Blockchain interoperability would be especially needed in value chain industries, such as supply chain, trade finance, healthcare, aviation, and other such industries. One simple blockchain network would not cut it and would simply be unable to provide all the needs for any given transaction. Hence the need for many networks and connecting these networks is what makes this system worthwhile.
There are many interesting projects such as Chainlink, Cosmos, Hybrix, Polkadot, and Wanchain. Other notable projects include Aion, Ark, ICON, Transledger, Cosmos and Overledger. The endgame is to create an ‘internet of blockchains’ – a network of blockchains that can easily talk with each other all in a decentralised manner.
The society where people systematically ask the right questions such as “How is my data handled?,” “Who has access to it?,” “How do your algorithms work?” Such “trustless” attitude can — ironically — make the world more trustworthy, and human relations more cordial.
Ilike to imagine such a future. I believe that educating people for free will get us there the fastest. This encouraged us at D.Center to create a free educational resource. It is organized as a map of all things blockchain explained at different levels of detail.
People with various backgrounds, interests, and knowledge can all learn more about crypto-related matters. This is one way of introducing people to this great alternative that is the blockchain.
Smart contracts are often mentioned in blockchain-themed patent applications and recited in claims. However, Examiners without a thorough understanding of this concept or unfamiliar with blockchain technology often equate smart contracts with legal or commercial contracts stored on blockchains. As a result, the Examiners may find claims directed to merely applying the blockchain technology to execute legal or commercial contracts, for example, as part of a commerce system, like hedging.
My recent interview with Andreas M. Antonopoulos information security expert and tech-entrepreneur, and the author of “Mastering Bitcoin”.
2. Bitcoin is simultaneously a currency, a financial asset, and a technology protocol. Underlying bitcoin is the blockchain, a distributed public ledger. For people who are not intimately familiar with either bitcoin or blockchain, could you briefly explain what these technologies consist of?
The blockchain is a distributed database. The magic of bitcoin comes from sharing control over that distributed database through a consensus mechanism called “Proof of Work”. This ensures that no one is in control of bitcoin and that it operates based on predictable rules.