Connect with us

Blockchain

Blockchain Technology – A Major Player of the Tech Space

Published

on

The business sphere is overcrowded with enterprises that are all set to implement their blockchain strategies. After all, not directing toward Blockchain would be an unwise act which can put many businesses into grave danger. Hence, they have geared themselves up to adopt various applications of Blockchain Technology after going through a profound phase of estimation and analysis to assess its pros and cons.

There is a definite upside to embracing this spectacular invention, however, there is a line of risks involved in taking this step. As they say, there is no gain without a little loss. It is needless to say that introducing a new stack of technology is an already functional environment can lead to hacks, security contraventions along with data loss.

Hence, there is a bunch of questions spinning around the business. Do blockchain protocols own a secure level of maturity? Are they fine enough to be deployed in big-scale ventures? Are business leaders equally comfortable in using this new technology as they are with the older ones?

After giving it an in-depth thought, the top-notch BaasS providers have shown an inclination toward this unconventional technology. They are the biggest fans of Blockchain Technology which can act as a great service model for them. They already possess a significant customer base and seems rational for these cloud providers to bring Blockchain into their vicinity. Take a look at how this initiative is taking a profitable shape.

Microsoft Azure

It is a commonly known fact that Microsoft is a leading BaaS provider in the market. Until now, it was dealing in Ethereum along with offering services for network fabrics in Hyperledger and R3’s Corda. Now, it has begun to invest in Blockchain technologies by contriving Azure Blockchain Service and the Azure Blockchain Workbench.

  1.   IBM Cloud

IBM plays a core role in maintaining source code for Hyperledger fabric and hence, is a major cloud service provider. Now, IBM has endeavored to become multi-cloud by opening IBM Blockchain 2.0 that can help you run fabric network over several cloud providers.

  1.   Amazon Web Services 

The managed blockchain zone is controlled by Microsoft Azure and AWS is equal capacities. When it comes to choosing which one is better, it completely depends on your acuity. In case, you belong to the finance sector, Azure will go better with your needs while AWS is suitable for industries like insurance, healthcare, and related verticals.

  1.   Oracle Blockchain

The Blockchain platform produced by Oracle has based its solutions solely on Hyperledger Fabric. It might not be ideal, however, it offers well-ordered service, such as blockchain explorer, node provisioning along with enhanced security.

  1.   VMWare

VMW made a profound study to analyze the problems with the present blockchain infrastructure. It is associating with Concord to solve these problems which is a trusted, scalable and efficacious infrastructure for smart contracts implementation and consensus.

These are the biggies of the BaaA market. There is also another line of service companies utilizing the blockchain to offer products which are based on the current cloud computing platforms. They can be perceived as smaller ventures. Organizations in this league are mostly startups that introduce new offerings every month. They encompass a wide array if Blockchain protocols and provide solutions that are vivid and vibrant.

In a nutshell, though the blockchain technology stack exhibits potential, there is still some time for it to take its mature form and become ready for mainstream enterprise acceptance.

Read More: IBM Adds More Automation To Cloud Migration Factory, Partners With ServiceNow

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Blockchain

Ripple Labs notches landmark win in SEC case over XRP cryptocurrency

Published

on

13 July (Reuters) A U.S. judge ruled on Thursday that Ripple Labs Inc. did not break federal securities law by selling its XRP coin on open exchanges. This was a significant legal victory for the cryptocurrency sector and caused XRP’s value to skyrocket.

Refinitiv Eikon figures show that by late Thursday afternoon, XRP had increased by 75%.

Although the SEC also received a partial success as a result of the decision by U.S. District Judge Analisa Torres, it was the first victory for a cryptocurrency corporation in a case brought by the U.S. Securities and Exchange Commission.

Continue scrolling to see an advertisement

Report this advertisement
Although the ruling is particular to the specifics of the case, it will probably give other crypto companies fighting the SEC evidence as to whether their products are covered by the regulator’s authority.

