Blockchain advancements transforming cryptocurrency technology

The internet continues to enhance in many ways including how it’s used for income transfer. Bitcoin values have reached all-time highs.

It’s all part of the record famous as blockchain, which continues to evolve.

CGTN’s Mark Niu has the details.

By slipping on a VR headset, ViMarket allows users to see how practical seat fits in their possess practical room.

They can buy anything there as practical versions or as tangible earthy products to be delivered to their room in the genuine world.

Transactions are made through the newly grown crypto banking called Vitokens — all probable because of blockchain technology.

“Traditionally it would be very formidable to launch the ViMarket globally because you would need maybe hundred different businessman accounts, remuneration solutions,” Guy Robert, co-founder of ViMarket said. “But with a cryptocurrency, it is tighten to giveaway of assign to do the transactions.”

Cryptocurrencies -like Vitoken and Bitcoin — are formed on blockchain technology, which allows income to be eliminated from one celebration to another but a center man, such as a bank or credit label company. That speeds up exchange and reduces costs. And it’s self-regulating because when one celebration pays another, it goes into an open bill that everybody in the network can see and select either to countenance that transaction or not.

But there are still concerns about how secure they are.

Well one businessman who’s been in the confidence business for decades and sole his information encryption association for $40 million, believes it is.

“It is unstoppable- fundamentally any developer can rise app on the blockchain with really, really low cost,” Duc Pham, CEO Founder of FundcruIt said. “It’s most fit when it comes to cost and carrying transactions, generally financial transactions.”

The startup ObEn is holding Artificial Intelligence to the blockchain.

Project Pai seeks to get everybody in the universe to emanate their possess digital avatar and make exchange with the possess cryptocurrency called Pai Coin.

“What Blockchain and Pai Coins is enabling is the counterpart to counterpart transaction where you don’t have to have that center man, that vast company, where all that information is feeding into,” Sho Guo, selling conduct of ObEN says, “Because blockchain enables that counterpart to counterpart trust.”

While Bitcoin has garnered most of the industry’s attention, technologists here trust they’ve only scratched the aspect of what value cryptocurrencies will someday move to the world.

 

Article source: https://america.cgtn.com/2017/12/05/blockchain-advancements-transforming-cryptocurrency-technology

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