Tag: #technews

What is Swapping Token In cryptocurrency on Ethereum blockchain?

The new token-swapping feature is supported by leading non-custodian crypto exchange Cryptocurrency on the Ethereum blockchain, which means that users of Cryptocurrency’s own crypto market data aggregator can exchange Ethereum-based tokens on the platform. Cryptocurrency’s proprietary analytics website has also been integrated to enable the exchange of Ethereum and ERC-20 tokens. Given the combination of a 0.3% conversion fee and distributed liquidity from providers, Cryptocurrency’s popularity as a launchpad for popular Defi projects and tokens has grown to become one of the leading Defi platforms through Total Value Locked (TLV) – a measure of the total value of crypto assets locked on the exchange.

A token swap is a process whereby a parallel currency is exchanged at a pre-determined rate. Direct exchange of a certain amount of a cryptocurrency token by a user is facilitated by a special exchange service. A swap occurs when the underlying blockchain supports coin change and the holder takes action to access a new token.

If you sell a coin and purchase a token swap as a replacement, the token swap means that you have to exchange the old coin for the new one in exchange for some of its value. A token migration, even if it means buying a token as a full replacement token, is when a new token doesn’t exist when the swap takes place. Rebranding is when token names are changed, ticker symbols are traded and token trading happens when the underlying blockchain supporting the token is changed and holders are forced to do some action.

Token swaps can also occur when a project migrates from a third-party smart contract platform to its blockchain. In such cases, token swaps are possible, where developers migrate their tokens from one blockchain base to another while maintaining address balance. Many major exchanges process token swaps on their platforms, where a user can receive credits for the new token if he holds the old token in his trading account.

A token exchange, also known as token migration, occurs when a project uses a blockchain to raise funds such as the Ethereum network and then migrates its tokens to a proprietary blockchain to start it as the main project. Token swaps can also occur when a crypto project starts its blockchain and wants to move its tokens from the blockchain of Ethereum to its new network. This is called a token swap because the process involves transferring token bearer credit from one blockchain to another blockchain.

Token swaps are one of these innovative advancements designed to reduce the overhead, cost, and time required to exchange one crypto value for another. Token swaps are a process whereby cryptocurrencies are transferred between blockchains at a predefined rate. They are also a medium of exchange, and the term refers to the extensive migration of a project from one blockchain to another, which is why DEXs are so popular.

The new version of Cryptocurrency allows users to exchange one token for another. To swap, open Cryptocurrency on your phone and tap the New Exchange button to create the token you want to swap, choose a quote, and swipe to make the swap. 1 inch at the bottom of your navigation bar, confirm that you are not a resident or citizen of a geo-limited region, select a pair of tokens, see the estimated exchange price, enter the token amount for the swap, tap Next,

Cryptocurrency seeks to solve the problem of decentralized foreign exchange liquidity by allowing exchanges to exchange tokens without relying on buyers and sellers to generate liquidity. Clicking on the platform displays the tokens that are available to exchange and request a wallet connection.

In short, Cryptocurrency is a decentralized exchange based on Ethereum (DEX), which enables the exchange of ERC20 tokens. The cryptocurrency analytics platform Ventures is located in the area of token-swapping and decentralized stock exchange (DEX) with its latest offering. There was an ICO boom in 2017, with many blockchain projects raising money through e-Books on the Ethereum blockchain or other smart contract platforms.

In 2017 and 2018, many projects with Ethereum ERC20 tokens and scheduled token swaps started with their native tokens when their blockchains were ready. One of the key criteria for a successful token swap is that the exchange listing the ERC2.0 token must support the token swap and confirm the date on which trading will allow the new native token. The decision to exchange tokens with oneself is a personal decision.

If you want to exchange tokens with the ease of a trading platform or have the option to exchange coins yourself, you should consider swapping tokens. With a simple login process and seamless KYC verification, you can exchange tokens. The participating Exchange keeps your tokens in a wallet for you, and when the exchange takes place, the Exchange creates a new wallet for your account on the Exchange and transfers the new tokens to it.

