Easy To Choose Your Blockchain Software Development Company Malaysia
Blockchain
Smart contracts were first proposed in 1994 by Nick Szabo, an American
computer scientist who invented a virtual currency called "Bit Gold"
in 1998, fully 10 years before the invention of Bitcoin. In fact, Szabo is
often rumoured to be the real Satoshi Nakamoto, the anonymous inventor of
Bitcoin, which he has denied.
Szabo defined smart contracts as computerized transaction
protocols that execute the terms of a contract. He wanted to extend the
functionality of electronic transaction methods, such as POS (point of sale),
to the digital realm.
“Hyperledger is an open source collaborative effort created
to advance cross-industry blockchain
technologies. It is a global collaboration, hosted by The Linux Foundation,
including leaders in finance, banking, Internet of Things, supply chains,
manufacturing, and Technology.”
We’ve all heard about the benefits of smart contract
technology - a trustless tool to boot out the middleman when exchanging money,
assets, or anything of value. As revolutionary as blockchain’s latest buzzword
may be, smart contract bugs are causing untold chaos.
Smart contracts are self-executing contracts with the terms
of the agreement between buyer and seller being directly written into lines of
code. The code and the agreements contained therein exist across a distributed,
decentralized private
blockchain network. Smart contracts permit trusted transactions and
agreements to be carried out among disparate, anonymous parties without the
need for a central authority, legal system, or external enforcement mechanism.
They render transactions traceable, transparent, and irreversible.
Blockchain & Smart Contracts: Opportunities
Certainty of code
Cost effectiveness of
repetitive low value transactions
Increased competition
by breaking down monopolized financial systems
A truly
interconnected world, removing inefficiencies between systems
Decentralization cryptocurrency
development reduces the risk of permanent data loss and corruption
Transparency may
assist effective regulation of markets
Faster settlement of
trades, and the removal of multiple layers of book entries
Are you in blockchain technology and thereby developing a cryptocurrency?
But failed to raise proper funds to sustain and live through the tough round of
initial period? Obviously, you might be in great distress to move on your
cryptocurrency based venture. You could potentially make use of ICO development
services offered by Crypto Soft
Malaysia to survive such instances. We brainstorm and offer reliable ideas
on Blockchain technology.
Thanks for reading our content. To know more about our
services, please visit our website:
Crypto Soft Malaysia
Mr. Mohammad Yousaf
cryptosoftmalaysia@gmail.com
Unit 3, Level 22, The Gardens South Tower, Mid Valley City,
59200 Kuala Lumpur.
+60 1116409615
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