Persystance has sound experience and expertise in this emerging technology and is ready to assist with the creation of your next decentralized application or deployment of your very own blockchain based coin or token.
Our team consists of leading blockchain figures, recognised domestically and regionally. We have already helped our clients deploy real-world solutions, helping them to leverage the maximum advantage of the numerous opportunities that the emerging technology has to offer and have already assisted in the creation of:
A blockchain, originally block chain, is a growing list of records, called blocks, that are linked using cryptography, with each new block containing a cryptographic hash of the previous block creating and ever growing list of records. By design blockchains are resistant to modification of the data and forms part of an open, “Distributed Ledger” that records transactions between two parties in a verifiable and permanent method that once recorded cannot be changed.
Once recorded, the data in any given block cannot be altered retroactively without alteration of all subsequent blocks, which requires consensus of the network majority. Although blockchain records are not unalterable, blockchains may be considered secure by design and exemplify a distributed computing system with high Byzantine fault tolerance. Public and some private blockchains are typically maintained by a network of peer-to-peer computers or record keepers collectively adhering to the protocols of the blockchain rules and co-operate by communication and validating new blocks or transactions
Smart contract is just a phrase used to describe computer code that can facilitate the exchange of money, content, property, shares, or anything of value. When running on the blockchain a smart contract becomes like a self-operating computer program that automatically executes when specific conditions are met. Because smart contracts run on the blockchain, they run exactly as programmed without any possibility of censorship, downtime, fraud or third party interference.
Decentralized Applications, DApps as they are referred to are the becoming more popular each day as various teams are finding new ways to decentralize almost everything, with decentralised applications, standards are set and are being implemented using smart contracts.Since public blockchains are transparent, teams who build DApps have their code displayed publicly for anyone who wants to verify its operations. This new way of building applications has come a long way from its beginnings - to make financial transactions possible between two parties without the need for a mediator.
Now this new technology is being applied in almost every sector of the economy and more importantly, developers are finding means to reward users, with the platform’s native tokens than can easily be interchangeable into real money or another cryptocurrency!Large scale and established public blockchains such as Ethereum, Tron, NEO and EOS are revolutionising markets from supply-chain management to decentralised exchanges and the burgeoning Gambling and Gaming sectors.
Like Bitcoin, Ethereum is a distributed public blockchain network. Although there are some significant technical differences between the two, the most important distinction to note is that Bitcoin and Ethereum differ substantially in purpose and capability, for example Bitcoin offers one particular application of blockchain technology, a peer to peer electronic cash system that enables online payments, with the Bitcoin blockchain is used to track ownership of digital currency i.e. bitcoins.
Ethereum blockchain focuses on running the programming code of any decentralized application or Smart Contract. In the Ethereum blockchain, instead of mining for coins miners work to earn Ether, a type of crypto token that fuels the network. Beyond a tradeable cryptocurrency, Ether is also used by application developers to pay for transaction fees and services on the Ethereum network.
It was the first example of what we today call cryptocurrencies, a growing asset class that shares some characteristics of traditional currencies, with verification based on cryptography.
A pseudonymous software developer going by the name of Satoshi Nakamoto proposed bitcoin in 2008, as an electronic payment system based on mathematical proof. The idea was to produce a means of exchange, independent of any central authority, that could be transferred electronically in a secure, verifiable and immutable way.
The system enables payments to be sent between users without passing through a central authority, such as a bank or payment gateway. It is created and held electronically. Bitcoins aren't printed, like dollars or euros - they're produced by computers all around the world, using free software.
One of the projects you will inevitably stumble upon when you look into blockchain, is Hyperledger of the Linux Foundation and while it is relatively straightforward to understand what cryptocurrencies like Bitcoin and even Ethereum are, it is more difficult to get your head around the Hyperledger initiative.
Hyperledger does not support Bitcoin or any other cryptocurrency. Hyperledger is, Not a company, Not a cryptocurrency and Not a blockchain… It is more like a hub for open industrial blockchain development, On its website Hyperledger explains:
“Hyperledger is an open source collaborative effort created to advance cross-industry blockchain technologies. It is a global collaboration, hosted by The Linux Foundation, including leaders in finance, banking, Internet of Things, supply chains, manufacturing, and Technology.”
However this project offers some exciting projects for non-currency, industrial blockchain applications and tToday Hyperledger has an impressive list of more than 100 members that cover a wide scope of well know industry leaders from finance to industry and tech giants.
Persystance blockchain consultants and Hyperledger developers have experience in Hyperledger platforms like Fabric and Sawtooth, and tools such as Cello.
Contact us to see how we can help with your next blockchain or distributed ledger initiative.