8 Computing Solutions at the Forefront of the New Economy

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Recently, the traditional economy and the digital economy have been exposed to exciting new technologies that promise a more decentralized, secure and fast network for users. In this article, I've included some of the major players in this developing market.

1. Golem

Golem is an open source decentralized computer network.

How does Golem

The Golem Network is a computing power market where users can earn rent by renting. their machines or by developing and selling software.

In the network, users who rent computing power are called "providers" and users who gain power are called "callers". Applicants use Golem for various purposes including graphic processing, data analysis, microservices and machine learning.

Advantages

  • The division of labor means that tasks can be completed simultaneously, allowing for shorter project times.
  • The cost of doing business is lower than that of cloud-based services.
  • Users can be instantly paid for their work with Golem Network Token (GTM), a token on the Ethereum blockchain.
  • Golem builds their entire stack from the bottom up, an approach that usually results in excellent UX.

2. iExec

IExec is a decentralized market for cloud services, focused on block-based distributed applications and affordable and high-performance computing.

iExecc Dapps

Unlike Golem, iExec (since the release of its v1) allows anyone to develop and run applications.

The iExecc Dapp store contains a variety of applications. Given the experienced team behind iExec, the choice of the Dapp route is explained by the fact that there is probably less competition here. After establishing itself in Dapp's decentralized market, iExec plans to expand to decentralized IT tasks.

RLC

RLC is an abbreviation for "Runs on Lots of Computers", and is the native token of iExec. There are currently 87 million ERC-20 chips in circulation.

3. Ethereum

Ethereum is an open-source platform based on a blockchain allowing users to create decentralized applications. The calculations are performed in an isolated environment called Ethereum Virtual Machine that resides in all the nodes connected to the network. The product of the calculations is stored in the blockchain.

Characteristics of the Ethereum blockchain

Ether

Ether is the motto of the Ethereum blockchain. ETH (Ethereum Hard Fork) and ETC (Ethereum Classic) crypto-currencies are two Ether values.

Smart contract

The EVM is capable of performing a "smart contact", an algorithm that automatically stores and executes contract terms. Both parties involved in a transaction accept the terms of the smart contract.

Bitcoin vs Ethereum Platform

The Bitcoin blockchain focuses on a set of predefined operations, such as tracking Bitcoin transactions, while Ethereum allows users to execute code of any complexity, thus making it suitable for any application decentralized, including cryptocurrencies.

Consensus Mechanism

Calculating on the Ethereum network is more expensive and takes longer than a standard computer due to the parallelization of the computer. To maintain consensus, all participants must agree on the order of all transactions that took place, whether they took part in the transaction or not.

Ethereum nodes store the most recent status of each intelligent contract, as well as all Ether transactions. Because EVM is an isolated system, the code executes without access to the network or the file system. Access is therefore limited even between smart contracts.

4. Hyperledger fabric

Hyperledger Fabric, hosted by the Linux Foundation, is an Open Led Distributed Ledger (DLT) technology with a modular, configurable architecture that can be used at the enterprise level in a variety of industries.

Hyperledger Fabric Features

Confidentiality, development and performance

  • The Fabric platform allows a private and authorized transaction in which the operators know each other and can be bound by rules, such as a legal agreement.
  • Fabric supports smart contracts written in common languages, such as Java and Go, so no additional training is required to create smart contracts.
  • Performance is improved because, unlike Ethereum, only parties involved in the transaction must reach a consensus.

Knots of fabric

Similarly, unlike Ethereum, fabric nodes have different roles and tasks in the consensus process. Nodes can be donors, customers or peers.

Aboriginal currency

Fabric does not have native cryptocurrency. However, chaincode can be used to develop a native currency.

5. Tendermint

Tendermint has a blockchain consensus engine, called Tendermint Core, and a generic application interface, called the Application Blockchain Interface (ABCI). The software allows secure and consistent replication of an application on multiple computers.

Tendermint Core

The BFT (Byzantine Fault Tolerant) middleware of the consensus engine can securely replicate the state transition mechanism. The BFT middleware can tolerate a third of failures, including hacking attacks.

Tendermint's goal was to provide a safer and more efficient consensus algorithm than Bitcoin's PoW. The software has been the basis of extensive consensus research, according to the Casper team: a fault-tolerant chain, such as Tendermint, can make good decisions about who produces a block, while less reliable chain causes problems with chicken and egg. .

The software is user-friendly, replicates applications written in any language and has several applications.

6. Lisk

Lisk is a decentralized and distributed platform that allows users to develop applications and help them with custom block strings.

Lisk Features

Developers can use Lisk's JavaScript-based Software Development Kit (SDK) to create both the backend and the frontend of their application. However, Lisk offers no protection against non-deterministic behavior. In addition, the platform can not prevent infinite loops and measure memory consumption.

Lisk consensus mechanism

Lisk asks developers to follow the "rules" for contracts to ensure consensus. For example, they ask developers to "do not use Math.random ()".

7. Corda (V 3.0)

Corda is an open source distributed ledger (DLT) platform for the financial sector.

Characteristics of Corda

The Corda network is an authorized network – it is not open to all node operators. The nodes work on Corda and CoDapps and communicate with each other.

The doorman & # 39; each network defines the admission rules for the nodes that wish to join the network. Like Fabric, Corda offers more privacy because of its detailed access control to the recordings and better permeability due to the limited consensus to the parties involved.

On Corda, contract developers also add legal prose to their contract. This feature consolidates the contract by legitimizing it with the associated legal prose. The platform does not have a native token.

8. Rootstock

Rootstock (RSK) is an open source intelligent contract platform built on the Bitcoin blockchain.

Characteristics of the rootstock

Smart contracts

RSK activates the smart contract on the Bitcoin network. It uses the Turing-complete virtual machine Rootstock Virtual Machine (RVM) for smart contracts. A two-way dowel allows users to send Bitcoin directly to the Rootstock channel. RSK parts can be used with smart contracts and Dapps. RSK contracts replicate proof of existence, & # 39; which serves to prove the existence of a document (or a right of ownership).

security

The RSK blockchain has merge-retrieval capabilities, giving it the same level of security as Bitcoin in terms of settlement purpose and double-spending.

SBTC

RSK is a sidechain of Bitcoin. Bitcoins on the Rootstock blockchain are called SBTCs.

RSK fills the gaps in the Bitcoin network by enabling faster transactions. In addition to being convenient for users, this also helps to limit the size of the Bitcoin block.


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