Blockchain technology is evolving to provide security benefits when used with cloud computing. Major cloud platforms like Amazon, Google, and Microsoft now offer blockchain-as-a-service (BaaS) to securely store data in the cloud using blockchain's decentralized, immutable ledger. Blockchain addresses cloud computing's security risks like data loss and lack of transparency. Its use in the cloud is expected to grow significantly, expanding to applications in digital identity, payments, supply chain management, and more.
This PPT explains about the term "Cryptography - Encryption & Decryption". This PPT is for beginners and for intermediate developers who want to learn about Cryptography. I have also explained about the various classes which .Net provides for encryption and decryption and some other terms like "AES" and "DES".
A blockchain, originally block chain, is a growing list of records, called blocks, that are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. But Blockchain is not simply a mere technology that may fade away rather it is a concept that serves a wide variety of purpose and is one of the most trusted emerging technology of the era. This is a small attempt at how Blockchain technology may revolutionize the Cloud platforms.
Project Link : https://github.com/vedantmane/images
Blockchain Overview, What is Blockchain, Why Blockchain, How Blockchain will change the world, concepts of Blockchain are explained like Consensus, Distributed Ledger, Blockchain use cases and more
There are four different types of blockchain - Public blockchain, Private blockchain, Consortium blockchain and Hybrid blockchain.
This presentation gives a glimpse about blockchain technology and the different types of blockchain. Hope it helps!
This PPT explains about the term "Cryptography - Encryption & Decryption". This PPT is for beginners and for intermediate developers who want to learn about Cryptography. I have also explained about the various classes which .Net provides for encryption and decryption and some other terms like "AES" and "DES".
A blockchain, originally block chain, is a growing list of records, called blocks, that are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. But Blockchain is not simply a mere technology that may fade away rather it is a concept that serves a wide variety of purpose and is one of the most trusted emerging technology of the era. This is a small attempt at how Blockchain technology may revolutionize the Cloud platforms.
Project Link : https://github.com/vedantmane/images
Blockchain Overview, What is Blockchain, Why Blockchain, How Blockchain will change the world, concepts of Blockchain are explained like Consensus, Distributed Ledger, Blockchain use cases and more
There are four different types of blockchain - Public blockchain, Private blockchain, Consortium blockchain and Hybrid blockchain.
This presentation gives a glimpse about blockchain technology and the different types of blockchain. Hope it helps!
A simple interactive ppt on the basics of Blockchain.
What is Blockchain? Why we need it? How it works? Advantages & Disadvantages and many more topics like this.
Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system. A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain.
In computing, a denial-of-service (DoS) attack is an attempt to make a machine or network resource unavailable to its intended users, such as to temporarily or indefinitely interrupt or suspend services of a host connected to the Internet - Wikipedia
The fundamental security properties of blockchain originate from both bitcoin architecture and cryptography advances. the proficiency of the cryptographic chain of blocks was advanced giving birth to various inborn security qualities.
In 1982, a blind signature, as introduced by David Chaum. Blind Signature Scheme is a form of digital signature scheme which allows a person to get a message signed by another party without revealing any information about the message to the other party.
This presentation introduces the theory behind the blind signature scheme, how to implement it with RSA public cryptographic scheme and various practical aspects of the scheme.
This slide is about 'Blockchain Technology'. Blockchain is a method of recording information that makes it impossible or difficult for the system to be changed, hacked, or manipulated. A blockchain is a distributed ledger that duplicates and distributes transactions across the network of computers participating in the blockchain. Blockchain helps verify and trace multistep transactions needing verification and traceability. Cryptocurrencies are usually built using blockchain technology. Blockchain describes the way transactions are recorded into "blocks" and time stamped. It's a fairly complex, technical process, but the result is a digital ledger of cryptocurrency transactions that's hard for hackers to tamper with.
How Blockchain Development Can Revolutionize Your Digital Strategy.pdfPixel Softwares
Reinvent Digital Dynamics: Embrace the power of blockchain technology to reimagine your digital strategy. With decentralized solutions and smart contracts, Pixel Softwares can revolutionize your business landscape.
