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Raido Foundation Launches A Promising Raido Blockchain Network

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There’s an exciting project in the market that’s been launched by The Raido Foundation, that’s Raido Blockchain network. The platform aspires to be an ideal platform for fast, secure, and user-friendly cryptocurrency transactions, as well as transaction-based smart contracts in the future. Below, is an overlook of the project’s key points and how you can get a taste of the network for yourself.

The Raido network will be providing tools for a next-generation blockchain network. Over the past two years, the project has aged to gradually achieve more success. And it is now entering a fresh and exciting period of its journey. After the ICO in 2018 and the introduction of its crypto exchange in March 2019, this year has seen the launch of the genesis block and main functions of the core network.

This network uses the most common consensus model, i.e delegated proof of stake, validation of transactions are done by master nodes, that is a software which can maintain consensus throughout the network by using coins that users assign to it.  Also, the token holders earn a share of the network commission fees.

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The native currency of the platform is an ERC 20 token called  RDO.

The Raido blockchain network is focused on solving the problems faced by other blockchains in these key areas.

  • Cost of transactions

As all the transaction costs are set, business processes focused on network work, such as escrow functions can be implemented in a uniform fashion.

  • Processing Speed

The creation of a block requires just one signed transaction enabling a faster transaction confirmation.

  • Voting on the Network

Token holders get to be a part of management by voting on network changes and implementation of development plans.

  • Scalability

The resource wastage is prevented by using Raido’s DPoS network principles, although it still maintains high system production.

  • Applicability

The network’s next step is to build a framework for high-performance smart contracts that bind protected external data and decentralized apps with escrow functionality.

Working 

The working mechanism of the platform is a continued link, from Coinholders to Validators to Blockchain to Escrow.

Token holders will assign their coins to the Master node, controlled by Validator, and earn stake reward, said coins can be withdrawn anytime.

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Further, Validators run a master node that generates network blocks and validates blocks of other Master nodes by taking part in consensus. The reward is a percent of network commission charged for transactions.

A new block is created after receiving one transaction, this happens rapidly after the blockchain’s transactional core processes transactions enabling quick confirmation.

Lastly, the Escrow functionality of smart contracts with connected external data is implemented by the network executive frame. This will guarantee the fulfillment of mutual obligations.

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Conclusion

The network is hoping to launch its consensus algorithm this autumn season, and by the next spring escrow smart contracts. The first version of the DApp platform is said to be on floors by 2023 spring.

The platform has been launched with great aspirations to address the problems faced by the  existing blockchains. It also has major updates and developments lined up till the next year.

The performance, use-cases, and effectiveness are to be watched out for in further days to come.

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Plugin (PLI) Accelerates In Price Following Its Listing on Globiance And Bitrue

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Blockchain technology has the capacity to transform businesses more securely and efficiently. Moreover, the crypto industry is now submerged with billions of users which is achieved only because of blockchain technology. Besides, users prefer decentralized finance rather than the concept of centralization as DeFi does not require central financial intermediaries.

Consequently, the decentralized oracle platform Plugin offers a cost-effective solution to any smart contract that runs on the XinFin ecosystem. The Plugin provides a bridge for the smart contract with a real-time world, besides it supports different use cases. Significantly, the Plugin aims to solve high gas fees and to provide a stable system to its users in the crypto world. 

Listed On Bitrue And Globiance

Bitrue announced its listing of Plugin PLI on its platform after passing the BTRVote. Following its listing on Bitrue, the price value of the Plugin surged over 670% within 24-hours from the time of listing.

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Additionally, the next launch of PLI was on the Globiance exchange platform which was delayed from October 16 to October 20. The CEO of Globiance exchange, Oliver La Rosa, posted a tweet on October 13 regarding the listing of PLI on its platform. Following that, the post mentions that the exchange represents the “XDC Rapid Listing Initiative”.

In this listing partnership celebration, it is recorded that more than 90% of the “XDC Rapid Listing initiative” was already sold out. More so, the available trading pairs on Globiance are XDC, USDG, and GBEX. In addition, La Rosa insists traders buy their native tokens GBEX before October 30 as it is still on public sale. 

However, after the listing announcement from Bitrue, the price value of PLI jumped to its ATH at $2.50. Now, users expect that it may attain a new ATH after its listing on Globiance. At the time of writing, PLI was trading at $0.705 which is 6% down in the past 24-hours with a trading volume of $240,059.

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Mexican Company Launches Blockchain-Powered COVID-19 Test Certificates

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Medical services company MDS Mexico is using blockchain technology to prevent the forgery of fake COVID-19 tests in the Latin American country.

The COVID-19 crisis panic seems to be dissipating after almost two years; however, governments around the world are still searching for tools to control its expansion and allow their citizens to return to normal life.

A Mexican company is using blockchain technology to improve the reliability of COVID-19 diagnostic tests, using cryptography and the real-time auditability of the blockchain as a way to prevent counterfeiting and fraud.

