Blockchain Mining: Everything You Need to Know

Blockchain Mining: Everything You Need to Know

Are you curious about Blockchain mining and its potential profit? This article will explain what Blockchain mining is and how it works.

Blockchain is more than mining. Learn more about Blockchain Technology by visiting the Live Blockchain Training.

These are the topics I’ll be covering in this article:

Why Mining?

There is no reason why anyone does something. Technology is one example of this. You would either do it because it is interesting or you make some money. There are two questions that can be answered by the question Why mining?.

  1. What makes Blockchain mining possible?
  2. Blockchain Mining: Why is it necessary?

Why would someone mine Blockchain?

Money! Mining Blockchain can bring you money. How much? It all depends on how much you can mine. Mining requires certain resources, such as Computational Hardware and Cooling System, Maintenance, and Electricity. Your mining setup will have a greater mining capacity and can generate more income.

To give you an idea of the cost of mining a Bitcoin in different countries, I have listed it below

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India $3,274
Singapore $5,936
United States $4,758
United Kingdom $8,402

This link will provide more information about the mining costs in different countries.

Mining Blockchain is a lucrative business. Why would you want to get paid to mine Blockchain? Because mining is essential for Blockchain integrity, and mining contributes to that. Wondering how? That leads us to the next question.

Why Blockchain Mining is Necessary?

Blockchain Technology places fraud prevention at the forefront. Only after a transaction is verified, it will be added to Blockchain. This is done to stop fraudulent transactions. Mining is what validates the transactions. When I say that you get paid to mine Blockchain, it means you are actually getting paid for verifying transactions.

Let’s now see why Blockchain Mining is so important.

What’s Blockchain Mining?

Blockchain Mining is a method to verify new transactions. Different Blockchain implementations have different validation methods. This blog will show you how Bitcoin Mining works. All miners involved in mining receive a mathematical problem when a new Blockchain transaction occurs. This mathematical problem, which is based on Brute-force and the hash algorithm, is very difficult.

This problem can only be solved by looking at every possible solution. There are no shortcuts. The only requirement for finding the solution is intelligence. It just takes faster computational speed. Proof-of-Work is the solution to this mathematical problem. As the name implies, the Proof-of-Work is the proof that the miner spent the effort and time to find the solution. Blockchain mining is a complex process that requires many resources. The miner gets a reward for dedicating their time and resources to this task: Mining reward

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Let’s now see what Blockchain Mining actually is.

What is Blockchain Mining?

Blockchain Mining is difficult to do with a normal Desktop. It requires special hardware that can run faster. There are two main ways mining can occur: Individual Mining and Mining Pools.

Individual Mining

Each miner will register for mining and set up his hardware. All the miners within that Blockchain network get a mathematical problem when there are new transactions. The hardware of the miners starts to work on the solution. All miners are informed by the first miner who has discovered the solution that he found it. To avoid false validation of Blocks, the other miners verify it. After the miner has verified the solution, the reward is given to him and the transactions are added into the Blockchain.

Mining Pool

Sometimes, one miner may not have the resources necessary to mine the Blockchain. A Mining Pool is formed when a group miners join forces. This group of miners pool their resources to mine Blockchain faster. The Mining Pool receives the problem, and if it is solved successfully, they get the reward. The reward is split between miners based on the amount of resources they contributed.

This is how Blockchain mining works and the rewards that miners receive. I hope you found this blog useful. Explore the different methods of Blockchain mining.

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Got a question for us? We will respond to your question via Edureka Community.

Learn Blockchain Technologies and make a career out of it with our Blockchain Course. This course includes instructor-led live training as well as real-world project experience. This training will allow you to understand Blockchain in a comprehensive manner and give you the tools you need to master it.

source https://www.edureka.co/blog/blockchain-mining/

Ethereum Tutorial – An Indepth Look at Ethereum!

Ethereum Tutorial – An Indepth Look at Ethereum!

Ethereum Tutorial

This Ethereum Tutorial blog will cover the architecture of Ethereum and show how it is implemented through a simple smartcontract.

Ethereum is a programmable blockchain I believe will be used by the majority of B2C enterprises in the future. Ethereum allows developers to create complex models that can be executed on the blockchain. This is in contrast to the Bitcoin blockchain which restricts them to predefined operations.

This approach has made Ethereum a platform for many decentralized applications and organizations, including crypto-currencies.

Through the “Ethereum Tutorial”, I will be covering many topics in an extensive manner. These topics include:

This recording of Ethereum Tutorial may be viewed. Our instructors have discussed the topics in detail with real world problems and projects that will help you better understand this concept.

Ethereum Smart Contracts

 

 

Ethereum Tutorial. Ethereum Accounts

There are two types of Ethereum accounts:

  • External Accounts
  • Contract Accounts

These accounts, both Contract and External, are called “state objects” in the ethereum system and constitute the “state”. Each state object has its own state. The state of external accounts consists of the balance, while contract accounts are defined by the balance and memory storage.

External accounts will be simply referred to as accounts. These accounts are managed by external agents who are made up of all users, miners and automated agents.

These accounts can be managed using public key cryptography algorithms such as RSA. External accounts are used to allow users to interact with Ethereum Blockchain.

