Compare Listings

Blockchain Technology in Business?

Blockchain Technology in Business?

Blockchain Technology in Business – Application Process of Blockchain Technology? –

The application process of Blockchain Technology is

one that needs to be looked at in closer examination.

This is because of its unfamiliar nature and background, and this study has

different areas of progression that need to be addressed.

To start, we start with the question:

“What’s the purpose of exploring this topic of discussion in the first place?”

This is because of this new type of technology

has revolutionized the industry of currency exchange.

To have a system of digital information,

without the understanding to work it, becomes confusing.


Blockchain Technology in Business – Coding?

Coding Example of Confusion:

It is computationally infeasible to find two or more inputs

that 366 produce the same output. 367 with an output size of 256 bits (SHA-256).

Many computers support this algorithm in hardware, 369


Technology Expansion?

So, to reduce any confusion of the development of

blockchain, the application process will be put under focus.

This will ensure a better understanding of what blockchain technology really does.

For example, understanding the computer science mechanisms, that link

and distributed on a network, such as cryptographic.


What is Cryptographic?

According to Wikipedia, it is the underlying or hidden practice of study and techniques.

These practices were to ensure for a secure communication transmission,

no matter what external or internal forces were present.

For example, in this case, any third parties, which are also known as adversaries.

This piece of knowledge is the reason for the

use of secret or hidden information for transmission.

Primitives (hashing, digital signatures, public/private keys)

mixed with financial concepts (such as 354).


Application of Cryptography?

This process of cryptography is to construct and analyze computer protocols.

These protocols are in place for the prevention of third parties or public readings.

Other areas of security involved the following communication methods, such as:

Information security
• Confidentiality information
• Data Integrity
• Authentication
• Reading of Private messages
• Non-repudiations


Central Technological Themes

These are all centralized themes, in the study of cryptography or cryptology.

The modern approach of cryptography was known as known as the encryption process.

This information conversation came from a readable state to that of nonsense.

So, the originator of the encrypted message had to share the decoding technique

to uncover the original message or information intended for recipients.

In doing so, this process would secure outside

parties from receiving unwanted personal information.

This type of study was successfully integrated

into other disciplines within the field.


Blockchain Technology in Business


Some of these areas included:

• Study of mathematics
• Computer science
• Communication science
• Electrical engineering
• Physics


An important component of the blockchain technology is

the use of cryptographic hash functions 357

So, as you can see, this new type of technology has entered

other areas of academia and information sources.

This helps to pave a broader spectrum for this new technology

since it is not limited to one area of study, research or practice.

Having this cross integration into other areas of study,

help to further its overall advancement.


Administration Applications of Cryptophytic

All these applications of cryptophytic,

include other components that need to be addressed.

This will help provide an overview of the inherent technology

and technology that has already hit the online marketplace of users.

This is because there are certain levels of usage

from each below group depending on the recipient.

For example, if the channel of communication

and operations involved that of the U.S.

Military, then a government channel of secured communication

and distribution of information is needed.


Online Resources and Reference

Some of these include:

• E-commerce
• Chip-based payment cards
• Digital currencies
• Computer passwords
• Military communications


Modern Cryptography

In modern cryptography, it is mainly based on the mathematical

approach and theory for computer science and practice.

This is because cryptography has algorithms that are

based inside for computational hardness assumptions.

This type of algorithm makes the process of

breaking it in any method extremely difficult.

algorithms are designed to be one-way

(known as being preimage resistant): it is computationally 362?


Theory in Reality?

So, in theory, it is possible to break this system.

However, it is impossible to do so by any other practical or known means.

This is because the schemes are secured under the term, computational securement.

This ensures improvements to the algorithm

itself and for faster computer technology and solutions.

This can help solve other problems faster with this

advancement, reducing other areas of workload.

These areas of discussion are grounded in the

theoretical approach and not the practical application approach.


Practical versus Actual Application

This is a big difference since theory and practicality

do not always align in actual numbers.

Also, due to the comparison difference, these computational

schemes are more difficult to implement than the

unbreakable theory for computational secure mechanisms.

The interest and growth of cryptographic technology have been rising in numbers.

However, with this rise in numbers, also increase

the legal issues surrounding this information age of technology.

This is because cryptography has the possibility to be used for ill will such as:

• Espionage
• Sedition


The Ledger of Digital Technology

As you have learned, a digital ledger exists within the technology of blockchain.

This development is the reason for the improvement of security

and privacy, and growth in blockchain technology.

A ledger by definition is a collection of transactions.

When speaking of blockchain technology, this ledger is in the form

of a digital application instead of the traditional pen and paper ledgers.


Purpose of Ledgers – Traditional versus Digital

The transformation of the digital application of the ledger from

the old purposeful use is a stark contrast.

This is because, with the advancement of technology, is also

the need to advance the inherent tools within the programming.

Therefore, the old application or tool for processing account

and balance sheet information was upgraded onto a digital platform.

This alleviated the need for a tangible document,

which creates a high risk for a security breach.

The purpose of this application was to keep track

of the exchanged goods and services met for the:

• Day
• Week
• Month
• Quarter
• Annual


The process of keeping record digitally and in large

databases revolutionized the blockchain platform.

It enabled large databases that were owned and

operated by a solo and centralized trusted third party.

This information can be used by a community of

users, which normally is the owner of a ledger.


Shortcomings of Centralized Ledgers

With every piece of technology entering the online marketplace,

or open source market, there always exists the weak points.

For example, centralized ledgers could possibly be lost or destroyed.

This could occur if the owner did not properly

back up the files or information stored on the database.

This could create for reduced trust in the system,

so this area needs to be curtailed and addressed for future security concerns.


The Masses and Technology

This is vital with this type of technology since trust from all parties involved,

including the watching public, is mandatory for its success.

Another area for error is that the transactions may

not be valid when processed or retrieved from the database of storage.

So, in this case, the owner of the data may want to find an

approach to verify each transaction for optimal success.


Error Reduction in Blockchain Technology

This also reduces any future errors, when recording information and data sharing.

There are other areas where issues can arise from this database storage and transmission.

For example, even if a transaction was properly inputted into the database,

a loose end on the system may cross with the retrieval process.

This means, that an internal system error can cause

a failure for communication and storage delivery.

Information that is altered by a user,

is another reason for technological shortcomings.

This is because it allows for human or user error.

These areas are still being focused on for improvement.


Concluding Thoughts on Technology & Improvement

As with most technological advancements,

there is always room for improvement and the fixing of any bugs.

We all see this in our normal daily functions with technology.

You may have encountered mandatory updates on certain installed applications.

These warnings are to ensure the update is processed so,

that any bugs or internal issues are updated and resolved.


Application Evolution?

Usually, applications will undergo a series of transformations.

This is necessary since many new developments are constantly

being explored and evolving with time and new equipment.

So, with the progression of technology, also displays the necessity of security.

The question of security is always discussed in relation, to trust.

That is because of blockchain technology,

unlike other pieces of technology, must rely on the public’s trust.

This is supported by the entities that

work on the outside of these new inventions.

Related posts

Online Retail Stores & Shipping Costs?

Online Retail Stores & Shipping Costs? -  This is an important factor for many online...

Continue reading
by Rick Carlson

The Progression of Technology?

Progression of Technology - The Future of Technology - Series Technologies in development are...

Continue reading
by Rick Carlson

Bitcoin Developer? – (Learn How)

Bitcoin Developer - How to Become a Bitcoin Developer in 2018! This may not be a popular idea in...

Continue reading
by Rick Carlson