Blockchain Blogs

  Introduction To ensure the system's smooth operation,  blockchain technology  combines various technologies under one roof. It includes mathematical computation,  cryptography, game theory, peer-to-peer methods, and validation protocols, which essentially join to power blockchain transactions. Because blockchains do not have a central governing authority, all transactions must be robustly protected, and data must be securely stored on a distributed ledger. And for this, blockchains have a  layered architecture due to which they can facilitate a unique way of authenticating transactions. In the blog, four layers are involved, each with its distinct functionality. Now that we know the importance of all layers of blockchain technology let us dive right in and understand the architecture and what each layer does.  What is Layer 0 Blockchain? Blockchain  Layer 0 consists of the hardware and equipment required to run the network and the consensus mechanisms without any glitches. It als

  Introduction The Web3 industry has seen tremendous growth in recent years. Decentralized Finance (Defi),  Non-Fungible Tokens (NFTs),  Decentralized Autonomous Organizations  (DAOs), etc. have received a lot of media attention and funding. Moreover, these sectors will continue to grow in the future. But behind these concepts lies an interesting and exciting notion of Web3 identity. Her Web3 identity for users is fundamental to Web3 development and a whole space to realize the full potential of decentralization. So, in this blog, we'll explore everything you need to know about Web3 IDs. Meaning of Self-Sovereign Identity (SSI)  SSI (Self-Sovereign Identities) provides centralized control over information about users entirely. Ultimately, this is in line with the core ideas of  Web3 . SSI eliminates the need to store personal information on central servers and databases. Instead, individuals control the information they share, ensuring a higher level of privacy. represents. An ecos

Introduction Decentralized Autonomous Organizations (DAOs) are one of the most exciting concepts to emerge from the cryptocurrency market. Because these organizations are run by community members rather than being controlled by a centralized body, investors have a say in the project's direction. This article discusses the guide related to DAO in operation today, highlighting how DAO works, why investors are often interested in investing, and so on.  What is DAO? DAO, or Decentralized Autonomous Organization, is a community-driven entity with no central authority. It is fully autonomous and transparent.  Smart contracts  set ground rules, enforce agreed-upon decisions and are open to public scrutiny of proposals, votes, and even the code at any time. Ultimately, DAOs are fully managed by individual members. Individual members collectively make important decisions about the project's future, including Technical Upgrades and the Allocation of Funds.  Community members typically cr

  Introduction KYC chains in the financial sector are essential, requiring strict compliance and costly manual processes. The Know-Your-Customer process is the backbone of a financial institution's anti-money laundering efforts. Spending on KYC processes worldwide is estimated to have increased to $1.5 billion. While this process is costly, it is estimated that much of the effort is spent on information gathering. Minimal effort is required to evaluate and closely monitor the data.  What is KYC? Is it essential for cryptocurrency trading?  The term "Know Your Customer" refers to checking and verifying a customer's authenticity for an institution. This requires the client to submit all her KYC documents before investing in various instruments. Financial institutions are usually required by their RBI to go through their KYC process for all customers before giving them the right to carry out financial transactions. Whether the customer uses her KYC online verification or