Contract accounts are code collections that reside on the blockchain at a particular address. These contracts can be invoked by external accounts or other contracts via a specific call to-action function. These contracts are written using high-level scripting languages such as Solidity, Serpent, or LLL. Each contract stored on the Ethereum blockchain is saved in an EVM (Ethereum Virtual Machine), bytecode, which is a specific binary format.

It is fair that I now explain EVM after I have already explained EVM-bytecode.

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Ethereum Tutorial

In a simple way, Ethereum defines a group of generalized protocols that have been the foundations for the development decentralized applications. The Ethereum Virtual Machine is at the heart of all this. This diagram explains the architecture.

 

Important to remember that the Ethereum Virtual Machine is completely isolated and sandboxed. The EVM is completely isolated, meaning that any code running at the moment has no access to either the network or the files system. However, it can access some other contracts.

Let’s now look at the network nodes.

Ethereum Tutorial The Ethereum Network

The ethereum blockchain network is a public network of blockchains. It is the foundation of all peer-to-peer decentralized applications and organizations that run on the network. There are two types of nodes in the network: full nodes or light-weight nodes.

Full Nodes include the complete history of transactions from the genesis block. They provide a complete proof of the network’s integrity. Each transaction must be contained in full nodes that have been verified to conform to the Ethereum specifications.

The light-weight nodes only have a subset the whole blockchain. These nodes are most commonly used in ewallets, which must be lightweight in nature so that the entire blockchain can be stored on them. These nodes do not verify each block or transaction and they may not have a copy the current state of the blockchain. They depend on full nodes for missing details or functionality. The advantage of light nodes is that they can get up and running much more quickly, can run on more computationally/memory constrained devices, and don’t eat up nearly as much storage.

Each public blockchain is linked to a currency. Ethereum is no exception. Let’s look at Ethereum’s cryptocurrency.

Ethereum Tutorial: Ether and Gas

The name of the crypto-currency Ether used to pay for transactions on ethereum is “Ether”. Apart from being used for transactions, Ether can also be used to purchase Gas which, in turn, is used for computation within EVM.

Ether is the metric unit. It has many denominations that can be used to accurately pay for transactions or gas. Wei is the smallest denomination, also known as a base unit. Below is a table listing the denominations and their names.

Units Wei Value Wei
Wei 1 wei 1
Kwei 1e3 wei 1,000
Mwei 1e6 wei 1,000,000
Gwei 1e9 wei 1,000,000,000
microEther 1e12 wei 1,000,000,000,000
milliEther 1e15 wei 1,000,000,000,000,000
Ether 1e18 wei 1,000,000,000,000,000,000

We know that EVM runs the code that is installed on its network, as we discussed previously. What’s the stopping factor for someone running an endless loop on EVM, causing it to overload its memory? Gas is the answer to this problem.

Gas is used to pay for computing resources on the network. Each contract on the network is limited in how much gas it can use to compute. This is called the ” Limit“. Other terms that are associated with gas terms include:

  • Gas price: This represents the cost of gas using tokens such as Ether or other denominations. Gas Price is a floating price that helps to stabilize gas’s value. It can fluctuate with currency or token costs, but the Gas Price will remain the same.
  • Gas Fee – This is the cost of gas to execute a specific transaction or program (called an agreement).

If someone attempts to run code that runs forever then the contract’s gas limit will be exceeded and the entire transaction will be rolled back.

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Let’s now look at how new currency is created.

Ethereum Tutorial

Ethereum, like all other public blockchain technologies, ensures security via an incentive-based model. This is known as a proof of work mechanism. This figure shows you how ethereum mining works.

 

Technically speaking, Ethash is the proof-of work algorithm. It is an algorithm that uses a hashing algorithm inspired from the Dagger-Hashimoto algorithm.

Let’s now look at a real-world problem, and discuss the ethereum approach.

Ethereum Tutorial: A Decentralized Crowdfunding Use Case

Problem Statement A great idea is not enough to make a business a success in today’s market. To implement an idea, it takes a lot of effort and funding. Organizations like “Kickstarter”, can help with this. These organizations provide public exposure for projects to raise funds towards the project’s success. However, the central architecture of such a motive can have its downfalls, especially in the way rewards are managed. Systems are susceptible to rules such as:

  • Anyone who missed the deadline cannot enter the campaign again
  • Any donor who changes their mind cannot get out

Approach:

As shown in the image below, we use a decentralized approach to solve the problem.

 

Solution:

For the above problem statement, here is the solidity smartcontract.

