Blockchain is the new and innovative way to ensure that everybody is telling the truth when it comes to everything online.
It can include verifying business operations to Fair trade coffee to accounting, blockchain creates a system whereby no records can be edited or adjusted because everybody in the blockchain is watching and verifying the data.
How Does Blockchain Technology Work?
Blockchain works by storing information across a network of personal computers, thus relinquishing control from one centralised system. This decentralisation of the lead system means that no one singular person can hack, corrupt or take down the network, it also means that fraud is limited due to the watching, verification and sharing of information across a large, intricate system.
The blockchain seals records through cryptography, the code that is embedded in the ‘blocks’ which is data means that the records and inputs cannot be changed. Blockchain technology is set to change the world, so which companies should you be looking out for? Here we look at the 7 best blockchain software you shouldn’t miss in 2019.
Top 7 Blockchain Software In 2019
Chain is a blockchain development company and is the reason why blockchain is becoming prevalent on Wall Street. They are backed by such companies as credit moguls Capital One, so they are already held in esteem in the market. Chain create the cryptography and cryptographic system that is used by the finance industry.
The most famous blockchain network is Bitcoin, everyone has heard of it and it was built to take banks and financial middlemen out of the equation. However, Celsius network have spotted a gap in the market. Their technology allows people to long or short their crypto currency, loan it to others or get rewarded for keeping it in their digital wallet. It operates like a crypto bank.
Baas pride themselves on creating a solution that keeps the blockchain agile and responsive through leveraging a cloud based system. Leveraging a cloud based system allows users who have struggled with the cost and complexities of implementing a blockchain into their organisation to adopt a versatile blockchain technology.
The entire point of blockchain technology is that all transactions and data can be verified and receipted and to ensure record validity. Tierion have created a verification database that works with and on the Bitcoin blockchain. Tierion haven’t stopped there, they have also created software that takes out the intermediary to verify data entries through creating a process that gives all the information needed on receipts.
Climate change and the anthropogenic impact on the environment is a hot topic and so it should be, enter Chroma Way who developed blockchain technology to link up green investors with green investment opportunities to help meet the Paris Accord.
If your organisation has the money and wants to invest in a blockchain system, call Deqode. Based in the USA, they are now one of the market leaders in blockchain solutions. They can build any aspect of blockchain from the ground up to satisfy any businesses needs and wants.
There are two types of cryptocurrency storage, hot and cold. Hot means you can access it quickly, but it may well be susceptible to being hacked or you can store it cold. Cold is far more difficult to hack as it is stored offline but then it is not easy to spend. Enter MyEtherWallet, the service they provided is similar to cold storage, but you, the user has complete control over it and don’t have to rely on hardware to keep it safe. You can print your cryptocurrency through MyEtherWallet in the form of a QR code that you can keep save and if you need to spend it, you can then scan it.
There is no getting away from blockchain technology, innovations and applications. Whilst it is still relatively new, organisations are making leaps and bounds towards new and exciting applications for this new technology. From verifying medical data, to ensuring audit quality, there is no limit to what Blockchain can do. These are the 7 companies and their attributed software that you need to watch in 2019!