As we all know that the usage of cryptocurrencies continues to expand around the world, several countries have identified themselves as pioneers in adoption.
Well, COVID-19 dominated 2020, and several countries were suppressed by the repercussions of the ongoing pandemic. Conversely, the cryptocurrency space witnessed a year of revival that saw decentralized finance becoming a major element, while Bitcoin (BTC) eventually exceeded its previous record. Singapore has paved the way for cryptocurrency moving and blockchain acceptance in 2021.
Singapore
Singapore has developed as a platform for crypto exchange, companies, and blockchain industries in Asian countries. Let’s understand the way Singapore is utilizing the benefits of adopting blockchain across different verticals.
Aviation Industry
Singapore is recognized to be the first country to start utilizing the value of blockchain in the aviation sector. Blockchain technology can provide access to up-to-date and confirmed information of departures, arrivals, delays across all stakeholders involved in airline travel, like airline crew, employees, ground service crew, and passengers. Singaporean Airlines has transformed its payments and rewards program using blockchain for its digital wallet.
Food Industry
Not only aviation but also the food industry, According to the WHO (World Health Organization) estimates, about 1 in 10 people fall ill each year by eating contaminated food.
The implementation of Blockchain technology for the food sector does provide producers and consumers with more validated information on food supplies, where they originated, and much more. Intellectual Property Intermediary (IPI) in Singapore, developed under the Singapore Ministry of Trade and Industry, is already operating on a blockade.
Implementing blockchain in the global food industry will provide vendors with more knowledge regarding food products, including where or for how long, boosting traceability and growing consumer confidence. The use of blockchain would reduce food contamination while still bolstering health and safety regulations.
Supply Chain
The blockchain-based supply chain facilitates the automated monitoring of information on products such as incorporation data, storage temperatures, batch numbers, and shipment. Looking at recent technologies including RFID tagging, blockchain may be an incredible opportunity for every sector that works to grow transparency and accountability via the business supply chain.
SmartCode, the DLT Ledgers Blockchain platform, offers an end-to-end traceability record in an automatically auditable, immutable, and safe way. It has been designed in such a way each product can be clear about its origin and validity, using precise software algorithms to help mitigate product manipulation.
Education Industry
Another field that can benefit from the use of blockchain is the Education sector. Through using smart contracts, institutions, as well as business owners, can rapidly, safely, and inexpensively verify skills. The use of blockchain will enable students to include complete leverage over their academic education by providing versatile access to data and recommended programs based on past qualifications and rankings.
There is no question that the higher education system in the city-state wants to identify the opportunities delivered by blockchain. Last year, the National University of Singapore (NUS) stated that it is collaborating with IBM to establish a curriculum for blockchain and distributed ledger technology.
It is also the first educational institution in Singapore to use blockchain technology to verify the validity of the NP diploma.
Government
From taxes to welfare transfers, voting, and health record management, the Blockchain administration is now used by global governments to improve different actions. Singapore will soon be following an example like Georgia. It reported that the Singapore government could use blockchain technology to do the following things:
Verify vendor track records on Singapore Government’s one-stop e-procurement portal
Track the career of the public officer
Enhance or substitute the audit process
The Singapore customs authority has introduced a national trading platform (NTP) for blockchain technology. It is expected that this platform will be used to connect enterprises, community networks, channels, and government organizations.
With distributed ledger technology, the program has analyzed inter-bank transfers and is now used to determine the effects of using tokens as a digital Singapore dollar. If blockchain-based payments are successful, they may lead to rapid settlements in finance, notably for cross-border business.
Looking at this it can be well inferred that India too can make endeavors in the field of blockchain.
Being a part of the ongoing pandemic and information age, we all or at least most of us, prefer Work From Home over a traditional office. Whether you’re in your home or a corporate office, or anywhere else for that matter, we all use computers or laptops to make our life more accessible and smoother. Now, talking about the keyboard, it is an essential part of modern tech-based life. Without it, we can’t do much on our computers or laptops and being honest, most of the time when we’re not in a generous mood or when we’re typing a prompt mail or playing games, we use our keyboards like a punching bag and smashes every key of it like we’re a war zone soldier.
Though most keyboards are built to handle such pressures, what will you do if you lose a key or any key stops working? Well, for computers, you’ll have to buy a new keyboard or depend on the on-screen keyboard for that particular key but in the case of laptops, once you lose a key, restoring everything to its original state can be burdensome for some of us.
So, it’s better not to use in-built keyboards all the time, especially when you type for a long span and have a habit of pressing the keys in a vivid manner. Accidents can happen at any time, and to prevent them, we would recommend you to use Wireless keyboards, and if you’re looking for the same, you’re at the right place.
Why Wireless Keyboards?
Wireless keyboards are life-saving when you prefer a neat, decluttered desk or like typing comfortably with your keyboard on your lap. They help you type faster and are ideal for pairing with laptops or even computers at workstations or home. Wireless keyboards are travel-friendly compared to their counterparts and work best not only on your computer/laptop but also on your tablet, your phone, or even your TV. Nowadays, wireless technology is everywhere and has done an impeccable job in the past few years and finding the best one is tricky, and it all depends on how you’re going to use it, for work or a gaming purpose? So, before we hit the list, let’s take a quick look at specs to consider.
A perfect sized keyboard is always going to help you and light up your life. If you travel a lot, then go for a light one and if you’re a gamer, go for a smaller than average keyboard, as you’re not going to use it for typing. If you’re a writer or doing some sort of work related to heavy use of the keyboard, go for a more oversized keyboard to hit the keys comfortably. Look for a keyboard according to your preferred operating system because sometimes special characters matter. Gamers, keep in mind, if you’re an avid gamer, you’re going to need keyboards that connect to multiple devices with the press of a single button and a customizable option for RGB lighting or at least backlighting.
Logitech MX Keys
Price – ₹12,995/-
Logitech MX Keys is one of the best wireless keyboards out there for iMac users. It offers the best typing experience with its full-size structure, and it features a built-in number pad and backlit keys to equip you with a great user experience and maximum productivity. The low-profile keyboard could be your perfect office companion. Its wireless connectivity empowers you to pair a total of three devices over Bluetooth or its USB dongle, and you can easily switch between these three connected devices.
The typing experience is smooth, and people sitting next to you can’t complain about losing concentration over a keyboard noise. The keyboard has a rechargeable battery, and it offers an impeccable 10 days of power backup. So, if you’re looking for a keyboard with a great blend of comfort and features that provide a versatile typing experience along with a premium price and durable build and have enough space on your desk, we recommend Logitech MX Keys for you.
