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Blockchain Development Company - Aiwa Digital UAE

Aiwa Digital is the best blockchain app development company in Dubai and UAE that offers complete blockchain technology solutions. Hire blockchain application developer today! Visit: http://blockchaindevelopment.ae/

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Blockchain Development Company - Aiwa Digital UAE

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  1. Basic types of Blockchain Network By Aiwa Digital Dubai

  2. What is Blockchain • The distributed ledger technology, better known as blockchain, has the potential to eliminate huge amounts of record-keeping, save money and disrupt IT in ways not seen since the internet arrived. • Blockchain can only be updated by consensus between participants in the system, and when new data is entered, it can never be erased. The blockchain contains a true and verifiable record of each and every transaction ever made in the system.

  3. Types of blockchain networks

  4. CONSORTIUM BLOCKCHAINS A consortium blockchain is a blockchain where the consensus process is controlled by a pre-selected set of nodes. The right to read the blockchain may be public, or restricted to the participants. Consortium blockchains are also referred to as federated blockchains.

  5. Advantages of Consortium Blockchain • Reduces transaction costs and data redundancies • Replaces legacy systems, simplifying document handling and getting rid of semi manual compliance mechanisms

  6. A public blockchain is a blockchain that anyone in the world can read, send transactions too and expect to see them included if they are valid. • Public blockchains are secured by cryptoeconomics – the combination of economic incentives and cryptographic verification using mechanisms . • One of the drawbacks is the substantial amount of computational power necessary to maintain a distributed ledger at a large scale. PUBLIC BLOCKCHAINS

  7. Advantages of Public Blockchain • Public blockchains provide a way to protect the users of an application from the developers, establishing there are certain things that even the developers of an application have no authority to do. • Because public blockchains are open, they are likely to be used by very many entities, with no third-party verification necessary.

  8. PRIVATE BLOCKCHAINS A fully private blockchain is a blockchain where write permissions are kept to one organization. Read permissions may be public or restricted to certain participants.

  9. Advantages of Private Blockchain • The validators are known, so any risk of a 51% attack from some miner collusion does not apply. • Transactions are cheaper, since they only need to be verified by a few nodes that can be trusted to have very high processing power with no need to be verified by 10,000 nodes. • Since read permissions are restricted, private blockchains provide a greater level of privacy.

  10. Aiwa Digital is a blockchain development company offering blockchain as a service including blockchain consulting and development. • We provide blockchain solutions like Cryptocurrency, ICO and Smart contracts development services to various industries.

  11. Blockchain Development UAE Call: +971 2 6507 032 Email: info@blockchaindevelopment.ae Visit: http://blockchaindevelopment.ae/

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