Applications have become an integral part of the modern lifestyle. There are apps for anything from monetary transactions to tuning household appliances from work. But the market of apps is evolving, just like any other market. The advent of decentralized applications, or dApps, has heralded a new era in the way we perceive software on our devices. As a result, the infrastructures for maintaining dApps is becoming a hotly contested battleground for developers.
The market has already seen the creation of 2,551 dApps being used by over 95,966 users daily. Transactions through dApps are surpassing the 4,418,078 mark a day, and 11,741 smart contracts are involved in the process. Above all else, the market of dApps is already generating the volume of $21,512,096 per day and is showing no signs of abating despite the recent slump in cryptocurrency prices.
The growing competition on the market of decentralized infrastructures is largely due to the launch of new public protocols with their unique technical advantages, which are simplifying the development of dApps and the implementation of ideas and concepts that could not be implemented on Ethereum, Tron or EOS. The lack of the technology needed that would negate the disadvantages of blockchain, such as the inability of network scaling, low network bandwidth, low transaction processing times, and others, is the main barrier preventing dApps from becoming even more popular and widely accepted as logical alternatives to classical apps.
Apart from the all too popular Ethereum, Tron and EOS networks, there are other infrastructures becoming worthy alternatives. The Credits platform is one such competitor in the field that is offering a new solution for the development of dApps.
The Credits blockchain platform is a completely open-source and fully decentralized blockchain software protocol operating on smart contracts that are designed to allow the creation of high-performance applications.
Credits smart contracts are written in JAVA, one of the most popular programming languages in the world that is both accessible to most programmers and easily configurable to suit an endless variety of needs. Apache Thrift technology is used to allow the platform to simplify the process of integration with products developed in different programming languages.
It Is Working
Credits is not just a platform, but a full-fledged company that has publicly opened access to its software for all users. Anyone willing can join the network, launch an operating node and develop their own products and services based on the Credits protocol. To date, more than 20 decentralized applications have been developed on the Credits protocol.The full list is available on Credits dApp Map.
Projects such as the 0XUniverse gaming dApps, Unlimited Tower, ExoPlanets, Royale Roulette, along with the Karma, Rare Bits and WandX projects that are currently operating on the basis of the Ethereum, Tron and EOS protocols, are considering the possibility of migrating their applications to the Credits protocol for better functioning.
Among the more interesting products based on the Credits platform is the Crext Extension, an analogue of Metamask acting as a browser extension for storing the Credits cryptocurrency and other tokens, and interacting with products based on Credits protocol. Another dApp is the CScheduler, a Credits blockchain-based service that provides the ability to schedule smart contracts at a defining moment or at specified time intervals. Among the popular gaming dApps on the Credits platform is Dice, a blockchain-based gambling game involving casting dice under the supervision of a random number generator.
Competition Is Progress
It is impossible to remain on what has already been achieved and the IT sector is the most progressive industry in the world, raking in hundreds of billions of dollars a year on apps and other products. The blockchain industry is catching up in terms of capitalization as major players are stepping in to provide the necessary infrastructure for its growth. However, the mainstays of the market are not indomitable and are gradually giving way to more advanced and progressive solutions.
The progress that the Credits platform has already made in its development and the innovative nature of its protocol have attracted the attention of many developers and giants of the IT industry, such as Lenovo and IBM. But the project team does not mean to stop on what has already been achieved and is planning to launch thematic hackathons and an Accelerator Program with a prize pool up to $2,000,000 to support the development of products and to showcase the capabilities of the platform.
If all goes as planned, the market will soon see a large number of products developed on the basis of the Credits protocol that will contribute to the development of the project infrastructure and its tokenomics. No matter the outcome of the upcoming events, one thing is clear – Credits is here to stay.
India Wants to Build Blockchain Platform to Improve Electoral Process
One of the biggest surprises of the year is India’s apparently gradual road back to embracing cryptocurrencies and blockchain technology.
The country, which is the third-largest economy in the world, has held out against cryptocurrencies in the past, with the government directing commercial banks across the nation not to do business with companies in the crypto space. However, several activities across the nation have indicated that the Modi administration might be getting ready to switch its stance- even if a little bit.
India’s Arduous Voting Process
Recently, India TV News reported that the Indian Election Commission has collaborated with the Indian Institute of Technology Madras, one of the country’s top technical institutes, to develop a blockchain-based voting system that will help to increase voter turnout. According to the report, the new platform is in line with the government’s mission to help improve the integrity of elections- a problem which the government is deeply disturbed about, in ensuring free and fair elections.
Besides being the world’s third-largest economy, India is the most populous nation in the world, with 1.3 billion registered citizens. In last year’s elections, the country had 900 million eligible voters- a number that roughly represents about an eighth of the world’s total population. India’s elections have been seen by many as the largest exercise in democracy in human history.
However, the sheer number of registered voters is just one of the main problems India’s election faces. In the country, polling stations need to be set up everywhere- in the country’s rural Westward cities, the Southern coastal region, and in the jungles that form its eastern border. Every Indian citizen is expected to be within 2km of a voting station. The ambitious project means that India has an election month- unlike other countries that have just one day (or, in the most extreme cases, a couple of days).