Microsoft Sculpt Ergonomic Keyboard
Price – ₹14,999/-
Are you one of those who type for long hours, are tired of repetitive strain injuries, and looking for a comfortable keyboard to avoid arm, wrist, or shoulder pain? In that case, you should definitely try ergonomically designed keyboards such as Microsoft’s Sculpt wireless ergonomic keyboard that offers a pain-free experience and even take care of your bad posture. The keyboard offers a split layout and design and a nicely cushioned palm rest to keep you in an ideal typing position and avoid additional pressure on the wrists.
The keyboard is split in half and offers a separate number pad, making it significantly different from its equivalents. The affordable ergonomic keyboard connects via a 2.4 GHz wireless USB dongle and requires two AAA batteries to work, which seems a little outdated. However, this ergonomic keyboard by Microsoft will surely help you recover lousy posture, but only if you stay put with it during those initial days.
Logitech K380 Bluetooth Keyboard
Price – ₹3,195/-
Logitech has a rich history of creating excellent computer accessories, and the name Logitech will often pop up when you’re looking for computer accessories, especially keyboard and mouse. The comfortable and compact Logitech K380 Bluetooth Keyboard is one of the best budget-friendly keyboards out there in the market, which offers great design and compelling battery backup of up to 2 years with its AAA batteries.
The keyboard arrives with round-shaped keys, and it takes a while to adapt to it; and it also lacks a backlighting feature and macro programmable keys. The smart-looking keyboard could be paired up with three devices via Bluetooth (it doesn’t come with a USB dongle), and one can easily toggle between the devices such as smartphones, tablets, Apple TV, and most computers using the F1-F3 hotkeys. The tiny and well-built wireless Bluetooth keyboard is offered in three colours: dark grey, rose, and off-white.
Apple Magic Keyboard With Numeric Keypad
Price – ₹12,500/-
Apple Magic Keyboard with Numeric Keypad, the name itself suggests it has something magical in it, and we can’t deny the fact because it’s a fact. The aesthetically designed Apple Magic Keyboard will undoubtedly add a slight tint to your modern office, and if you’re a follower of a minimalist lifestyle, it’s clearly the best buy for you. The Magic Keyboard sports light and bouncy keys to satisfy your typing experience.
Previously, it was available without a number pad and only bundled with Apple’s 5K iMac Pro, but now it is available in full size with Numeric Keypad, and the company even sells it separately. The flat designed Apple Magic Keyboard is ideal for gaming, reading or working with spreadsheets as it offers an impressive battery life of one month, on a full charge. The ultra-sleek space-grey keyboard offers keys based on a scissor mechanism to enhance your typing experience, but unfortunately, it is only compatible with Apple products.
Corsair K63 Wireless Mechanical Gaming Keyboard
Price – ₹15,999/-
Corsair is one of the few companies that manufacture a wireless alternative of its popular gaming keyboards, and their latest addition, a refresh of the old Corsair Gaming Lapdog but slimmer and wireless, Corsair K63 Wireless Mechanical Gaming Keyboard, is an exceptional one. The new K63 Mechanical Gaming Keyboard is almost similar to its wired sibling, and if you’re familiar with Corsair keyboards in the past, then while using this one, you’ll feel super comfortable as the keyboard is specially made for people who prefer to operate from the comfort of the couch. The K63 keyboard has a frameless and straightforward design, and users can pair the keyboard with either a wireless USB receiver or Bluetooth. The keyboard features dedicated media controls, linear Cherry MX Red switches, excellent compatibility with various operating systems, but at the same time, it lacks backlighting as it is limited to a single blue colour. However, the K63 wireless keyboard is still a good option for gaming and also for work too.
The emphasis placed on the terms of “token” and “account” used by the cryptocurrency community and central banking community as mentioned above aims to capture the different ways in which these terms are used by different people about different concepts. Recognition of these terms can help identify areas of misalignment and create problems in the legal framework and supervisory system of digital currencies and so-called tokenized financial markets.
The term is part of an industry phenomenon known as tokenization, which transforms real assets into digital tokens. Security brands have been under discussion for some time, and at least one company wants to put them to the test. In the case of securities tokens, trading assets such as stocks and fixed-income securities are converted into digital assets using blockchain technology, the virtual book of activities that consists of cryptocurrencies such as Bitcoin.
Are security tokens a novel form of assets?
securities tokens and tokenized securities are often mixed up in the new age of blockchain, but it is imperative to understand them not as separate concepts, but about each other. Security brands, in particular, are a form of digital assets that, like cryptocurrencies, act as a value transfer tool while maintaining regulatory protection for traditional securities. Security marks are programmable crypto assets that enjoy the regulatory protection associated with traditional securities. Tokenised securities function in the same way as traditional off-chain securities, except that they are stored and sold on an exchange or blockchain network. Simply put, tokenized securities are digital representations of traditional securities to expand their market reach and increase market liquidity.
Are tokens different from coins?
Blockchain tokens are valuable but are not considered money like crypto coins. Many crypto projects issue their tokens as a representation of an asset or as use-value. They give these tokens to their investors through public sales called ICO (Initial Coin Offering).
Blockchains allow tokens to be used in the community to vote on important business decisions or technical changes to the platform, giving them more functionality than traditional crypto coins. When we talk about tokens and cryptocurrencies, we should not associate the value of these tokens with public systems, such as Ethereum, which wants to introduce new smart contracts defined by tokens without explicit use or transaction value. For this purpose, the creation of tokens can be used to detect the difference between security tokens and tokens. Security marks are created for investment, while utility marks can be created to finance an ICO or create an internal economy on a project as a blockchain. An ICO (or OST offer) is made to sell digital tokens to the general public on a cryptocurrency exchange. The main difference that stands out is the fact that ICO tokens are offered as actual coins, which are digital and classified by utility value. With an ICO token, a new ICO currency is generated ad infinitum. An ICOs value is speculative and results from the perceived utility value that the buyer expects from him.
A better balance can be found in securities brands that are digital, liquid contracts for a fraction of an asset (e.g. A house, a car, a paint job, a company’s equity, etc.). Security brands are a natural bridge between the traditional financial sector and blockchain and benefit from both. The securities token ideas, which are based on partial ownership of real assets, are well structured, meaning that investors can expect their ownership share to remain on the blockchain register.
Although tokenized assets are a promising use case for blockchain technology, there are still some major regulatory hurdles. It is unclear whether ownership of blockchain-linked tokens remains unclear, and the terms may not have legal status.
A boom of startups
A few years ago, innovations in financial markets began to spark discussions about digital tokens and the tokenization of financial assets. Initial coin offerings (ICOs) played an important role in arousing interest in the cryptocurrency market. Startups in the cryptocurrency market produce coins or tokens that are offered to investors by an initial coin offering (ICO) in exchange for legal money or digital currency. Start-ups sell their shares to investors in an initial public offering. While IPOs trade directly with investors, ICOs trade through crowdfunding with eager supporters of their projects.
