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Crypto_Frau

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  1. So far, interest in the blockchain was more often related to the finance area. However, there are a lot of spheres in its application. In this article, we will consider several interesting areas for blockchain implementation. Authorship and ownership Modern patent services do not work as well as it should be. The blockchain technology allows artists to confirm and preserve the right of authorship. For example, one can create digital editions using unique identifiers and digital certificates to verify authenticity. In addition, there is a mechanism for transferring ownership from the artist to the buyer or collector, including all legal aspects. Data management There are a number of projects that are used to implement a database management system and data analysis based on the blockchain technology. Businesses, governments, and any non-profit organizations can use blockchain to simplify the procedures for keeping records, capturing information about business processes etc. Since the records are stored in the blockchain system, it reduces the costs and complexity of data management. Digital identity, authentication, and authorization A number of blockchain projects use the system in solutions designed to identify and confirm access rights. Decentralized distributed registries can be used to store any types of data and perform various transactions in a safe and clear way. Besides, the creation of identity in the detachment can give individuals greater control over access to their personal data. The combination of decentralized blockchain and identity verification tools allows creating a digital certificate that plays the role of a watermark. Means of e-voting Blockchain technology can be used to develop and implement a secure and transparent platform for anonymous online voting. It can ensure the accuracy and reliability of the results. The introduction of a state digital voting platform will reduce the level of falsification during elections. Also, with the help of this technology, it is possible to introduce an electronic identification system (such system is currently functioning in Estonia) allowing all owners of the corresponding identification cards and digital keys to access a wide range of government, banking, and other services. Gambling and video games Blockchain technology is also particularly popular in the gambling and video games industry. For example, there is a platform that allows players to challenge each other in various game disciplines, bet or judge games, to organize tournaments and receive rewards from such activity. Organization of private and public administration Blockchain can be implemented not only to increase the transparency and integrity of political systems. Technology can also improve the interaction of citizens with state representatives, establish access to legal (marriage, registration of legal entities, notary) and economic services (basic income, financial transactions). Also, the blockchain can be used for effective management within organizations, automation of the formation, financing, and management of the company. The system can also improve the organizational workflow. Advertisement Finally, blockchain finds its implementation in the advertisement. For example, DAN Service (https://dan-service.com/) is a decentralized advertising platform based on Ethereum blockchain and smart contracts. In its network, the focus lies on the ease of advertising and its the transparency. Advertising will be equally easy to give both online (on a variety of sites), and offline (running lines, electronic banners and other types of offline electronic media advertisement). Use of the blockchain system will allow users of the network to independently choose and evaluate advertisement. In addition, blockchain implementation will improve the regulation of interactions between the advertiser and the customer.
  2. Cryptoeconomics is inherently a combination of economics and cryptography. Bitcoin, Ethereum, and all other public blockchains are products of crypto economics. The creator of Bitcoin Satoshi Nakamoto said that thanks to a smart combination of cryptography, network theory, informatics and economic incentives, the mankind can create new technologies. Let’s consider crypto economics using bitcoin as an example. Bitcoin's innovation lies in the fact that it allows many actors who do not know each other to reliably reach a consensus on the condition of the bitcoin system. It is achieved by combining economic incentives and basic cryptographic tools. Economic rewards are used to attract miners to support the network. Miners participate in mining using their equipment and electricity. If they produce new blocks, they are rewarded with some bitcoins. Economic costs or fines are part of Bitcoin's security model. The most obvious way to attack Bitcoin's blockchain is to gain control over the larger hashing of the network - the so-called "51% attack". It would allow an attacker to reliably censor transactions and even change the past state of the block. However, gaining control over the power of hashing costs money will require a lot of equipment and electricity. Bitcoin's protocol deliberately makes mining time-consuming, which means that gaining control of most of the network is extremely expensive - enough to make the profit from the attack very difficult. If mining did not have a high cost, it would be easy to launch a "51% attack". If there was no reward for mining, there would not be miners who buy equipment and pay electricity to contribute to the network. Bitcoin also uses cryptographic protocols. Cryptography using public and private keys is used to provide people with secure, exclusive control over their bitcoins. Hash functions are used to "link" each block in Bitcoin's locker, checking the order of events and the integrity of the previously recorded data. Cryptographic protocols give us the basic tools needed to create reliable, secure systems, such as Bitcoin. Without strong cryptographic protocols, such as hashing functions or cryptography with public and private keys, we would not have a safe accounting unit to reward miners. Without a carefully calibrated set of incentives to reward miners, such unit could not have a market value. Most of us are not used to thinking about money as a design or engineering task. In addition, we are not used to developing economic incentives that are an integral component of the new technology. Cryptoeconomics requires us to think about the problems of information security in the economic sense. Consequently, crypto economics is an interdisciplinary approach. The term crypto economics can be misleading because it involves a comparison with the economy as a whole. Cryptoeconomics is not an application of macroeconomic and microeconomic theory for crypto-currency or markets. Cryptoeconomics, like the design of mechanisms, focuses on the design and creation of systems. As in our example, we use economic theory to develop "rules" or mechanisms that create a certain equilibrium outcome. However, in crypto-economics, the mechanisms used to create economic incentives are built using cryptography and software. Furthermore, the developed systems are almost always distributed or decentralized. Most often, crypto economics is used to provide a security guarantee for a distributed system. The use of an interdisciplinary approach in crypto economics has ample opportunities for the global community. For example, the DANs token, which is based on the Ethereum blockchain, uses cryptography within the advertising network to sell or purchase an ad slot/time (https://dan-service.com/). The owners of advertising space will be able to set the price in DANs tokens for a certain time of advertising. When the owner of the advertising space accepts the application, the tokens will be frozen until the owner proves that the task is completed, or the time for displaying the advertisement does not end. At the same time, the advertiser has the right to refute the payment for advertising, if it does not correspond to the declared quality until the tokens are frozen. Tokens are transferred to the balance of the owner after the advertiser checks the quality of advertising. Some actions on the network will be stimulated by creating additional tokens, which will be transferred to the person who performed the action. It will ensure a slow inflation of the token so that there are enough tokens in the turnover for a healthy and efficient network operation. Consequently, economic rewards are used to support the network.