To do this, the ETH must be present in the wallet to which the swap can send the tokens. If you have digital tokens migrated to the new blockchain, it is crucial to follow the instructions for token exchange, as your old tokens will become frozen and inaccessible if you do not register your tokens in advance to migrate and store them in an exchange that is not migrated in your name. This article focuses on what happens when a project’s token price is changed from the project’s ERC20 token to the project’s native token.

Also read : What are the different categories of security tokens available in the market?

Vu becomes Flipkart’s Big Billion Days’ highest-selling big television brand 7 years in a row

Vu Televisions continues to dominate India’s Luxury TV market as it once again becomes the highest-selling TV brand at Flipkart’s Big Billion Days sale. Riding high on this success and ushering in the festive season, Vu has introduced an upgraded line of its most popular luxury TVs.

  • The company’s large-screen TVs have witnessed incredible success at the Big Billion Days sale, with Vu TV being bought every 19 seconds on Flipkart.
  • The company’s luxury television lineup that includes their Vu Premium TV, the Vu Cinema TV Action Series, and The Vu Masterpiece TV will be introduced this festive season with upgraded features.
  • New features include AI picture boost technology, Dolby surround sound, Cricket mode, and an anti-glare screen with a matte glass finish.

Over the last few years, Vu has experienced an incredible response from customers in India, with a large-screen Vu TV being bought every 19 seconds on Flipkart since the beginning of its Big Billion Days sale. With a response nearly 4 times faster than other big premium brands (Sony, LG, and Samsung), Vu Televisions has come out on top as the largest selling TV brand in the 55″ or larger category for the 7th year in a row.

Vu Televisions continues to innovate with a slew of updated features across its range of large-screen luxury televisions with such exceptional market performance. With this new range, Vu introduces:

  • The world’s first TV entirely powered by artificial intelligence, AI Picture Booster technology enables the best picture output.
  • An immersive surround sound experience, with special Dolby certified box speakers.
  • Intelligent pixel technology in Cricket Mode enhances each pixel, particularly while watching a match, putting you ahead of the umpire!
  • And finally, Matte glass finish, an anti-glare display that guarantees the best visual experience while protecting your eyes.

Commenting on the launch, Devita Saraf, Chairman and CEO, The Vu Group, said, “Vu’s continued success is a clear reflection of the fact that Indian customers are truly intelligent buyers who don’t opt for the lowest costing TV and are willing to pay the right price for quality brands. Audiences today are much more discerning and are looking for better experiences from both the products as well as the brand. And with the response we’ve seen so far, it is safe to say that Vu Televisions has hit the mark on both counts. Also, the fact that more than 80% of the customers who purchased Vu TVs were returning customers or recommended to do so by a friend, shows how a good product speaks for itself.”

The festive season product range includes; the incredibly successful range – Vu Premium TV (in 65″, 55″ and 43″) that now has a set of upgradable features, as well as the Vu Cinema TV Action Series (in 65″, 55″ and 50″) in an all-new avatar. The crown jewel of the Vu portfolio, The Vu Masterpiece QLED TV (85″), will also be a part of the festive range and will feature its signature Armani Gold colour finish along with an in-built home theatre.

Website: www.vutvs.com 
Facebook: www.facebook.com/vutvs 
Instagram: www.instagram.com/vutelevisions 
Youtube: www.youtube.com/thevugroup

How to Block UPI Apps if You Lose Your Phone?

The Unified Payments Interface, or UPI, has become a regular payment choice for millions of Indians as it allows consumers to transfer money from one bank account to another bank account within a few seconds, and that too without any hassle. Apps like Paytm, Google Pay, PhonePe, Amazon Pay, BHIM app, WhatsApp Pay, MobiKwik, and banking apps such as SBI Pay, BOB Pay, and Axis Pay are a few of the top UPI payments apps in the country.