Old age is an unavoidable part of our life cycle and should be lived gracefully rather than grudgingly. In today’s fast-paced world we only start noticing signs of old age much after the gradual process is well underway…We need technology that will improve the lives of elderlies, the poor as well as the sick, and their families. We need technology that brings all of them together for better companionship and to make this world a beautiful place for them to live in.
Blockchain depends on stakeholder acceptance, and government agencies can use economic incentives to get users on board, such as granting access to certain government data, paying for it, facilitating federal loans, or lowering transaction and service fees. Agencies that implement blockchain can increase citizens “trust and create added value for the government and its citizens. As blockchain follows the path inherited in the economy by network technologies we can expect blockchain innovation to build on one-way applications to create local private networks in which multiple organizations are linked through a distributed register.
Blockchains can help streamline the entire process by eliminating middlemen, lengthy procedures, and the burden of unnecessary time delays. Blockchains record transactions while payments are transferred between recipients. Transactions cannot be reversed or modified, and blockchains ensure better accountability and security when such a system is used. Intelligent and self-executing contracts made possible by blockchain eliminate the need for intermediaries and improve contract preparation and execution.
How Will Blockchain Solve Privacy Problems?
To address this problem, relevant research applications from Azaria Ekblaw, Vieira and Lippman (2016), Juneja and Marefat (2018), Liu, Li, Ye, Zhang, Du and Guizani (2018), and Zheng, Mukkamala, Vatrapu and Ordiere (2019) used the on-chain storage architecture to store large amounts of original encrypted data without the use of trusted third parties. This approach reduces the storage load of the blockchain and ensures the integrity and privacy of private data. When medical records and other information are stored in the blockchain network, this increases the computing effort and storage load due to the fixed and limited size of the block.
Blockchain technology can reduce the complexities of retirement management and give pensioners greater control over their money. By adding cryptocurrencies to investment portfolios, blockchain can create accessible retirement plans that appeal to young people who need to start saving for retirement.
Why do Blockchain technology and the health sector jell?
Blockchain technology can maximize patient satisfaction by providing personalized care based on the patient’s complete indexed medical history and medical record. Blockchain Technology helps diabetics keep better track of their insulin intake. In the EHR system, anyone can upload medical records and other information to the blockchain. Users can leave and re-enter the system at any time, access their historical records according to the index, and download the latest blocks from the blockchains.
The use of blockchain technology in the medical field is not only a consolidated application of real blockchain technology but also blockchain technology with achievable efficiency levels. The use of this technology in neurology could lead to quantifiable advantages in the treatment of neurological disorders by monitoring patient health, clinical history, treatment, disease progression monitoring, recruitment, and clinical trials.
How Blockchain Technology Will Solve Financial Problems For The Elderly
Blockchain, the revolutionary computerized recording technology that acts as a digital register, is coming at a crucial time and could be a savior for pensions, thanks to the unique way it can be applied to ambitious projects in young industries. Blockchain or distributed ledger is an emerging technology that has attracted considerable interest from utilities, startups, technology developers, financial institutions, the national governments, and the academic community. Numerous sources from all these sources have found that blockchain has the potential to bring significant benefits and innovation.
While the core features of decentralization, security, origin, transparency, trust, and better management of data offer clear benefits in addressing acute health needs, a blockchain technology approach is needed to ensure that it is compatible with specific and diverse healthcare challenges. This forum article aims to address this problem by presenting an appropriate framework for the Health Blockchain which includes fundamental questions regarding fundamental blockchain design principles, data exchange, management, decision-making, and governance, examines how the technology can be used to improve blockchain functionality and defines the ultimate goals of blockchain solutions. conclusion
Nothing is denying the fact that we can solve problems relating to the practical application of the technology, such as security and the lack of public or specialist knowledge that can guarantee the optimal functioning of blockchain protocols and bring maximum benefit to senior citizens.
We have covered How Big is Sony, Netflix, Walmart and Nike? in the past few months, and so far, we’ve experienced a pleasant ride. Then, one fine day we thought, let’s do something different this time as all of the companies we have covered till now have been situated in foreign lands, and this simple thought provoked us to shift our focus from foreign companies to our Indian giants. The search began, and we started looking for Indian companies that contributed remarkably to our country’s growth, and at the end of the day, we mutually decided to go with Wipro, India’s third-largest outsourcer of IT services.
How was Wipro started?
Wipro is a widespread name in Indian households as the majority of Indians prefer to use electrical products and an energy-efficient range of LED lighting solutions manufactured by Wipro, but many of us aren’t even aware of the now popular multinational corporation that provides information technology, consulting and business process services was initially started as a maker of vegetable and refined oils in Amalner, Maharashtra. Though you can always ask your grandparents, they might be aware of the trade names of Kisan, Sunflower, Dalda Ghee, and Camel, popular products of the company during their early days.
The company was founded in 1945 as Western Indian Vegetable Products Ltd. by Mr Mohamed Premji, and later on, it was inherited by his then 21-year old son, Azim Premji. In 1966, the latter was pursuing electrical engineering at Stanford University in the United States, but due to his father’s sudden demise, he returned to India and became the company’s chairperson at the bare age of 21. Mr Azim Premji officially renamed the company to Wipro Products Limited in 1977, when he took over the family-owned business and expanded the company’s product line to include hydraulic cylinders, bakery fats, toiletries, soaps, and lighting products.
How Wipro entered into the IT sector and expanded its other ventures?
The chairperson of Wipro Products Limited, Mr Azim Premji, was a visionary man and always wanted to do something in the IT and computing industry, and when the opportunity knocked at the door, he tucked it in. Wipro gradually started entering into the IT business in the late ’70s, and at that time, IBM India was at its pinnacle and was the biggest competitor for newbie Wipro. Many business groups in the country called Wipro’s move a foolish one but to the company’s luck and the arrival of a new government with fresh foreign exchange rules, in 1978, IBM India shut its operations and withdrew its services from the country, which helped Wipro advance its services in the field and ripe the opportunity.
Wipro commenced its IT sector journey by producing microcomputers under a technology-sharing agreement with US-based Sentinel Computer Corporation, and within a decade, it became the first Indian company to explore offshore IT services. In between this, Wipro once again updated its name from Wipro Products Limited to Wipro Limited in 1982, added mobile hydraulic cylinders and heavy-duty industrial cylinders to its line of products in 1988, formed a joint venture called Wipro GE Medical Systems with the United States’ General Electric (GE) for the manufacture, sales, and service of diagnostic and imaging products and started making one Santoor talcum powder and Wipro Baby Soft, a range of baby toiletries in 1990.