A simple interactive ppt on the basics of Blockchain.
What is Blockchain? Why we need it? How it works? Advantages & Disadvantages and many more topics like this.
Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system. A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain.
In computing, a denial-of-service (DoS) attack is an attempt to make a machine or network resource unavailable to its intended users, such as to temporarily or indefinitely interrupt or suspend services of a host connected to the Internet - Wikipedia
The fundamental security properties of blockchain originate from both bitcoin architecture and cryptography advances. the proficiency of the cryptographic chain of blocks was advanced giving birth to various inborn security qualities.
In 1982, a blind signature, as introduced by David Chaum. Blind Signature Scheme is a form of digital signature scheme which allows a person to get a message signed by another party without revealing any information about the message to the other party.
This presentation introduces the theory behind the blind signature scheme, how to implement it with RSA public cryptographic scheme and various practical aspects of the scheme.
This slide is about 'Blockchain Technology'. Blockchain is a method of recording information that makes it impossible or difficult for the system to be changed, hacked, or manipulated. A blockchain is a distributed ledger that duplicates and distributes transactions across the network of computers participating in the blockchain. Blockchain helps verify and trace multistep transactions needing verification and traceability. Cryptocurrencies are usually built using blockchain technology. Blockchain describes the way transactions are recorded into "blocks" and time stamped. It's a fairly complex, technical process, but the result is a digital ledger of cryptocurrency transactions that's hard for hackers to tamper with.
How Blockchain Development Can Revolutionize Your Digital Strategy.pdfPixel Softwares
Reinvent Digital Dynamics: Embrace the power of blockchain technology to reimagine your digital strategy. With decentralized solutions and smart contracts, Pixel Softwares can revolutionize your business landscape.
Blockchain-Based Internet of Things: Review, Current Trends, Applications, an...AlAtfat
Advances in technology always had an impact on our lives. Several emerging technologies, most notably the Internet of Things (IoT) and blockchain, present transformative opportunities. The blockchain is a decentralized, transparent ledger for storing transaction data. By effectively establishing trust between nodes, it has the remarkable potential to design unique architectures for most enterprise applications. When it first appeared as a platform for anonymous cryptocurrency trading, such as Bitcoin, on a public network platform, blockchain piqued the interest of researchers. The chain is completed when each block connects to the previous block. The Internet of Things (IoT) is a network of networked devices that can exchange data and be managed and controlled via unique identifiers. Automation, wireless sensor networks, embedded systems, and control systems are just a few of the well-known technologies that power the IoT. Converging advancements in real-time analytics, machine learning, commodity sensors, and embedded systems demonstrate the rapid expansion of the IoT paradigm. The Internet of Things refers to the global networking of millions of networked smart gadgets that gather and exchange data. Integrating the IoT and blockchain technology would be a significant step toward developing a reliable, secure, and comprehensive method of storing data collected by smart devices. Internet-enabled devices in the IoT can send data to private blockchain networks, creating immutable records of all transaction history. As a result, these networks produce unchangeable logs of all transactions. This research looks at how blockchain technology and the Internet of Things interact to understand better how devices can communicate with one another. The blockchain-enabled Internet of Things architecture proposed in this article is a useful framework for integrating blockchain technology and the Internet of Things using the most cutting-edge tools and methods currently available. This article discusses the principles of blockchain-based IoT, consensus methods, reviews, difficulties, prospects, applications, trends, and communication between IoT nodes in an integrated framework.
