The Blockchain
'This is amazing!' I shouted, when I first heard about the operations of the blockchain technology few years ago. I was fascinated by the immutable nature of the blockchain that makes it impossible for data stored on it to be completely erased but store permanently without alteration.
Transparency in the blockchain operation is another feature that got my attention, as every ledger stored on the blockchain or transactions carried out through it are available for all to see. Which I see an antidote to corruption in every sector of the society, especially in the sectors where financial transactions are carried out. Blockchain could bring about transparency in governance when it is used in the financial transactions of Government officials and public companies.
Mother of all is that cryptocurrencies are enabled on the blockchain which have become the future of currencies used as medium of exchange for goods and services in many parts of the world and gaining more adoption by the day. In fact, blockchain technology is a wonder of the century.
The needed Change
Having said all these about the blockchain, one can easily recall that one thing that is constant in life is change! Changes are inevitable, especially in this century where things are evolving at a fast pace. It is only those that can up their game and give room for scalability that would be relevant and effective. So, blockchain is not exempted from change. There are things that needed to be scaled up on the blockchain especially in the areas verifiability and privacy.
PlatON
PlatON is a platform that has come with the needed change on the blockchain and help in overall development of the technology to tackle the issue of scalability, verifiability and privacy by using Privacy-preserving Computation and Verifiable Computation.
PlatON will take the blockchain technology to the next pedestal required for operation in this present age and advance the cryptographic usage by offering various services which shall be discussed in greater details in this article. Visit PlatON Website
Privacy-preserving Computation
It is no longer a news that privacy is one of the missing ingredients on the blockchain. The transparency which the blockchain offers has brought about lack of privacy. For instance, when a transaction is carried out on the blockchain. The transaction is made available for the public, that is, the identity of the sender and that of the receiver including every details of the transaction are displayed for all to see.
The truth is that, many of the users don't want their identities displayed or traced to their transactions for so many reasons.
One of the obvious reasons why many users don't want their identities traced is that, some users have been exposed to dangers of robbery and attacks as their transactions are secretly monitored by men of the underworld. Some people's account have been hacked as a result of serious financial transactions people could traced to them and so much more.
Had it been that full privacy is obtained on the blockchain to secure data exchanges, there won't be room for any unnecessary loss. This is where PlatON comes in. That is, to provide cryptographic-based privacy preserving computation to support secure data exchange.
PlatON offers full privacy-preserving computation to support exchange of data on the blockchain which helps to achieve total privacy and secure the identities and stored data. The technology that is engaged by PlatON to carries out this service is called Secure Multi-party Computation (MPC) and Homomorphic Encryption (HE). Through these technologies, the blockchain is securely preserved and absolute privacy is brought to trustless computing.
Read more on the White paper and blue paper
Blockchain with Higher efficiency and consume less power
Power consumption is one of the major challenges facing the the mining of cryptocurrencies on the blockchain. Mining requires a good and constant supply of power with viable internet connection coupled with very expensive mining equipment.
All these requirements have limitated people from engaging in mining of cryptocurrency on the blockchain. But the good news is that, PlatON has come to put an end to this limitations by building blockchain with higher efficiency and consume less power. More so, these blockchains are built by PlatON with lower cost compared to what is obtained currently. Visit PlatON on Telegram
Blockchain Infrastructure
PlatON also offer the service of building blockchain infrastructure and built-in services for distributed commerce and also does the work of consultation to help build blockchain network to be able to carry out designed actions as proposed by the clients who own the blockchains.
PlatON carries out the internal operability of the blockchain which is known as the infrastructure and set the details of the functionality to meet the needs of different use cases as proposed by the owners.
Any individual or organization who wishes to implement the use of blockchain technology can leverage on the consultation of PlatON and can also bank on their ability to help build the blockchain according to desired mode of operation. PlatON is a good platform for Government agencies and institutions to make use of blockchain technology to carry out their operations and enjoy the benefits of the blockchain. Check PlatON on LinkedIn
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