Further Growth & Collaborations
The economic liberalisation in India during the early ’90s led to an increase in foreign investment and high economic growth. The movement helped our country grow its Gross Domestic Product (GDP) from $266 billion in 1991 to $3.3 trillion in 2021. Thanks to economic liberalisation, Wipro further expanded into manufacturing lamps, oil-based natural ingredients, beauty care products, medical and diagnostic equipment, and IT hardware products such as printers and scanners.
In 1999, Wipro became the only Indian computer manufacturer to obtain the complete Y2K compliant certification from the United States’ National Software Testing Laboratory. In the next couple of years, Wipro continued to perform strongly, with IT remaining its core industry. They also collaborated with Acer to produce personal computers for the Indian market and soon arose as one of India’s largest software exporters and the second-largest listed company in the country.
Azim Premji, chairman of Wipro, who’s informally known as the Czar of the Indian IT Industry, is currently the 13th richest Indian, but from 1998 to 2003, he stayed as the richest Indian. Wipro enjoyed a tremendous level of prosperity throughout the late ’90s and early 2000s. They started internet service in India by partnering with KPN (Royal Dutch telecom) to form a joint venture company, Wipro Net Limited and also opened a Business Process Outsourcing (BPO) unit in 2002. In the five years where Azim Premji stayed on the top position of richest Indian, Wipro performed historically on the Indian stock exchanges. In the following years, Wipro also became one of the first software companies to get SEI (Software Engineering Institute) Level 5 certification.
Wipro Acquisitions
Currently, Wipro is headquartered in Bengaluru and is known for its array of services such as IT sector, BPO services, cognitive computing, robotics, hyper-automation, testing, research and development in the software and hardware areas of companies around the world. The Indian multinational corporation Wipro was ranked 1st in the 2010 Asian Sustainability Rating (ASR) of Indian companies. The company even offers its services to several enterprises like Finance, Utilities, Energy and Entertainment. Under Azim Premji’s bold leadership, Wipro tasted more success rather than failures and emerged dramatically as one of the leading IT companies not only in India but all over the globe.
Wipro acquired more than 15 companies till now and has spent over $2.5 billion on acquisitions. Wipro acquired Chandrika, an ayurvedic and herbal soap brand in 2004, Northwest Switches and Sweden-based Hydrauto Group AB in 2006 for Rs. 102.2 crore and Rs. 142.6 crore, Infocrossing in August 2007 for Rs. 2,430 crores, Singapore-based Unza Holdings Ltd. in 2007 for Rs. 1,010 crores, the personal care brand Yardley from the Lornamead Group in 2009, Appirio, an information technology consulting company for Rs 3,300 crore in 2016, Florida-based HealthPlan Services for $460 (over Rs. 3100 crores) million in 2016 and tied up with Israel Aerospace Industries to manufacture composite aerostructure parts and assemblies in 2017.
Top 5 Wipro Subsidiaries
Wipro Infrastructure Engineering
Wipro Infrastructure Engineering was established in 1976 as a part of Wipro, and it is one of the principal subsidiaries of Wipro. It is the hydraulics business section of the company and has been into manufacturing hydraulic cylinders, cargo handling, mining, freight, truck cylinders, and their components. The subsidiary has delivered over a million cylinders to original equipment manufacturers across the globe. The division also launched specific solutions during the pandemic to fight against Covid 19.
Wipro Consumer Care & Lighting
Wipro Consumer Care and Lighting (WCCLG) was established as a division of Wipro in 1945 to cater for the fast-moving consumer goods (FMCG) segment dealing personal care, home care, lighting and furniture products. The first manufactured product by the subsidiary was Sunflower Vanaspati oil. The firm has ventured into selling personal care products like Santoor, Chandrika, Aramusk, Wipro Baby Soft ranges and Yardley, along with lighting products like Smartlite CFL and LED lights. The division is one of the fastest-growing in Asia, and Africa, with more than 75 crores sales revenue in 2019-20.
Yardley
Yardley or Yardley of London is a British personal care brand established by the Cleaver family in 1770. The brand is specialized in cosmetics, fragrances and relevant toiletry products. It is one of the oldest firms globally and one of the biggest manufacturers of soap and perfumes. Wipro consumer care brought Yardley in 2009 except for businesses in Germany and Austria, where it is still owned by Lornamead, a part of Hong Kong’s Fung Group.
Opus Capital Markets Consultants
Headquartered in Lincolnshire in Illinois, United States, Opus is one of the top companies in the financial services industry, and since 2013, it has been owned by Wipro. Opus Capital Markets Consultants offers multiple services like Residential & commercial mortgage, Compliances services, servicing reviews, advisory services, quality control, servicing oversight and operational assessment. Recently, it has been fully integrated with Wipro and renamed as Wipro Opus Risk Solutions LLC.
Topcoder & Appirio
Topcoder is a crowdsourcing company that pays community members for their projects and sells community services to corporate, mid-size, and small-business clients. The company was founded by Jack Hughes in the year 2001, and its name was formerly spelt as “TopCoder” until 2013. Wipro acquired Topcoder in 2016 along with Appirio, an information technology consulting company founded by Chris Barbin, Narinder Singh, Glenn Weinstein and Mike O Brien. Appirio competes with Accenture and Deloitte in the business by offering SaaS services such as Salesforce and Google apps.
Logo Evolution
Wipro introduced its first logo in 1998; the logo features a very detailed sunflower diagonally coloured into 7 colours of the rainbow, placed above the sleek and stylized wordmark with a tagline, “Applying Thought,” and enclosed into a thin blue circular structure. Later on, after two decades, in 2017, the company revamped its old logo with a new logo, comprising of dots that represent the way the company ‘connects the dots’ for its clients. Wipro removed the colourful sunflower and changed the wordmark from the capitalized inscription to a lowercase one. The new logo features four different sized circles formed by dots representing growth and progress.
Valuation
Wipro is headquartered in Bangalore, Karnataka, India, operates across all six continents and is ranked the 9th largest employer in India, with over 200,000 employees. As of September 2021, Wipro is the world’s 374th most valuable company, with a market cap of $51.00 Billion.
Philanthropy
Of course, Mr Azim Premji will be remembered for transforming Wipro from a vegetable oil seller to a software giant, but along with this, people will remember him for his big heart. Mr Azim Premji is the first Indian and only third non-American who signed The Giving Pledge, started by Bill Gates and Warren Buffet, to donate the majority of their wealth to charitable causes. He has donated $21 billion of his wealth as part of the pledge. Apart from this pledge, he has pledged 39% of Wipro shares for philanthropic activities and has also donated an amount of $2 billion to improve education in India.
Due to its memory intensity, it is seen as a solution to mitigate custom hardware such as ASICs and FPGAs, which are the main sources of centralization in cryptocurrency mining. ASIC’s resistance can hamper ASIC’s mining machines, and it has been seen as an effective alternative to Bitcoin’s SHA-256 hashing algorithm.