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pragma solidity ^0.4.16; interface token  function transfer(address receiver, uint amount);  contract Crowdsale { address public beneficiary; uint public fundingGoal; uint public amountRaised; uint public deadline; uint public price; token public tokenReward; mapping(address => uint256) public balanceOf; bool fundingGoalReached = false; bool crowdsaleClosed = false; event GoalReached(address recipient, uint totalAmountRaised); event FundTransfer(address backer, uint amount, bool isContribution); /** * Constrctor function * * Setup the owner */ function Crowdsale( address ifSuccessfulSendTo; // the address of the owner when funding is successful uint fundingGoalInEthers; // target amount to raise uint durationInMinutes; //given time uint etherCostOfEachToken; //cost of equity in ether address addressOfTokenUsedAsReward; //token address )  beneficiary = ifSuccessfulSendTo; fundingGoal = fundingGoalInEthers * 1 ether; deadline = now + durationInMinutes * 1 minutes; price = etherCostOfEachToken * 1 ether; tokenReward = token(addressOfTokenUsedAsReward);  /** * Fallback function * * The function without name is the default function that is called whenever anyone sends funds to a contract */ function () payable  require(!crowdsaleClosed); uint amount = msg.value; balanceOf[msg.sender] += amount; amountRaised += amount; tokenReward.transfer(msg.sender, amount / price); FundTransfer(msg.sender, amount, true);  modifier afterDeadline()  if (now <= deadline) _;  /** * Check if goal was reached * * Checks if the goal or time limit has been reached and ends the campaign */ function checkGoalReached() afterDeadline  if (amountRaised >= fundingGoal) fundingGoalReached = true; GoalReached(beneficiary, amountRaised);  crowdsaleClosed = true;  /** * Withdraw the funds * * Checks to see if goal or time limit has been reached, and if so, and the funding goal was reached, * sends the entire amount to the beneficiary. Each contributor can withdraw the amount contributed if the goal is not met. */ function safeWithdrawal() afterDeadline  if (!fundingGoalReached)  uint amount = balanceOf[msg.sender]; balanceOf[msg.sender] = 0; if (amount > 0)  if (msg.sender.send(amount))  FundTransfer(msg.sender, amount, false);  else  balanceOf[msg.sender] = amount;    if (fundingGoalReached && beneficiary == msg.sender)  if (beneficiary.send(amountRaised))  FundTransfer(beneficiary, amountRaised, false);  else  //If we fail to send the funds to beneficiary, unlock funders balance fundingGoalReached = false;    }

If you’re interested in learning more about solidity, visit our blog on Solidity Programing. This is useful for creating personalized smart-contracts.

Learn Blockchain Technologies and make a career out of it with our Blockchain Course. This course includes instructor-led live training as well as real-life projects. This training will allow you to understand Blockchain and master the subject.

Got a question for us? We will respond as quickly as possible to your question by commenting in the section below.

source https://www.edureka.co/blog/ethereum-tutorial-with-smart-contracts/

Blockchain-Based Evidence of GDPR Compliance

Blockchain-Based Evidence of GDPR Compliance

Blockchain solutions can pose unique GDPR problems. Sometimes it is misunderstood, that “Blockchain’s immutability conflicts the GDPR’s right to be forgotten” policy. However, Dragonchain was built with privacy in mind. We can provide proof that blockchain is GDPR compliant. This will not expose any personally identifiable information. With respect to consent, this guarantees that personal data stored within will be protected.

Dragonchain keeps a tamper-proof, provably accurate on-chain audit log that demonstrates compliance and accountability to regulations (GDPR and HIPAA other). This allows users to manage preferences and keep detailed records of consent.

Dragonchain is a tool that automates consent tracking and management, including right to be forgotten and subject access requests (SAR). Our Proof Systems allow organizations to prove an event, its date and time, as well as who was involved in providing any service.

Dragonchain allows you to demonstrate compliance with all technical requirements (e.g. To address the multitude of regulations that industries face, Dragonchain provides a way to prove compliance with all technical requirements (e.g. GDPR, CCPA and the right to forget, subject access requests, data preservation).

source https://dragonchain.com/blog/blockchain-based-proof-of-gdpr-compliance

Enhanced Blockchain-as-a-Service

Enhanced Blockchain-as-a-Service

Blockchain solutions were able to offer encryption, immutability, and some distribution in its early days. We saw more features being added over time, including tokenization and interoperability. There has also been a rise in Decentralized Autonomous Organisations (DAOs) in recent years.

The next generation of blockchain solutions is here and it has brought with it advances in parallel technologies like artificial intelligence (AI), IoT (Internet of Things) and decentralized identity solutions. These technologies will be intertwined over the next decade to provide enhanced blockchain solutions for businesses that offer more security, data integrity, precise analytics, and provable fact.

These enhanced Blockchain as a Service features can still be built by many other platforms. Dragonchain however, has offered several enhanced blockchain solutions over the years. Our enhanced Blockchain as a Service platform is able to interop with any traditional business system and/or blockchain to provide a greater value for businesses beyond just dollars and cents. Let’s take a look at some of Dragonchain’s enhanced Blockchain-as-a-Service capabilities.

Interoperability

Most blockchain service providers still struggle to create interoperable business systems. Most blockchain networks and traditional business systems cannot connect, and those that can are often difficult to use for end-users are restrictive. Interoperability protocols tend to focus on asset or token transfers. These protocols are too narrow to address the most real-world problems facing businesses today.

Dragonchain’s patent interoperability technology is focused on connecting all systems to a single blockchain. Interchain on Dragonchain allows businesses to use any blockchain network in a specific application case, while retaining their operational systems.

To connect systems that are not normally compatible, we use customized smart contracts. These smart contract can be integrated onto separate blockchains and interacted with each other to automate any task. This system is flexible and easily adaptable to make sure a future-proof system.

Dragonchain’s interoperability tech allows businesses to connect siloed and disconnected systems and networks within their organization. This is possible by using existing engineering resources that already know their customers and business to provide value to the market faster and with less risk.

Dragonchain’s four-dimensional approach provides maximum flexibility and useability to businesses looking to leverage blockchain technology.

