Ampcus – Blockchain: An Unapparent Technology That’s Revolutionizing the World
What is Blockchain?
A Blockchain is an undisclosed online ledger that would simplify the transactions by using the structures of user data. Blockchain allows users to wield the ledger in a secure way without the help of a third party interaction.
The Blockchain concept came into the existence around 2008 that evolved from the heart of Bitcoin. The blockchain is an open, distributed register that can transcript transactions between two individuals effectively, such that they are verified and this process is crystal-clear and resistant in the digital world of records. The same register can also automatically run through the transactions executed as through a program.
Using this technology, Private and Government sectors can subscribe to a trusted network which would pave the way for the individuals to share information easily with the fact that only the members could see it, and the information couldn’t be edited once it’s been given as an input. All the bank’s ledger is interlinked to a centralized network. However, a Blockchain has a secure way to protect the identities of the users, which is indeed simple to carry out transactions.
Blockchain @ Ampcus Inc.
We are a Start-to-finish partner in Blockchain technology for our clients. We bring admired and well-deserved consulting services to clients on Blockchain technologies, construct decentralized networks and optimized solutions leveraging our excellence and a formidable Blockchain assist teams. We take clients’ requirements into consideration and deploy proof-of-concepts on Blockchain technologies and would take them to production incrementally in releases. Our Blockchain consulting teams regularly educate clients, partners on the power of Blockchain for today and tomorrow.
Ampcus optimized solutions for Blockchain – For Present and Future
Ampcus centralized technical Blockchain team uses an algorithm that would verify the transactions thus, reduces the dependency on people for verification. This approach by our team results in recording various transactions that have the potential to rattle the financial system.
Ampcus immutable “ledger” in Blockchain is verified, visible, and controlled by industry experts. At the same time, we would hold the records or digital assets secure and cannot be hacked or tampered as it has no single point of failure. As Ampcus uses this distributed-ledger technology, every kind of digital record and transaction applications are deployed across Blockchain.
Ampcus Blockchain workshop: Analyze – Develop – Test
Ampcus uses the existing Blockchain leading networks. Hence, when members of this network make a transaction every time, it needs to be verified and validated so as to ensure that there is no risk of double spending for every transaction between two individual accounts occurring within the network.
Our Miners who are also members of the network carries this process of verification. To verify the transactions, our miner’s use an exclusive software which is specialized to increase the processing power of the computers, the processing power required to do so is quite gigantic. As a part of verification process, our miners use bandwidth and electricity, which are indeed compensated.
Now, the original Blockchain process begins, every few minutes’ miner creates a ‘block’ of all the transactions occurring over the Bitcoin network. Essentially a copied record of all the transactions that have occurred in the network over the past 10 minutes is created by miner which also holds a verified transaction file. The miner assures that there is no problem of double spending and each transaction is carried out between 2 parties only within the network, by using the computational power of the miner’s computer.
For this, the miner is compensated in Bitcoins. This is where the difference in the normal fractional banking and math’s of the currency occur. There is a fixed amount of 21 million that the total amount of Bitcoins that can ever exist. The payment made to the miner is much like mining currency out of a reservoir, as the quantity of money is fixed.
Each block is linked to the previous block of transactions, as each transaction in every block is made at a specific time. By organizing these blocks a Blockchain is formed. The organizing of blocks happens as per the protocol instructed by the algorithm underpinning the creation of Bitcoins, this protocol is defined as the Blockchain protocol.
Ampcus Benefits of Blockchain – A Mystification or The Next Big Opportunity?
- Non-Interference & Unreliable exchange – Two individuals can make an exchange without the oversight or interference of a third party, strongly diminishing or even eliminating counterparty risk.
- Empowering the users – All the Users have total control of all their information and transactions processed.
- High quality data – The data with Blockchain is thorough, Steady, up-to-date, authentic, and universally available.
- Endurance, Authenticity, and long-lasting – Blockchain does not have a possibility for a central point of failure and is stable to withstand malicious attacks, all due to the decentralized networks.
- Trustworthy process – Third party interference is completely terminated as users can have a complete trust with all the transactions executed according to protocols initiated by the algorithms in the system.
- Transparency – Changes are done to any public Blockchain are openly visible to all members creating transparency, thus all transactions are transparent, that they cannot be edited or deleted.
- Ecosystem simplification – Single public ledger holds all the transactions, it reduces the confusion and complications of multiple ledgers.
- Faster transactions – Blockchain transactions would perform in minutes, reduces transaction times and are processed 24/7, which intern results reduce interbank transactions can potentially long time for clearance.
- Lower transaction costs – Blockchain has a serious impact on the reduction of transaction fees, as the third party interference is eliminated.
Learn more about implementing Blockchain, Contact us at email@example.com