Blockchain Will be Part of Democratic History
With the blockchain platform, however, it could all change. As the news source explained, the platform will be a two-way blockchain remote voting process that will require voters to be present at a predetermined venue. Once a vote is cast, a smart contract is executed, and the ballot will be encrypted. A blockchain hashtag is generated in this process, and candidates- along with their political parties- will get notified.
Senior Deputy Election Commissioner Sandeep Saxena also commented on the increased convenience that this platform could provide. “Suppose there is a Lok Sabha election, and a Chennai voter is in Delhi. Instead of returning to vote in his or her constituency or missing out on voting, the voter can reach a predesignated spot set up by the EC, say in Connaught Place, in a particular time window and can cast his vote,” the election commission boss explained.
As for the prospect of cryptocurrencies gaining entry into the country, the case is still being debated. The Internet and Mobile Association of India (IMAI) is currently in the midst of a legal battle with the Reserve Bank of India (RBI) over last year’s ban on banks serving crypto businesses.
HashCash’s Blockchain Fights Fake News With Blockchain Integration
- HashCash Consultant enables enterprises and commercial bodies to move assets and settle payments across borders using Blockchain Technology in real-time.
- HashCash will not only be addressing news related to blockchain but basic news and information which suffers the same agony.
- Fake news is one of those topics on which constant Buzz is happened to be around and even you want to desolate from the news.
HashCash Consultant enables enterprises and commercial bodies to move assets and settle payments across borders using Blockchain Technology in real-time. HashClash is a US-based digital asset exchange and global software company. It also runs Paybito and digital asset payment processor, Bill Bitcoin.
It has been one of the front runners in the Blockchain development and now it is focusing on the key issues which in the blockchain industry. The major problem is fake news which is the most debated issue in the panel and crypto ecosystem and polluting it for the newcomers to sustain in the market.
HashCash will not only be addressing news related to blockchain but basic news and information which suffers the same agony.
To fight against this issue HashCash Consultants has partnered with a global media company that believes that by doing so it can at least have their contribution in the most debated news to get clean and provide their say in the authenticity of the news.
The world where the tracking of the news source is very much impossible and not sure if the news is authentic which is in mass consumption can lead to serious damage to commercial companies and the market.
Fake news is one of those topics on which constant Buzz is happened to be around and even you want to desolate from the news. fake news is slapped on your face any time and there is no end to it and you will not bother to even check it before consuming.
Recently in the informational age, the circulation of information is carried in a speed of light and the technologies are constructing themselves to morph and provide equally fast hardware and software to compete.
With technology, content is also morphing themselves to be more interesting and nothing beats the fake news in getting viral than authentic ones.
Hash cash’s news collaboration project aims with the global media house is to address all the above issues through the integration of blockchain. The partner company will be using HC Net to record authentic and real news feeds Visuals and photographs.
Every news will be geographically tagged and cryptographically signed with a timestamp to authenticate and easily trace back to its origin.
This will provide transparency and trust in the authenticity of the news and being stored in a blockchain simply makes it indestructible with no alteration window will be provided in it.
Electoral Process In India To Be Furthered Thanks To Blockchain
- Blockchain is no longer limited to just cryptocurrencies like bitcoin.
- Blockchain is being used in several different industries on many different pilot projects on a global scale.
- The Election Commission of India is utilising blockchain technology for its voting system.
Blockchain is no longer limited to just cryptocurrencies like bitcoin. Blockchain is quickly becoming unravelled as this technology has been used in several different industries on many different pilot projects on a global scale.
The Election Commission of India has teamed up with the expert engineering college, IIT Madras in order to work on utilising blockchain technology for its voting system. This is being done in an effort to increase the turnout for voters. In India, over 84% of people migrate from one state to another.
Going along with this collaboration is the people who have the right to vote that live outside of their home constituencies. They will be able to cast their votes without going to the polling station. The Senior Deputy Election Commissioner, Sandeep Saxena has explained how blockchain will be utilised in its development stage:
“[the project is a] two-way electronic voting system, in a controlled environment, on white-listed IP devices on dedicated internet lines, enabled with biometric devices and a web camera.”
On top of this, the so-called “two-way blockchain remote voting” system will essentially require the voters to be there in the designated venue at a predetermined period of time. In order to make use of this facility, voter identification and authorisation will be necessary. Following this, the establishment of a personalised e-ballot paper fueled through blockchain will be created.
After a vote has been made, a smart contract will be then sent off. The ballot will then be securely encrypted and a blockchain hashtag will be generated from this. Such a hashtag will be received by the candidates as well as the political parties themselves.
Saxena further went on to say:
“Suppose there is a Lok Sabha election and a Chennai voter is in Delhi. Instead of returning to vote in his or her constituency or missing out on voting, the voter can reach a predesignated spot set up by the EC, say in Connaught Place, in a particular time window and can cast his vote.”
It will be interesting to see how this plays out. For more news on this and other crypto updates, keep it with CryptoDaily!