Enterprise Smart Contract Orchestration

Smart contracts are used to automate and define workflows within organizations. Although these programmable contracts provide greater efficiency in business operations, they can be difficult to manage. Multiple smart contracts are required to accommodate complex workflows due to the small file size of smart contracts. This rigidity makes it difficult for businesses to adapt to changing business needs.

Dragonchain’s patent Smart Contract Orchestration software uses RESTful architecture to add smart contracts to ledged tasks in a workflow process. Businesses can add, modify, or delete any step in a smart contract system without having to rewrite it. The smart contract workflow allows for each step to be shown before and after any changes are made. This gives businesses flexibility and allows them to add, update or delete steps as needed.

Blockchain Trilemma Solved

Most blockchain platforms face challenges in creating a secure and scalable blockchain that is decentralized. This blockchain dilemma can lead to platforms having to sacrifice one component in order for the platform’s focus on the two others. Dragonchain is a foundational pillar that does not compromise security, scalability or decentralization. These elements are integrated into the architecture.

Scalability

Blockchain implementations currently in use are not able to scale up to Enterprise level and often require expensive hardware that becomes prohibitively costly as the business grows. These systems are not capable of handling the volume of transactions required by global businesses. These platforms often face network congestion and higher fees when other businesses use them.

It doesn’t matter if it’s obsolete technology, increased transactions on the network or growth within business platforms that scale with hardware, this will need to be replaced. This is so important that Gartner predicted in 2019 that 90% of Enterprise blockchain platforms currently in use will need to be replaced by 2021. It’s 2022, and most of the blockchain platforms that are in use today still scale via hardware.

Dragonchain’s Scalable architecture

Dragonchain has a unique approach for scaling. Our patented architecture allows us to scale vertically and horizontally. Each business blockchain interacts independently with Dragonchain’s verification platform Dragon Net. Dragon Net is a network made up of independent, decentralized blockchains that verify and validate each business transaction using five levels of consensus called Context-Based Verification.

Dragonchain’s Economic Scalability

Dragonchain uses a scarcity model that is based on time to economically scale blockchain networks and avoid fee volatility. TIME is used to stake a business node. This allows it to set and lock a fixed fee for each business transaction. This ensures that the business is not dependent on other networks and does not experience congestion or increase in fees.

TIME determines the amount of transaction fees that are paid to each business transaction block by users who run verification nodes.

In January 2020, we demonstrated the system’s infinite scaling ability by holding a 24 hour live demonstration where a quarter of billion transactions (250 million+), were completed entirely on an operational network. This demonstration was for a single business system. However, any user can scale it further by running multiple systems simultaneously.

Scaled deployment

Dragonchain’s patented interoperability technology allows for the rapid deployment of Enterprise Blockchain solutions. Interchain draws its inspiration from the same models that are used to operate the Internet, RESTful architecture pattern and Linux/Unix system. Businesses can deploy to Amazon Web Services, Microsoft Azure, Google Cloud Platform and other standards-based cloud platforms using our architecture. Our environment allows businesses to have their developers deploy smart contracts and other blockchain-based systems quickly and easily using tools and resources they already know (e.g. Linux, Docker, etc). This allows businesses to have more control over the deployment and implementation of blockchain systems.

Hybrid Blockchain Architecture to Secure and Prove Your Identity

Functional systems must be designed to ensure security for businesses. Dragonchain’s primary goal is to protect business data. Dragonchain can be confidently said to be the most secure platform in the world.

Dragonchain employs a hybrid blockchain architecture that combines private blockchains to protect privacy with multiple public chains to provide transparency and measurable security. Businesses can protect their proprietary and private data using their own private blockchains and only send the proof of transaction for decentralized verification. This architecture allows businesses the ability to segregate data in order to minimize data breaches.

An important side note. This architectural approach to data separation allows businesses to keep GDPR and CCPA regulations in place. It also protects sensitive data like personal identifiable information (PII) unlike other blockchain platforms.

Dragonchain is more resilient than any single blockchain to a 51% attack. A nefarious actor must hack the entire business’s blockchain and all 1,200 blockchains on Dragonnet’s consensus network Dragon Net.

Quantum Encryption Integration

Dragonchain’s hybrid blockchain architecture integrates quantum-safe encryption, signing and cryptography capabilities. Businesses can use our quantum encryption capabilities to ensure their data is secure at rest on their private Blockchain, as well as when it is validated on public Blockchains and shared with partners.

Dragonchain’s Decentralized Blockchain Platform

Dragonchain uses a hybrid approach for decentralization. Each business that uses the Dragonchain platform has its own private blockchain. This private blockchain can be customized to meet the business’s needs and objectives. To reduce the risk of sensitive business information being distributed over an uncontrollable, decentralized network, the private blockchain for businesses is essential. Dragonchain allows businesses to decide if and where decentralization makes sense for their business.

A robust blockchain system will still require decentralized verification. The architecture allows businesses to choose which information they want to send to decentralized verification. Dragon Net, Dragonchain’s network of independent distributed verification blockchains that validate every business transaction, is protected by all public blockchain networks connected via Interchain (e.g. Bitcoin, Ethereum, Binance Smart Chain. This measurable proof can be used by businesses to verify each transaction, without having to release any proprietary or private information.

Enterprise NFTs and tokenization

Dragonchain allows businesses to use customized tokens that allow them to transfer assets faster, with greater security and lower costs. These tokens, which can be either internal or exterior, can be linked to standard legal agreements through smart contracts.