Almost 6 out of 10 smartphone-owners in India have one of these apps in their smartphones, which is directly linked with their respective bank accounts. All of the apps mentioned above are secured, and as per the latest reports, the National Payments Corporation of India (NPCI) has recently developed a method for transferring funds via UPI that does not require the use of an internet or mobile application.

The newly developed technology named USSD 2.0 allows smartphone users to send money via UPI by dialling*99# instead of the old method, which only works when the phone is connected to the internet. Almost every user knows how to utilise these UPI apps, but do you know how to block or deactivate these UPI payments apps from being misused if you lose your mobile phone? If not, we’re here to be your saviour.

All major banks in India support the UPI payment system to help the country transform into a digital economy. Currently, it is the most common and most favourable payment system in the country, with over 3000 million transactions to date. Also, in a highly populated country like ours, losing a smartphone is not a big deal, but it will definitely raise security concerns if you have an active UPI account on your smartphone. 

Nowadays, even a street vendor in India offers an option to pay via UPI, and every passing day we’re getting more addicted to the transaction system. Staying safe and alerted will never wreck you down, so first, understand one crucial element about UPI payment systems before getting into the step-by-step guide. Never share your UPI PIN or any other delicate details with anyone after losing your smartphone and during the whole process.

Step-by-Step guide on How to Block UPI Payments apps if You Lose Your Phone?

  • If you have a Paytm Account:

Step 1: Take another phone and call Paytm Payments Bank helpline number 01204456456, which will connect you with the customer care executive.

Step 2: After connecting, select the option for a lost phone.

Step 3: Later on, choose the option to enter an alternative number and enter your lost mobile number.

Step 4: Choose to log out from all devices, and head to the Paytm website, to select 24×7 help.

Step 5: Further, choose ‘Report a fraud’ and select an appropriate or any category.

Step 6: Click on the “message us” option and submit proof of account ownership (it can be either your credit/debit card statement showing Paytm transactions or a confirmation email/SMS for a Paytm account transaction or police complaint proof against lost or stolen phone)

Step 7: Once verified, Paytm will approve your request and block your account, and you’ll receive a confirmation message from the company.

  • If you have a Google Pay Account:

Step 1: If you’re a Google Pay user, then call the helpline number 18004190157 to block your account

Step 2: 

  • Choose your preferred language.
  • Inform the customer care executive about your issue.
  • Ask them to block your Google Pay account.

Step 3: If you’re an Android user, then you’ve one more alternative to block your Google Pay account. Android users can ‘remote wipe’ data from their phones saving them from after theft issues.

Step 4: Meanwhile, iOS users can follow the same by erasing their data remotely, but first enable Find My iPhone settings.

  • If you have a Phonepe Account:

Step 1: Phonepe users can call the helpline number 08068727374 or 02268727374.

Step 2: Select a preferred language and report your issue with your Phone Pe account by selecting the appropriate number option.

Step 3: Enter your registered phone number to get an OTP and then choose the option of not having received OTP.

Step 4: Now, select the given option to report loss of SIM or mobile phone.

Step 5: Further, you’ll be connected to the executive who will ask you the required information related to your account, and then the executive will initiate your block request.

  • If you have any other UPI Payment Accounts:

Step 1: First, call the customer care service of your network provider and request them to block your mobile number, which will restrict thieves from misusing your mobile number, generating a new UPI PIN, and do anything with your pre-linked UPI accounts.

Step 2: Next, call your bank helpline number and request them to deactivate your account linked mobile number and disable the UPI service.

Step 3: File an FIR complaint about losing your mobile phone and get a copy of the report so that you can use the copy of the FIR to apply for the same SIM card number in future.

What are the different categories of security tokens available in the market?