Blockchain-Based Internet of Things: Review, Current Trends, Applications, an...AlAtfat
Advances in technology always had an impact on our lives. Several emerging technologies, most notably the Internet of Things (IoT) and blockchain, present transformative opportunities. The blockchain is a decentralized, transparent ledger for storing transaction data. By effectively establishing trust between nodes, it has the remarkable potential to design unique architectures for most enterprise applications. When it first appeared as a platform for anonymous cryptocurrency trading, such as Bitcoin, on a public network platform, blockchain piqued the interest of researchers. The chain is completed when each block connects to the previous block. The Internet of Things (IoT) is a network of networked devices that can exchange data and be managed and controlled via unique identifiers. Automation, wireless sensor networks, embedded systems, and control systems are just a few of the well-known technologies that power the IoT. Converging advancements in real-time analytics, machine learning, commodity sensors, and embedded systems demonstrate the rapid expansion of the IoT paradigm. The Internet of Things refers to the global networking of millions of networked smart gadgets that gather and exchange data. Integrating the IoT and blockchain technology would be a significant step toward developing a reliable, secure, and comprehensive method of storing data collected by smart devices. Internet-enabled devices in the IoT can send data to private blockchain networks, creating immutable records of all transaction history. As a result, these networks produce unchangeable logs of all transactions. This research looks at how blockchain technology and the Internet of Things interact to understand better how devices can communicate with one another. The blockchain-enabled Internet of Things architecture proposed in this article is a useful framework for integrating blockchain technology and the Internet of Things using the most cutting-edge tools and methods currently available. This article discusses the principles of blockchain-based IoT, consensus methods, reviews, difficulties, prospects, applications, trends, and communication between IoT nodes in an integrated framework.
BASIC INTRODUCTION TO BLOCKCHAIN - JOEL SUMANTH RAJ.pdfJOELCONTACTS
Blockchain Technology is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network. An asset can be tangible (a house, car, cash, land) or intangible (intellectual property, documents, contracts, patents, copyrights, branding).
How does the Blockchain Work?
A blockchain is a distributed, peer-to-peer database that hosts a continuously growing number of transactions. Each transaction, referred to as a “block,” is secured through cryptography, timestamped, and validated by every authorized member of the database using consensus algorithms (i.e., a set of rules). A transaction that is not validated by all members of the database is not added to the database. Every transaction is attached to the previous transaction in sequential order, creating a chain of transactions (or blocks). A transaction cannot be deleted or edited, thereby creating an immutable audit trial. A transaction can only be changed by adding another transaction to the chain.
Blockchain, Blockchain Platform, Private and a Public Blockchain?dipankarmondal42
Blockchain does not store any of its information in a central location. Instead, the blockchain is copied and spread across a network of computers. Whenever a new block is added to the blockchain, every computer on the network updates its blockchain to reflect the change. By spreading that information across a network, rather than storing it in one central database, blockchain becomes more difficult to tamper with. If a copy of the blockchain fell into the hands of a hacker, only a single copy of the information, rather than the entire network, would be compromised
In this post, you will see the top Blockchain trends that you must follow as a developer. Check them out now and share your experience with us in the comments.
Blockchain Technology Explained
You must have heard about the term “blockchain,” in reference to Bitcoin and othercryptocurrencies.
https://www.leewayhertz.com/blockchain-technology-explained/
blockchain, Bitcoin, cryptocurrencies, blockchain technology, blockchain developers
#blockchain #Bitcoin #cryptocurrencies #blockchaintechnology #blockchaindevelopers
Concept of Blockchain Technology - How Does It Work (1).pdfcoingabbar
There are lots of adverse effects of the Covad-19 Pandemic but the pandemic also spurred positive transformations in life sciences: the digitization of everything. This also exacerbated-existing concerns about how to handle data and track providence between partners in the value chain.
Additionally, social distancing and virtualization of work created new challenges in collecting, managing, and sharing data. Blockchain appears to be one of many solutions experts are keeping eye on. Blockchain seems to be the most prominent solution as it can play a significant role in supporting digitization.
Blockchain is a technology and not cryptocurrency that’s why even banks are ready to adopt it in their system but before going through all the adoption processes we all need to understand the concept of Blockchain technology.
What is a Blockchain?
A blockchain is referred to as a dispensed database that is shared among the nodes of a computer network. Being stored in the database, a blockchain keeps the information electronically in digital format. Basically, Blockchains are best known for their important role in cryptocurrency systems, like bitcoin, for balancing secure and decentralized record transactions. However, the variation under a blockchain is that it assures the fidelity and security of a record of data and executes trust without the requirement for a trusted third party.