It is more complex than SHA-256 and requires more storage for miners, but is more efficient at solving problems. SHA-256 and Scrypt are the two common algorithms and systems used by cryptocurrency miners to verify transaction data blocks. The Scrypt algorithm differs from Sha-256 in that it requires not only pure computing power but also system memory for operation.
For newer cryptocurrencies, I prefer Scrypt to SHA-256 because it is more convenient to use. It is more comfortable to run on available CPUs and requires less power than SHA-256. The Sha-256 hash rate of Scrypt Mined Coins ranges from Kh / s to MH / s (its hash rate is achieved by a single miner with ASIC or additional hardware).
Scrypt is a hash function used in the Litecoin cryptocurrency as an alternative to the SHA-256 hash function. It provides a higher level of security and is one of the safest hash functions. Unlike SHA-256, Scrypt is the most widely used mining algorithm in Litecoin and the Bitcoin protocol.
While other hashing algorithms such as Equihash and CryptoNight for proof-of-work blockchains were developed, Scrypt was developed for use cases that implement blockchain networks. Scrypt is an attempt to improve the hashing algorithm of the SHA-256 algorithm. It is designed as an in-memory hardware algorithm to improve network security against attacks with custom hardware.
Scrypt was developed as a solution to mitigate the increasing dominance of ASIC mining platforms and the subsequent centralization of cryptocurrency mining. Bitcoin was in its infancy at the time, not to mention that Scrypt could be used on any blockchain network that supported cryptocurrencies. In the paper, Percival proposed the scrypt algorithm for Tarsnap, an online backup service.
Consequently, cryptocurrency projects using Scrypt sought to protect the decentralization of their networks. Bitcoin was originally mined with CPUs, GPUs, and FPGAs, but miners began to develop their ASIC chips that were more powerful than previous solutions. In 2013, the first ASICs with Scrypt was introduced, and this type of hardware began to support cryptocurrency mining based on Scrypt.
If your system requires at least 40 zeros to validate a transaction, the miner will have to calculate 2-40 different hash values to find the correct proof of work. As the hash rate increases, so do the difficulty of maintaining the balance.
Scrypt is an encryption method that requires a large storage volume and a lot of time for selection. Scrypt functions are intended to prevent such attempts to increase the resource requirements of the algorithm. The scrypt algorithm is implemented in cryptocurrency mining to make it more complicated for specialized ASIC miners.
It has generated negative feedback from the creators of cryptocurrencies, as it gives miners with large resources advantage and violates decentralization. Scrypt coins enjoy popularity because miners use processors (CPU) and graphics cards (GPU) for mining. The scrypt Bitcoin cryptocurrency and other currencies using the scrypt algorithm are mined using ASIC devices specifically designed to solve the mining task.
An example of this is Vertcoin, which uses the Scrypt algorithm and makes it possible to change the hashing algorithm at any time. The hashing algorithms Scrypt Jane and X11 are trying to resist ASICs. By developing ASICs for Scrypt N-based coins, the hash algorithm can be modified to render ASICs useless and do not influence the relative hash rate of the GPU or CPU miner.
While these new types of hashing algorithms may be able to ward off ASICs, one thing is sure: GPU mining is not dead and never will die.
When the scrypt hashing feature was first implemented in Litecoin, the development team avoided knowing that application-specific integrated circuits (ASICs) would be able to break down the Litecoin blockchain. While Bitcoin ASICs are 1000x more efficient than GPUs, Scrypt ASICs can be up to 100x more efficient.
Due to the coin’s scrypt algorithm, this means that scrypt coin mining requires a large number of participants in the network and all must be involved in the work. Miners who use devices other than ASICs to mine the cryptocurrency will be penalized.
Before selecting a cryptocurrency to use its scrypt algorithm, it is important to know how to mine it. Scrypt was first implemented in Tenebrix, which was released in September 2011 and served Litecoin and Dogecoin as the basis for the introduction of the algorithm. Before we look at Scrypt coins, here is a brief overview of the Scrypt mining algorithm.
Scrypt was implemented in blockchain networks when it was introduced to improve SHA-256. The first cryptocurrency to implement the Scrypt PoW hash algorithm was Tenebrix (TBX), which was released in September 2011.
Scrypt (pronounced S-crypt) [1] in cryptography is a password-based key derivation feature developed by Colin Percival for Tarsnap, an online backup service. A simplified version of Scrypt is used as the proof-of-work scheme in several cryptocurrencies including Bitcoin, then implemented by an anonymous programmer named Artforz Tenebrix and Fairbrix and Litecoin. The UNOT algorithm is a hash function known as a scrypt in the world of cryptocurrencies.
Scrypt works thanks to a well-known method of increasing the derivation of keys, which is a hard sequential storage function. It is a hash that uses a key (a set of key points identified by a hash algorithm) that causes a lot of noise. Noise in Scrypt is a set of random numbers generated by the hash algorithm and stored in memory.
The purpose of the series of random numbers generated and stored in memory by the algorithm is to camouflage the key data from the algorithm and make breaking the hash more complex. The password-based key derived function ( password-based KDF) is designed to be computationally intensive so that the calculation takes a long time, roughly in the order of several hundred milliseconds.
Virtual Reality (VR) has opened up new learning surroundings and involved so much in just a few years that it is no longer a new name to most of us. We’ve witnessed a number of VR headset launches in the last few years; from high-end consumer devices to affordable ones, the market of VR headsets have come a long way, and if you’re looking for a few of the best VR headset options in the market, then here’s a list of top 5 VR headsets to make your search simpler.
Oculus Quest 2
The Oculus is the big name in the world of VR’s and its latest VR, Quest 2, is unquestionably one of the best VR headsets in the market. The compact, comfortable, and powerful Quest 2 is the most advanced all-in-one VR system yet by the Facebook-owned company Oculus. The new Quest is the successor to the Oculus’ 2019 Quest, and it is only the third wire-free standalone headset from the company, after the Oculus Go and the Oculus Quest. The sleek Quest 2 looks decent, be it on the desk or your head and features a standalone signature Quest design. The Quest 2 is a bit smaller and 10% lighter than its predecessor.
Oculus is popularly known for making all-black flagship devices, but the Quest 2 has a pure white plastic chassis and a black foam eye mask behind it, making it appear more stylish. The VR headset features four camera sensors, all mounted along its edge. On the right side, it has a power button and its volume rockers rest on the underside, along with two pinhole microphones. The left side holds a USB-C port and a 3.5mm headphone jack for charging and audio. The headset features 6GB of memory instead of 4GB, and its base model offers 64GB of storage.