An SEC representative stated that the agency was satisfied with the judge’s conclusion that Ripple had broken the law by selling XRP directly to knowledgeable investors.

Once a final judgment is rendered, or earlier if the court permits it, the decision may be appealed.

Continue scrolling to see an advertisement
A spokeswoman for the SEC stated that the regulator was considering the choice.

The decision, according to Ripple Chief Executive Brad Garlinghouse, is “a huge win for Ripple but more importantly for the industry overall in the U.S.”

The biggest U.S. cryptocurrency exchange, Coinbase (COIN.O), said that it would once more permit XRP trading on its platform.

“We have reviewed Judge Torres’ well considered ruling. We’ve gone over our analysis in great detail. Paul Grewal, the chief legal officer at Coinbase, tweeted that it was time to relist.

Continue scrolling to see an advertisement
On Thursday, the price of Coinbase stock rose 24% to $107 per share.

CRYPTO WHEN IT IS NOT A SECURITY
The company and its current and past chief executives were charged by the SEC with executing an unregistered $1.3 billion securities offering by selling XRP, which Ripple’s creators invented in 2012.

The cryptocurrency sector, which contests the SEC’s claim that the great majority of crypto tokens are securities and are therefore subject to its severe investor protection regulations, has been closely following the issue. The regulator has filed more than 100 enforcement actions against cryptocurrency companies, alleging that different tokens constitute securities, but many of those cases have been settled.

In the few cases that have gone to trial, judges have agreed with the SEC that the disputed crypto assets were securities. Securities, as opposed to assets like commodities, are subject to strict regulation, must be registered by their issuer with the SEC, and demand extensive disclosures to alert investors to potential risks.

Torres determined that since buyers did not have a reasonable expectation of profit linked to Ripple’s efforts, the company’s XRP sales on open cryptocurrency exchanges did not, in the eyes of the law, constitute offers of securities.

She referred to those transactions as “blind bid/ask transactions,” in which the purchasers “could not have known if their payments of money went to Ripple, or any other seller of XRP.”

Torres utilized a ruling from the U.S. Supreme Court that stated “an investment of money in a common enterprise with profits to come solely from the efforts of others,” is a type of security called an investment contract.

According to Torres, Garlinghouse and co-founder and former CEO Chris Larsen’s sales of XRP on cryptocurrency exchanges and other disbursements, such as employee compensation, did not constitute securities.

SEC PARTIALLY WINNING
The $728.9 million in XRP sales by the business to hedge funds and other affluent clients that Torres determined to be unregistered transactions of securities gave the SEC a partial success.

According to Torres, Ripple’s institutional investor-focused marketing made it obvious the company “was pitching a speculative value proposition for XRP” that depended on company efforts to build the blockchain infrastructure supporting the digital asset.

She argued that a jury must determine if Garlinghouse and Larsen helped the corporation break the law and that the defendants cannot claim they had no “fair notice” that XRP was a cryptocurrency at the time of the alleged offense.

“The law does not require the SEC to warn all potential violators on an individual or industry level,” the spokesperson stated.

PUSHES FOR LEGAL ACTION
According to Gary DeWaal of Katten Muchin Rosenman, the decision should aid Coinbase in defending its own SEC case.

According to the market response, the decision represents a “tremendous event for the industry,” he claimed.

Both the Ripple and Coinbase cases center on the need for registration as well as whether certain digital assets qualify as securities under American law.

Since the verdict, the crypto sector has pushed for legislation to define the legal status of digital assets and put forth clear regulations for tokens.

Republican House Majority Whip Tom Emmer stated on Twitter that the decision proved “a token is separate and distinct from an investment contract it may or may not be part of.”

Let’s pass it into law now, he said.

Reporting was done by Tom Hals in Wilmington, Delaware, and Jody Godoy and Chris Prentice in New York; editing was done by Chizu Nomiyama, Conor Humphries, Leslie Adler, and David Gregorio.
The Thomson Reuters Trust Principles serve as our benchmarks.