Dragochain’s scalable Enterprise FFT (ENFT), model is a great option for businesses looking to explore Non Fungible Tokens. To motivate their partners and employees to comply with regulations, submit KYC or reduce their carbon footprint, any business can create a number of unique ENFTs. These ENFTs can be used by businesses to control access and track events in a supply chains to ensure data integrity.

Dragonchain has created more than 160 million NFTs through Den.social since January 2021. These NFTs can be interoperable with any other public blockchain, and provide a bridge to Web3 integration for businesses with traditional business models.

Technology that is proven to be fair

Dragonchain’s proven fair technology can be used by businesses and organizations who conduct giveaways or contests. To determine the winner of a contest, the system uses the future block haveh of Bitcoin or Ethereum.

Provably fair technology can be used to prove fair gaming or esports. The technology can be used to track and map character traits, performance, and also prove gameplay and events in real time.

Decentralized Identity

Businesses should implement a decentralized identity system to minimize liability for holding sensitive data. Dragonchain’s decentralized identity system, Factor allows businesses to prove that users are not bots and can be verified and measured as to their authenticity.

Factor is a tool that helps businesses protect their customers’ identities by breaking down identifying information into components called factors. (e.g. First name, last name and physical address. Social Security Number (SSN), birthdate, etc.

After these factors have been verified, the proof can be distributed to interested parties. The actual data will not need to be revealed. This reduces the chance of having to collect and validate identifying information repeatedly during the Know Your Customer (KYC), process.

To verify the identity of Internet of Things smart devices (IoT), factor technology can also be used. IoT devices can access systems to verify that they are authentic and have not been altered. This security measure will ensure the IoT device’s access to systems is protected from malicious actors.

Artificial Intelligence and Machine Learning Capabilities

Dragonchain’s interoperability technology, which is patented by Dragonchain, can combine blockchain and smart contract with advanced artificial intelligence (AI), and machine learning (ML), to achieve powerful results.

The blockchain can store AI/ML training data for measurable proof and automated reproduction of results. This will reduce or eliminate liability when AI/LM is applied in high-risk cases like healthcare and safety.

Supply Chain Applications

Dragonchain’s strong Line-of-Sight supply chains capabilities can be combined AI/ML to help analyze large amounts of data, understand relationships and provide visibility into operations. This will support better decision-making.

Dragonchain’s unique, scalable architecture allows it to capture any AL/ML action on-chain, even if that action seems insignificant at the time. Businesses can easily look back at past AI/ML actions to prove their true status at any point in the past. This allows for a detailed analysis of the entire historical system with great confidence and also provides pathways to improve AI/ML-training.

Health Systems

Dragonchain combines AI/ML-driven health applications with blockchain to analyze fitness data and medical data for better Health and Wellness recommendations and outcomes.

Smart second opinions can be provided by AI/ML-powered blockchains. Prescriptions or procedures can be validated using a smart contract that has a complete on-chain knowledge. Dragonchain’s proof system allows for multiple healthcare professionals to receive results without having to release personal information.

AI/ML Personalization Behavior System

Dragonchain’s unique ability to combine our patented behaviour mapping system with AI/ML is what makes it stand out. This platform can be used for incentivizing users to follow a process that improves their outcomes and also to gain valuable feedback to help with platform analytics.

AI/ML can be incentivised to take certain actions by technology. AI/ML can be programmed in a way similar to human behavior to encourage them to take specific actions. Then it is rewarded for completing the process in the most efficient and accurate manner. This results in a more efficient and precise AI/ML-powered system.

source https://dragonchain.com/blog/enhanced-blockchain-as-a-service

Here are four ways digital transformation can help you reach your sustainability goals

Here are four ways digital transformation can help you reach your sustainability goals

People are rethinking sustainability priorities after the pandemic-related events in the last two years. The government is enforcing regulations. Financial managers and investors are now considering sustainability criteria when making investment decisions. Customers and employees are becoming more conscious about the environment and seeking out brands and employers that share their values. These forces together are creating a new corporate agenda. Sustainability is rightfully at the center of operational and boardroom management discussions.

A new report from IBM’s Institute for Business Value , “Sustainability is a transformation catalyst: Trailblazers transform aspiration into actions,” shows that only 35% have taken action on their sustainability strategy. Only 4 out of 10 companies have identified the sustainability drivers or initiatives that will close their sustainability gaps. Only one-third of companies have integrated sustainability metrics and objectives into their business processes.

To achieve sustainability goals, businesses need to have actionable environmental insights. However, current methods can be cumbersome and complicated, which requires intensive manual labor, climate- and data science skills, as well as computing power to fully exploit their data.

Digital transformation can help companies remain resilient, adaptive, and profitable in the new era. These are just four of the ways that a comprehensive data- and AI strategy can help you reshape your business around a sustainability agenda.

A resilient infrastructure is created

Companies must extend the lives of their buildings, bridges, and water lines to meet the challenges of climate change and diminishing natural resources. Companies can use digital transformation to fulfill sustainability commitments to find new ways to improve their processes, reduce costs, reduce waste, attract new clients, build brand loyalty and adopt new business models.

