How Can Blockchain Technology Create A New Scope For Digital Identities?

Digital Identifiers Using Blockchain Technology

We all leave our impression on the digital platform whenever we do business on the internet. The more we use the digital platforms, the more we leave digital traces behind us. The internet discloses users personal and financial data when they use financial transaction services such as Paypal, credit card processors, direct banking, Google Wallet, Apple Pay, Amazon Pay, Square, Stripe, Venmo, and cryptocurrencies. There are more than 1 billion people worldwide that face identity challenges.

Personal details of people like their birthdates and home addresses have always been accessible through a quick Google search and it is something we have no control over. Nowadays the dark web turns up the information many of us still hold precious such as social security numbers, bank accounts, health insurance details, and whatever else a criminal may desire. Majority of us don’t read the small print or too deep technical assessments before sharing our information online.

With the evolution of blockchain technology and blockchain development services, the word privacy may regain its meaning. Blockchain technology has the ability to control information and avoid duplication. This means that the idea that individuals can control their personal data no matter where they are, could be a reality for the first time.

The End Of Identity Theft

  • Self-sovereign identity is a great idea as it can put an end to many issues that impact consumer privacy.
  • To manage identities by using a blockchain ledger can make it extremely difficult for fraudsters to wreak havoc without leaving an obvious digital trail.
  • Each and every block in the blockchain is made upon its predecessor, and this cryptographic nature of the blocks make it hard to alter information stored in the existing blocks.
  • This system averts nasty actions by data keepers.
  • The blockchain technology eventually makes identity theft more difficult to execute.

Decentralized Identifiers(DiDs) Based On Blockchain

  • An unchangeable record of blockchain ledger is what allows individuals to take charge of all the information that is within their identity.
  • Every individual can regain complete control of their data with the help of blockchain-based Decentralized Identifier.
  • These identifiers are basically a secret URL stored on a blockchain ledger.
  • Generally, when you sign up for a new app, typically you will have to share your name, email address, and other basic information. With the use of DiDs, this process becomes faster and secure.
  • Decentralized Identifiers empower individuals to swiftly update their personal details.
  • The services that are using your Decentralized Identifiers automatically have the updated information. This process is much better than enabling misinformation run free.

Benefits Of Blockchain For Digital Identity Management

  • The blockchain technology has an astounding capacity to transfer the online identity management.
  • A great amount of user’s personal data like their name, age, address, financial and social records, are put together for creating an online profile.
  • All these information gets adds up to our online profile, on which we have no control. The people who control these data of yours can share it with third-party companies. That is the reason why cyber crimes and frauds scare us.
  • Blockchain technology has the ability to track where is our data stored or where it is used. The data stored in a decentralized manner has a clear history of transactions which is visible to the people connected to a peer to peer network.
  • The consumer that is using blockchain gets better privacy protection and they can take control of their own data.
  • For businesses, blockchain helps to minimize risks and cost of data breach.

Conclusion

The use of blockchain technology for the password and identity verification status is gradually increased at tackling vulnerabilities. The blockchain is showing a new path that can deliver significantly less risk alongside far greater upside. Nowadays each and every industry is adopting this technology, as it provides high security and is robust by nature. There are blockchain development companies like OpenXcell that is all ready to help each and every industry by developing blockchain-based systems for them. OpenXcell has an excellent team of skilled blockchain developers, that can develop and design all the services ranging from simple to advanced blockchain architecture to meet your business specifications.

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Why Is Blockchain Technology Analyzed As The Future Of Supply Chain Management?

BlockChain The Future Of Supply Chain Management

Blockchain Technology is mainly known for its use in Bitcoin, it is used as a means of hyper-security. Supply Chain management is also a platform where the use of blockchain technology is emerging day-by-day. With the use of blockchain technology in a supply chain, there is some sort of transfer of ownership. The blockchain is also expanding in the financial services industry. The use of blockchain technology makes settlements and international payments more transparent, secure, and efficient.

The usability blockchain has always been to enhance food and drug traceability, monitor shipping RFID tags, and protect important documents. The blockchain technology is eventually able to reduce the cost and time of all sorts of global supply chains. The market for global blockchain in a supply chain maintains a compound annual growth rate of over 48% from now to 2023, as the increase in blockchain development company is constant.