Continue Reading

Blockchain

XRP, Coinbase Surge As Investors Take Favorable View Of Ripple Ruling

Published

on

Judge Analisa Torres’ decision that some cryptocurrency transactions do not count as securities sales gave Ripple Labs Inc. what appears to be a partial victory in the Securities and Exchange Commission’s lawsuit against it, which substantially increased the price of cryptocurrencies. The SEC’s assertion that the majority of digital assets are securities that must be registered—which is impossible to do under the current regulations—can be successfully contested, even though the district court’s ruling is not legally binding elsewhere.

This has repercussions for other actions the agency takes against cryptocurrency exchanges and other middlemen. In December 2020, the SEC filed a lawsuit against Ripple, stating that the company’s $1.3 billion in sales of the digital asset XRPXRP 0.0%XRP 0.0% since 2013 amounted to an unregistered securities offering.

The court ruled in a summary decision that the $757.6 million worth of XRP that Ripple offered to retail customers via programmatic sales was valid. Moreover, the court determined that using XRP to pay for employee salary and other services did not satisfy the requirements of an investment contract. “Whereas Institutional Buyers could have reasonably expected that Ripple would use the capital it received from its sales to improve the XRP ecosystem and thereby increase the price of XRP, programmatic Buyers could not have reasonably expected the same.”

The original founding team gave Ripple 80 billion XRP units (of a 100 billion maximum) as compensation for their assistance in building the company’s blockchain, the XRP ledger. Contrary to the more common practice of initial coin offerings, where a currency’s developers sell it to investors, founding teams or decentralized organizations might nonetheless own large holdings.

The judge found that the $728.9 million in XRP that the company sold to institutional investors was an illegal offering, ruling that “Based on the totality of the circumstances, the Court finds that reasonable investors, situated in the position of the Institutional Buyers, would have purchased XRP with the expectation that they would derive profits from Ripple’s efforts.” This prevented the ruling from being a complete victory for cryptocurrencies.

After the decision was made public, the value of all cryptocurrencies increased by almost 6% to $1.3 trillion, while XRP rose by 76% to 82 cents, ranking it as the fourth-largest digital asset, according to CoinGecko. Investors saw the decision favorably for the company’s own battle with the SEC, which has accused it of operating as an unregistered securities market, and the stock price of the Coinbase exchange increased by about 20%. It’s interesting to note that when the Ripple lawsuit was revealed in 2020, the exchange really stopped dealing XRP.

The decision made today does not, however, automatically give exchanges the green light. When considering the ability of this decision to set a precedent for other instances, Stephen Palley, a partner at Brown Rudnick and co-chair of the digital commerce practice, told Forbes that there is some significant nuance that needs to be taken into account. “The court says in a footnote that it is not ruling on whether or not secondary transactions are securities transactions,” remarked Palley. “It stated that a user of these platforms, or crypto exchanges, would not be able to determine that Ripple is on the other side. As a result, the court came to the conclusion that there could not have been a profit expectation based on Ripple’s efforts.

Palley wonders if this reasoning will make it more difficult for other courts to claim that secondary sales are investment contracts in the future. “I don’t understand how you can say that transactions between two non-Ripple parties would be securities transactions but transactions where Ripple was on one side wouldn’t,”

Continue Reading

Blockchain

The Future of Dapp Development: Emerging Trends and Technologies

Published

on

The world of decentralised applications, or dapps, has witnessed significant growth and innovation in recent years. As blockchain technology continues to evolve, developers are exploring new possibilities and pushing the boundaries of what dapps can achieve. In this article, we will delve into the exciting future of dapp development, exploring the emerging trends and technologies that are shaping this rapidly evolving landscape.

