Hi,
I just built the HTML website on the text editor. How do I open it in firefox? D
Transparency: All transaction on a blockchain must be confirmed by the network of computers, the network all share the same data and it can only be updated through consensus and the transaction being verified.
Security: When using a blockchain to transact it provide enhanced security because the transaction have to be confirmed and recorded on a network. This makes it extremely difficult to be hacked thus preventing fraud and protects sensitive data.
Improved Traceability: Using a blockchain makes it much easier to track and trace goods from its origin to its destination.
Increased efficiency and speed: Transactions can be done much faster using a blockchain, because data can be shared amongst all the participants and because everyone is able to access the same information in real time it speeds up the whole process and payments can be completed much faster.
Reduced cost: Using a blockchain to transact and conduct business can reduce cost because there is no need for intermediaries.
Transparency: The blockchain is a distributed ledger, and instead of each computer on the network having their own individual copy of a transaction, the same transaction is shared across the network and can only be changed via consensus. Because of this, the data is more transparent and accurate than it would be if going through paper records or through a centralized network in which several copies of the document / data could be shared and altered, which increases the possibility of incorrect data or fraud.
Security: A transaction must be agreed upon by network participants before it is accepted, and then it is encrypted and added to the blockchain. Since the transaction data is stored across a network of computers across the world instead of one central location, it is very difficult for the transaction to be compromised by hackers.
Improved traceability: Since the transaction history is recorded for all time on a blockchain, the history of a product or service can more easily be tracked and trusted since it is on the blockchain - as opposed to a central entity storing historical records which can be altered and not trusted.
Increased efficiency and speed: This is a huge benefit in the business world. From outdated paper trails to various computer networks and processes, and duplicated copies of transactions, contracts and invoices on different computers - the blockchain will immensely improve the way business and financial institutions interact. Instead of paying for a product or service via a bank wire transfer which can take days, and then signing a contract, making a copy, printing and mailing, faxing or even digitally signing - and then making sure all of those documents are current and accurate and sending them separate from the payment itself (which seems archaic), a blockchain could allow all of this to be done in one place, quickly and efficiently - and much more secure and immutable. For example, using a business contract on a blockchain (such as ETH), you could essentially have the contract documents and payment all in one place - and more verified and secure (and much faster) than most of the current methods used today.
Reduced cost: You only need to trust the blockchain, and you can remove the middlemen which usually cause additional costs.
Transparency: because it is public permission-less database that is online 24/7 35.
Security: Network need to have consensus before adding new block. That means that mathematically it is proven that info(transaction) in that block is correct.
Improved traceability: On blockchain you can accurately track every movement thru all the history of the chain.
Increased efficiency and speed: Because consensus removes need of trust and this fact removes need of 3rd party - it saves time and money.
Reduced cost: Same like above. And also blockchain has infrastructure to work 24/7 365 -that reduces cost greatly.
just type the path in the address bar. ‘’ c:\folder\yourFile.html’’ or right-click on your HTML file and open with a browser
Hey, thank you man! I just got it uploaded, Rockin!
D
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Explain with your own words, why these are the benefits of using a blockchain.
- Transparency: All users have access to the same data rather than their own copy. The same ledger available is available to all users at the same time, thereby reducing lag or delays. Everyone “sees” the same data, hence data is not hidden from some users.
- Security: Each transaction must be agreed by the network to be valid before it is recorded. The transaction is encrypted and stored on many computers on the network, not just on a single server. Because the ledger exists in many places, the ability to hack is substantially reduced.
- Improved traceability: Especially important to supply chains, a transaction can be traced from its origins to the present. This allows users to verify receipt and delivery of specific items in their supply chain.
- Increased efficiency and speed: Standard protocols increase efficiency and speed of the network. Because data is stored on the network, paper forms and copy are not required. And no transmittal of data from one user to another is needed as all of the data is on the real-time, distributed network.
- Reduced cost: All of the items above reduce the cost of doing business, by reducing the number of middle men and by having standardized applications and protocols.
but this html file is local on your computer. it’s not uploaded on the internet.
OK,
I guess that happens hen we get hosting.
D
Transparency: Benefits include the openness of the Ledger/Data to all involved and the consensus needed to Accept/Decline/Change transactions.
Security: 2. Security: Benefits include the consensus of transactions, blocked and encrypted information across a network of computers.
Improved Traceability: Real time public audit trail on supply chains, or exchanges of items.
Increased Efficiency and speed: Benefits include the ability to automate a process within one location or ledger in which all have access. This closes the trust gap and speeds up or eliminates the auditing. Reconciliation/auditing become real time as you go.
Reduced Cost: Benefits include not needing to trust your partners but having the verification of the data on the blockchain. Reduced risk.
Benefits Of Using A Blockchain
- Transparency
All network participants have access to the same transaction history documentation instead of individual copies. Any updates to the documentation requires consensus.
- Security
All transactions must be agreed upon before they are recorded. Once approved, a transaction is then encrypted and linked to the previous transaction. The data associated with the transaction is stored across a network of computers making it difficult to compromise the data.
- Improved Traceability
If a company uses a blockchain to record the exchange of goods, an audit trail shows where each item originated and all locations between origination and current location.
- Increased Efficiency and Speed
Record-keeping is kept on a single digital ledger which is shared by all network participants eliminating the need to reconcile multiple ledgers. Everyone has access to the same information which generates more trust among the participants allowing for less time to clear and settle.
- Reduced Cost
Instead of relying on third parties and middleman to guarantee that a trading partner can be trusted, the only trust required is that of the data on the blockchain. The result is less documentation to review to complete a trade because all participants have access to a single, immutable version of the data.
