of these companies are using Ethereum.

 

Although, outside of Ethereum which is, of course, the number 1 blockchain for these companies, we do see others like Hyperledger and Quorum for example, although much rarer on the list in terms of mentions are blockchains such as Stellar Lumens or Cardano. Blockchains such as TRON, EOS, NEM, and others are not mentioned in the list of top 50 companies.

 

Companies choosing Ethereum according to Forbes:

Big businesses really like what Ethereum is doing. Ethereum has also worked very hard to make these relationships happen over the last few years and those relationships are now paying dividends big time.

 

All the top 10 companies are located in China or the United States.

The Top 10 (Forbes List):

10. Ping An Insurance Company: China

9. Bank of China: China

8. Apple: United States

7. Wells Fargo & Company: United States

6. Bank of America: United States

5. Agricultural Bank of China: China

4. Berkshire Hathaway Inc: United States

3. JPMorgan Chase & Co: United States

2. China Construction Bank Corporation: China

1. Industrial and Commercial Bank of China: China

 

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Analysis: Decentralization is the future

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decentralization is the basis of bitcoin blockchain. A development that has threatened to dig up decentralization is the creation of integrated circuits.

In 2008, when Satoshi Nakamoto wrote down the famous white paper in which he proposed a decentralized financial system, he did so in the context of crumbling banks and governments, which as a centralized institution, caused an economic collapse due to poor decision – making and management. Decentralization is the basis on which the entire Bitcoin blockchain is based, and that is why Bitcoin was created primarily to provide an alternative to the central authorities that operate our current global monetary system.

Today, the concept is challenged by the uncontrolled growth of Bitcoin mining – giants such as Bitmain, a Chinese mining company that continues to generate absurd profits and continues to monopolize the Bitcoin network in pursuit of industry dominance.

 

Ethereum Blockchain

The cryptocurrency economy has come to a conclusion – at least for the foreseeable future – Ether will continue to feed the ICOs and lay the foundations for distributed applications. Called Ethereum’s Proposals for Improvement ( EIPs ), they allow for massive participation in decisions that could radically change the future of the network. However, the use of EIPs Ethereum tries to embody the principle of the blockchain technology, namely centralization leads to errors and inefficiencies, while the network, with the right technology, can make better decisions and work more effectively. So, when companies such as Amazon and Chile’s Energy Authority support Ethereum, they do so in a project that advocates – and through EIPs – real practice decentralization.

 

The need of Decentralization:

Where buildings such as capitalism, money, and democracy need new codes, new software, updated smart contracts, better AI and a more united kingdom, full of corporate social responsibility, equal opportunities, and prosperity shared with all. It is not only software decentralization, but it is also the shift of human values to a new way of thinking about exchanges, energy and the shared future of humanity.

The blockchain technology, which offers an alternative to existing trading, governance and finance systems, has the potential to disrupt the industry and create new and exciting opportunities for billions around the world. A development that has threatened to dig up decentralization is the creation of integrated circuits or ASICs for applications. Even more complicated and challenging to decentralize is the rapidly changing world of hardware and the fact that a large technology company now produces most ASICs on the market.

While many Bitcoin advocates see the blockchain as nothing more than competition for existing payment methods or gold, others believe that the blockchain technology is the harbinger of things the world has never seen before.
Bitcoin’s market share has been declining slowly in recent years, and although many believe that bitcoin will continue to grow, there is a rapid rise in other parts of the blockchain ecosystem. When decentralized blockchain protocols begin to break down the central web services that dominate the current internet, we will begin to see real sovereignty on the internet.

 

The future of Decentralization:

Recently, blockchains have become the focus of attention as the first technology to use decentralized device networks. With the promise of full ownership and monetization of their data, blockchains are seemingly convincing alternatives to older third-party data farms. While blockchains use the increasing movement of increasingly powerful personal devices, they have a relatively limited use case and do not fully exploit the potential of paradigm shifts.

This is decentralization, which is a decisive factor in cryptocurrency and blockchain technology in general.
In addition to the major cases of well – known use, there are examples of massive companies that eliminate a “one – point failure” in their closed systems, for governments that approve university degrees. Secondly, governments have historically been serving exchanges with asset seizures, which have paralyzed merchants who hold large amounts of cryptocurrency in the market. If decentralized exchanges become a real reality, the regulatory war will become even more complex for legislators: their current strategy is to target exchanges that operate under their jurisdiction.

Blockchain technology can provide a new way of confirming identity, ways of moving data faster and cheaper, easier transactions such as payments, claims, and data sharing.

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Use Case: Blockchain in Automobile Industry

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Blockchain technology has gained momentum in the automobile industry. Let's discuss some of the developments in the blockchain for autonomous vehicles.

The growing focus on data manipulation, better quality control and the need for faster business transactions have fuelled the growth of the automobile industry. The development of new products and partnerships by leading companies are likely to stimulate the growth of the blockchain in the untapped markets for the long term.

Blockchain in Automobile Industry

Blockchain technology has gained momentum in the automobile industry, and in the following sections, we will discuss some of the latest developments in the blockchain for autonomous vehicles. Blockchain technology is a fundamental technology that has opened a world of innovative opportunities for the automotive industry.

OEMs could use blockchain technology as a platform to improve their global vehicle cybersecurity, validate material bills, secure micropayments, improve identity management and improve data validation. Blockchain technology offers vital stakeholders in the buying and selling process an efficient payment system. With tailor-made solutions for the automotive industry through blockchain technology, the future looks bright. Blockchain technology can take advantage of the intelligent contract architecture that would improve the payment process.

Porsche is credited with being the first company in the industry to test the implementation of the blockchain in their systems. Porsche has tested how the blockchain technology can be used to lock and unlock a car. In addition, every time someone locks or unlocks a car, the data is recorded in the blockchain and no one can modify or modify it, making it easy to track who has used a vehicle at any given time.

There are endless possibilities, some of which have already been conceptualized – incentives to drive more environmentally friendly, car insurance and car financing, blockchain – based titles, remote – lock chains and unlock vehicles – the list goes on and on. With the blockchain proving to be the future of security, and with cars becoming essentially IoT devices, merging them together seems only natural.

Blockchain developers have experimented with off-network data storage solutions to optimize the number of data transmitted by block chains to improve scalability. By leveraging blockchain technology, drivers can contact remote users of the blockchain ecosystem for updates, nearby suppliers for remote availability, price negotiations. By leveraging Blockchain, users can instantly secure payments for media content and other services they want to have due to their reliability and transparency in transactions. IOT and Blockchain solutions can offer endless possibilities, ranging from safer and environmentally friendly driving behavior, improved and more affordable automobile insurance, to remotely lock and unlock vehicles and much more.

Although blockchain remains the backbone of Bitcoin, distributed ledger technology has proven to be useful as a standalone and secure solution for data structures. The use of blockchain technology to solve the challenges of data security connected to automobile is not only an option but also a necessity. For example, one block chain may contain bills for vehicle components, another blockchain may contain quality control records created during the production process, and another may contain information about the WIP for each vehicle assembly from beginning to end.

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