Equity Tokens

Except for how ownership is documented and transferred, an equity token is comparable to regular stock. The ownership of shares is traditionally printed and attested on paper certificates, with the tracking of shares maintained in a database. An equity token is instead recorded on an immutable ledger that is kept up to date by tens, hundreds, or even thousands of computers throughout the world. Holders of equity tokens are entitled to a share of the company’s profits as well as a vote. Equity tokens help a company’s decision-making, financial
outlook, and regulatory frameworks in three ways:
Investors can vote while being compliant with securities regulations. New and potentially more democratized
fundraising approaches are available to start-ups. Regulators now have a new and more transparent methodology for assessing a project’s fundraising.

Debt Tokens

A debt token is a short-term loan with an interest rate paid by investors to a company — it could be real estate mortgages, business bonds, or another sort of structured debt. The price of a debt token is determined by two factors: risk and dividend. This is because a medium risk of default cannot be priced the same for a real estate mortgage and a bond for a pre-IPO company. A smart contract, which represents debt security on the blockchain, resides on the network. Repayment terms are incorporated in the contract, specifying the dividend
model and risk aspects of the underlying debt.

Asset-backed Tokens

Tokens representing asset ownership include real estate, art, carbon credits, and commodities. Because blockchain is safe, irreversible, and transparent, it creates a trusted record of transactions, minimizes fraud,
and speeds up settlement times, making it a perfect fit for the commodities market. Asset-backed tokens are digital assets that have properties similar to commodities like gold, silver, and oil, and provide value to these tradable tokens.

security token

A security token is a one-of-a-kind token that represents a stake in an external asset or organization and is issued on permission or permissionless blockchain. Security tokens can be issued by governments and enterprises to fulfill the same purpose as stocks, bonds, and other forms of equity. With the introduction of Bitcoin in 2009, Blockchain became widely accepted. While cryptos and other
blockchain-related financing have a reputation for being unpredictable and speculative, the value of blockchain
technology and other kinds of distributed ledger technology in finance are widely acknowledged.
JP Morgan, Square, and Facebook, among other large banking and technology companies, have already entered
the blockchain field.
As blockchain continues to play a larger role in payments systems, such as CBDCs and stable coins, and the
context of liquidity, via asset tokenization through security token offerings, we’ll see more names.
The term ‘tokens’ conjures up images of initial coin offerings (ICOs), a technique of obtaining funds for crypto
ventures that became popular in 2017, and this is where we’ll start our adventure.

Also, Read:-What is the journey from paper currency system to digital currency system?

What is the journey from paper currency system to digital currency system ?

A medium of the element was expected in return for any kind of service and goods. People started growing to live in a big community and do trading There was a need for a. Proper barter system

Barter system

For trading, goods, or services as the medium of exchange in a barter system, some 10,000 years ago. Livestock, metals,  grains were interchanged for cattle, pigs, goats among individuals within a small community. Observed as a better mode of exchanging things than tonight one another. Not viable when the volume of trading was high.

Starter system

Need for an unbiased state-of-art system for trading higher volumes of goods like huge granaries of grains. Harnessing region’s offerings such as region’s minerals, precious metals ( copper and gold ) were used as commodity currencies as a medium of transaction. These forms of mineral, metal exchanges led to the invention of the coin system.

Electrum system

The first coin with a mixture of gold and silver known as “Electrum” was developed in the Lydia Kingdom ( now it is Turkey ). The coins were in irregular shape and size with the inscription on one side with weight ranging from 0.15 grams to 14 grams. Rulers started creating their coin currencies in metals which evolved into coin standardization. The simultaneous growth of the value of metals and their non-renewable aspect forced people to look for an alternate system.

Paper currency system

The paper currency system is a new beginning in the world Of Currencies. Wear and tear, fragility was the initial hiccups in the Paper currency system but it overcame all the issues. The availability of all kinds of denominations of currencies from smaller to higher enabled easy modes of transactions by people. The invention of electronic gadgets, internet forces the world to get into the digital mode and thus the need for digital currency.

