TOP 5 BLOCKCHAIIN DEVELOPMENT APPLIICATIIONS & REAL WORLD USE Miritec CASES
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BLOCKCHAIN DEVELOPMENT IS A DECENTRALIZED DATABASE THAT HAS EMERGED AS ONE OF THE TRENDING TECHNOLOGIES OPENSOURCED AMONG MANY COMPUTER NETWORK NODES. IT OFFERS ABSOLUTE SECURITY TO YOUR DATA AND SMART CONTRACTS AND SAFEGUARDS DIGITAL ASSETS, FREQUENTLY AT RISK OF BEING HACKED AND MISUSED. BLOCKCHAIN HAD BEEN USED ONLY IN CRYPTOCURRENCY AND BITCOIN IN THE EARLY DAYS. WITH TIME BLOCKCHAIN TECHNOLOGY EMERGED INTO AN EXTENDED HUB OF SECTORS.
HERE ARE A FEW APPLICATION AND REAL-WORLD USE CASES OF BLOCKCHAIN DEVELOPMENT TECHNOLOGY: DECENTRALIZED AUTONOMOUS ORGANIZATION (DAO) ·DECENTRALIZED APPLICATIONS (DAPPS) ·POLYGON (LAYER- 2) ·CHAIN LINK ·INTERPLANETARY FILE SYSTEM (IPFS)
DECENTRALIZED AUTONOMOUS ORGANIZATION (DAO) A decentralized autonomous organization (DAO) is a company or organization that makes decisions based on computer code or the votes of its members. The code contains the Smart Contract's rules, which are adopted and implemented once members vote in favor of proposed rule amendments. USE CASES: GAMING, FINANCE, SOCIAL MEDIA, CROWDFUNDING AND INVESTMENT FUNDS, MANAGEMENT, FASHION AND CULTURE SALES
DECENTRALIZED APPLICATIONS (DAPPS)
The open-source software that runs on a Blockchain network is known as decentralized applications. The digital assets created by dApps provide proof of value. For communicating with their Blockchain, dApps employ W allets. The app logic is contained in Smart Contracts, while the data for the dApps is stored on the Blockchain. USE CASES: FINANCE, SOCIAL MEDIA, NETW ORK MARKETING, GAMING, E- COMMERCE, IOT
POLYGON (LAYER2) Polygon is a Blockchain scalability platform and architecture. It enables Ethereum-compatible Blockchain networks to connect and grow. It's a Plasma-based Layer-2 aggregator that lets you build highly secure, scalable, and quick off-chain decentralized apps. Polygon is compatible with layer-2 solutions like side chains, sovereign blocks, and other layer-2 solutions. USE C ASES: GOVERNANCE, PAYMENTS, LOANS, GAMING
CHAINLINK Chainlink is an Ethereum-based Blockchain Oracle that feeds data from the outside to the Blockchain's Hybrid Smart Contracts. It's a piece of software that solves the problem of connectivity. Chainlink is a decentralized network of nodes that delivers realworld data to Blockchain Technology via APIs after querying, confirming, and authenticating the data sources. Chainlink is a proof-of-work mechanism that connects non-Blockchain and Blockchain environments. For preparing and retrieving offBlockchain data and calculations, Chainlink tokens called LINK can be used as an incentive for Chainlink decentralized network operators. USE C ASES: FINTECH, SUPPLY CHAIN AND LOGISTICS, PAYMENT GATEW AYS.
INTERPLANETARY FILE SYSTEM (IPFS) The InterPlanetary File System (IPFS) is a decentralized peer-to-peer file sharing and storage protocol that makes the internet quicker, safer, and more accessible. A distributed file system is used to share data. IPFS eliminates the need for a centralized system by allowing thousands of peers to load cryptographically hashed data with unique content identifiers. Distributed Hash Tables (DHT), BitSwap Protocol, Merkle Directed Acyclic Graph (DAG), Distributed Version Control System (DVCS), and SelfCertifying File System are among the inventions included (SFS). IPFS can also be used to create and host dApps. USE C ASES
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