Blockchain is the latest talk of the financial town. It’s the technology that made global payments not only fast but also affordable. Some say blockchain is the next big thing after the internet. And, that statement seems to be coming true given the increasing popularity and demand for blockchain. But, can blockchain achieve or maybe surpass the popularity of the internet? Let’s find out.
What is blockchain?
Blockchain is a decentralized ledger, where information is stored in connected blocks. As a distributed ledger technology (DLT), blockchain stores information in a decentralized, public manner such that it is viewable to everyone but cannot be changed, which makes it secure against unauthorised access. Since the information stays distributed among all nodes in the blockchain network, it is not possible to modify information in one node without affecting all nodes. The lack of a centralized point of error/weakness is what makes blockchain the most secure way to store and transfer digital data.
The core properties of blockchain include security, programmability, anonymity, immutability, distributed, unanimity, and time-stamping.
Blockchain Use Cases and Benefits
Blockchain is surely starting to make an impact on users/businesses in different industries through its variety of use cases and benefits, which include -
Decentralized Ownership of Assets
Blockchain provides a way for recording transactions in an immutable way, which makes it easy to fairly authenticate a transaction in case of a dispute. This has possible use cases in the fields of ticketing, real estate, art, and fashion. Using blockchain for storing assets and transaction records, it would be easy to verify ownership based on unique authentication and transactions would be processed faster and at a low cost. This will further add liquidity to otherwise illiquid assets such as real estate.
Secure Online Storage
Cloud storage has proven to be a good way to store files online, which saves the need to own physical storage. However, the centralized nature of cloud storage makes it prone to hacking and similar cyber attacks. Blockchain with its decentralized system to store information and digital data can significantly deal with this problem and provide a much better, secure and low-cost way to store data online.
Middlemen-free Trading
One of the biggest benefits of blockchain is the ability to trade without a middleman. And I’m not talking just about crypto trading, but you can basically buy and sell anything using smart contracts on the blockchain. These include music labels, digital rights, NFTs, products, services, car, home, and more. Even digital payments, including foreign money transfers and remittances, could become a lot cheaper if sent via blockchain instead of traditional payment options that cost up to 5-20% extra.
For example, Libra Coin is an e-commerce-focused digital currency that can be used for making fast & low-cost digital payments for goods and services to e-commerce merchants and operators anywhere in the world.
While the internet has been offering all of the above services for the past many years, it has ended up creating a highly competitive environment, where some specific providers have gained an edge over others and are in a way dominating the industry. Blockchain provides all these services and benefits along with equal opportunities for everyone.
Originally published at www.medium.com
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TRON was devised in the year 2017 by Justin Sun.
Later in 2018, it is separated from ETH and developed as an own token.Tron is a blockchain-based operating system on which anyone can create decentralized applications and share content.
Tron was developed with a prime focus which is to help content creators by offering them rewards for their efforts on work.
Currently, the social media industry is ruled by many giant industries like youtube, Facebook, and other applications.
Here the content creator will be paid less amount of money.
To cut down the middle-media party and allowing content creators to receive rewards directly from the viewers TRON network is used.
Yes, Today we are going to discuss about the concept “Blockchain In Telecom Industry” .
We already know that Blockchain have started to transform many industries like banking, SCM, Fashion, Food, Medical and so on.
Existing problems in Telecom Industry
( i.e) the number of mobile internet users in India is about 358.46 million people (2018) This would increase in count furthermore, so as of 2021 the count will be nearly 462.26 million.
Based on the market share and customer base, the list ascends as follow.
Cost per Minute ( Acquiring charge of connecting STD,LOCAL, ISD calls per Minute)
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