  3. The Internet made the transaction of money much more convenient. It has significantly simplified the online purchase or trading of securities. However, out-of-date systems of financial transactions considerably complicate the transfer of financial assets. Furthermore, these systems are also not secure enough. The restructuring of the main business operations with the help of blockchain technology enabled the introduction of new forms of digital interoperability. Despite the fact that blockchain is most often associated with cryptocurrency, the possibilities of the system are not limited to this. Blockchain technology has several important advantages: 1. System Reliability Since the data structure using this technology allows users to make and verify transactions without the involvement of third-party developers, it greatly reduces the risk of unauthorized interference. 2. Transparency The data structure in the blockchain system allows monitoring of all information by users. Blockchain data is complete, accurate and consistent with all members, and changes to the public blockchain are available to all members. 3. Transaction speed The Blockchain system has reduced the transaction time to minutes compared to interbank transactions, which require several days. In addition, it allows the processing of data around the clock and without output, which can significantly increase the efficiency of many branches. 4. The reduction of transaction costs The blockchain system can be used by banks to reduce transaction costs and provide better products. However, its opportunities go beyond the scope of banking. The blockchain technology can modify the processes in security systems, healthcare, production, entertainment and others industries. Advantages of the blockchain system can be analyzed using the example of the DAN Service project (https://dan-service.com/). First, the decentralized advertising platform will benefit from the blockchain system, as it can reduce the number of intermediaries from the advertiser to the already placed advertisement in the media. Secondly, it will allow automating the system of censorship and reporting. Blockchain also provides a universal set of data for analysis, which can be used by any advertiser. Thirdly, the decentralization of advertising will improve the quality of advertising, reduce the level of fraud and increase the conversion, and hence the profit of advertisers. Fourth, this will make it easier to pay for advertising. Finally, the use of bots and decentralized mobile applications are becoming increasingly popular nowadays. The blockchain technology will allow the advertising business to use such tools. Consequently, the technology is universal, and also has a number of undeniable advantages for various industries.
  4. The blockchain is a continuous sequential chain of blocks containing information, built according to certain rules. The technology implies a decentralized database, which is controlled and maintained by the crowd. Each "block" is a series of transactional records. These records are created by a distributed network of computers. During their creation, each record is connected to the previous record in the chain, thereby creating a chain of blocks. Complex calculations are used to verify them. This, in turn, requires the presence of powerful computers that are expensive for ownership, operation, and cooling. The term first appeared as the name of a fully replicated distributed database implemented in the Bitcoin system. Consequently, the block is often referred to various crypto-currencies. However, the technology of blockchains can be extended to any interconnected information blocks. Bitcoin became the first application of blockchain technology, combining the classic idea of a mutual distributed register with a fully digital currency that was not controlled by any person or organization. Blockchain technology allows distributing of digital information, rather than its copying. Nowadays, the world community is finding other potential uses for this technology. Blockchain technology is similar to the Internet, because it has built-in reliability. By storing blocks of information that are identical in their network, the block chain can not be controlled by any individual object. The transparency of the blockchain system is determined by the state of consensus, which automatically checks itself every ten minutes. Consequently, the network negotiates each transaction in ten-minute intervals. Each group of these transactions is called a "block". The network of so-called computational "nodes" constitutes a block-chain. Each node is the "administrator" of the chain of blocks. In addition to Bitcoin, another popular cryptocurrency is the Etherium. Ethereum is an open source blockchain project. This is the platform for creating decentralized online services based on the blockchain, working on the basis of smart contracts. It is on the platform of the Etherium that various types of crypto-currencies are being created at the present time. For example, a DANS project based on Ethereum's blockchain and smart contracts allow creating a decentralized advertising platform (https://dan-service.com/). The DANS platform will use the advanced technology of blockchain and smart contracts to get rid of the excessive complexity and confusion inherent in the current advertising networks. The advertising network will be managed exclusively by users. The DAN Service network will use the DANS token for the sale or purchase of advertising space/time. The owners of advertising space will be able to set the price in DANs tokens for a certain time of advertising. When the owner of the advertising space accepts the application, the tokens will be frozen until the owner proves that the task is completed, or the time for displaying the advertisement does not end. At the same time, the advertiser has the right to refuse the payment for advertising, if it does not correspond to the declared quality until the tokens are frozen. In this way, the blockchain system opens up revolutionary possibilities for different industries.
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