Digital currency system

Money is stored in digital wallets and the transactions happen through the electronic form from the wallet. Payment of bills or any money transaction is processed digitally.No physical paper currency is required which is a great benefit. But this digital currency is still part of fiat currency, which is minted and controlled by the government. The problem of transparency across global still exists which led to the rise of incredible cryptocurrency System

Cryptocurrency system

The great invention of all time, cryptocurrency is the digital currency system. It is a Decentralised, Transparent, Blockchain-based currency System. The technologies used to provide a fair and unbiased from the early trading system. The artificial intelligent driven system prevents the transactions from being hacked or damaged. This has a higher potential in the economic growth for all.

Also read: What is up with HODL and all the bitcoin buzz?

What is up with HODL and all the bitcoin buzz?

Know your parodies first because today we are going to talk about the term HODL and Holding in the crypto world. HODL originated on a bitcointalk.com forum as just a short-form for the expression “hold” and even the crypto community thought it quite interesting because they know about using “HODL” as a phrase to describe the holding (instead of selling) in one’s cryptocurrency.

Industry sources said that India’s biggest crypto platforms witnessed exchanges almost triple and potential users greater than double to weeks before what is recognized as ‘half’ of bitcoin on Monday. With over 400,000 users, WazirX claims to be India’s fastest-growing cryptocurrency exchange, with an average app score of 4.6. WazirX is a part of the Community of Binance.

On the other hand, Giottus by building a strong customer site with top-tier customer service on par with the world’s best exchange markets is revolutionizing the way Indian users trade their digital assets.

Bitcoin brought investors periodic optimism in December, as its price increased exponentially and set records. The glorious spin in its price had pioneers of bitcoin making wild predictions away of its price.

Three months later, their predictions were much bleaker. If bitcoin was a stock, — equivalent will also be induced by market movements next year.

Fundamental drivers keep reinforcing organizational focus to Bitcoin:

  • Traditionally low interest – Set by the Federal Reserve and new policies in place verified that we can consider near-zero inflation rate for the near future, including an adverse influence on the bond as well as banking system set portfolio management of investors, and create opportunities for investment fund distribution.
  • Geopolitical uncertainty – As political tensions between the United States and China rise as well as the global currency value of the dollar has a significant effect on overall, maintaining an investment primarily exchangeable throughout the USD offers the long-term investor with such riskiness.

For relatively decentralized crypto assets such as bitcoin and ether, each of these developments seems predominantly optimistic. Although decentralized digital currencies. present risks in the field of competitive pressures of regulatory scrutiny for more decentralized cryptocurrency exchange platforms (e.g., stablecoins), greater digitalization of fiat currencies and transactions are more compatible than competing for decentralized crypto assets such as bitcoin, which have less competition in existence. There’s also the issue about who, including Bitcoin and Ethereum, controls or influences its major international blockchains. Acting U.S. Currencies Comptroller recently fretted about China’s enormous dominance over cryptocurrencies like bitcoin through their significant rise of decentralized technologies’ cryptographic hashing capacity. Overwhelming support for cryptocurrency among all those connected with liberal ideals as well as the strategic distribution of wealth could indicate that the most enticing market trend for crypto-assets can also be witnessed swiftly: policymakers having a significant role in developing or even holding crypto assets. While undoubtedly optimistic, it is hard to understand that both China and The United States benefit from far more truly understanding crypto assets.

  • Expansive govt spending and even the money printing

The largest mechanism underlying accelerated market values in acceptance with crypto assets is probably the issue regarding government expenditure and fiscal expansion. Indeed, due to pandemics, government debt already was concerning, with several (like myself) sounding the alarm about world-war levels of public indebtedness, without a world war.

  • By questioning bitcoin on online forums, policymakers and analysts all over the world have added pressure. The position has made regulators cautious of putting Bitcoin under government protection. Online sites that welcomed bitcoin aggressively after its announcement have entered bitcoin bears and placed limitations or entirely dropped cryptocurrency from their ecosystems.