Why Use Blockchain Technology?

The blockchain technology is gradually becoming the backbone of a digital supply chain. Here are few of its advantages of blockchain technology over digital supply chain:

1. Smart Contract

  • By implementing smart contracts the entire process of payments can be made frictionless. With a smart contract, you can automatically pay the manufacturer by setting the criteria according to the on-time delivery and quality.
  • The complete system of blockchain supply chain allows seamless, quicker, and secure transactions across every level.
  • Blockchain technology can also provide public cloud services.

2. Transparency And Traceability

  • This challenging and difficult process of traceability can be simple and automatic by using blockchain technology efficiently.
  • In near future, blockchain will be able to trace every product to the origin of raw material used. This feature can give a sense of safety to the customers, as they can know everything about the making process of the product.
  • The process of tracking the quantity and transfers of material between supply chain partners are just some exemplary use cases.

3. Data Validation

  • Every stage of a transaction has data validation, be it transactional stage or agreement stage.
  • The blockchain technology imparts an added level of security to the supply chain.
  • It keeps records of products, delivery, and documents on this immutable ledger.
  • This technology has the capability to transform the current supply chain management system completely, rather than just automating the process.

Future Use Cases Of Blockchain Supply Chain Management

  • Tracking of goods will remain a major target for future supply chains.
  • To accomplish reliable and transparent documentation of all transactions in supply chains, it should go to a new level of maturity.
  • The collection of data is visible in real-time to all members of the supply chain through blockchain platform and it guarantees data manipulation and availability security.
  • The auditing of real-time quality data can allow companies to minimize their response time to events.
  • In short, the blockchain technology extends the efficiency and facilities in world trade with a real-time approach.
  • Blockchain also enables you to create a distinct approach for both your customers and partners.

Conclusion

The blockchain technology is definitely the future of supply chain transparency. It will change the current way of supply chain system. Be it the financial services or cryptocurrency or food product shipments, blockchain technology is still on acceleration. There are companies like OpenXcell, that are talking the supply chain management to the next level with the help of blockchain technology. OpenXcell has a team of expert blockchain developers who are ready to help you in creating a transparent supply chain process with the clean distribution of data by developing a distributed ledger for your supply chain.

Blockchain Technology: The Best Solution For Cross-Domain Security

Blockchain Cross-Domain Security Solutions

The design of a blockchain business network definitely shares information from different institutions by distributing ledger transactions to peer nodes located throughout the business network. This process includes nodes physically located within a competing organization’s security domain and environment. The same security design of blockchain has features to enable these secure cross-institutional information transfers which admirably suites to ensure the efficient, cost-effective and safe transfer of information.

For secure information exchanges across network security domains, the well-suited platform is Hyperledger Fabric blockchain. A blockchain-based cross-domain solution is likely to be less complex, less expensive and more effective solution than traditional according to the blockchain developers. These special-purpose cross-domain guards the system when checking the high stakes security risks of cross-domain.

Security Challenges The Organizations Face With Traditional Cross-Domain Solutions

  • Organizational sectors like public, private, government and military, protect and classify their information from the security risk it poses if disclosed without authorization.
  • The most basic form of protection is separating information of different security levels on completely separate communication networks and IT infrastructures.
  • Generally, highly functional systems that are known as cross-domain guards, sit at the confines of each security domain to read files from a designated source location.
  • These controls and filters confirm the integrity and contents of the file to satisfy security policies and then write the file to a designated target location in the other security network.
  • These data flow of cross-domain are either low-to-high or high-to-low.
  • The matter with low-to-high guards is to prevent the introduction of dangerous computer files like malware or viruses, and preventing a reverse flow of data.
  • While the concern for high-to-low guards is to prevent unauthorized exposure of higher classification data to the lower classification network.
  • The traditional cross-domain solutions are expensive due to complex and lengthy implementation processes and specialized equipment.