Usually, a database structures its data into tables, whereas a blockchain, such as its name suggests, structures its data into chunks (blocks) that are powerful together. This data structure naturally makes an immutable timeline of data when performed in a decentralized behavior. Once a block is filled, it is set in stone and becomes a part of this timeline. So, each block in the chain is given a correct timestamp when it is added to the chain.
How does a Blockchain Work?
The aim of blockchain is to enable digital information to be stored and distributed, however, not edited. This is how a blockchain is a foundation for continualledgers or records of transactions that cannot be modified, deleted, or damaged. This is the reason blockchains are also known as distributed ledger technology (DLT).
The very was first proposed as a research project in 1991, where the blockchain concept predated its first widespread application in use: Bitcoin, in 2009. From the past years, the use of blockchains has exploded through the creation of several cryptocurrencies, decentralized finance (Defi) applications, non -fungible tokens (NFTs), and smart contacts.
Blockchain Decentralization
Blockchain gives access to the data held in the database to be laid out among several network nodes at multiple places. It not only builds monotony, however, also maintains the dedication of the data stored therein - In case someone tries to fix a record on an occasion of the database, whereas the other nodes would not be adjusted and this is how it prevents a bad actor from doing so.
Is Azure Blockchain Cloud the Future of Cloud Computing | SysforeSysfore Technologies
Azure Blockchain as a Service (BaaS) is the new and experimental cloud technology service which Microsoft Azure is offering for its Platform as a Service (PaaS) customers. It is trying to create a marketplace for the blockchain, the distributed ledger technology on which bitcoin is built. IBM is the other adopter of this new cloud service, through its Bluemix Cloud service.
Sysfore can give you all the facts about Bitcoin cloud technology. Before going into how Bitcoin cloud works, you need to understand what the Bitcoin technology is.
Blockchain Facts_What Is It, How IT Works and How Can It Be Used.pdfHarry977415
An Article detailing what a blockchain is, how it works and how it can be used ,it has some general information Regarding uses , area it is found and information on the pros and cons.
In this case study, we are providing information about the Introduction of Blockchain Technology, Bitcoin and its environment setup, Ethereum coin, other cryptocurrencies, Bitcoin in education, and a case study of healthcare using blockchain.
Blockchain Computing: Prospects and Challenges for Digital Transformation Pr...eraser Juan José Calderón
Blockchain Computing: Prospects and Challenges for Digital Transformation . Professor Syed Akhter Hossain.
Abstract:
A revolutionary trustable sharable computing outcome, the blockchain is essentially a distributed database of records or public ledger of all transactions originated from digital events and shared among participating parties within a computing framework. Each transaction of the chain in the public ledger is verified by consensus of a majority of the participants in the system and its constituents. Once recorded, information can never be erased and neither altered. The blockchain contains a certain and verifiable record of every single transaction ever made during the business operations. In general sense, the blockchain could be described simply as being a way of storing the information of a transaction, between multiple parties in a trustable way. Recording, sharing, storing and redistributing contents in a secure and decentralized way. Being owned, run and monitored by everybody and without anyone controlling it. Besides, avoiding any kind of modifications or abuses from a central authority. Blockchain technology is non-controversial and has worked flawlessly over the last few years and is being successfully applied to both financial and non-financial world applications and listed as as the most important invention since the Internet itself. Besides, digital transformation is taking off as rapid agent for change as part of the global business convergence. In this article, detail of blockchain technologies is presented from the pe
Application of Blockchain Technologies in Digital ForensicsMahdi_Fahmideh
This lecture, from course CIS8708-Digital Forensics (Guide to Computer Forensics and Investigations), discusses the role of blockchain technologies in digital forensics investigation
A complete overview about the blockchain technology Octal IT Solution
Blockchain is a peer-to-peer trading model that does not require any third party during the transaction. Because of security, it can be widely used in applications, which requires authentication and digital voting purposes. There is still much to be achieved, but until now, the way it completely changed the entire digital payment landscape is undeniably impressive.