AI-powered remote monitoring can help organizations predict and avoid problems. They can also conduct condition-based maintenance using operational data and analytics to reduce downtime as well as maintenance costs. Companies can reduce their spare parts stock by having a better asset management. A company can cut down on energy costs by identifying small problems before they become bigger and more costly.

A transparent and trusted supply chain is built

Visibility is essential for supply chain leaders. They need visibility to track exactly how much inventory they have, where they are located, and what it’s worth. This can cause them to over-order and tie up too much capital. It’s also difficult for supply chain leaders to share data and transparency with their suppliers of deep tier. This makes it extremely difficult to track products from origin to delivery in a safe and controlled manner. This makes it more difficult to identify and protect brand reputations from supplier risk.

To achieve supply chain sustainability goals, organizations need a global, accurate and real-time inventory view. They also need to be able to trust each other’s data. AI can help companies reduce inventory that is not being sold, cut carbon emissions from logistics moves, optimize fulfillment decisions-making and minimize waste.

Get business insights from the environment

Highly developed predictive tools are needed for companies that are exposed to many external factors. Unilever, a consumer goods company, needs data to predict the impact of environmental factors and make sustainable decisions. Desjardins Insurance, a Canadian insurance company, wants to be able to predict the impact of disruptions on policyholders. For example, clients could receive advanced warnings about hailstorms in order to take preventive action. Companies can use AI-driven prediction to plan for and respond in the event of weather events. This is done using a mix of third-party and proprietary geo-spatial, weather, and IoT data. This automates and streamlines management of environmental risk and operationalizes the underlying processes to achieve environmental goals, such as carbon accounting and reduction.

Global economy decarbonization

Utilities will play an important role in the energy transition over the next few years by helping to accelerate global decarbonization via clean electrification. This is the process of replacing fossil fuels and producing electricity from renewable sources like solar, wind, and hydro. They will also need to have a comprehensive asset management plan for the operation, maintenance, and life cycle of these renewable energy plants. Digital transformation is key to decarbonization. It will allow electricity ecosystems to deliver clean energy in safe and reliable ways to consumers.

 

All businesses are now entering a new era in digital reinvention thanks to innovations in AI and hybrid cloud. IBM is uniquely placed to assist our clients in achieving Sustainable Development Goals.

IBM partners with companies to provide five levers for digital advantage in this rapidly changing business environment. These levers include the ability to predict and shape data-driven outcomes and automate at scale to productivity and efficiency. They also secure all touchpoints, modernize infrastructures, and transform businesses with new technology-driven digital models.

https://www.ibm.com/blogs/blockchain/2022/01/digital-transformation-sustainability/

UX is crucial in Crypto End User Adoption

UX is crucial in Crypto End User Adoption

The user experience (UX), in crypto products, is often poor because there isn’t enough investment.

Most investment goes into cryptography, technical research and backend engine engineering. Front ends for blockchain-based applications often are “just enough” to get the job done.

This observation is important because it is our concern about the adoption of crypto-based apps by end users. The UX of an application’s application greatly influences the long-term adoption. After spending considerable time developing Web2 products, I believe this.

The Enhancement of UX through Web 2.0

It was around 2010, when I met someone from Google’s UX research team. This was the pivotal moment in my life.

Until that point, I thought of releases as features. What features will be shipped with this release? The end-user pieces were referred to as the “user interface” or “frontend.” Only features that had to be shipped.

The process they went through to ship Android releases was described by a Google UX researcher. Their process included a large UX component.

UX research and testing involved bringing random people onto the streets, giving them pre-configured Android phones, and recording video and timing data as the subjects completed various tasks. They would ask people to “schedule an appointment” and “call this number.” Next, they would record data about the subjects’ taps, their time spent completing the tasks, and what mistakes they made.

The team would then analyze the data, iterate on the UX, move buttons, make things more prominent, and then run the tests again with another set of people to compare the data sets. This was only one aspect of their UX research.

When I saw the amount of effort Google put into its products’ UX and usability, I was completely amazed. Google and Apple have dominated the mobile market because of their focus on great UX.

Advanced UX techniques such as the one mentioned above are common in the Web2 world. There are often separate design and UX research groups within an organization.

One thing that struck me when I moved from the Web2 space to the Web3 space was the fact that many blockchain projects lack UX and design functions. People with backgrounds in economics, finance, and software engineering naturally gravitate towards cryptocurrency. This results in heavy weighting in teams that are made up of people from these backgrounds. One reason that crypto has faced difficulties in gaining adoption is the relative underrepresentation in UX and design backgrounds.

UX can be used to reduce the learning curve

It’s not hard to see that crypto has many concepts you need to understand in order to use many products. You will need to know concepts such as accounts, public keys and private keys, signing, block heights, finalization, and many others.

However, learning new concepts can be a barrier to adoption. End users will still learn new concepts and mental models if they are clear and motivated.

The concept of operating system concepts such as files, folders and processes was once new. These concepts and their graphical representations were intentionally chosen to be a replica of real-world concepts and to help people onboard and create the right mental models to work with computers as they became more common.

This example shows real-world mimicry in action. It is a screenshot from the original iPad note-taking app.

Image sourced from this blog: https://uxdesign.cc/mental-models-in-ux-design-in-examples-f75b083cd487

It is both completely unnecessary and intentional that the physical legal pad has some resemblance. It aids the user to create the right mental model.