For its past year, the value of Bitcoin was already on a wild ride. Even so, the current price drop has provided investors reasons to contemplate their stance, considering that it comes after an extended stage of prosperity. The Bulls claim that the price of bitcoin follows a straightforward pattern based on previous patterns and that it will grow again. Interestingly, to present their point for the sale of bitcoin, the bears point to overall aggressive perceptions and problems associated with the current cryptocurrency.

Also read: How does digital currency have an edge over traditional currency?

List of AIoT Products Realme is Going to Launch on October 13th Launch Event

We’re on the edge of the great Indian festive season, and to make most of it, Realme India is holding an event on 13th October to launch Realme GT Neo 2 and Buds Air 2, but according to the recent announcement from the Realme, apart from these two products, the company is also planning to launch a bunch of new AIoT products and the Snapdragon 870-powered smartphone on the same day.

The newly added list of products includes Realme 4K Smart TV Google TV Stick, Realme Brick Bluetooth speaker, Green-coloured Realme Buds Air 2, Realme Cooling Back Clip Neo, Realme Type-C SuperDart game cable, Realme mobile game trigger and gaming accessories. The event will begin on 13th October at 12:30 PM, and it will be live-streamed on the official YouTube and Facebook channel of the Realme.

Realme 4K Smart TV Google TV Stick

Realme’s first accessory to the TVs is said to be India’s first Google TV streaming device. Earlier, it was supposed to be launched on Flipkart during the Big Billion Days Sale, but somehow the company didn’t release the product. The upcoming Smart TV Stick will be available in Black colour and will feature a powerful processor. The product will compete with the likes of the Xiaomi Mi Box 4K and Amazon Fire TV 4K. 

The Smart TV Google Stick, based on the Android platform, will come with an HDMI port to connect to your TV, and with this stick, buyers can turn their non-smart TV into a smart TV, or they can upgrade their existing smart TV to get a Google TV experience. The upcoming TV will provide seamless entertainment to its buyers with its built-in entertainment platforms and multiple connectivity options.

Realme Brick Bluetooth Speaker

Along with the 4K Smart TV Google TV Stick, Realme will launch its third Bluetooth speaker called the Realme Brick Bluetooth Speaker. The speaker packs a 20W Dynamic Bass Boost Driver, and it offers a long playback time of up to 14-hours along with additional features such as stereo pairing and equalizer presets. The speaker will come with a 5,200 mAh battery, and buyers can pair two Realme Brick Bluetooth Speakers to enjoy a 360-degree stereo sound experience.

About gaming accessories, the company will unveil a cooling back clip Neo that offers a rapid cooling solution, while the Type-C SuperDart game cable will empower gamers to play carefree while charging. The Mobile Game Trigger is advertised to “bring reactivity to gamer’s fingertips, and it will help mobile gamers to play better. Lastly, the Realme Buds Air 2 will arrive with a Closer Green colour, but the specs and features will remain the same as earlier.

How Blockchain is changing Financial services firm dedicated to asset Investing?

Blockchain technology is one of the most promising financial breakthroughs, with the potential to decrease fraud, provide speedy and secure transactions and exchanges, and ultimately assist in risk management within the interconnected global financial system. Blockchain achieves this by employing powerful cryptography that is supposed to be resistant to hacking, hence enhancing the transaction ecosystem’s trustworthiness.

Blockchain may be used for a variety of financial purposes, including maintaining track of transactions and trades. In this age of digital revolution, as our global financial system becomes more integrated, investors would be wise to understand how blockchain is transforming the system and how to profit from it.

Blockchain’s Financial Services Benefits

Blockchain technology has the potential to make the financial services industry more transparent, less vulnerable to fraud, and less expensive for consumers.

Transparency  

Because consumers perform activities on a public ledger, blockchain can make the financial industry more transparent. This transparency can reveal inefficiencies such as fraud, allowing financial organizations to solve problems and decrease risk.