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Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
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Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
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Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
Explore our most comprehensive guide on lookback analysis at SafePaaS, covering access governance and how it can transform modern ERP audits. Browse now!
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
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2. go-dgtl.com
2
Table Of
Contents
Introduction 3
What is Blockchain? 4
How is Blockchain Different from Database? 4
How Does Blockchain Work? 5
Cloud and Blockchain 6
Advantage of Blockchain 6
Major Cloud Platforms Offering
Blockchain-as-a-Service (BaaS) 7
Where Blockchain is Headed 9
Sources 10
3. go-dgtl.com
HOW BLOCKCHAIN TECHNOLOGY IS EVOLVING IN THE CLOUD
3
Introduction
Blockchain is famous for its use as the technology behind
cryptocurrencies. However, it has many other applications.
One such application is in cloud computing, providing additional
security and several other benefits. Cloud and blockchain
are increasingly becoming the most valuable combinations to
enhance the security of enterprise data living on the cloud.
With major public cloud service providers like Amazon, Google,
and Microsoft already offering Blockchain-as-a-Service (BaaS),
businesses moving to the cloud and looking to improve their
data security can reap the benefits of this emerging technology.
This whitepaper provides an understanding of blockchain
technology, its increasing role in cloud computing, and an
overview of BaaS offerings from major cloud platforms.
The paper also sheds light on how cloud computing will play
a critical role in future Blockchain-based applications.
4. go-dgtl.com
HOW BLOCKCHAIN TECHNOLOGY IS EVOLVING IN THE CLOUD
4
What is Blockchain?
The term “blockchain” became popular with the rise of cryptocurrencies several years ago. However, the technology is
not restricted to these decentralized currencies. Blockchain is continuously evolving and is creating impacts in the cloud
computing world as well.
Here is an overview of what blockchain technology involves:
A blockchain is a database that stores encrypted
blocks of data and then chains them together to form
a chronological single-source-of-truth for the data.
Digital assets are distributed instead of copied or
transferred, creating an immutable record of an asset.
The asset is decentralized, allowing full real-time
access and transparency to the public.
A transparent ledger of changes preserves the
integrity of the document, which creates trust in
the asset.
Blockchain’s inherent security measures and public
ledger make it a prime technology for almost
every sector.
How is Blockchain Different
from a Database?
At first, a blockchain and a database may look similar.
However, one key difference between a typical database
and a blockchain is how the data is structured. A blockchain
collects information together in groups, known as blocks,
that hold sets of information. These blocks have certain
storage capacities and, when filled, are closed and linked
to the previously filled block, forming a chain of data known
as the blockchain. Any new information that follows will get
added into a newly formed block. Once filled, this new block
will get added again to the chain.
While a database usually structures its data into tables, a blockchain, like its name implies, structures its data into chunks
(blocks) that are strung together. This data structure inherently makes an irreversible timeline of data when implemented in a
decentralized nature. When a block gets filled, it is set in stone and becomes a part of this timeline line. Each block in the chain
is given an exact timestamp when added to the chain.
5. go-dgtl.com
HOW BLOCKCHAIN TECHNOLOGY IS EVOLVING IN THE CLOUD
5
How Does Blockchain Work?
Blockchain consists of three essential concepts: Blocks, Nodes, and Miners.
BLOCKS
Every chain consists of multiple blocks, and each block
consists of three basic elements:
The data in the block.
A 32-bit whole number called a nonce. The
nonce is randomly generated when a block is
created, which then generates a block
header hash.
The hash is a 256-bit number wedded to the
nonce. It must start with a huge number of zeroes
(i.e., be extremely small).
When the first block of a chain gets created, a nonce
(number only used once) generates the cryptographic
hash. Hash is a one-way function that produces an output
of a fixed length that cannot be deciphered. The data
within the block is considered signed and forever tied to
the nonce and hash unless it is mined.
MINERS
Miners create new blocks on the chain through a
process called mining.
In a blockchain, every block has its unique nonce and
hash but also references the hash of the previous
block in the chain. Hence, mining a block isn’t easy,
especially on large chains.