QJnx5dUSpczep8hMWidz6M2G0adqKPkZnNLDXa90V176KhdhrmYuTmxcH2SaY0bgdgVv7v8r7RZprbR4B9HVGzyQMZwZ7MrZZfFyr1e CNSgObXdg8w38mPNyaf6XXWvnnFhOk0KJ0X9IBROE1hfnw

Smart Contracts Revolutionizing Dapp Development

Smart contracts, the self-executing agreements built on blockchain technology, are revolutionizing dapp development. These contracts enable trustless transactions and automate the execution of predefined conditions. By eliminating the need for intermediaries, smart contracts offer increased efficiency, transparency, and security. As the backbone of many dapps, smart contracts have paved the way for innovative use cases across various industries.

Scalability Solutions: Overcoming Blockchain Bottlenecks

Scalability has been a major challenge for blockchain technology, limiting its widespread adoption. However, developers are actively working on solutions to overcome these bottlenecks. Layer-2 scaling solutions like state channels and sidechains allow for faster and cheaper transactions by reducing the load on the main blockchain.

Additionally, advancements in sharding and consensus mechanisms such as Proof-of-Stake (PoS) are improving the scalability of blockchain networks, opening up new possibilities for dapp development company.

Interoperability: Bridging Different Blockchains

Interoperability is another key focus area for the future of dapp development. Currently, most dapps operate within their respective blockchain ecosystems, limiting their potential impact. However, projects like Polkadot, Cosmos, and ICON are working on interoperability protocols that allow dapps to communicate and interact across different blockchains. This cross-chain functionality will enable seamless data sharing and collaboration, fostering a more connected and vibrant dapp ecosystem.

User Experience and Adoption: Simplifying Dapp Onboarding

One of the critical factors for the success of dapps is user experience. To drive mainstream adoption, dapps must offer intuitive interfaces, seamless onboarding processes, and improved performance. User-centric design principles and user experience (UX) research are being applied to enhance the usability of dapps, making them more accessible to a broader audience. Additionally, developments like MetaMask and WalletConnect simplify the process of interacting with dapps, further enhancing the user experience.

Privacy and Security: Protecting User Data

Privacy and security are paramount in the dapp development landscape. With personal data becoming increasingly valuable, developers must prioritize protecting user information while ensuring the transparency of blockchain transactions. Advancements in zero-knowledge proofs, homomorphic encryption, and decentralized identity solutions are being leveraged to strike the delicate balance between privacy and transparency. These technologies enable users to maintain control over their data while participating in decentralized applications securely.

The Rise of Non-Fungible Tokens (NFTs)

Non-Fungible Tokens (NFTs) have gained significant traction, revolutionizing digital ownership and the art world. NFTs represent unique digital assets that can be bought, sold, and traded on the blockchain. From digital art and collectibles to virtual real estate and gaming items, NFTs have opened up new avenues for creators and collectors. As the technology evolves, we can expect more innovative use cases for NFTs in the future of dapp development.

Artificial Intelligence and Machine Learning in Dapps

The integration of artificial intelligence (AI) and machine learning (ML) technologies with dapps holds immense potential. AI and ML algorithms can analyze vast amounts of data on the blockchain, providing valuable insights and enabling automated decision-making within dapps. These technologies can enhance fraud detection, improve user recommendations, and optimize various processes, creating smarter and more efficient decentralized applications.

Conclusion

In conclusion, the future of dapp development is brimming with possibilities. Smart contracts are revolutionizing the way transactions are executed, while scalability solutions and interoperability protocols are addressing the limitations of blockchain technology. User experience improvements, privacy-enhancing technologies, the rise of NFTs, and the integration of AI and ML are shaping the dapp landscape. As developers continue to push the boundaries of innovation, we can expect dapps to transform industries, empower individuals, and drive the adoption of decentralized technologies in the years to come.

Remember, this article is just a glimpse into the vast realm of dapp development. As the technology continues to evolve, new trends and technologies will emerge, further expanding the horizons of what dapps can achieve. So, buckle up and get ready for an exciting journey into the future of decentralized application development.