Blockchain Solutions For The Cross-Domain Security

  • When we talk about blockchain network, its role is to accomplish the cross-domain network peer that is installed on a high assurance platform which is known as a High-Security Business Node.
  • The data that moves within the blockchain’s distributed cross-domain network takes the form of cryptographically secured transactional updates to a shared ledger.
  • This ledger is held by each node in a specific members channel of the business network.
  • Another peer node of the blockchain network exists in other security domains which can be either high or low and they receive the protected blocks of signed ledger transactions.
  • This signed ledger updates to peers located on the opposite security domain occur via the border High-Security Business Node to provide security by blockchain.

Benefits Of Blockchain Cross-Domain Solution

  • Auditable control of asset information throughout the life cycle
  • Sharing of information rather than only moving data
  • Reduction in cost with higher security
  • Single-shared view of each asset, regardless of a network domain.

Conclusion

A cross-domain solution by blockchain reduces erosion to your information exchange process and improves traceability, accountability, and accessibility of information exchange. The blockchain technology is most beneficial because of its excellent security solutions for all domains. There are blockchain development companies like OpenXcell that has skillful experts in blockchain who can help you out in securing your system with the use of blockchain technology.

Here Is All You Need To Know About The Linux Foundation’s Hyperledger Project

Linux

Keeping track of all the record has become a supreme need for almost every business in recent times. The fact is that the things are becoming more and more complex and business owners are not ready to compromise with efficiency just because of human errors. For running any organization, the first and most important thing that largely matters is nothing but maintaining the ledger that keeps a record of general transactions and other important tasks. Unlike past, the ledger is not prepared manually. The hyperledger project by Linux Foundation is widely contributing in this matter and has allowed users to simply keep up the pace when it comes to recording the transactions on a network.

Basically, Hyperledger is not a cryptocurrency nor it is a company, it is an umbrella project of open source blockchains and related tools. Linux Foundation started hyperledger in December 2015, mainly to support the collaborative development of blockchain-based distributed ledgers.

  • Short Hyperledger History

– The Linux Foundation announced the creation of the Hyperledger Project in December 2015.

– It Was launched in 2016 with a technical and organizational governance structure.

– The main objective of the hyperledger project is to accelerate cross-industry collaboration by distributed ledgers and developing blockchains, with an appropriate focus on improving the reliability and performance of these systems, which can result into it being capable of supporting global business transactions by major financial, supply chain, and technological companies.

– In early 2016, the hyperledger project began accepting proposals for incubation of codebases.

  • Why Create Hyperledger?

– A blockchain technology is a peer-to-peer distributed ledger, combined with a system for smart contracts.

– When they are together, they can be used to build a new generation of transactional applications that establish accountability, transparency, and trust at their core.

– If you think of hyperledger as an operating system for micro-currencies, marketplaces, decentralized digital communities, and data-sharing networks. You will find out that it has the potential to vastly reduce the complexity and cost and of getting things done.

– The only software development approach of hyperledger is having collaborative and open source blockchain technology that can assure the longevity, transparency, and support, that is required for prevailing commercial adoption.

– This is what Hyperledger is about, the communities of software developers that are building blockchain platforms and frameworks.

  • Frameworks Of Hyperledger

1. Hyperledger Sawtooth

– Hyperledger Sawtooth originally provided by Intel is a modular platform for constructing, deploying, and running distributed ledgers.

– A consensus option in hyperledger sawtooth is novel consensus protocol i.e; Proof of Elapsed Time.

– Proof of Elapsed Time protocol basically targets a largely distributed validators with essential resource utilization.

2. Hyperledger Iroha

– Hyperledger Iroha is based on Fabric. It is basically a business blockchain framework that is designed to be easy and simple to integrate into infrastructural projects that require distributed ledger technology.

3. Hyperledger Fabric

– It is a permissioned blockchain infrastructure that originally contributed by Digital Asset and IBM. It provides a modular architecture with a description of roles between the nodes in the infrastructure, configurable consensus, and execution of Smart Contracts (known as chain code in Fabric).

4. Hyperledger Burrow

– It is a permissible smart contract machine.

– Hyperledger Burrow was first of its kind when released in December, 2014.

– It provides a modular blockchain client with a permissioned smart contract interpreter built in part to the specification of the EVM.

5. Hyperledger Indy

– It is a distributed ledger, purpose-built for decentralized identity.