Things like URLs, HTTP, FTP and IP addresses were exposed directly to end-users in the early days. These were easy for non-technical users to learn to use, despite their rough edges. A poor UX is not due to conceptual complexity. Clear concepts and the right motivation for users to want them to learn them are key.

Web3 World: Introducing UX

No matter what product it is, better UX will improve end user adoption. We will only improve our UX if more people have UX and design expertise. If we want to build products that are user-facing, then these skills should be valued as much as those who work as backend engineers.

You don’t have to do much at first. Use existing resources to improve UX for crypto. To improve your product, you can engage a freelance UX designer. It is better to have them as part of the product’s development process, rather than having them “make it look pretty”. Many of the user flows and concepts have been established by this point and are hard to change.

One of the most important lessons from the past 10 years of Web2 is the importance of UX in software adoption. I hope Web3 builders will not have to relearn this and instead incorporate design and UX into their products as first-class investments and teams.

source https://www.purestake.com/blog/the-importance-of-ux-in-crypto-end-user-adoption/

Get a discount on your flight and hotel for Binance Blockchain Week Paris

Get a discount on your flight and hotel for Binance Blockchain Week Paris

Main Takeaways

  • The Binance Blockchain Week Paris 2222 conference will take place on Wednesday, September 14th through Thursday, September 15th.
  • This event will take place in Palais des Congres in Paris and will feature the top experts in Web3, Blockchain, and all things Crypto.
  • When you pay with crypto on Travala.com, you get a discount on your flight and hotel if you are flying from outside Paris.

This is how you can get discounted flight tickets and accommodation when you pay crypto via Travala.com. You don’t have to wait until the Binance Blockchain Week Paris is over!

Binance Blockchain Week Paris 2022

Binance Blockchain Week Paris will be held from Wednesday, September 14th to Thursday, September 15th. It features the most prominent figures in crypto. Fireside chats, informative discussions, and keynote speeches by respected crypto pioneers are all part of the program. Binance Blockchain Week Paris will take place in Palais des Congres. Non-Parisian residents are advised to be prepared before heading to the City of Light.

Are you ready for Binance Blockchain Week Paris We’ve got you covered!

Save on Flights and Accommodation by Paying With Crypto Now!

Did you know that flights are usually more expensive after three weeks? The law of demand dictates that the sooner you book your flight, you will pay more than your friend who booked it earlier. Book your tickets in advance to save money for your Paris trip! You may also be able to take advantage of special deals on travel platforms that offer even greater discounts. Book a hotel room and save up to 40% Book early and take advantage of Travala.com’s special deals! Book via Travala.com and get an additional 5% discount by using BTake5Off

This is good news for globetrotters. To make the most of your Paris trip, you can book crypto-based travel activities. Enjoy your post-pandemic travel revenge in Paris and take in all that the City of Light has. Travala.com offers tours that allow you to enjoy art, fashion, and gastronomy in Paris.

How to Pay with Crypto

  1. Register for a Binance Account or log in to your existing Binance Account.
  2. BNB allows you to top up your Funding Wallet. Verify your identity first if you are a new user.
  3. Visit a crypto-friendly travel company like Travala.com.
  4. Search for a hotel or flight for the dates you want to travel.
  5. After you have settled on a tour itinerary, enter your traveler details to make payment.
  6. Choose [Crypto] for your payment method, then select [BNB].
  7. Click [Payment received] Once your transaction is processed, you will receive an email confirmation or e-ticket.

source https://www.binance.com/en/blog/markets/score-a-discount-for-your-flight-and-hotel-for-binance-blockchain-week-paris-1039177938948834128

What should you pack for Binance Blockchain Week Paris These are some travel tips!

What should you pack for Binance Blockchain Week Paris These are some travel tips!

Main Takeaways

  • Binance Blockchain Week Paris 2020 will take place from Wednesday September 14 through Friday September 16.
  • When you pay with crypto on Travala.com, you get a discount for flights and accommodations from Paris.
  • You can convert local currency using a peer to peer (P2P), marketplace before you go. Convert with no fees using Binance P2P to make the most of your travel budget.
  • You can enjoy a smoother travel experience by visiting crypto-friendly merchants at the Binance Marketplace.

Are you ready to pack your bags and head for Binance Blockchain Week Paris? We’ve got you covered!

Binance Blockchain Week Paris 2022 will be a three-day event that features a conference and a meet-up. From Wednesday, September 14 to Friday, September 16, expect fireside chats and insightful discussions as well as keynote speeches by prominent figures from the crypto world.

The Binance Blockchain Week Paris will take place in Palais des Congres. We’ve put together a few useful crypto travel tips for non-Parisian residents to make your trip to the City of Lights smooth.

Style with Crypto

Even the most experienced traveler can’t escape cramped and crowded transit. We know from personal experience that even short-haul flights feel long, which makes us anxious upon our arrival. With the right tools, preparation and patience, you can still remain calm after a 22-hour flight.

Convert currencies

Most travelers need to exchange currency prior to their trip. Many choose banks, foreign exchange shops or airport kiosks.

To exchange currency at the bank, there will be additional fees and some banks will charge a higher price. Although foreign exchange kiosks and airport kiosks can be convenient upon arrival at your destination of choice, their conversion rates are not the best.

Unlike other traditional methods, allows you to make crypto-to fiat exchanges using your preferred payment method with zero fees.

