Topic: BLOCKAURA THE DISRUPTOR (Read 56 times)
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Features of BlockAura
1) Distributed Ledger Technology (DLT)
DLT (Distributed Ledger Technology) is a protocol that allows a Decentralised digital database to run securely.
The necessity for a central authority to maintain a manipulation check is eliminated with distributed networks. Using encryption, DLT provides for the secure and accurate storing of any information.
Using “keys” and cryptographic signatures, the same can be obtained.
Once the data is saved, it becomes an immutable database that is subject to the network’s rules.
2) Proof of Stake (PoS)
The proof of stake (PoS) consensus protocol was created as an alternative algorithm seeking to address the scalability and environmental sustainability concerns surrounding the proof of work (PoW) protocol.
The PoS algorithm, however, seeks to solve this problem by effectively substituting staking for computational power, whereby an individual’s mining power is limited to the percentage of ownership stake. This means a drastic reduction in energy consumption and the manufacture of single-purpose hardware, like the ASIC machines because they are no longer needed for their computing power.
The proof of stake (PoS) seeks to address this issue by attributing mining power to the proportion of coins held by a miner. This way, instead of utilizing energy to answer PoW puzzles, a PoS miner is limited to mining a percentage of transactions that is reflective of their ownership stake. For instance, a miner who owns 3% of the coins available can theoretically mine only 3% of the blocks.
3) Open source
BlockAura is an open-source project founded by the BlockAura Foundation and an open-source protocol built for everyone.
4)Purpose-built
With the BlockAura Blockchain Initiative, we’re implementing and researching integrating blockchain built specifically for security tokens creating an ecosystem.
5)Compliant
Each BlockAura Smart contracts mean it has programmable enforced jurisdictional regulations built into the security tokens.
BINANCE TECHNOLOGY
Binance is a cryptocurrency exchange that offers a trading platform for a variety of digital currencies. It was established in 2017 and has its headquarters in the Cayman Islands. In terms of daily trading volume, Binance is presently the largest exchange in the world. Changpeng Zhao, a developer who had previously designed high-frequency trading software, launched Binance. Binance was founded in China, but due to the country’s increasing regulation of cryptocurrencies, it relocated its headquarters to the United States. Most blockchains are designed as a decentralized database that functions as a distributed digital ledger. These blockchain ledgers record and store data in blocks, which are organized in a chronological sequence and are linked through cryptographic proofs. The creation of blockchain technology brought up many advantages in a variety of industries, providing increased security in trustless environments. However, its decentralized nature also brings some disadvantages. For instance, when compared to traditional centralized databases, blockchains present limited efficiency and require increased storage capacity.
Advantages of BlockAura
Since blockchain data is often stored in thousands of devices on a distributed network of nodes, the system and the data are highly resistant to technical failures and malicious attacks. Each network node can replicate and store a copy of the database and, because of this, there is no single point of failure a single node going offline does not affect the availability or security of the network. In contrast, many conventional databases rely on a single or few servers and are more vulnerable to technical failure and cyber-attack.
Stability- Confirmed blocks are very unlikely to be reversed, meaning that once data has been registered into the blockchain, it is extremely difficult to remove or change it. This makes blockchain a great technology for storing financial records or any other data where an audit trail is required because every change is tracked and permanently recorded on a distributed and public ledger. For example, a business could use blockchain technology to prevent fraudulent behavior from its employees. In this scenario, the blockchain could provide a secure and stable record of all financial transactions that take place within the company. This would make it much harder for an employee to hide suspicious transactions.
Trustless system- In most traditional payment systems, transactions are not only dependent on the two parties involved, but also on an intermediary – such as a bank, credit card company, or payment provider. When using blockchain technology, this is no longer necessary because the distributed network of nodes verify the transactions through a process known as mining. For this reason, Blockchain is often referred to as a ‘trustless’ system. Therefore, a blockchain system negates the risk of trusting a single organization and also reduces the overall costs and transaction fees by cutting out intermediaries and third parties.