- Transparency: Blockchain facilitates the use of a single distributed ledger that everyone that has access can view and verify. It is also transparent because any updates have to be approved by consensus of the entire network and this history cannot be modified or removed.
- Security: Blockchain is very secure because does not have a single point of attack since transactions must be approved before the are added to the ledger after decentralized consensus.
- Improved traceability: Readily auditable transaction data of goods in a supply chain help verify authenticity and prevent fraud.
- Increased efficiency and speed: A single ledger with is error free and requires no third party mediation for verification improves transaction efficiency.
- Reduced cost: Costs are reduced with no reliance on intermediaries and document review for verification since an immutable public ledger is available.
Transparency: The distributed ledger where all transactions ever going through the blockchain are recorded, is open for all eyes, not only that but it is all in real time. It is hard to be more transparent than a blockchain ledger!
Security: In order for a transaction to be accepted on a blockchain it has to meet some requirements, first of all the entire network of computers (nodes) need to do a first check of the transaction, that it has the hash connected to the previous transaction, after that this copy has to be verified by the nodes, saying that the transaction only occured one time and has the same parameters among all nodes. This prevents double spending. For a mean entity to be able to hack the blockchain it would not only have a limited time doing it, but he would need to do it with 51% of the network to reach consensus, that means an awful many servers and computers.
Improved traceability: It is very easy to trace back the origin of a transactions, food or even clothes, and we do not have to trust anybody else with provenance like this. Because the blockchain verifies the transactions each and every time.
Increased efficiency and speed: While for instance bitcoin do not have the speed of a regular master card transaction, it does have second layer solutions. But there are thousands of other projects that are using solutions for an incredibly high speed, and the fees are very low. Considering that crypto is borderless, there is no cap of liquidity in the future aswell.
Reduced cost: If you want to send money to your grandmother who still lives in the country of your origin, the transaction would go through first your bank and then the fees would be added for converting currencies, with crypto this transaction would be you sending the crypto from your wallet to you grand mothers, and with atomic swap solutions the exchange of cryptocurrencies would be instant and free of charge!
Thank you for your help,
I went back to the video, and now I have successfully loaded the page.
D
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Transparency mean finality, verifiable.
Security meaning concensus, proof of work or stack.
What is written on the Blockchain is immutable therefore always traceable.
All this reduce human intervention, and physical resources increasing speed by no the absence of third parties, reducing costs in the meantime.
Transparency: Blockchain is a decentralized public database managed according according a mathematical protocol applied through consensus by multiple nodes/people at the same time. The registration process in this public ledger links one transaction with the previous and the next one, making impossible to remove or change any transaction and enabling the treceability of any of them.
Security: This record keeping system maintain the data encrypted in many nodes at the same time making impossibl for 3rd non authorised parties to access it.
Improved traceability: The record keeping system can easily provide the historical transaction data of any asset, as any of these has a unique identifier. (that last sentence is true??)
Increased efficiency speed: Under the reliability that provides the mathematical protocol there is no need for any external control outside the network.
Reduce costs: Data is always robuts and 24/7 available and updated in the network. It greatly reduces the data procssing and managing costs inside the organitzation and with his enviroment.
- Because everyone is working with the same version of a transaction - there are not multiple copies with random differences.
- Security is a huge benefit - no need to trust a middleman - it is you and the blockchain verified.
- Traceability allows a verified chain of events like the origins of ingredients/supplies and their location/authenticity.
- Efficiency and speed is tantamount - everyone uses the same blockchain, no need for multiple people (third parties to the transaction) to hand verify multiple documents.
- Reduced cost is the biggest benefit because you need less people included on transactions + less time = less cost. WIn-WIn!
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Transparency: DL is public and every transaction is eventually copied by every entity involved in the blockchain.
Sec: Transactions require consensus of all involved parties and as such can’t be tampered with. Falsifying transactions is an immense amount of work (practically impossible) since this means most entities have to collude under a single malicious purpose.
Traceability: Dl is shared/distributed. You don’t have to go to each party and check their ledgers to confirm something.
Eff and speed: same as traceability + mining is awarded so entities race to approve transactions
Reduced cost: don’t need 3rd parties for audit or keeping ledgers
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Transparent transaction are saved on all the verified users database on the blockchain to view and monitor all the details in a transaction. Despite its availability, the records are immutable and final in the sense that they cannot be edited and must alway be verified by all members.
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Security: All new transactions must be accredited by all users in the network and therefore no one can claim false facts. The security of many users will almost always outweigh the security of one organization.
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Improved traceability: Real-time live auditing of the procurement of a product or even corporate funds can be tracked and traced. This creates a system of accountability and responsibility
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Increased efficiency & speed: minimizes clutter and redundancies in any system as it includes a trail that is verified by a set of agreed upon rules which enables transactions to clear and settle much faster.
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Reducing the number of intermediaries on trusted ledgers where everyone can share value while minimizing documentation given the immutable records
Transparency: The same ledger with agreed upon data via consensus is being shared with all network participants and can only be updated with the entire network agreeing upon it. Everyone working on the same public ledger makes it far more transparent than multiple copies being updated by multiple users.
Security: The network must come to a consensus before allowing a transaction to be approved then encrypted and linked to the previous transaction to be added to the blockchain. Information is stored across the network making it much harder to attack since there is not one single point of failure.
Improved traceability: When auditing the blockchain it is easy to see all prior transactions leading up to a transaction in question to know where the asset came from or where it is going.
Increased efficiency and speed: Blockchains reduce human error by creating a more automated process. Record keeping is done on a shared single ledger rather than having to waste time reconciling multiple ledgers.
Reduced cost: Since the blockchain is trustless, money can be saved not having to pay a middleman or a third party to be involved in a transaction.