Blockchain is a public record of all cryptocurrency. Developed primarily for Bitcoin (a digital currency created in 2009 under the alias Satoshi Nakamoto), blockchain technology removes the need for a “trusted” third party to facilitate or verify transactions. As such, over top 40 financial institutions along with several other companies across a wide array of industries are now experimenting with blockchain technology as a way to track the ownership of assets. As a result of the effectiveness of the novel invention, it’s ow put a dent in the demand for third-party verifiers including auditors, payment processors, brokerages and other forms of similar organizations.
Where Blockchain Technology Goes from Here
The truth is, though, regarding blockchain technology, we’re still not entirely sure what to expect from an evolutionary standpoint. For it to truly grow unfettered, the technology would have to be considered in such a way as the Internet was; that is, with limited regulations surrounding it. The Internet was able to blossom at the speed of a shooting star because it never really fit into a regulatory framework, which is the one thing that can often impede innovation. However, what can put the technology in jeopardy are the unknown individuals who are using Bitcoin’s blockchain technology to store and link information for nefarious motives.
The fact is blockchain technology can store a nominal amount of non-financial data, and so it has been detected that some of that information is related to illegal content such as child abuse imagery. This is, and will be a major source of concern for Bitcoin moving forward because without the proper safeguards in place, anyone with the means and knowledge to do so can inject questionable data into the blockchain technology and, once that happens, users who utilize the technology for upstanding reasons can still be found liable for its questionable content even if they were not the ones who stored it.
Ethereum & Blockchain Technology
Though Bitcoin is the “buzzword” in cryptocurrency over the last several years, Ethereum is another platform some say could surpass Bitcoin as early as 2018. Like Bitcoin, Ethereum is an open-source public service that uses a blockchain technology to verify all data transactions without the need for a third-party verifier. Ethereum makes available two accounts: external owned accounts that are human-influenced, and contract accounts.
Ethereum or Bitcoin?
Both Ethereum and Bitcoin trade in cryptocurrency, but when it comes to safety protocols, Ethereum has the edge. Where Bitcoin allows only permission-less transactions, Ethereum allows permissioned and permission-less transactions. What’s more, the average block time for an Ethereum user is 12 seconds compared to Bitcoin’s 10 minutes. This means a user can complete more blocks using Ethereum and receive more Ether (Ethereum’s name for their cryptocurrency). Because of some of these stark differences, Bloomberg wrote Ethereum is “the hottest platform in the world of cryptocurrencies and blockchains.”
Such praise from Bloomberg and other financial institutions, will likely keep the momentum going for venture capital firms to continue to explore and invest in cryptocurrency.
Then there’s Hashgraph.
What is it? It’s a data structure and consensus algorithm invented by Leemon Baird, the co-founder and CTO of Swirlds. It is fast (hundreds of thousands of transactions per second), secure, and evenhanded (consensus time-stamping).
Hashgraph looks to provide all the services of blockchain as a distributed ledger technology without the constraints. While many ledgers use gossip protocol, (a communication protocol that utilizes a computer-computer process) Baird combined the gossip protocol in the form of “gossip about gossip” with a voting algorithm to reach consensus quickly and securely without proof of work.
How quickly? In 2017, released results of tests that saw hundreds of thousands of transactions per second were made on the permission-based ledger for multiplayer gaming, stock market transactions, micro payments, food, and in-app purchases. That is compared to blockhains like Bitcoin, and Ethereum’s blockchain which transacts about 5-7 per second. It is about 50,000 times faster than its competitors, and it’s also safer (asynchronous byzantine fault tolerant).
Byzantine-fault-tolerant algorithms can allow systems to continue to work correctly even when there are software blunders. Not all errors can be eradicated; it’s a step in the right direction safety-wise, and puts Hashgraph a cut above the rest. Still, though, while experts share this sentiment, they also do recognize that it’s too early to tell if Hashgraph will surpass Blockchain as the standard in distributed ledger technology.
AI mesh is defined as a free firmware update, which adds support for the protocol to your router.
Though it’s not in the same realm a blockchain, it does function as a “connector” of sorts. It’s a system that uses a customer’s current routers to create a mesh network without the need to additional hardware that may not be necessarily cost effective. Mesh networking is a useful tool for those who want to flood their home high-speed Wi-Fi. In essence, it makes your home technologically whole, and you completely in charge of the system.
AI mesh integrates a number of smart technologies to ensure top performance and dependability, and consistency. A solid data foundation connects all the AI mesh-enabled routers, with AI mesh cerebrally choosing either a wired connection or a prime frequency band like 5GHz or 2.4GHz. Tri-band routers offer a pair of wireless networks and will dedicate one of the two 5GHz bands to inter-router communications. The more bands you’re able to work with, the less interference you will experience. What’s more, having three separate Wi-Fi bands means three times the bandwidth. Tri-band routers do unfortunately come at a higher cost, so shop around as prices do vary from retailer to retailer.
Satori and AI Mesh
Keeping in the vein of smart technology, there’s Satori—the world’s decentralized AI mesh. It’s also a secure, distributed, artificial intelligence platform that offers real-time data analysis. Subscribers spend LIT Tokens which allow access to Streambots and live data streams. The more tokens that are spent, the more the network grows. With growth comes innovation. So, while Bitcoin created the blockchain, and Ethereum utilizes smart contracts, Satori is becoming the standard if you consider it can process and understand a billion transactions per second.
Developers can create Streambots that are accessible in the Satori marketplace. Developers also have the ability to set their own prices. As subscribers use their Streambots, the developers get paid. The Satori network has developed an open marketplace that benefits all both publishers and subscribers through LIT Tokens. To ensure safe and secure transactions, Satori uses the Hashgraph ledger.
What does the future hold for Satori? The sky’s the limit. Streambots will offer unlimited avenues for a plethora of applications aimed at B2B, B2C, or P2P—applications such as audio and video, gaming, social networks and more. In fact, Satori powers impressive hits including Game of War, Fire Age, Mobile Strike, and Final Fantasy XV. It transforms emergency responsive safety with real-time data analysis to millions of video feeds. Consumers and businesses and even smart cities alike will have unmatched access to the world’s live data streams, and you can’t beat that.
The Setup for AI Mesh
Research what model router supports AI mesh. It’s also important to note that during setup, you need to identify your primary router, which is your highest specification router and should be connected to the Internet. Once you’ve installed the latest firmware (which can be found at asus.com) and set your node routers to its factory defaults, the rest is easy. From there, the completion becomes a basic step-by-step action until your routers are operating at top performance.
Just in case, a self-healing faculty immediately replaces a failed router using the remaining router connections. Furthermore, AI mesh checks the strength of the signal for each device from each router to ensure that devices are always connected to the best Wi-Fi signal, automatically switching to a different router when prompted.
The Reality Cryptocurrency & AI Mesh
Platforms like Satori and companies like Hashgraph are defining the future. The possibilities are endless. We know that cryptocurrency is on the rise and will eventually become our permanent currency. With incredible platforms like Satori, cities are becoming smarter and our online experience is forever changing for the better.
To learn more about building your digital presence, contact Ezra Digital!