1) Distributed Ledger Technology (DLT)
DLT (Distributed Ledger Technology) is a protocol that allows a Decentralised digital database to run securely.
The necessity for a central authority to maintain a manipulation check is eliminated with distributed networks. Using encryption, DLT provides for the secure and accurate storing of any information.
Using “keys” and cryptographic signatures, the same can be obtained.
Once the data is saved, it becomes an immutable database that is subject to the network’s rules.
2) Proof of Stake (PoS)
The proof of stake (PoS) consensus protocol was created as an alternative algorithm seeking to address the scalability and environmental sustainability concerns surrounding the proof of work (PoW) protocol.
The PoS algorithm, however, seeks to solve this problem by effectively substituting staking for computational power, whereby an individual’s mining power is limited to the percentage of ownership stake. This means a drastic reduction in energy consumption and the manufacture of single-purpose hardware, like the ASIC machines because they are no longer needed for their computing power.
The proof of stake (PoS) seeks to address this issue by attributing mining power to the proportion of coins held by a miner. This way, instead of utilizing energy to answer PoW puzzles, a PoS miner is limited to mining a percentage of transactions that is reflective of their ownership stake. For instance, a miner who owns 3% of the coins available can theoretically mine only 3% of the blocks.
3) Open source
BlockAura is an open-source project founded by the BlockAura Foundation and an open-source protocol built for everyone.
4)Purpose-built
With the BlockAura Blockchain Initiative, we’re implementing and researching integrating blockchain built specifically for security tokens creating an ecosystem.
5)Compliant
Each BlockAura Smart contracts mean it has programmable enforced jurisdictional regulations built into the security tokens.
BINANCE TECHNOLOGY
Binance is a cryptocurrency exchange that offers a trading platform for a variety of digital currencies. It was established in 2017 and has its headquarters in the Cayman Islands. In terms of daily trading volume, Binance is presently the largest exchange in the world. Changpeng Zhao, a developer who had previously designed high-frequency trading software, launched Binance. Binance was founded in China, but due to the country’s increasing regulation of cryptocurrencies, it relocated its headquarters to the United States. Most blockchains are designed as a decentralized database that functions as a distributed digital ledger. These blockchain ledgers record and store data in blocks, which are organized in a chronological sequence and are linked through cryptographic proofs. The creation of blockchain technology brought up many advantages in a variety of industries, providing increased security in trustless environments. However, its decentralized nature also brings some disadvantages. For instance, when compared to traditional centralized databases, blockchains present limited efficiency and require increased storage capacity.
Advantages of BlockAura
Since blockchain data is often stored in thousands of devices on a distributed network of nodes, the system and the data are highly resistant to technical failures and malicious attacks. Each network node can replicate and store a copy of the database and, because of this, there is no single point of failure a single node going offline does not affect the availability or security of the network. In contrast, many conventional databases rely on a single or few servers and are more vulnerable to technical failure and cyber-attack.
Stability- Confirmed blocks are very unlikely to be reversed, meaning that once data has been registered into the blockchain, it is extremely difficult to remove or change it. This makes blockchain a great technology for storing financial records or any other data where an audit trail is required because every change is tracked and permanently recorded on a distributed and public ledger. For example, a business could use blockchain technology to prevent fraudulent behavior from its employees. In this scenario, the blockchain could provide a secure and stable record of all financial transactions that take place within the company. This would make it much harder for an employee to hide suspicious transactions.
Trustless system- In most traditional payment systems, transactions are not only dependent on the two parties involved, but also on an intermediary – such as a bank, credit card company, or payment provider. When using blockchain technology, this is no longer necessary because the distributed network of nodes verify the transactions through a process known as mining. For this reason, Blockchain is often referred to as a ‘trustless’ system. Therefore, a blockchain system negates the risk of trusting a single organization and also reduces the overall costs and transaction fees by cutting out intermediaries and third parties.
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