THE BLOCKCHAIN TECHNOLOGY
Blockchain is basically a distributed database that keeps shared records. These records are blocks, and every block of encrypted code has a record of the block history before it. Each block includes time-stamped information on the transactions made down to the second. The effect is a chain of those blocks to get them together; hence, its name.
A blockchain has two major components: an immutable ledger that the network keeps, and a decentralized network verifying and facilitating transactions. Everyone with access to the network could see this shared transaction data, but there is no possibility that the records can be corrupted or hacked. This decentralized trust means there is no one organization that controls the data, be it a tech giant or a big financial institution.
THE CHALLENGE OF BLOCKCHAIN
Blockchain technology has the potential to revolutionize the world the same way the internet did- maybe even better. Nonetheless, most real-world businesses have been slow to adopt this technology because of the scalability issue currently associated with.
Leading Blockchain networks such as Ethereum and Bitcoin have trouble supporting massive transactions on their network. Network congestion here often results to slow transactions and an increase in transactions fees.
STELLAR BLOCKCHAIN
Stellar is a payment transfer protocol which executes cross-border payments by the usage of multiple currencies including its own cryptocurrency, Lumens (XLM).
Apart from being a payment transfer platform, Stellar also works acts a development solution for non-complex applications through simple smart contracts.
This means that while dedicated development solutions such as Turing complete Ethereum and NEO could provide capabilities that are used to develop complex applications, Stellar provides that functionality for basic yet faster development solutions.
Stellar has its own consensus algorithm by the name of Stellar Consensus Protocol (SCP).vThis new protocol eradicated the use of any mining operations for the verification of transactions. The algorithm instead sought consensus through communication between servers that complete the process in a few seconds.
By basing these operations on a blockchain-based distributed ledger technology (DLT) and not being solely dependent on blockchain technology itself, Stellar set itself apart from most of the other cryptocurrency networks due to being faster than them.
SEYBLOCK: A P2P ONLINE PAYMENTS SYSTEM ON STELLAR
Seyblock, https://www.seyblock.com/, is a stellar based P2P version of electronic cash scalable and friendly to use would allow online Payments to be sent directly from one party to another without going through a financial institution. This is achieved with a consensus mechanism that is based on the Stellar Consensus Protocol (SCP). Seyblock vision is to provide the best Escrow service to prevent scams and provide people with better service, solving the problems of scalability and increasing transactions per second.
Implementing Stellar Lumens technology Seyblock make it easy to move digital assets around the world, quickly, reliably and also empowering the true vision of Satoshi’s views to make crypto/digital currencies even more stronger. Seyblock aim is to provide a global solution of the Bitcoin and Ethereum scalability issues.
Seyblock is scalable enough to sustain active operation of transactions with a limited supply of 30 million coins in existence ever, while the military-grade security of the Platform ensures the stability of the network. Furthermore, each transaction within the Seyblock Platform, is cheap. The transactions promptly arrive at the desired destination at a rapid speed.
4 PLATFORM IN ONE PROJECT
Seyblock platform will provide 4 key services, including:
ESCROW SERVICE
Seyblock Provide an escrow system, where users can easily trade with someone to exchange their coins/tokens and products securely from scammers. The platform is totally based on stellar blockchain and linked on Coinmarketcap API.
TRACEABLE
Seyblock enable users to track their transaction within the platform.
ANONYMOUS
The transaction between the Seyblock users will be done anonymously.
NEWS PLATFORM
Seyblock is also providing a news services. In news platform, Seyblock allows writers to put quality news about crypto and local news. It will be decentralized news platform. That no one will know who is writer and who the viewer is.
For more information about SEYBLOCK, visit the following links:
Profile Link: https://bitcointalk.org/index.php?action=profile;u=2053245
Wallet Address: GCYIPNXRSWEDOTKQWKH2RNWMB5MJJXK62366ZEFXSGJ4W4WNPWYSDPRT
For more information about SEYBLOCK, visit the following links:
Website: https://www.seyblock.com/
Whitepaper: https://www.seyblock.com/whitepaper_v1.pdf
Facebook: https://www.facebook.com/seyblocksey
Twitter: https://twitter.com/seyblock
Telegram: https://t.me/seyblock
About Author:
Forum Username: binar234
Profile Link: https://bitcointalk.org/index.php?action=profile;u=2053245
Wallet Address: GCYIPNXRSWEDOTKQWKH2RNWMB5MJJXK62366ZEFXSGJ4W4WNPWYSDPRT
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