Blockchain technology is often considered as a confusing concept to interpret and implement. Luckily, TheBlockchainAcademy.com is here to simplify its understanding and embrace its potential for the users belonging to various industries.
Blockchain technology is not a new concept anymore; it has become a fast growing industry. Similar kinds of data structure were present long before this famous bitcoin crytocurrency emerged; however, principal theories of the blockchain structures used today were initially defined and explained in the original bitcoin white paper developed and published by Satoshi Nakamoto in 2008. Now when bitcoin, and its underlying technology i.e. blockchain is on its way to celebrate its decade of origin next year, it is important not to forget the related blockchain technologies that have emerged lately. In this post, we will discuss a few of them.
IPFS is the distributed file system that looks for connecting all computing devices with same system of files. In certain ways, this is quote similar to the original objectives of the Web; however, IPFS is more resembling to a single bittorrent swarm exchanging git objects. IPFS can be a new key subsystem of the internet. If developed right, it can replace or complement HTTP. It may replace or complement even more. At its gist, the IPFS is the versioned file system, which can take the files, manage them, store them and then keep the track of versions with time. IPFS also determines for how these files move across the network; hence it is also taken as a distributed file system.
How does it work?
When files are added in the IPFS, each of the file and all the blocks in it are provided a unique fingerprint termed as cryptographic hash. IPFA eliminates the duplication all through the network and monitors the history for each file. Every network node saves just content it is interest in, and indexing information that aids in determining who is saving what. While looking up the files, you are basically asking the network for finding nodes that are storing the content underlying a unique hash. Each file may be found by human-readable names by means of a decentralized naming system referred as IPNS.
In view of the attacks by malicious Tor exit nodes on the blockchain users, the blockchain has started working with some of the world’s biggest Tor project researchers along with security experts to enhance users’ security, who choose to use privacy enhancing software of Tor. The last level of the blockchain security center enables you to block the Tor requests. If any of the users is not familiar with Tor, and has no interest in utilizing it, it is strongly recommended for him or her to enable this option.
Blockchain.info officially announced in 2014 that they are the second website in the world to get an SSL certificate for their .onion address. This is a great win for the privacy and Bitcoin users around the world. It answered increasing concerns surrounding the security of utilizing web wallets like blockchain.info while linked via Tor network.
The cloud: Microsoft Azure, IBM BlueMix and Amazon Web Services
· Microsoft Azure
Microsoft initiated the partnership with ConsenSys in 2015 to offer Ethereum Blockchain as a Service (EBaaS) on Microsoft Azure, enabling the developers and enterprise clients to have a single click cloud based blockchain developer setting. The early offering is based on two tools facilitating the quick development of SmartContract based applications:
o Ether.Camp – An integrated developer environment
o BlockApps – a private, semi-private Ethereum blockchain environment
Ethereum Blockchain as a Service given by Microsoft Azure and ConsenSys enables the financial services partners and customers to play, discover, and fail fast at a little cost in a ready-made production environment.
· IBM BlueMix
Bluemix is the most recent cloud offering launched by IBM. It enables developers and organizations to easily and quickly create, install, and administer applications on the cloud. Bluemix is the implementation of Open Cloud Architecture of IBM that is based on Cloud Foundry, an open source Platform as a Service (PaaS). IBM Blockchain networks are developed to get advantages of decentralized control, but certain cloud settings are open to vulnerabilities. Working security experts, hardware experts, cryptographers, and researchers, IBM developed essential cloud services for the tamper-resistant, trusted blockchain networks.
· Amazon Web Services
Amazon Web Services (AWS), operated by Web commerce leader Amazon, has entered a partnering with investment firm Digital Currency Group (DCG) in 2016 in order to provide a blockchain experimentation setting for enterprises. In collaboration with start ups in DCG portfolio, Amazon Web services will offer dedicated cloud structure and technical support for these projects. The startups will be working with the enterprise businesses that are looking to discover and test various blockchain applications.