Miners use special software to solve the incredibly
complex math problem of finding a nonce that
generates an accepted hash. Because the nonce is
only 32 bits and the hash is 256, roughly four billion
possible nonce-hash combinations must be mined
before the right one gets found. When that happens,
miners are said to have found the “golden nonce,” and
their block gets added to the chain.
Making a change to any block earlier in the chain
requires re-mining, not just the block with the
change, but all the blocks that come after. It is this
complex process that makes manipulating blockchain
technology extremely difficult. Think of it as “safety in
math” since finding golden nonces requires enormous
time and computing power.
When a block is successfully mined, the change is
accepted by all of the nodes on the network, and the
miner is rewarded financially.
NODES
One of the most critical concepts in blockchain technology
is decentralization. No one computer or organization can
own the chain. Instead, it is a distributed ledger via the
nodes connected to the chain. These nodes can be any
kind of electronic device that maintains copies of the
blockchain and keeps the network functioning.
Every node has its own copy of the blockchain, and the
network must algorithmically approve any newly mined
block for the chain to be updated, trusted, and verified.
Since blockchains are transparent, it is possible to check
and view every action in the ledger. Each participant is
given a unique alphanumeric identification number that
shows their transactions.
Combining public information with a checks-and-balances
system helps the blockchain maintain integrity and create
trust among users. Essentially, blockchains can be thought
of as the scalability of trust via technology.
6. go-dgtl.com
HOW BLOCKCHAIN TECHNOLOGY IS EVOLVING IN THE CLOUD
6
Cloud and Blockchain
The primary advantage of leveraging blockchain technology in cloud computing
comes in the form of new and increased security measures to protect data. It is an
unbeatable combination that is increasingly becoming accepted and implemented
in enterprises and organizations across all industry verticals. While advancements
are already happening in cloud data security, blockchain brings along its security
enhancement benefit.
Cloud computing works in a centralized format and has massive servers that
store the information and make it available to users with the help of software.
However, these centralized-based models often make organizations compromise
on authorization, privacy, and security. Cloud computing also lacks trust, as the
information stored can be accessed by anyone, especially illegally by hackers and
malware attacks, leading to confidential data leakage.
Advantages of Blockchain
Blockchain is a core technology that presents many use cases. Blockchain applications on their own, and when coupled with
other technologies, provide a plethora of advantages.
Blockchain technology addresses the major challenge of cloud computing, which
is security and privacy. According to Statista, in 2021, 64% of the respondents
felt that their biggest cloud security concern was data loss/leakage. Encryption of
data accounts for the security and protected databases that blockchain provides.
According to the same Statista report, 44% of the respondents also treat visibility/
transparency as a major threat to cloud security. Blockchain helps construct a
decentralized and distributed trust model that allows more transparency. Public
blockchain allows every action to be visible and eliminates the hampering of data.
Once stored on the blockchain, data cannot be changed by any person.
Erasing/misusing data from anyone’s computer on a blockchain network does not
affect the data stored on other devices in the network, thus guaranteeing no loss
of data and authenticity.
Blockchain facilitates the user ownership of data which is the need of the hour.
Data stored on a blockchain remains permanent, allowing easy data traceability as
to where, when, and how it is being used and by whom. This proof of history for all
transactions and changes acts as an audit and provides an authentication benefit.
Cloud computing involves third-party providers, and a crash/downfall of the third-
party providers can lead to a huge loss of data for enterprises. Blockchains, on the
other hand, are governed by codes and do not involve third-party provisions, and
thus can be a safer option to move forward with.
7. go-dgtl.com
HOW BLOCKCHAIN TECHNOLOGY IS EVOLVING IN THE CLOUD
7
Major Cloud Platforms offering Blockchain-as-a-Service (BaaS)
With blockchain services moving away from only supporting cryptocurrency operations into many other areas of digital
transformation and IT operations, public cloud platforms like Azure, Amazon, Google, and IBM have all come out with
their own managed blockchain services.
In 2019, most major cloud platforms started offering initial blockchain services, and since then, the market has
responded favorably to these offerings.