Continue Reading

Interesting Articles

George Springer of the Toronto Blue Jays celebrates their playoff berth. George Springer of the Toronto Blue Jays celebrates their playoff berth.
News17 mins ago

Toronto Blue Jays signed George Springer for the playoff moments ahead

Share this post: Share on X (Twitter) Share on Facebook Share on LinkedIn Share on WhatsApp Breadcrumb Trail Links Toronto...

Tamara Keith and Andrew Desiderio on what’s next for the House and McCarthy’s speakership Tamara Keith and Andrew Desiderio on what’s next for the House and McCarthy’s speakership
News39 mins ago

Tamara Keith and Andrew Desiderio on what’s next for the House and McCarthy’s speakership

Share this post: Share on X (Twitter) Share on Facebook Share on LinkedIn Share on WhatsApp Tamara Keith, National Public...

Rep. Patrick McHenry of North Carolina is the leader of the House, at least for now Rep. Patrick McHenry of North Carolina is the leader of the House, at least for now
News57 mins ago

Rep. Patrick McHenry of North Carolina is the leader of the House, at least for now

Share this post: Share on X (Twitter) Share on Facebook Share on LinkedIn Share on WhatsApp RALEIGH, N.C. (AP) —...

Doubtful Next Year’s COLA Will Come Close To 2023’s – Forbes Advisor Doubtful Next Year’s COLA Will Come Close To 2023’s – Forbes Advisor
News60 mins ago

Doubtful Next Year’s COLA Will Come Close To 2023’s – Forbes Advisor

Share this post: Share on X (Twitter) Share on Facebook Share on LinkedIn Share on WhatsApp Editorial Note: We earn...

McHenry orders Pelosi to vacate Capitol office in first acts as Speaker McHenry orders Pelosi to vacate Capitol office in first acts as Speaker
News1 hour ago

McHenry orders Pelosi to vacate Capitol office in first acts as Speaker

Share this post: Share on X (Twitter) Share on Facebook Share on LinkedIn Share on WhatsApp Speaker Pro Tem Patrick...

Man United ratings: Hojlund 9/10, Onana 3/10 in shock defeat Man United ratings: Hojlund 9/10, Onana 3/10 in shock defeat
News1 hour ago

Man United ratings: Hojlund 9/10, Onana 3/10 in shock defeat

Share this post: Share on X (Twitter) Share on Facebook Share on LinkedIn Share on WhatsApp Manchester United’s woes continued...

Feds bust 8 illegal massage parlors across Carolinas Feds bust 8 illegal massage parlors across Carolinas
News1 hour ago

Feds bust 8 illegal massage parlors across Carolinas

Share this post: Share on X (Twitter) Share on Facebook Share on LinkedIn Share on WhatsApp Two women are accused...

Average MLB game time dropped to 2:40 with pitch clock Average MLB game time dropped to 2:40 with pitch clock
News2 hours ago

Average MLB game time dropped to 2:40 with pitch clock

Share this post: Share on X (Twitter) Share on Facebook Share on LinkedIn Share on WhatsApp NEW YORK — The...

Things to know about the resignation of a Kansas police chief who led a raid on a small newspaper Things to know about the resignation of a Kansas police chief who led a raid on a small newspaper
News2 hours ago

Things to know about the resignation of a Kansas police chief who led a raid on a small newspaper

Share this post: Share on X (Twitter) Share on Facebook Share on LinkedIn Share on WhatsApp TOPEKA, Kan. (AP) —...

Woman’s Facebook Marketplace PSA goes viral on TikTok Woman’s Facebook Marketplace PSA goes viral on TikTok
News2 hours ago

Woman’s Facebook Marketplace PSA goes viral on TikTok

Share this post: Share on X (Twitter) Share on Facebook Share on LinkedIn Share on WhatsApp The victim of a...

Trending