Take the right card

Your packing list may be different now than it was pre-COVID, but one thing is certain: your credit card. Your trip will be even more enjoyable if you have a credit card that maximizes cashbacks and offers other perks.

The Binance Visa Card allows you to receive up to 8% BNB cashback on eligible purchases, and there are no ATM withdrawals, foreign currency, or annual fees. What are you waiting to do? Now is the time to book your flight and accommodation using your Binance Card. Book your flight or accommodation through Travala.com to receive a 5% discount

Find crypto-friendly merchants

If you are looking to live the crypto lifestyle while traveling, the Binance Marketplace is a great option.

You don’t need to hail a taxi to get to the Binance Blockchain Week event from your hotel. You can book a Splyt ride via the Binance app, and pay using your Funding Wallet crypto balance.

Bonus: Are you traveling with a friend? To introduce them to crypto, send them a Binance gift card.

Double-check your essential documents

Avoid unnecessary stress and unexpected surprises by making sure your visa, COVID-19 vaccination certificate and other travel documents are current.

source https://www.binance.com/en/blog/markets/packing-your-bags-for-binance-blockchain-week-paris-here-are-some-travel-tips-1173411119942945187

Paris, Binance Blockchain Week: Bringing Pop Art to Web3

Main Takeaways

  • Binance Blockchain Week Paris takes place September 14-16 at the Palais des Congres de Paris.
  • Find out about the hot topics and guest speakers through our panel spotlights.
  • Web3’s Bringing Pop Art to Web3 will examine some of the most significant changes Web3 will make to the art world.

Join us at the Palais des Congres de Paris to attend Binance Blockchain Week Paris in September.

 

The event will be held from September 14-16 and include two days of thought-provoking panels about Web3. On the last day, attendees who have purchased their tickets for the Binance Super Meetup will be invited to an exclusive meetup. If you wish to attend, make sure to choose the Binance Super Meetup option when checking out.

These are the main themes that our Binance Blockchain Week Paris speakers will tackle this month:

We’ve provided some sample presentations of what you can expect at the conference for those who are interested. Our panel spotlight, Hitting the Right Web3 Note — showcased the discussion that is about Web3 and the music business. Our second installment of the Binance Blockchain Week Paris panel spotlight series, Bringing Pop Art on Web3, is our second edition.

Bringing Pop Art To Web3

Pop art was born in 1950 as a celebration and commentary on the restrictions of fine art.

The arrival of pop art in the Web3 world may signal a seismic 21st century shift that could forever alter how people perceive and interact with art.

Web3 opens up new possibilities for artists and pop icons, which our guests will discuss. We’ll discuss not only the implications for creators but also the role of collectors and audiences in this new Web3-powered art industry.

source https://www.binance.com/en/blog/markets/binance-blockchain-week-paris-bringing-pop-art-to-web3-5131225839301660427

Six HR documents that every small business must have in order to comply

Six HR documents that every small business must have in order to comply

You want to be able to focus on your employees and grow your business and not worry about compliance and penalties. You can keep your employees updated and audit-ready by making it a habit to record and track important HR paperwork.

Here are six HR documents that every small business should keep track of if you’re unsure where to begin.

  1. Onboarding and recruitment: It is important to ensure that your recruitment strategy is compliant with labor laws. This will help you create a positive candidate experience.

  2. Employee handbook This document assists employees in working in accordance with your organization’s policies. This document often clarifies the mission, values, codes of conduct, compensation, and benefits of your workplace.

  3. Payroll paperwork. Payroll laws vary from one region to the next. Be sure to document offer letters and employee leave and attendance data as well as personal information, employment status and payment details, in accordance to local regulations.

  4. Training documents: Compliance documents must be kept safe for audit purposes. Training programs can be made more efficient by keeping other documents, such as budgets and training handbooks.

  5. Performance documents The proper recording of appraisal forms, self review forms, and appraisal letters makes it easy for managers and employees to conduct performance reviews.

  6. Exit documents It is important to keep track and maintain a record of all signed resignation letters, termination letters, references letters, exit interview questions, and exit interview answers.

source https://www.zoho.com/blog/people/6-hr-documents-every-small-business-needs-to-ensure-compliance.html

Poor knowledge management can have devastating effects on your company

Poor knowledge management can have devastating effects on your company

The management and use of knowledge resources is a key factor in an organization’s overall growth. Access to the right information at the right time is essential for employees to be able to complete their tasks on schedule and remain productive. Employees may not be able to access the information they require when organizations fail to invest in the right tools and processes. This could lead to increased production times, which can impact the organization’s success.

Below are some reasons that poor knowledge management could hinder your business’ growth.

  • Employees will spend more time searching for information if it is not organized and easy to find. This can lead to lost productivity.
  • Employees may create duplicate information if they are unable to find or hide relevant information in the organization. This can lead to inconsistencies and waste of time.
  • Inefficient solutions may be delivered to customers if there is not access to customer feedback, research insights and requirements documents.
  • Incorrect, inconsistent, or poorly managed information can affect the quality of the organisation’s decisions.

Businesses can organize and make information easily accessible to their employees by using the right tools and a good knowledge management strategy. This allows employees to use the information to drive growth and facilitates continuous flow within the company.

source https://www.zoho.com/blog/learn/impacts-of-poor-knowledge-management-in-your-organization.html

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