– It provides libraries, reusable components, and tools for using and creating independent digital identities that are rooted on blockchains for interoperability.

  • Hyperledger Tools

1. Hyperledger Caliper

– This tool is one of the hyperledger project hosted by Linux Foundation and a blockchain benchmark tool, which can allow all the users to measure the efficiency of a specific blockchain implementation.

2. Hyperledger Cello

– This blockchain module toolkit of hyperledger intents to bring the on-demand as-a-service deployment model to the blockchain ecosystem.

– By doing so it can reduce the effort that is required for creating, managing and terminating blockchains.

3. Hyperledger Composer

– It is a collaboration tool for constructing blockchain business networks, stimulating the simple and fast development of smart contracts.

4. Hyperledger Explorer

– This tool is to create a user-friendly web app. It can also view, call upon, deploy or query blocks, associated data, and transactions.

– It was initially contributed by DTCC, Intel, and IBM.

5. Hyperledger Quilt

– It grants compatibility among ledger systems by enforcing Interledger Protocol.

– The Interledger protocol is basically a payments protocol.

– It is designed to transfer value across non-distributed ledgers and distributed ledgers.

  • Goals Of Hyperledger

– To create an open source, enterprise-grade, and distributed ledger frameworks to support business transactions.

– It aims at building technical communities to develop blockchain and shared ledger POCs.

  • How is hyperledger changing the business world?

– Hyperledger holds the feature of being the fastest growing project launched by the Linux Foundation.

– The growth of hyperledger has resulted in the advancement of blockchain platform fundamentals, agile development practices, DevOps capabilities, cloud engineering and network security skills.

– This open source nature of hyperledger has allowed blockchain developers from all over the globe to contribute.

  • Benefits Of Hyperledger

– It provides data privacy and confidentiality.

– Hyperledger is efficient and supports the speed of transactions.

– It has a modular design and hybrid approach.

– The hyperledger project relates to B2B scenarios.

– Its alignment with the vision is to go digital.

  • Conclusion

This is all about the Linux Foundation’s HyperLedger technology. Being a new project it has got a lot of popularity in a short time period, as it simply lets organizations to have a digital ledger which is free from all the bugs. Hyperledger users can also make sure of reliability in the modular identity services.

There are many IT organizations that have adopted this concept and are helping the users to set up enterprise-grade Blockchain deployment via Hyperledger platforms and development tools. One of the best blockchain development company is OpenXcell, the experts of this company assists its customer in defining a model by creating a business network definition which includes all logic, rules, and functions of customer’s business model, deployment of the network on hyperledger platform, creation and execution of smart contracts that can accurately start you off on a Blockchain network.

Why Is Solidity The Best Programming Language For Smart Contracts And Blockchain Development?

Solidity

Blockchain technology has fascinated the tech enthusiasts around the world with its potential to disrupt and replace established systems of transacting assets and data. Fundamentally, Blockchain is a decentralized digital public ledger of transactions, yet secure due to a distributed verification network of miners, who approve transactions using diverse high-performing machines. The blockchain technology is creating plenty of new opportunities for programmers and developers to create varied apps.

There are a handful of programming languages that can help you create Ethereum based apps for blockchain and smart contracts. Traditional programming languages like C++, Java, and Python can be used for it. Besides these languages, Simplicity and Solidity are new and more specific programming languages to blockchain app and smart contract. But from all these languages described, Solidity is the most used and preferred languages by blockchain developers. So let’s take a closer look at solidity programming languages for development of Ethereum based blockchain apps & smart contracts and know that why it is the best of all.

  • Introduction To Solidity

Solidity is a contract-oriented, high-level language for achieving smart contracts. The language, Solidity is developed by Gavin Wood, Yoichi Hirai, Christian Reitwiessner, and Alex Beregszaszi, to enable writing smart contracts on blockchain platforms. Solidity was influenced by JavaScript, C++, and Python. It is designed to target the Ethereum Virtual Machine (EVM). A large number of programming concepts of other languages are used by Solidity. For example, it has functions, classes, arithmetic operations, string manipulation, variables, and many more. This high-level language facilitates the developers to write apps that enforce self-enforcing business logic that represents in smart contracts and keeps an authoritative record of transactions. Solidity is statically typed, it supports libraries, inheritance, and complex user-defined types.