Increasing security

The digital universe is a breeding ground for scammers as customers become more engaged online. This worry could be alleviated thanks to blockchain technology. 

Traditional banking payments and money transfers are slower and less traceable than those performed on the blockchain. When data travels via various financial intermediaries, it is possible that it will be intercepted, increasing the risk of fraud. Blockchain’s cryptographic methods, which provide security in the exchange of information between participants, can plug this oversight gap.

Clean audit trails can be difficult to obtain in traditional banking at times. This has led to major economic losses in the past due to irresponsible behavior or malicious actors. By combining blockchain technology with machine learning to monitor and manage hazards with a high degree of precision, this risk may be greatly minimized. Blockchain is required for data integrity in financial technology companies and other organizations that employ big amounts of data. Because the blockchain network is decentralized, there is no single point of failure.

Cost-cutting

Blockchain allows consumers to benefit from decreased costs connected with traditional financial services as investors migrate away from financial advisors to avoid higher fees.

Financial technology firms have grown to be a significant element of the financial services business, allowing investors to establish accounts with digital advisors and make their own financial decisions. Consumers will benefit from this innovation because investors will get better value for their money and will be able to strike a balance between financial service automation and cheaper costs. The first to implement this new technology will be able to streamline internal procedures and give lower-cost financial services to their consumers, thereby beating their competitors on the cost to take a larger share of the market. This benefits the average investor who wants to save money while taking advantage of this new financial services environment.

Financial Institutions Face Risks

One key danger hurting the bottom line weighs against the potential blockchain has for financial institutions. Transaction fees, which might be reduced or eliminated with blockchain technology, are how traditional financial institutions generate money. When it comes to money transfers, consumers must rely on banks or third parties to complete the procedure. However, blockchain adoption could eliminate fees and other costs connected with these services by bypassing third parties such as banks. 

As a result, banks may encounter volume and transaction-based income issues. Blockchain makes proprietary financial infrastructure-less important because it serves as a verification mechanism that is “not concentrated in the power of one institution. Furthermore, blockchain innovation is moving at such a rapid pace that regulation has yet to catch up. As a result, possible policies affecting blockchain can be considered as a further impediment to blockchain adoption in financial services.

Also read: How is blockchain helping in fueling the logistics industry?

 

 

How is blockchain helping in fueling the logistics industry ?

Achieving excellence in logistics entails working collaboratively with others to optimize the flow of physical goods as well as the diverse flow of information and financial transactions. However, there is a substantial amount of trapped worth in logistics today, owing to the competitive and volatile nature of the logistics industry. 

For example, it is estimated that there are over 500,000 personal trucking companies in the U.S. alone. With so many stakeholders involved in the supply chain, low transparency, unstandardized processes, data silos, and varying levels of technology acceptance are common. Many parts of the logistics value chain are also constrained by traditional methods imposed by regulatory authorities. Blockchain technology has the potential to help address logistics frictions as well as realize major gains in logistics process efficiency. This innovation can also improve data transparency and access among supply chain stakeholders, resulting in a system of record.

Furthermore, the inherent cryptographic protocols of blockchain technology improve the trust required among interested parties to share the information. Furthermore, blockchain can help to reduce costs by enabling leaner, more automated, and error-free processes. It can speed up its logistics process all while increasing performance and stability in logistics operations

Provenance traceability of goods can enable efficient and sustainable supply chains on a large scale, as well as aid in the fight against product counterfeiting. Furthermore, blockchain-based solutions have the potential to facilitate new logistics services and more innovative business models.

