Posts

Global Pandemic Heightens the Shift Towards CBDC

-
Image
  Originally Published by   ProgressSoft Blogs   By Othman Darwish Traditional money today Money is a social institution that has evolved over millennia, with each form of money unequally serving one or more of the necessary functions as a reliable medium of exchange, unit of account, or store of value. None of the existing forms of money, however, have proven to satisfy all the necessary functions at once. For example, while electronic money is a convenient medium of exchange, it does not serve the function of being a reliable store of value, unlike gold or diamonds. Today, central banks provide these forms of money along with risk-free means of payments for the general public, banks and financial institutions. Traditionally, the general public can hold central bank money in the form of banknotes, whereas banks and financial institutions can hold central bank money in the form of electronic money in bank reserves. Coronavirus and the shift towards digital money With the growing demand
Post a Comment
Read more

The New Internet Protocol: Blockchain

-
Image
By Othman Darwish The age of the online world began its journey with the invention of the Internet. The Internet has grown and evolved into its present form because people find immense value in using it. The emergence of Blockchain technology years ago and its current steady progress would revolutionize the Internet as we know it today. This article is arguing how the decentralized nature of Blockchain would radically changing the today's Internet . Internet starts with a prototype, done back in late of the 1960s by Advanced Research Projects Agency Network or ARPANET, which was funded by the U.S. Department of Defense. ARPANET allows multiple computers to communicates on a single network. The technology continues its growth and developments in the 1970s by Robert Kahn and Vinton Cerf, and they developed the Transmission Control Protocol and Internet Protocol-TCP/IP, a communications protocol that standardized the way the data exchanged between multiple networks. The i
3 comments
Read more

Cloud-based Blockchain: Hijacking The Idea Of Decentralization

-
Image
By Othman Darwish BaaS or what is known as Blockchain-as-a-Service- is a cloud-based solution, that developed by companies such as Microsoft, Amazon, and IBM which dominating the industry of cloud computing.  The model of BaaS provider is promoting and offering businesses to select between a diversity of blockchain platforms, and tackle the complexity of configuring, operating and maintaining the entire blockchain infrastructure. In this blog will opposing the rationality of adopting such a deployment model, and debating some fundamental and conflicting aspects of blockchain technology and BaaS deployment model.         Microsoft and its dominant cloud platform Azure was the first software vendor to offer BaaS. Azure provides a variety of blockchain platforms, such as HyperLedger Fabric, Ethereum, Corda, SysCoin and many more. Such services that provide pre-built templates to build blockchain networks dragged businesses to go with BaaS proposal, to decrease their developme
Post a Comment
Read more

Blockchain-Powered Internet-of-Things: Potentials and Challenges

-
Image
By Othman Darwish Device democracy was the idea of the experiment done back in 2015  by IBM, with the collaboration of  Samsung. The trial studied the integration of decentralization technology of blockchain with Internet-of-Things - IoT. The use case revealed by IBM concerning autonomous wash machine, that able to order detergent autonomously;  that machine provided by a sensor that able to detect detergent level, and when it goes low,  it communicated with a smart contract using Ethereum protocols and instantiated an order request to a retailer. Once the retailer received the request and upon approving it, a digital payment automatically released from wash machine and received by the retailer, then an acknowledged of the payment received by wash machine. The negotiations between wash machine and retailer ordering service and resulting transactions logged on the blockchain. The idea behind  that IBM experiment of making these devices autonomous in a decentralized internet of
1 comment
Read more

Smart Contract WAR: ETH vs EOS

-
Image
By Othman Darwish Smart contracts, the cornerstones of any decentralized blockchain based application, runs nowadays inside different blockchain platforms. Each platform community is working toward minimizing the challenges of developing valuable dApps  to put it in a great use case. In this blogs, will discuss some of competing and promising smart contracts platforms, and how each differentiates itself from other, what tradeoff made, to maximize dApps based application development adaptation, and increase it efficiency. A smart contract is a programmable piece of code that runs inside the blockchain network and executed by all peers that joined that network. Its emergence was indeed an innovation and founded for next wave of blockchain applications, other than currency exchanges application dominated by the Bitcoin system. This was due to the fact the Bitcoin system was designed for currency exchanges and built with a limited instruction set, knowns as bitcoin transactions
Post a Comment
Read more

Bitcoin PoW & Game Theory Aspects

-
Image
By Othman Darwish Since the invention of Bitcoin cryptocurrency and its underlying blockchain technology, a new era of asset digitization emerge. By asset we mean anything could be owned, has a value, and could be transferred from one party to another. Asset digitization aims to provide proof of the ownership, bookkeeping of value, and streamline electronic exchanges.  Electronic transfer of asset done traditionally by the help of centralized and trusted bookkeeper/asset registrar, here the central authority acts as notary service to guarantee the validity and finality of the ownership transfer. As a result, a central entity would maintain a ledger ( bookkeeper ) of assets transfer transactions,  and keep maintaining its valid and final state. With the emergence of blockchain technology, this game changed forever; the needs for a central party that acts as a trusted intermediary to execute ownership transfer of an asset is eliminated, and replaced by blockchain security, cons
Post a Comment
Read more

Consensus Models in Public and Consortium Blockchain: Tradeoff Analysis

-
Image
Authors: Lamine SANO & Othman Darwish Abstract In distributed systems, with multiple computing nodes, consensus is a fundamental concept that aims to achieving system reliability, with the fact that some nodes may fail, malfunction or provide malicious information. This conflict in the provided information, requires a mechanism where all nodes agree on some state; this process is called consensus. The problem was first formulated by Leslie Lamport, Robert Shostak and Marshall Pease in their 1982 paper, "The Byzantine Generals Problem," [1]  and proved then to be unsolvable. Since then,  different algorithms were designed and developed to try and solve this problem under various assumptions. The advent of Bitcoin, and its underlying innovating blockchain technology provided a practical and radical mechanism to solve this problem and make it possible to transfer information in an entirely decentralized and trustless environment. This paper, will briefly explore th
3 comments
Read more