The Oculus Quest 2 is powered by Qualcomm’s Snapdragon XR2 chipset and offers a battery life of two and 2.5 hours for a gaming session. The VR headset has everything you need right in one device, and once you are done with the setup, you’re good to go. The VR headset arrives with two newly designed motion controllers that feel as good as ever and offer a screen resolution of 1832 x 1920 pixels per eye instead of the Quest’s 1440 x 1600. The new Quest VR is one of the lowest-priced VR headsets in the market, but overall you won’t be disappointed by the performance of Oculus Quest 2.
HTC Vive Pro 2
If you’re looking for the best VR headset in the current market and you’re not a gamer, then HTC Vive Pro 2 can be your best companion. The first HTC Vive VR headset was launched five years ago, and it was way ahead of its time, but the company failed to dominate the market even after a great head start. HTC Vive Pro 2 is aimed to fulfil needs like killer visuals, accurate possible tracking and comfortable wearing for a long time, in short, it is more inclined towards professionals. The VR headset features high-res visuals and 120Hz detailed and crisp 5K displays for smooth frame rates.
The Vive Pro 2 appears and feels very identical to its predecessor but in the darker spirit, but once you mount it on your head, you’ll quickly realise the difference. The head-mounted display of HTC Vive Pro 2 helps you rotate the headset backwards without completely removing it, which eventually works best for answering a quick phone call, checking the time, seeing who’s staring at you while you’re occupied in the VR world and, of course, having a quick check of the real world. The headset offers an excellent top strap and rear tightening knob to keep your headset stable on your head.
The 5K lenses of the HTC Vive Pro 2 offer a 120° horizontal field of view to make you feel more like a real-world appearance. Its view angles are sharper and more detailed than its rival Oculus Quest 2, making Vive Pro 2 stand tall. The VR headset requires a robust system with at least an RTX 2060 or AMD Radeon RX 5700 to work best in every way, especially when you’re eying on 120 HZ or higher resolutions. The headset offers a two-month subscription to HTC’s own VR software store, Viveport Infinity, granting unlimited access to a wide selection of VR games and experiences.
Sony PlayStation VR
Sony recently launched its PlayStation VR (or PSVR) headsets to bring a more advanced and immersive Virtual Reality experience into their PlayStation 4 and PlayStation Pro consoles. The Japanese multinational conglomerate has thoughtfully launched its VR a few weeks before the holiday season to get more attention from consumers. The PSVR was first released in 2016 under a code name ‘Project Morpheus’, and since then, it has become popular among VR newcomers as it is one of the most affordable VR’s in the market.
PlayStation VR offers a massive library of experimental and action-packed titles that are exclusive to PSVR. The headset is uniquely designed and quite comfortable compared to its rivals, but it lingers a little behind the more expensive PC-powered HTC Vive and Oculus Rift in terms of specs. The Sony VR headset is a little heavier device (weighs about 600 grams) and has a single solid headband that rests around the back of your head. Currently, PSVR is the best-selling high-end VR headset globally, and it has turned into a game-changing piece of hardware in a short while.
The company has recently launched Hitman 3 for their VR and has brought big-budget games like Resident Evil 7, No Man’s Sky, and Skyrim to stay ahead in the race. The PSVR offers immersive gaming quality and comes with more than 21.9 million VR games and apps. The PSVR, of course, has its drawbacks, but at the same time, it is enjoyable too. Unfortunately, the company doesn’t trade PlayStation VR as a sole product; instead, they offer the VR headset either along with PS VR with a PlayStation Camera or a PS VR with a PlayStation Camera and two Move controllers. Whatever the company bundles up, if you look at the cost, the headset remains the most affordable in the market.
Valve Index VR Kit
The list of Top 5 VR headsets can’t be completed without adding the best VR headset for gamers, and the time has come to take a quick look at it. Valve Index VR Kit is the next-generation VR headset and the first to be entirely manufactured by the American video game developer, Valve. The company offers an Index headset, Valve’s finger tracking controllers and two SteamVR base stations at a magnificent price of over one lakh rupees, making it one of the most expensive PC-tethered VR systems worldwide, but at the same time, the Steam VR platform on which the headset runs is still inconsistent, making it not so suitable as a troubleshooter.
The Valve Index VR headset features an eye-watering 144Hz refresh rate and a massive 130-degree field of view, offering you one of the best visual experiences of your life. Being a SteamVR product, it demands placing two sensors at different corners of your room. The headset is a bit heavier than the Rift S, but the strap provides adequate support around your head. Speaking of comfort, the finger tracking controllers of Valve Index have a convenient strap that locks them onto your hands, helping you have an exceptionally well hold. The strap material of padding is extra soft and makes sure you stay comfortable even after a long gaming session.
The Index has built-in near-field speakers, which offer outstanding three-dimensional surround sound and are very useful if you like to stay in the VR world for an extended period. They help you to have an incredible audio experience along with a more spatialised audio environment. The Valve Index VR headset features an unimaginable industry-leading tracking with fixed lasers clearing 100 times per second to track your movements. The hardware requirements for the Valve Index headset is relatively light, it can work well even with an Nvidia GeForce GTX 970 or AMD Radeon RX 480 GPU though the company recommends a quad-core CPU and Nvidia GeForce GTX 1070 or better GPU for better execution.
HP Reverb G2
HP Reverb G2 is one of the top VR headsets that offer high resolution at an affordable price, making it one of the best VR headsets for newcomers. The Reverb G2 looks very much like a mixture of an HTC Vive and an Oculus Rift. The headset has been developed in collaboration with Valve, and that’s why it features Valve’s unique near-field speakers that produce high-quality sound. The Reverb G2 headset also features a 90Hz refresh rate, an ultra-high-resolution sharp screen offering 2,160 by 2,160 pixels per eye, and a 114-degree field of view.
The VR headset comes out of the box with luxurious cushioning throughout the eyepiece and rear strap, making it a more comfortable device. The Reverb G2 is the first Windows Mixed Reality headset with four tracking sensors helping it to ensure more accurate VR tracking. It also helps when you’re playing fast-paced games where your hands are all over the place. When it comes to visual performance, the Reverb G2 shines bright like a sun.
The Reverb G2 is a lightweight VR headset that offers comfort and convenience at its best. The plastic finish looks cheap, but it is finely crafted and has thick foam padding encompassing the lenses and headband. Underneath, you’ll find a slider while on the front and sides, four cameras are fitted to track the movement. The Reverb G2 is a wired Vr headset, and that’s why it doesn’t have as much freedom as wireless offerings, like Oculus Quest 2, but you can manage your play with a 6-metre straight long wire.
One of the biggest news of this year has to be Facebook changing its name. Since the company’s launch in 2004, Facebook has changed the way people interact on the Internet and connected people through all walks of life. It also purchased other social media giants such as Instagram and Whatsapp and further invested and broadened its reach in a digital wallet and Virtual Reality Systems.
What is The New Name?
