The simple definition of a blockchain is, "A decentralised database containing sequential, cryptographically linked blocks of digitally signed asset transactions, governed by a consensus model."
Blockchain technology is a peer-topeer networked database governed by a set of rules. Blockchains represent a shift away from traditional trust agents and a move towards transparency. As technological building blocks, they permit applications from a broad band of industries to take advantage of sharing, tracking, and auditing digital assets.
Blockchain is a disruptive technology because of its ability to digitise, decentralise, secure and incentivize the validation of transactions. It has the potential to improve security, processes and systems in the financial and government services, as well as in every domain where accurate, tamper-proof recordkeeping is essential.
A wide range of industries are evaluating this technology to determine what strategic differentiators could exist for their businesses if they leverage it. These include FinTech, healthcare, aviation, global logistics and shipping, transportation, music, manufacturing, security, media, identity, automotive, land use and government.
Industry adoption of blockchain platforms
As per Globenewswire, by 2024, the global blockchain market is expected to be worth over US$ 20 billion.
The use and adoption of blockchain technology is expanding at a rapid pace all over the world. According to Forbes, the Republic of Georgia plans to use blockchain technology to validate property-related government transactions. Countries like Sweden and the Honduras are also developing similar blockchain based systems, for enabling secured e-governance.
Gartner projects that blockchain's. business value will grow to US$ 176 billion by 2025.
This story is from the October 2022 edition of Open Source For You.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the October 2022 edition of Open Source For You.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Helgrind: Detecting Synchronisation Issues in Multithreaded Programs
Let's explore how Helgrind can be used to detect and debug multithreading issues with the help of a multithreaded C program.
The Perfect Process of Booting a PC
Booting a PC seems as simple as eating a cake. But are you aware of all that goes on behind-the-scenes to bake a delicious cake or seamlessly boot a PC?
Exploring eBPF and its Integration with Kubernetes
eBPF, a game-changing technology that extends the capabilities of the Linux kernel, offers significant advantages for Kubernetes networking. It also greatly improves Kubernetes observability by capturing detailed telemetry data directly from the kernel. Read on to find out how its integration with Kubernetes has immense benefits.
Deploying Generative AI LLMs on Docker
Built on massive datasets, large language models or LLMS are closely associated with generative Al. Integrating these models with Docker has quite a few advantages.
Containerisation: The Cornerstone of Multi-Cloud and Hybrid Cloud Success
Open source containerisation software provides the flexibility, cost-effectiveness, and community support needed to build and manage complex multi-cloud and hybrid cloud environments. By leveraging this software, businesses can unlock the full potential of multicloud and hybrid cloud architectures while minimising vendor lock-in risks.
From Virtual Machines to Docker Containers: The Evolution of Software Development
Containerisation and Kubernetes have eased software development, making it faster and better. Let's see where these are headed, looking at trends that are making life easier for developers.
India's Leap in Supercomputing: Innovating for Tomorrow
As India strides towards self-sufficiency in supercomputing, embracing this evolution isn't just an option-it is pivotal for global competitiveness and technological leadership.
SageMath: A Quick Introduction to Cybersecurity
In the previous articles in this SageMath series, we delved into graph theory and explored its applications using SageMath. In this seventh article in the series, it is time to shift our focus to another crucial subfield of computer science: cybersecurity and cryptography.
Efficient Prompt Engineering: Getting the Right Answers
OpenAl's GPT-3 and GPT-4 are powerful tools that can generate human-like text, answer questions, and provide insights. However, the quality of these outputs depends heavily on how you frame the input, or prompt. Efficient prompt engineering ensures you get the right answers by designing inputs that guide the AI towards relevant, clear, and useful responses. Let's find out how to craft effective prompts with examples.
Analysing Linus Torvald's Critique of Docker
This article looks at Docker's security flaws, particularly its shared-kernel model, and contrasts it with traditional VMs for better isolation. It discusses Linus Torvalds' concerns, explores mitigation techniques, and proposes a roadmap for building a more secure containerisation platform using hardware-assisted virtualisation, true isolation, and a robust orchestration layer.