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Fighting COVID-19 With Decentralized Technology

According to a report by Hispanic news outlet iProUP, medical services company MDS launched a rapid test application and interpretation service, as well as home PCR sample collection specifically designed to react to COVID-19. The results are delivered physically and digitally 24 hours later and will be certified with blockchain technology to guarantee in real-time the application of the test and the authenticity of the results.

Representation of a Digital Certificate protected with blockchain tecnhology. Image: MDS
Representation of a Digital Certificate protected with blockchain tecnhology. Image: MDS

As explained on its website, MDS produces a unique hash associated with the results of each test and generates a QR code that links to a digital certificate with personal information of the person who took the test, the results obtained, the physician responsible for administering the test and the date the test was taken.

To avoid the falsification of negative results, we began to certify the SARS-CoV-2 detection tests with blockchain technology and cryptographic signature, which protects the information in a unique, immutable, and unalterable QR Code that can be verified worldwide.

Mexico: Pro-Blockchain, Anti-Bitcoin

Mexico is one of the Latin American countries where the application of blockchain technology has known use cases that transcend the monetary.

As an example, the local Congress of Quintana Roo in Cancun, Mexico, experimented with the implementation of the Avalanche blockchain to digitize the records of the local public administration. The project was successfully implemented in March at the cost of 600,000 Mexican pesos (USD 290,000).

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However, the week the congress decided not to renew the contract on the grounds that the use of blockchain was “overqualified” for the needs of the Legislative Branch, i.e., the costs outweighed the benefits.

Similarly, the National Chamber of Commerce (CANACO) of Querétaro, Mexico, had already announced the availability of a digital vaccination passport issued in alliance with the blockchain company Xertify, which would allow locals to digitize their physical certificates issued by the authorities after a payment of about 400 pesos.

However, when it comes to finance, the use of cryptocurrencies – especially Bitcoin – does not enjoy the same support from the authorities.

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The country’s Central Bank has already stopped an initiative by the president of Banco Azteca to offer Bitcoin compatibility, and acted against 12 cryptocurrency exchanges for being linked to criminal cartels. Even last week, the country’s president even ruled out the use of Bitcoin as legal tender.

So, at least for now, in Mexico, the financial revolution and the blockchain revolution will walk two very distant paths.

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Benefits of Blockchain Technology to Businesses

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The year 2008 saw the introduction of bitcoin (decentralized electronic cash system). Since then, many more cryptocurrencies have been introduced to the market and turned doubters into believers. Those who had misgivings have slowly and surely embraced it as the future and alternative to fiat currency. Indeed, it is correct to say that the blockchain technology has greatly evolved and with it, a whole lot of benefits across industries (from finance to medicine).

Many businesses across different sectors are now looking for ways in which they can integrate the blockchain technology into their infrastructure. Without a doubt, it is correct to say that the future is here. We are firmly in the era of the blockchain technology and cryptocurrencies are slowly providing a paradigm shift to the way we view fiat currency and even transact. That said, how do businesses benefit from the blockchain technology?

If you thought that solutions brought about by blockchain are confined to the exchange of cryptocurrencies, you couldn’t be more wrong. Through its decentralized nature, businesses across various sectors and industries stand to benefit in the following ways.

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1. Increased And Greater Efficiency

As a decentralized digital currency, blockchain has fully done away with the need for middlemen especially when making payments or engaging in transactions of whatever nature be it in the real estate or any other lucrative industry. When you compare blockchain to conventional financial services, there is no denying that it’s faster, instantaneous, and its peer to peer decentralized nature made transactions to be more efficient.

2. Transparency

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If there is something that puts blockchain on a different level, it has to do with the fact that transaction ledgers for public addresses is accessible for viewing by pretty much anyone. This level of transparency and an unprecedented layer of accountability is one of the reasons why blockchain has become very popular with businesses. This greater transparency has in essence held businesses to higher standards and essentially made them to be more open and ascribe to higher levels of integrity in so far as their dealings with customers is concerned.

Source: Pixabay

3. Traceability

The beautiful thing about the blockchain ledger is that every single time there is an exchange of goods or a transaction recorded in the blockchain, there is an audit trail. This audit trail is instrumental in providing an irrefutable proof of ownership or simply to let a person know where goods came from. This improved traceability provided by blockchain is instrumental especially in industries or sectors where verifying authenticity of transactions or traded assets improves efficiency and customer confidence.

4. Security

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Where security is concerned, blockchain is way ahead of other record keeping systems. Why is this the case? Well, every new transaction is not only linked to a previous transaction but also encrypted. There are zero chances of a transaction being altered and this gives individuals a sense of security and trust. The decentralized nature of blockchain also ensures that individuals can transact without having to answer to central governments.

To sum it up, if you are a business in whatever sector, you cannot afford to wish away the key benefits of blockchain outlined in this post. If you are keen on being transparent, efficient, and keen on winning the trust of your customers through secure transactions, blockchain is the way to go. The future that was blockchain is now here with us.

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