  • Solidity Blockchain Basics

  1. Solidity is mainly used for smart contracts, by making it closely related to blockchain technology.
  2. Fundamentally, blockchain is nothing but a global transactional shared database. For this transactions must be created, which needs to be approved by other members of the network.
  3. In blockchain, transaction means the changes applied to a database. These transactions are always signed cryptographically by the creator of it.

  • Relation Between Solidity And Smart Contracts

  1. Ethereum smart contracts are written by using solidity, which provides a great number of ways for allowing contracts to interrelate with other contracts.
  2. Smart contracts can be used in various forms. From the functioning to creating and diminishing of the contracts.
  3. There are a number of use cases for this aptitude.

  • Solidity By Example

Solidity helps in creating contracts for voting, crowdfunding, blind auctions, multi-signature wallets and many more.

1. Voting

  1. This example of the smart contract is quite complex but showcases a lot of solidity features.
  2. This solidity contract is about voting, as the main problem of electronic voting is to assign voting rights to the correct persons and to avoid manipulation.
  3. The sole idea of the script is that a contract is created for each ballot and providing a short name for every option.
  4. The goal of the voting contract is to make vote counting automatic and transparent.

2. Simple Open Auction

  1. It is a basic simple auction contract where everyone can send their bids during a bidding period.
  2. The sole idea of this auction is that during a set period of time, people can send their bids.
  3. If the highest bid is raised, the previously highest bidder gets his money back.
  4. When the bidding period ends, the contract has to be called manually for the beneficiary to receive his money.

3. Blind Auction

  1. The open auction is extended to a blind auction. The benefit of a blind auction is that there is no time pressure towards the end of the bidding period.
  2. In blind auction contract, once the bidding period is over, the bids have to be revealed.
  3. The blind auction contract has to deal with the challenge of combining auction binding and blind.

  • Advantages Of Smart Contracts Written Using Solidity

  1. It provides accuracy and transparency.
  2. The solidity contracts provide speed, efficiency, and security.
  3. It is environment-friendly.
  4. These contracts record essential details in each transaction.

By looking at all these things, it is proved that Solidity is by far the best language when it comes to creating a smart contract and blockchain development apps. Blockchain development companies like OpenXcell develops smart contracts for clients using solidity. These contracts are made for industries like insurance, healthcare, real estate, and banking.

Top 3 Whiteboard Animation Applications For Remote Meetings

Whiteboard Animation Applications

Whiteboard animation videos have been used in many walks of life such as for learning online to teach languages, for the public communication of academic scholarship, for undertaking remote meetings, for advertisements and for many more things. Whiteboards are the most popular tools to help people collaborate to keep track of what’s being discussed during brainstorming sessions, work on projects, and communicate complicated ideas.

The concept of a whiteboard is mostly used in conducting lively meetings with remote attendees. Whiteboard animation apps provide you a real-time collaboration with everyone. Here is the brief explanation of the top 3 whiteboard animation applications for conducting remote meetings:

LiveBoard is the perfect cross-platform whiteboard solution with rich and free and features. LiveBoard is one of the best whiteboard apps for tutoring online or for providing more interactive experience for classroom teaching. In addition to this, LiveBoard also provides meeting organizers with the ability to collaborate with an unlimited number of team members, this app also allows users to save and access an unlimited number of boards in a searchable gallery. The saved boards can be shared at any time via social media and email. LiveBoard also provides features such as instant messaging, cloud storage, and searchable archive.

RealtimeBoard is built to improve remote team collaboration, it allows remote participants to join in whiteboard sessions as if they were in the same room. The organizers of the meeting can create a whiteboard and share it with meeting attendees via a link. As everyone joins the board, all the participants of the board can see changes as it happens and can know who made the changes, which is because of the unique collaborator cursors. Users who purchase a premium account or a team can also launch and participate in whiteboard sessions via screen sharing facility. The integration of RealtimeBoard with cloud storage services, G-suite, product development and graphic design tools are created to simplify and accelerate users collaboration.

