Big Data and Cloud Computing

Through the design of the technology, we know that the blockchain is immune to attack from any individual member of the network. However, what happens if the blockchain comes under attack from a  large group  of participants? More precisely, what happens if a group successfully takes control of over 50% of the computing power of the blockchain? Such a scenario is known as a  51% attack , and it is one of the few real vulnerabilities of a blockchain. To understand the problems posed by a 51% attack, we must return to the fundamentals of the blockchain and recall the process of adding a new block to the chain. Members of a network compete to be the first to compute a valid seal for the block and claim a reward. Inevitably, a group of individuals in control of over half the computing power of the network can monopolize this process and claim all the rewards for themselves. Such a situation allows this group to be the only entity to benefit from the rewards of the block...

The blockchain technology has successfully disrupted many industries, and the banking sector is one of the main beneficiaries, dare we say. The fintech sector is truly up and running, and companies everywhere are building blockchain solutions. With use cases such as international payments, KYC, and optimized cash management, the blockchain is truly the next big thing when it comes to the finance. According to surveys, 90% of executives surveyed said that their firm was looking into using blockchain for their operations. Due to the decentralized nature of the blockchain, it is easier to form a global banking network where international transactions and other operations could be carried out easily. Santander, a Spain-based bank, reports savings of USD 20 billion a year if blockchain is incorporated. Different consortiums and organizations have started taking collective steps toward blockchain adoption. Talking about the current scenario, there exist many potential use cases for b...

The distributed-nature technology of Blockchain has disrupted many industries, with its uses and applications leading to new innovations everywhere. Bitcoin and other cryptocurrencies are just the initial use cases of the blockchain. The truth is that blockchain technology can be applied to far more sectors than was initially imagined. More security, decentralized nature, easy verification, and protected identities are just some of the many features that make the blockchain truly transformational. One area where this technology can be efficiently exploited is the supply chain sector. Blockchain essentially is a distributed ledger that is updated in real time with each network participant making a transaction. This specific feature can be put to good use when it comes to the supply chain management. Logistics demand transparency and traceability. It is clear that customers want their meat or grains to be exactly as has been promised on the packaging. Incorporating blockchain int...