Topic: Blockchain technology advancements (Read 412 times)

And pure functions can help to prove the correctness of program.
There are some projects that utilize the power of functional languages in order to make smart contracts provable.
They are mostly in early stage of development.

Simplicity from itstream https://blockstream.com/simplicity.pdf
Cardano project Plutus language https://cardanodocs.com/technical/plutus/introduction/  
Tezos Liquidity http://www.liquidity-lang.org/

Blockchain generates electronic money, but electronic money is not all that blockchain can produce. It is considered one of the greatest inventions in decades

Until now, the application of Blockchain technology has been explored in many other industries as a cost-effective way to create and manage databases. dispersed as well as can be programmed to record not only financial transactions but also for almost anything of value.

Blockchain is the bubble, the illusion of technology or it is a revolution of the future world. World opinion is divided into two directions. Electronic money watchers are a bubble that just breaks and people see it as the future of the global financial system. In fact, the revolution that electronic money brings is not at the transaction value or short-term earning opportunities for cryptocurrency players but in the underlying technology behind it: blockchain

Everything new always raises fears – and this is a normal reaction. But more and more companies are using Blockchain technology in their work. Almost every day we hear about it. I think Blockchain will be indispensable in the banking business and where there are many counterfeit documents.

Blockchain has really really advanced drastically, from my own view, at least, it wasn't what it was 10 0r 5 years ago

The block-chain is missing the block-ledger and it is this that will allow it too scale because the data becomes 3 dimensional instead of two
and lets forget trying to make out that it's anything more than it is because it's a linked list with hashcodes pinched from Bit-torrent and it's not
like someone found a replacement for OO or anything to write home about, it's nine years old and just won't scale as implemented by Bitcoin and ETH

In these days we can see only 7% percentage of data is handling using PHP, If Blockchain achieve this percentage in coming 5-10 years so its enough to grow in market. Chances of growth in Blockchain technology is to high because whole IT sector working on this technology and finding ways to convert data into information blocks. 

No.

There's no way to reliably determine how much GH a miner is adding to the network, therefore you can't restrict it.

IP restrictions are easily circumvented. Identifying each miner by a unique ID would require a central authority, which would make the whole system moot.

These are also the reasons why PoW was conceived in the first place -- every other approach before it was either centralized or insecure. (PoS, amongst others, being an alternative approach to solve the same problem)

Would it be theoretical possible to restrict the GH each miner put into the System?

Thank you for sharing such knowledge views, surely it will help to understand the basics in it.

I strongly feel it, but still to continue with Blockchain technology governing authorities must need to inteven in it. Because most of the public sector maintain that security not as compared to blockchain but still they maintain some level and we all know how secure public sectors are!! most of the frauds and data breach made up in public sectors, isn't it ?

I can give you a short answer: Visit bitcoin.org site and click "innovation".
All your queries about the technological advancement of bitcoin's blockchain are already there.

Link: https://bitcoin.org/en/innovation

The focus has definitely shifted to "Blockchain" technologies and some of the biggest internet giants are investing millions into "Blockchain" based development. I think it might be more focussed on the decentralized manner in which the network is built and how everything are linked together, to secure that network.

We are seeing more and more global IT attacks on network security by government sanctioned hackers and a technology like this will help them to protect their data and to protect their wealth. The main focus of these governments are to fund their war and to cripple the oppositions financial networks.  

The decentralized Blockchain will protect that data and it will secure the network. We need more developers with "Blockchain" experience to apply this concept on other systems, not linked to the financial system.

Blockchain technology is creating wonders in every possible domain. It was introduced to the world with its first application “Bitcoin”. We would foresee the following advancements:

•   Adopted by banks in order to give momentum to the usage of cryptocurrencies.
•   To enhance the equity management capabilities, NASDAQ will launch blockchain enabled digital ledger technology.
•   By offering identity authentication in a public ledger, it will reduce cyber risks.
•   Land registry could use smart contracts which will automatically transfer the name in records once the payment is through.
•   Small-scale enterprises can make use of blockchain to have trusted trading platforms in order to bring robustness and transparency in the environment.
•   Blockchain also claims to do the needful in crime department by finding the criminal faster than ever.
•   Governments can use it to streamline the administrative processes, distribute social welfare and binge down the expense and complexity of election process.
•    Healthcare domain has already started implementing blockchain technology. MedRec is the witness.

Blockchain technology is highly regarded for its modernity and convenience. Currently, blockchain technology acts as a ledger for all transactions. Through the use of peer-to-peer networks and hierarchical data systems, Bitcoin blockchain is managed automatically. The invention of the blockchain for Bitcoin made it the first digital coin to solve the problem of double spending. This bitcoin technology has become the inspiration for many other applications. And will be widely used in the coming time. Especially open up the opportunity to find a good job for the technician.

Programming languages are separate from the platforms they run on and vice versa.

Virtual machines running on blockchains are basically simple, decentralized operating systems. Think Windows, Linux or macOS, just way more minimalistic. These virtual machines are not the programming language. They interpret the programming language.

So will we see smart contract platforms supersede traditional, centralized solutions? I doubt it, as there are only limited use cases where the decentralization aspect of blockchains really comes to fruition. Which use cases these are, we are about to find out in the upcoming years.

How will this influence future programming languages? I guess very little, as in general high level programming languages should care very little about the underlying architecture. After all they are a means to abstract these details away. We probably will see more blockchain specific programming languages over the next few years, but they will likely stay in the niche that is the crypto ecosystem. Whether it will bring new concepts to other programming languages that don't work with blockchain smart contracts is a different question, but I expect smart contract programming languages to learn more from already existing languages than the other way round.



I very much hope so as well. What we currently have is in my opinion rather inadequate for immutable, permissionless transactions.

I believe blockchain is a progressive and necessary technology in today's society. Companies, schools, hospitals ... should use blockchain software to facilitate the information management of the agency. The blockchain hierarchy is gaining in popularity and use.

Not sure regarding the implications of blockchain on coding languages, but I think smart contracts are really the niche where statically typed pure functional languages could shine. I'm talking about the languages  mainly from ML family: Haskell, OCaml, F#, Elm, PureScript.

Just imagine, your smart contract can be treated just as a pure function which takes some input and gives some output, no side effects, no typos, etc. Imho, this is the direction where languages smart contracts should lead to.

As nowadays every other company building their system with Blockchain or Ethereum technology, can we consider, the blockchain is future of coding language ? Considering the biggest benefit of decentralization network and all others pros of it.