ExplainEverything is a cross-platform app and is boasting four out of five stars from its 4.2 million users. It is an easy-to-use, interactive whiteboard that enables you to animate, annotate, and narrate documents, drawings, and images. It provides import and export facility from almost anything and from almost anywhere, to its users. This real-time whiteboard app is originally designed for educators. ExplainEverything has a simple and intuitive user interface, and it also has the ability to foster collaboration in real-time between multiple users in the business world, as well. Organizers send a unique code that is generated by the app, to invite remote attendees to participate in collaboration sessions. This app is one of the best and most recommended apps by the mobile app developers.

These whiteboard animation apps are engaging and make it easy for the user to understand the topics they are learning or discussing in the meetings. Besides all these facilities of online teaching and remote meetings, the concept of whiteboard animations has become an essential element of digital marketing strategies. If any organization needs to work on complicated projects, they are likely to use new whiteboard animation apps, for marketing their product and educating users about the same. There are many mobile app development companies that develop customized whiteboard animation apps, one such company is OpenXcell. The team of application developers from OpenXcell Technolabs knows what companies need in a whiteboard and they give attention to the company’s needs to build a customized whiteboard animation application for them.

5 Finest Trends In Wearable Application Technology Of 2018

Trends In Wearable Apps Technology 2018

Ever since mobile devices overtook computers in online usage, the world began to see how different the digital marketplace might look in the near future. Majority of the companies began to shift their focus from desktops to mobile, with some taking it a step further and producing wearable gadgets that continue to change the way we think about technology. The immense growth in the usage of wearable devices results in the increase of the mobile application that supports and connects the wearable devices with the mobile devices. The wearable applications have already become one of the trends to cause digital disruption in 2018.

Here are some of the latest trends in wearable apps, that one needs to know before developing an app for the wearable devices:

  • App Interactivity

The wearable applications should add more non-visual interactive tools. For example, the wearable app developers can use vibrations and voice control as their input source.

These apps provide wonderful features to the users. Once such example is the smartwatch that can be used to draft emails, messages and so much more just by voice commands. The vibration in your wearable devices will guide you for the right turns while you are driving. The gigantic popularity of Siri amidst iPhone users speaks lengths about users’ comfort level with voice-driven apps.

  • Wearables For Beacon Technology

iBeacon is the concept of the Bluetooth-based beacon by Apple and it allows the Bluetooth devices to publicize the data within the precise span. The beacons can be treated as buttons or links to the physical world around you. Beacons are used by apps to incite events and call-to-actions, by allowing the users to interact with physical or digital things, like discounts, door locks, simple notifications, or automation systems.

  • Gaming Industry Wearable Apps

Wearables have benefited the gaming industry immensely. By looking at the popularity of Pokémon GO, it can be stated that the gaming apps that integrate the real world with the virtual world is going to get a huge demand in the years to come and the wearable apps will be playing their part. The increase in the gaming industry is observed at a rate of about three to five percent every year.

  • Wearables & IoT

The IoT technology is being combined with the wearable devices to a great extent which results in the improvement of the safety measures in industrial sectors including mining, manufacturing, transport, and oil and gas. The wearable gadgets, such as the Apple Watch, and some other smart devices by other companies, such as Google, Samsung, Jawbone, Adidas, Fitbit, Motorola, etc., will drive the market for the IoT.

  • Wearable App For Healthcare Industry

The wearable devices for healthcare can track heart rate, sleeping behavior, respiration, and a lot of other things that humans exhibit that can be monitored. This information can help medical professionals to see a better picture of what is really going on when self-report may be quite unreliable, especially in cases where cause and effect are not immediately visible. Some of the examples of such products are Fitbit, FuelBand, and Vivofit.

These are the trends that can be followed while developing wearable devices app. There are many companies that have started developing such apps in the very innovative way and are taking technology to another level. One such company for wearable devices app development is OpenXcell, that has a dedicated team of developers, who builds apps for Wearable Devices and IOT.

