The first Blockchain was made public in 2009 with Bitcoin. Since then, this technology has been widely exploited to launch other digital currencies, but it also offers possibilities for use in many different industries (healthcare, retail, etc.). But how does Blockchain technology work? The essentials to know about cryptocurrency and Blockchain cryptocurrency and Blockchain technology are intrinsically linked concepts.

The Principle Of Cryptocurrency

Use virtual currency! The idea might have seemed hilarious, if not unreasonable, too many of us before January 12, 2009. But on that date, an individual calling himself Satoshi Nakamoto created Bitcoin: the first dematerialized currency. The inventor’s goal is to market money that is entirely independent of states and central banks.

Cryptocurrency is presented as an alternative to traditional currencies. It only works via the Internet and allows you to exchange money online. One of the characteristics of virtual currency is that it is decentralized. Therefore, there are no institutions that control it, unlike conventional currencies. Cryptocurrency is used through tokens (virtual tokens).

Blockchain Technology

The functioning of cryptocurrency depends on Blockchain technology. Remember that the latter was also created in 2008, a year before the appearance of Bitcoin, by the same unknown genius. If you use virtual currencies or plan to do so, take an interest in Blockchain related news. Indeed, the more information you have about this technology, the better you can follow cryptocurrency trends.

A Blockchain is a chain of blocks. It is a technology rooted in peer-to-peer (peer-to-peer), that is to say, a public network in which each entity is as much a client as a server. The web is not centralized. Anyone can use it freely. Furthermore, Blockchain and cryptocurrency are interdependent. It is the Blockchain that validates transactions made in virtual currencies.

However, it cannot function without the use of tokens. To validate transactions, members of the peer-to-peer network compete. These are the miners. Each time a transaction is completed, the miner who made it possible is rewarded with transaction fees. Note that miners can also be rewarded when they discover a new crypto unit by solving complex equations using algorithms.

Blockchain Technology And Cryptocurrencies How It Works

Blockchain technology is deployed through applications. The mode of implementation varies from one application to another.

Wallet

The blocks of the Blockchain each contain several transactions. They are part of the Blockchain through the nodes of the network.

• An index
• A hash to identify it
• The hash of the previous block
• A timestamp
• A series of transactions

To connect to a Blockchain and add a new block to it, you have to use a wallet, the software, or the client application that allows you to constitute a Blockchain node. With your wallet, you can synchronize the Blockchain on your connected device.

The technology is decentralized, the Blockchain storage is done everywhere, and each node of the network has a copy. The user has a private key and a public key for his operations. This is called asymmetric cryptography. As for the private key, it is confidential and guarantees the security of the exchanges.

Transaction

When you use a wallet to send tokens to a person, the transaction is sent to the Blockchain. Then, it goes on, waiting for validation. The minors then activate themselves to check the history of the exchanges. Then, using algorithmic techniques, they make sure that the user does have the money they intend to transfer. Finally, the consensus is around the miner who provided the most computing power to determine the new block’s hash.

The hash is the signature of a new block obtained by hashing (a mathematical function allowing converting a series of characters of any length into a string of fixed length characters). When there is a new consensus, the new block is then integrated into the Blockchain. The minor then obtains his remuneration. In addition, his wallet is credited with recently manipulated crypto tokens.

Also Read: How To Improve The Computer System Business

The post Blockchain Technology Behind Cryptocurrency appeared first on Trends Tech Blog.

What Is EOS And why It’s A Worthy Investment?

EOS is built on Etherium and its main purpose to overcome some of the problems of the blockchain, related to its flexibility and technological development. The goal of EOS.io is rather straightforward — to make it easy for builders or programmers to work with D Apps utilizing blockchain technology. You can think of the EOS.io as Windows operational system, whilst the EOS money represents a stake in the network and makes it viable for users to work with their programs.

Developers on EOS equip the platform with various educational resources and simple UI to make it favorable for many users. EOS also works on the extension of blockchain technologies to different corporate infrastructure.
To summarize all the above, EOS is one of the revolutionary crypto projects due to several reasons:

• Improves the scalability of the blockchain plus makes it speedier
• Works both in public and private networks and is customizable for business needs
• Provides user-friendly experience

A lot of investors look for such a solution and the role of EOS is to meet their requirements.

How To Trade EOS For Other Cryptos And When To Do It?

You have to understand that buying EOS is not as easy as for any other cryptocurrencies because you can’t purchase it directly with fiat money. The first step is to buy Etherium and only at the next step exchange it for EOS. Once you’ve got your EOS you can either store it in your crypto wallet or trade at the crypto exchange. If you’re a trader and want to make a profit on EOS you’re likely to sell it during the spikes and buy when it’s low in price.

As long as Bitcoin will guide the bullish market, it is not likely that EOS price will ever go up. It means that it’s probably not the best moment for selling eos. It’s worth waiting until the period when Bitcoin reaches its peak and the time for eos will come. Until that moment you can keep money in bitcoin. In most cases, the money flows from bitcoin to altcoin when it demonstrates impressive growth and eos is likely to be among bluechip coins that will follow this trend.

Different Investment Scenarios And EOS Price Predictions

From the other side, if you are an experienced trader you can speculate on the btc fluctuations these days and convert eos to btc once the exchange rate is favorable. You can do this at any crypto exchange you prefer. When the market is so volatile as these days it’s really hard to predict eos price. The most likely scenario is that eos will go through several price hikes being followed by a much longer period of price stability with limited trading volumes.

In the long term period, nobody knows whether eos will survive the market competition as many new projects appear, but it’s quite possible that you can gain your profits if you keep an eye on its price in 2021. EOS will likely follow the existing crypto rally, but once it gets to an end the price drop is inevitable. Therefore, do not miss the opportunity and consider the latest expert predictions and technical analysis to make the right trading decisions.

Also Read: Top Five Digital Marketing Trends That Will Fuel Your Branding In 2021

The post How Long Does It Take To Convert EOS To BTC And Is EOS A Good Investment? appeared first on Trends Tech Blog.

One of the traditional problems of the cloud is that the data stored in the providers’ systems are not entirely reliable, either because they are not updated correctly, because they have been modified without the owner’s knowledge or for other reasons. Therefore, ensuring the reliability of information is one of the challenges that cloud service providers face, and the industry continues to investigate new ways of doing it.

One of the avenues of research involves the use of blockchains to provide reliable traceability of the data, which would assure users that they are accessing up-to-date and truthful information, which has not been modified by third parties without their consent. This is the path followed by an international team of researchers from the University of Nebraska (United States) and the University of Sidian (China), which is based on the use of blockchain.

Its approach is based on creating a blockchain-based remote data auditing system, which would allow the reliability of cloud storage to be verified, guaranteeing users that they always have access to up-to-date and 100% reliable data. So far private auditing methods cannot guarantee this reliability, so other public systems have been introduced, which delegate the verification of the information stored in the cloud to third parties.

But nothing can ensure the absolute neutrality of these external entities, which is why this team of researchers has introduced blockchain technology so that all participants in the exchange of information can know at all times the origin of the data and the interactions those that have been subjected.

Using a common collaborative blockchain-based framework, this scheme provides full transparency for everyone who interacts with the data, whether it’s its owners, cloud providers, or any third party that accesses it or uses it in any way, such as they can be external auditors or partners. Their research shows that, at the security level, data integrity is preserved against different attacks, something that has not been achieved until now in cloud environments. And at the performance level, resources are better used than with current approaches.

Also Read: The Opportunities Of E-Commerce In Times Of High Demand

The post Ensuring Data Integrity Through Blockchain Based Audits appeared first on Trends Tech Blog.