Blockchain acting as Fuel in Logistics Industry Blockchain solutions will document and record the movement of all commodities used during a shipment. Every time a container moves, a package is filled, or a distribution attempt is made, a record is created. This creates an unbreakable digital paper chain. Blockchain software can record transactions and store digital copies of important paperwork such as a purchase order, bill of lading, customs documents, and other documents. It is also possible to update it on the fly. This enables carriers to notify shippers and recipients of any transportation delays or shifts in expected arrival times while on the road. Temperature zones are recorded by this type of software for cold storage supply chain operations. It not only provides a digital database but also improves the safe transport of temperature-sensitive materials. As a result, it reduces the possibility of bacteria spreading or foodborne illnesses. Blockchain also connects tracking software and hardware tools like serial numbers, bar codes, RFID tags, and the product itself.

Also read : Is green blockchain technology a way to go today ?

Is green blockchain technology a way to go today ?

is According to the most recent estimates, the network consumes as much energy in a year as in Argentina. China, which generates the majority of its energy from coal, is home to 65 percent of crypto diggers. Some proponents claim that up to 74 percent of energy needs are met by sustainable sources, while these estimates are debatable. Every year, the network generates 11.5 kilotons of electronic waste. Not all cryptographic types of money have significant environmental consequences. A significant majority of them do not use mining in any way.

. A significant majority of them do not use mining in any way. Some people do require this cosmic energy, which is expensive due to the cutthroat premise of proof-of-work blockchains. Cryptographic money exchanges are documented by a conveyed group of excavators, who are aided by block rewards, rather than being saved in a central data store. These specific computers are competing in a computational competition to create new squares by solving cryptographic puzzles.

Cryptographic money proponents agree that this framework has several advantages over other monetary systems since it does not rely on a trusted intermediary or weak link. Regardless, the mining puzzles necessitate multiple energy-intensive calculations. Coal and other petroleum products are currently a substantial source of electricity in many parts of the world, both for cryptographic currency mining and other companies. In any case, because of the carbon dioxide produced by the interaction, coal consumption is a significant supporter of environmental change. According to a CNBC study, digging releases roughly 35.95 million tonnes of carbon dioxide each year.

MODERN EVOLUTION OF CRYPTO MINING

Supporters have downplayed the energy consumption of cryptocurrencies, claiming that mining operations tend to concentrate around areas with surplus renewable energy like solar energy. Sun-based – a regular fuel source – could supply just 40% of framework power before utilities would confront the need to support critical speculations with higher power costs. With mining incorporated into a close planetary system notwithstanding, energy suppliers – regardless of whether utilities or autonomous elements – would play the exchange between power costs and mining costs, just as conceivably sell the “excess” sunlight based and supply practically all matrix power requests without bringing down productivity. This deployment, along with energy storage, not only facilitates the transition to a cleaner and more resilient electricity grid but is also cost-effective. In conjunction with renewable energy and storage – is especially well suited to accelerate the energy transition. This work is merely the beginning of a fruitful exploration of solutions that help usher in an abundant, clean energy future. Solar is now the least expensive energy source in the world, but are hitting deployment bottlenecks primarily because of their intermittent power supply and grid congestion. It is a flexible loan option that could potentially help solve much of these intermittency and congestion problems, allowing grids to deploy substantially more renewable energy. By deploying more solar these generation technologies will likely fall even further down their respective cost

Businesses and world leaders have been striving for ways to go green for more than a decade. As technology continues to advance, the possibilities for eco-friendly movements expand. Now, one of today’s most promising technologies, the blockchain, could offer an innovative solution to addressing climate issues. 

Blockchains are decentralized digital ledgers most often seen in the financial industry. These technologies are the foundation of cryptocurrencies like Bitcoin, but that’s not their only use. In early September, the Global Manufacturing and Industrialization Summit (GMIS) revealed a new blockchain application — green energy.

It aims to apply blockchain in several areas to foster the most growth. First, it will use blockchains to enable global crowdfunding for green energy projects. Blockchains have become popular among financial institutions for their ability to run fast, secure transactions. It will apply these same benefits to crowdfunding, helping fund renewable energy globally. Ideally, manufacturers could then use these new green technologies to produce more sustainable products. 

Also read :What is TRON 4.0 and zk-SNARKs cryptographic technology ?

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