The invention of smart contracts was a game changer in the blockchain and DLT space. It enabled the automation of processes and the creation of decentralized applications (dApps) on blockchain and DLT networks. This invention has made blockchain and DLTs expand their impact on different industries and not just be confined to the application of cryptocurrencies.
In recent years, blockchains have significantly impacted various business sectors. However, cryptocurrencies get a bad rap for their carbon footprint. The largest cryptocurrency, Bitcoin, is estimated to consume 150 terawatt-hours of energy annually; this exceeds Argentina’s usage. However, not all cryptocurrencies are power hogs.
In the previous article, we learned about the Hedera hashgraph in detail with examples. In this article, we’ll dig a bit deeper into the working of Hedera Hashgraph consensus mechanism. To brush up on the basics, a hashgraph is a decentralized ledger, similar to a blockchain. It uses “asynchronous Byzantine Fault Tolerance” consensus mechanism to […]
Blockchain has been a reliable technology for over a decade and has been applied in many specialized disciplines. Although the concept of a chain of cryptographically secure blocks was first proposed at the start of the 1990s, blockchain technology only became widely known after the launch of Bitcoin in 2008. In contrast, Hedera Hashgraph was […]
Online financial services are essential for any person who wants to actively use the internet. So, with the transition of the internet from Web2 to Web3, will there be drastic changes in the finance sector? What changes can we expect? What will be the factors influencing these changes? What is the state of Web3 finance right now? Let’s dig in and find out.
Hedera Hashgraph could potentially be used to add new features and functionality to a WordPress site, such as the ability to track and verify the ownership or authenticity of digital assets or to enable decentralized applications (dApps) to run on the site. I hope you found the method I explained above useful.
One of the problems I faced when I started Hedera development was the absence of a Web IDE that helped to deploy the contract and perform functional testing. In Ethereum, we can use Remix. Remix makes Ethereum development very smooth. However, such a tool was not available for Hedera. Why do you need a Web […]
Banking is one of the main industries affected by every wave of digitization. What if the next wave is the use of metaverse technology in banking? Imagine entering a bank branch virtually and interacting with avatars of customer service representatives to help you enter the vault and make a virtual deposit or withdrawal.
Businesses are greatly adopting cloud and mobile technologies. They’re expanding beyond traditional network boundaries and the capabilities of their legacy identity and access management (IAM) solutions. Identity as a Service, or IDaaS, refers to a wide range of cloud-hosted identity and access management services. It is a class of cloud-hosted technological functions dealing with the […]