Smart Contract Auditing 2018: All You Need To Know About It

Smart Contract Auditing 2018

The smart contracts, also known as crypto contracts are computerized transactional protocols that execute the terms of a contract. The general objectives of smart contract design are to minimize exceptions both malicious & accidental, satisfy common contractual conditions, and minimize the need for trusted intermediaries. As the demand of cryptocurrencies has levitated dramatically over the last several years, the capabilities of blockchain have been extended to run computations on top of technologies such as Ethereum. With the increase in new opportunities, there are associated risks. So is with the smart contracts. The security vulnerabilities have the ability to result in consequential financial losses. This is the reason why auditing of the smart contract is important.

So let’s go through some more details about smart contract audit:

  • What Is a Smart Contract Audit?

A smart contract audit involves the developers who can scrutinize the code which is used to write the terms of the smart contract. The smart contract audit also allows the blockchain developers to identify any vulnerabilities before the smart contract is deployed. It is usually conducted by a third party to ensure that the code is reviewed thoroughly.

  • Auditing a Smart Contract

Smart contract auditing has two fundamental approaches to do it, i.e; Manual and Automatic code analysis. Conducting a manual analysis of the smart contract code is the best way of identifying coding problems if you have a good sized development team.

  1. Manual Code Analysis: The code review in the manual analysis will involve the team examining each line of code in order to scrutinize it for compilation and re-entrance mistakes as well as security issues. Mainly, the focus should be paid to identify the security issues as they are the biggest threat to the successful long-term implementation of your smart contract.
  2. Automatic Code Analysis: The code analysis in automation has the benefit of saving a massive amount of time for the developers when they are checking their code. Sophisticated penetration testing which helps find vulnerabilities extremely quickly, is allowed for automatic code analysis.

  • Performance Validation For Smart Contract

It is necessary to ensure that your smart contract is performance optimized before rolling it out. Quality of the code and the performance of any smart contract is directly linked to each other. This is the main reason that all smart contract audits should include performance validation.

The easiest place to start conducting a performance review is to check that the contract executes in a way that fulfills all the agreements that both parties had decided upon when entering the contract. This process is carried on by the Smart Contracts Audit services provider.

Though there are many such ways to approach a smart contract audit, the final goals of it are always the same. Any sort of audit process should ensure that the code is bug-free. There are many powerful tools that are developed to help automate the process of auditing the smart contracts. This article was a brief explanation about the smart contract audit, to get more knowledge about it or to get the best audit service for your smart contracts, you can approach the blockchain technology development team of OpenXcell.

 

3 Optimum Cryptocurrency Wallets Of 2018

TOP 3 CRYPTOCURRENCY WALLETS OF 2018

A secure digital wallet that is used to send, receive and store digital currencies like Bitcoin, Ethereum, and Litecoin, is known as the Cryptocurrency wallet. It is more like a bank account where your coins or tokens are stored. Majority of the coins have an official wallet. Cryptocurrency wallets can be based on a platform, currency type, private key storage method, and access. There are cryptocurrency wallet developers, who try to develop new and innovative mobile-based, web-based and hybrid wallets for cryptocurrency with the latest features.

There are dozens of such online wallet options available for the cryptocurrency, here are the top 3 of them:  

  • Ledger Nano S

Ledger Nano S is a USB sized hardware cryptocurrency wallet which is specially designed with a small LCD screen on it. It is not a plug and play device, which means that it does not require a computer or system to use this wallet. The small LCD screen designed in the front of the wallet, allows you to operate your cryptocurrency wallet with fewer efforts. Ledger Nano S comes up with some amazing functions like transaction, exchange your digital currency, transfer money from one account to another account within seconds, and use the related apps.

Features Of Ledger Nano S

  1. Built-in Display: The LCD screen shows you the transaction for the confirmation and verification purpose.
  2. Security: There are multiple options available including the option to lock your wallet with a PIN code.
  3. Easy to operate: Though the size of this beautiful hardware wallet is small, there are buttons on it to operate which are very comfortable to use.
  4. Restoration & Backup: Ledger Nano S provides with a recovery sheet while the restoration process is easy and fast.

  • Coinpayments

It is a web-based cryptocurrency wallet, which became popular after it allowed more than 300 currencies to be stored in its wallet account. Coinpayments is one of those online wallets whose payment is now accepted by hundreds of online stores, which makes it a digital currency from your coinpayments wallet account to purchase online things other than just using it for the commercial purpose.