Microsoft began offering blockchain-based storage through its Azure cloud service, charging $0.05/GB/month. Azure
Blockchain is a fully managed blockchain service. It enables users to grow and operate blockchain networks and
eliminates the need to build, manage, and expand the underlying network themselves.
AMAZON
Amazon also launched its Managed Blockchain service based on
the opensource Hyperledger Fabric and Ethereum specifications.
In addition, Amazon is also offering a fully managed service called
Amazon Managed Blockchain aimed at providing blockchain
networks that span multiple AWS accounts.
This service enables users to deploy decentralized apps
to the network, execute transactions, and share data with
others on their network without a central authority.
There’s no need to manually provision hardware, configure
software, or set up networking and security components.
An API allows network participants to add or
remove members.
Amazon’s pricing starts at $0.30 per hour, per node.
The hyperscaler also runs a peer node storage service that
maintains a user’s blockchain ledger and applications. Peer node
storage is charged in GB-per-month increments. Some of the
most established players across different market segments rely
on Amazon’s BaaS, including Verizon, Accenture, DTCC, Liberty
Mutual, and GE Aviation.
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IBM
IBM’s Blockchain Platform is arguably the most mature and prominent service
available. It forms the basis for many global proofs of concepts involving supply
chain management and cross-border financial services transactions.
Last year, IBM began offering Cloud Pak, a collection of pre-integrated
development and deployment tools and services that customers can install and
utilize quickly on Red Hat OpenShift public and private cloud environments.
Cloud Pak for Applications – one of five products in the suite – enables
organizations to build, deploy, and run applications, including decentralized
cloud-native applications. These applications can use the blockchain tools,
infrastructure services, containerization, and microservices architecture to
provide greater visibility and consistency across multi-cloud environments.
OTHERS
Along with established technology vendors, more than a half dozen start-ups are developing or have launched decentralized
backup, archive, and file-sharing services based on blockchain’s DLT and P2P protocols. Some of these new services
aggregate unused drive capacity from data centers, consumer computers, or both. In some instances, it can act as a form of
edge computing by only using storage resources closest to a customer’s regional location.
The companies that have already launched or are
well along in developing object storage services by
blockchain include BloqCloud, Cryptyk, Filecoin, Sia,
ScPrime, Storj Labs, and 0Chain.
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HOW BLOCKCHAIN TECHNOLOGY IS EVOLVING IN THE CLOUD
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Where Blockchain is Headed
Blockchain technology has evolved and will continue to be a disruptive force in many industries. At present, one of the
strongest use cases is non-fungible tokens or NFTs. Another relevant solid case can be made for cryptocurrency.
However, a shift is being seen in blockchain technology with a bright future for not just crypto’s and NFT’s but also with
transactions. Faster transactions make it almost impossible to allow hackers to access sensitive data in transactions. Due to
the secured and decentralized nature of blockchain technology, this new type of data is highly secure, and transactions can
be processed much faster without compromising security.
Digital identity is another area that is rapidly adopting blockchain technology. Many of us are accustomed to our digital space
needing a plethora of login and password information. However, with blockchain technology, we are moving to an area where
authentication will no longer be based on security questions and icons for verification. Instead, these will get replaced by a
digital identity made up of a unique set of numbers assigned to each user on a blockchain network.
These are examples of only a few areas where the growth and adoption of blockchain technology are on the rise. The scope
of blockchain will expand and include IoT, data analysis, finance, and more. The global blockchain market is expected to grow
tremendously over the next few years approaching a market cap of almost $34B by 2026. The cloud will continue to play an
essential role in managing, providing, and using blockchain technology. Blockchain technology has already been implemented
in many fields, including digital identities, payment systems, cloud data storage, smart contracts, issuance of cryptocurrencies
(ICO), logistics management, and IoT transactions. These use cases are expected to serve as new foundations for entirely new
types of businesses and services in the future.
The global blockchain
market is expected to grow
tremendously over the next
few years approaching a
market cap of almost
$34B by 2026.