Facebook has changed its corporate name to ‘Meta’ as part of a major rebrand. The name, however, does not apply to its social media platforms like the Facebook app, Instagram, and Whatsapp, but only the parent company. It has also adopted a new logo that looks like infinity.
Mark Zuckerberg, Facebook’s CEO, announced the new name as he unveiled plans to build a ‘metaverse’. We will talk about the Metaverse part in the latter part of the article.
Imagine telling people you are on Meta. They will be alarmed if you are on some sort of drug. They might even ask you to consider rehabilitation. Here’s the funny part, with all the legal abuses that Facebook has had under its belt, it should actually consider a rehab….there I said it.
Why The New Name?
In a 75-minute online presentation, Mark Zuckerberg urged users to adjust their thinking about the company since he had outgrown its problematic social media network.
The company has had multiple hits on its reputation. The move to change the name comes after multiple allegations over privately and meticulously tracking real-world harms aggravated by its platform, ignored warnings about the risk of their design decisions, and exposed vulnerable communities worldwide to a set of dangerous and harmful content.
The Washington Post also reported that internal documents leak suggested that Facebook hid facts and critical information of the vaccine during the Covid outbreak. The company also sat on research that found Instagram as a leading cause of harming the mental health of teenagers and its inability to remove hate speech from its platform.
It’s like Rakesh committed all the crimes in the world, and when his secret was unveiled in front of the world, he announced that he would be called Mahesh from now onwards. Imagine someone confronting Mahesh for his heinous deeds, and he goes like… Nah bro, that was Rakesh.
However, these are the speculations and possibilities on why Facebook made this sudden move of rebranding its company. According to Zuckerberg, it is done because Facebook wants to create a Metaverse and that the company has grown above being just a social networking platform.
What is Metaverse?
Some are considering it as the future of the Internet. But what exactly is a Metaverse?
A few years back, did it ever cross your mind that a thing called Virtual Reality could allow you to experience games and movies in a way that was happening right in front of your eyes? A metaverse is just an enhanced version of this virtual reality.
You could use a headset to enter a virtual world connecting all sorts of digital environments. This virtual world could be used for practically anything- work, play, concerts, movie theatres, or just hanging out. It is like a universe in itself that is quite vacant but ships everyone virtually. You could have a 3D avatar – a representation of yourself – as you use it.
Quite exciting and scary. Isn’t it? Am I seeing a future where everyone has lost a sense of reality and is as good as their Internet connection? I don’t know. This is just an idea of this whole thing and contains no agreed definition of Metaverse.
Companies Changing Names
Interestingly, Philip Morris Co. Inc., makers of cigarette brands like Marlboro and Chesterfield, changed its name to the anodyne Altria Group to avoid press nightmares. The company was accused of rising tobacco-related deaths. Instead of making customers forget about Philip Morris, Altria’s new name just reminded them that the company wanted to avoid being blamed for the adverse health effects caused by its tobacco products.
ValuJet couldn’t shake the bad reputation it got after flight 592 crashed in the Everglades in 1996. All 110 passengers died in the horrific incident. An investigation revealed SabreTech, the airline’s maintenance contractor, was responsible for the accident due to unsafe cargo conditions. ValuJet merged with AirTran in 1997, giving up its name in the process.
In 2015, Google decided that it would change its name to Alphabet. The reasons provided had mainly to do with clarity for investors. Google’s more controversial projects, such as its efforts to expand its reach with accident-prone drones and sensitive health care technology, no longer have Google’s name on them. They’re now owned by Alphabet, an innocent-sounding company you’ve probably never heard of. If you pick up a random stranger on the streets and ask him what Alphabet is, you will likely receive all sorts of naive and dumb answers.
Conclusion
The thing is, Facebook is not the first company that opted for rebranding after it was covered in a blanket of controversies. This has been done for ages, and sometimes it works, and other times it fails to save the image of the associated company. Only time will tell what lies ahead for Facebook, um, I mean Meta.
Within a few years, cryptocurrencies have evolved from a digital novelty to a trillion-dollar technology with the potential to disrupt the global financial system. At its highest point in January 2018, the total market capitalization of cryptocurrencies exceeded $800B, according to the coin market cap, and the Bitcoin price peaked at $20,000 in December 2017. Ether, the main coin of blockchain network Ethereum, broke through the $2,000 mark at one point before falling back.
Bitcoin and hundreds of other cryptocurrencies can be held as investments, but they can also be used to purchase software, real estate, and even illegal drugs. The price of Bitcoin and other cryptocurrencies fluctuates widely and experts say that this limits their usefulness as a means of transacting. The downside of cryptocurrency is that the currency’s exchange value depends on investor demand, so if the market falls, the value of Bitcoin could fall as well.
Decentralized currencies such as Bitcoin use a peer-to-peer network of blockchain technology to issue currencies, exchange transactions, and verify transactions. Cryptocurrency is a digital currency that can be exchanged between like-minded people without the need for a third party like a bank. This system allows individuals to trade traditional currencies using blockchain and network-related technologies while minimizing the volatility and complexity of digital currencies.
Blockchain has gone beyond its initial use as a currency and is now used like bitcoin in a variety of situations, from incentives for the inclusion of renewable energy networks to reducing emissions from the global shipping industry to allowing banks to make remittances at a lower cost. The hype surrounding bitcoin, blockchain, and crypto has contributed to renewed interest in distributed ledger technology. At the heart of Bitcoin and other virtual currencies is the blockchain, an open, distributed register that records transactions between two parties in a verifiable and permanent manner.
Simply put, blockchain is a digital register in which all transactions between Bitcoin and the cryptocurrency are timestamped and recorded. We are already seeing how surveillance tools are being developed by governments to share information about the owners of cryptocurrencies and the transactions they make.
China, which is developing its state-run cryptocurrency, on Tuesday, reaffirmed its rules for other digital currencies and banned financial firms from offering services for cryptocurrency trading. China accounts for most of the world’s bitcoin mining and has taken steps to crack down on cryptocurrencies.
Cryptocurrency exchanges are websites where individuals can buy, sell or exchange cryptocurrency and other digital currencies for traditional currencies. They can convert cryptocurrencies into major government-backed currencies or convert them into other cryptocurrencies. Initial coin offerings (ICOs) play an important role in generating interest in the cryptocurrency market.
Initial coin offerings (ICOs) are a hot new phenomenon in the cryptocurrency investment arena. They help companies raise money to develop new blockchain and cryptocurrency technologies. Startups on the cryptocurrency market produce coins or tokens that are offered in an ICO in exchange for legal currency or digital currency to investors.
Bitcoin continues to lead the cryptocurrency field in terms of market capitalization, user base, and popularity. Since Bitcoin and Ethereum account for the majority of the cryptocurrency market share (see graph 2), we are witnessing the emergence and rapid growth of many new technologies. Examples of substitutes include cryptocurrencies, new forms of currency, and systems derived from simple Bitcoin payment technologies.