Features Of Coinpayments

  1. Mobile App: Although it is a web-based online wallet for the cryptocurrency, it does have mobile apps, which makes it a semi-mobile wallet.
  2. Multi-coin wallet: As it allows you to store multiple digital currencies in your account, there is no need to create multiple accounts on different wallet websites.
  3. BitGo integrated: The integration with BitGo is to provide a secure online wallet to the users, where it also makes the payment fast especially Bitcoin payments.

  • Jaxx

Being a mobile-based cryptocurrency wallet, Jaxx works on windows and other operating systems in the same way it works on mobile phones. It is not only created for cryptocurrencies but also for all other digital assets to get stored. Jaxx provides the majority of its features that are similar to other wallets, but also provides some exclusive features to its premium user.

Features Of Jaxx

  1. Easy to use: Normally the online wallet accounts need to follow many steps to make a transaction but that is not the case with Jaxx. It is easy to use Jaxx, as its UI is user-friendly. Its privacy model is based on Nada privacy model.
  2. Exclusive design: Jaxx mobile app has dozens of new features and options which can be easily seen because of the simple but stylish design.

These are the most used top 3 cryptocurrency wallets. The cryptocurrency wallet development is done by keeping security in mind, for more updates on it, you can even contact the blockchain development team of OpenXcell.

 

Smart Contract: Build Your With 4 Easy Steps

BUILDING A SMART CONTRACT

The virtually encoded contract in blockchain is known as the smart contract. It is basically a computer protocol intended to verify, digitally facilitate, or enforce performance or negotiation of a contract. It consists of a set of tasks that has self-executing nature and it can even automatically keep track of the terms of an agreement. A smart contract cannot be altered by any party, once it is hosted on the blockchain. Most of the smart contracts are made on Decentralized Application (DApp) platforms such as Lisk, Cardano or Ethereum.

The smart contracts can become a bankable skill for Smart Contract Developers that know how to build them. Smart contracts aren’t surprisingly hard to build and to build it more easily, here are the step by step ways to create your own smart contract:

  • Plan Your Smart Contract

The decision of what you want to facilitate is the first thing that comes in discussion while making your smart contract. The blockchain technology comes with many things, two of them being facilitating transactions and keeping track of information.

Here to know about planning a smart contract, let’s take an example of an event ticketing. When we talk about ticketing, it has huge issues with scalpers buying up a ton of tickets with people using fake tickets. As the result of this, a simple line of code in the contract can cap ticket resale prices. This can prevent the scalpers from buying a bunch of tickets as selling them can be profitless. Unique tokenized tickets can be generated by using smart contracts, that can be owner specific and can’t be forged.

  • Decentralized Application Platform Options

After planning the smart contract, the next thing to do is to choose is which decentralized application platform to build the contract on. Let’s compare three best DApp platforms:

  1. Ethereum: It is the most established and largest platform. Ethereum provides an active user base and in any kind of development, to have an active community to answer your question is the key to finishing your product.
  2. Lisk: It is a DApp platform that is based on Javascript. It has its own DApp store where you can publish your app when finished.
  3. Cardano: It is built by the founder of Ethereum and has a large and impressive team.

  • Building Of A Smart Contract

When we talk about solidity, it is more intimidating than it actually sounds. The striking resemblance of it with JavaScript class is the first thing that comes to notice. There is some difference like requirements of semicolons and the use of hashing functions. Unique keys and mapping those keys with other variables is done by the hashing functions. If you opt for Ethereum for building your first contract, it is can give you an interactive environment to deploy your contract and interact with it from different Ethereum accounts.

  • JavaScript Connection

The most difficult and challenging part of working in solidity is the integration of your contract with JavaScript. This process can be carried on by using Truffle framework. Truffle framework provides its own RPC, an isolated Ethereum test network, called Ganache. You will be provided with JSON, in this process which you can call using the addresses of your test network through your JavaScript app.

By following the above simple steps you can create your own smart contracts. To get more insight into it, you can contact the Blockchain Smart Contract Development team of OpenXcell.