News 2017-08-12T13:33:04+00:00

What is Blockchain Technology?

October 8th, 2015|0 Comments

Simply stated, a blockchain is a ledger of transactions, which can be secured and validated either locally or through a decentralized, peer-to-peer consensus mechanism. It holds a permanent, shared, digital history that cannot be altered or deleted. Since its inception with Bitcoin, blockchain technology has evolved to support a wide array of applications including stock issuance, bond markets, decentralized prediction markets, corporate and retail transactional management, and voting for political elections, just to name a few. The newly developed BitShares 2.0 network has emerged at the forefront of several “next generation” blockchain technologies, combining an almost unlimited potential for app. and feature building with a network capacity of over 100,000 transactions per second (the combined capacity of Visa and the Nasdaq). BitShares 2.0 has also created the world’s first and only voter-based blockchain consensus algorithm, whereby every user of the network can vote on a

The Bitcoin Blockchain Problem

October 8th, 2015|0 Comments

bcoin-openThe issue of centralized data storage and computing has made corporate accountability, government transparency, and personal privacy increasingly difficult and costly to maintain. Because of this, decentralized blockchain-based solutions are beginning to emerge as a cost-effective, in-demand and viable solution. Since Bitcoin was the first to introduce blockchain technology, it has regularly been called the “gold standard” of a working and viable blockchain solution. However, Bitcoin has several economic flaws that have yet to be adequately addressed, such as its price volatility, and its “Proof of Work” (POW) consensus algorithm that uses complex and expensive hashing and signature verification methods that actually spend more money than they create. Perhaps most concerning, however, is that h