Proponents of their digital currency, the so-called Central Bank Digital Currency (CBDC), promise speed and other benefits of the cryptocurrency without the associated risks. Due to the decentralized nature of digital currencies, a consensus mechanism allows major changes to be made to the code on which the token or coin is based, although this varies depending on the cryptocurrency. Bitcoin supporters who identify the original blockchain as the true Bitcoin protocol reject new cryptos like Bitcoin Cash, which focus more on some form of value transfer, but proponents of the new cryptocurrency claim that it better fulfills Bitcoin’s original goal of peer-to-peer cash.
Blockchain technology underlies cryptocurrencies and many other cryptocurrencies. Blockchain technology was conceived as part of Bitcoin in 2009 but has many other applications. Blockchain has potential applications beyond bitcoin and cryptocurrency.
Key Takeaways Cryptocurrency is defined as a currency that takes the form of a token or coin that exists on a distributed, decentralized register. The first cryptocurrency, Bitcoin, was released by an anonymous programmer (or a group of them) named Satoshi Nakamoto in 2009 in a masterpiece of computational genius. Blockchain, a peer-to-peer network that sits over the Internet, was introduced as part of a proposal for Bitcoin in October 2008, a virtual currency system that shuns a central authority for issuing currencies, transferring property, or confirming transactions.
This article seeks to demystify cryptocurrencies, citing their complex underlying technology and how digital currencies can be valued. This explanator defines Bitcoin, Bitcoin Cash, Ethereum, and Litecoin as blockchains with initial coin offerings.
Like many other cryptocurrencies based on Bitcoin, it was developed using the transparent CryptoNote protocol. Cryptocurrencies refer to the complex cryptography that enables the creation and processing of digital currencies and their transactions in a decentralized system.
For this reason, Ethereums’ blockchain code has been used to introduce other cryptocurrencies since 2017. Ethereum is based on the cryptocurrency Ether, which like Bitcoin can be traded and exchanged for dollars and other government-backed currencies.
Supporters of the cryptocurrency say the problem can be solved by using renewable energy – El Salvador’s president has promised to use volcanic energy for bitcoin, for example. As written in the original protocol, it could be used by halving it to limit the supply of new Bitcoins and control the value of cryptocurrencies.
Hashing generates a value from a value (a text string) using a mathematical function (e.g. In this way, hashing generates values from string or text using mathematical functions. Hashing is the process of taking an input string of any length and transforming it into a cryptographic fixed output. Hashing refers to the transformation or generation of input data in which the length of the string is specified in size and executed by a specified algorithm. The formulas generated by a hash help to protect the security of the transmission from manipulation.
In particular, the Bitcoin hashing algorithm SHA-256 is the most secure hashing algorithm with 256 bits. This is a one-sided cryptographic function that can be used to retrieve the original data after decryption. The blockchain thus has several different uses for the hash function and integrity protection it provides. Implementing a cryptographic hash function is beneficial to prevent fraudulent transactions such as duplication of Bitcoins or storing passwords. The hash algorithm is considered safe because it is possible to find collisions with it.
In short, a hash algorithm is a mathematical function that turns an input of a fixed size into output. To be secure and usable in blockchain technology, hash algorithms must be collision-proof, which means that it is difficult to find two inputs producing the same output. In a blockchain, hashes are deterministic, meaning that all input data produces the same result each time. Each block contains a header containing the number of blocks, the transaction timestamp, and the hash of the previous block which contained the nonce. To achieve this, you can solve the hash using an algorithm based on the data in the block header.
Each block carries a code known as a hash digest, which identifies the block and calls its position in the blockchain. The hash ensures the integrity of the data by showing that the data has not been altered since it was included in the block. Hash is a pointer that links a block to its predecessor and contains the hash data of the previous block. If a block in a blockchain has the hash of a previous block, that block is called a parent block, and the current block is considered a parent block if it has the hash of this block (i.e. Parent block ). Since each block is linked to its predecessors, the data in the blockchain is invariable.
A blockchain is a linked list of transactions that contain data. A hash is a pointer to the previous block on the blockchain. A certain blockchain function is based on the verification of the hash and the digital signature.
A blockchain is a hash of earlier block sequences that can be manipulated, so the proof sequence function is designed to be hash-sensitive. Changing a variable in one of the hashes of a particular block can cause a domino effect that changes all previous transactions in the block.
A type of data structure, a hash table, is used to quickly detect two identical hashes or hash values. Miners charge hashes when they receive transactions from peers. Users verify parts of a block by checking individual transactions against hashes and other branches of the tree. As you know, we can store all the data as a fixed-length sequence on the Internet using a hash algorithm. When you enter data into the hash algorithm, it often generates the same hash for each identical character in the string. There is no way to reverse the hash process and see the original record.
The hash function takes an input value of any size and generates a fixed-length output. The hash output must have the same size with certain features for blockchain transactions, William Shakespeare works, Atlas Shrugged, and the image document to be completed. For SHA-256, SHA-3, and Keccak, which are used in several blockchains, a hash output of 256 bits (32 bytes) is to be generated.
No matter how much file, text, or transaction is fed into the Hash function, the output will have a fixed length. This means that for longer and more complex inputs, the input produces a hash output. If you want to talk about numbers, a modern computer would take years to guess the input for a given hash value. Cryptographic hash functions are highly efficient, which means that they provide fast performance when creating hash values. Hash functions are also collision-proof, ensuring that two different inputs cannot produce the same output.
They are deterministic features, role-model strength, and collision resistance which are the three most important properties of hash functions in the bitcoin mining process. The term hash function has been used for some time in computer science to refer to the service of compressing strings of arbitrary input into a string of fixed length. In this article, we will highlight the importance of the hash function and its properties, as well as recent progressive developments in this area.
A hash algorithm is a mathematical algorithm that converts the input data into an array of a particular type of arbitrary length and outputs a fixed-length bit string. In the hash context, cryptocurrency is the process of calculating a value from plaintext to protect against interference. This kind of usefulness and functionality makes cryptographic hashing beneficial for protecting information and data. In the context of cryptocurrencies like Bitcoin, the blockchain uses certain unique characteristics as a consensus mechanism.
In a blockchain, each block has its unique nonce or hash, which is a reference to the hash of the previous block in the chain. Mining a block is not as easy as in a larger chain. The first block in a chain is created with a nonce that creates a cryptographic hash. The data in the block is considered signed and bound to the nonce and hash so that it can be mined.
The data of each transaction are merged into a single root hash and this hash is stored in the block header. So, if we change the data in the whole hash function, we can change the hash by changing the Merkle root and that’s it. In the picture above we see the duplicate transactions hashed with their odd number of transactions because the hash is like a Merkle tree with double odd numbers of leaves.
