Advantages of IOTA compared to the blockchain

With blockchain technology making the most headlines in crypto innovation, IOTA offers users a completely new digital framework that promises a similar level of innovation, but on a much larger, industrial scale.

IOTA’s main driver is Tangle, which, unlike a blockchain, maps transactions across an entire network rather than a single data chain.

This helps to diversify IOTA’s implementation capabilities and scope, especially for customers who want to integrate distributed ledger technology into an industrial system.

What are the main advantages of IOTA over Blockchain for the Bitcoin trader?

1. the transaction speed: One of the biggest problems with the blockchain, as it was originally developed for Bitcoin trader, are the relatively slow transaction times. From today’s perspective, transfer rates are currently in the low two-digit range, which, to be honest, is quite slow for many modern applications and supposed to be a scam according to Bitcoin trader. IOTA uses a system where transaction rates increase dramatically the more customers use their platform.

2. micropayments: When using regular blockchain-based payment portals, transaction fees are typically set by the sender/initiator of the transaction. This makes it increasingly impossible to process smaller payment amounts. One of the biggest advantages of IOTA is the ability to handle small payments with little to no transaction fees.

3. scalability: Technically, IOTA uses a processing module that becomes faster as the number of subscribers and transactions increases. It is also worth noting that when using IOTA, the time between placing a transaction and its validation is zero once a certain data size has been reached.

4 Ready for the Future: One of the key questions for customers using the blockchain is that the technology is quite costly in terms of security requirements. For example, to implement Bitcoin mining processes, more computing power is required over time. IOTA reduces these high cost requirements by eliminating key areas of the conventional mining process.

5. security when using the block: When using the blockchain, its owner theoretically has the power to manipulate the system with new data and modify it for personal gain. This creates a concrete dilemma for companies that want to integrate the blockchain with externally auditable applications where the immutability of the data must be guaranteed at all times.

What makes the Ethereum code so attractive for industrial use?

In addition to the advantages mentioned above, the use of the Ethereum code can also go beyond the use as a simple payment protocol. For example, large companies can use Ethereum code technology to defend scam off their Internet of Things use cases. Through the use of Masked Authenticated Messaging (MAM), IOTA is able to streamline encrypted data transfers while ensuring a high level of integrity, data protection and data access management.

Future Prospects
With the “crypto revolution” now in full swing, more and more users are looking for real technological opportunities to make micropayments a reality. IOTA not only offers a platform that has the potential to facilitate digital payments for everyday transactions and commerce, but also provides a technology that makes IoT communication a reality.

MediBloc Coin – All important details at a glance

The MediBloc Coin, also known as MED for short, is a blockchain technology designed to make its way into the healthcare sector. With the help of the blockchain, patient data can be stored decentrally and called up quickly.

The MED Coin is intended to create incentives to use the network. But what about the prognosis if bureaucratic hurdles stand in the way?

MediBloc Coin – What is this Bitcoin code?

MediBloc is an open-source platform that uses Bitcoin code technology to build a decentralized network for the healthcare industry. The MED development is based on the blockchain from Ethereum, so the crypto currency is an ERC20 token. The MED crypto currency can be used within the Bitcoin code network to pay for services or purchases. For example, when purchasing pharmaceutical products or paying insurance companies that are part of the network.

MED coins can also be earned by feeding data into the blockchain. This gives you “Medi Points”. The point system measures the activities of the users and awards points based on this. These points are tokens and are also used to verify processes within the network. However, these tokens do not leave the MED network, they cannot be stored in the Medi Bloc Wallet. Instead, they can be converted to MED coins by storing them for at least three months. The conversion rate changes depending on the amount of MED coins and other factors. At the same time you can buy MediBloc to convert it into points.

The focus of the development is on the blockchain. This should make it possible to store patient data decentrally and make it available. The problem with patient data is that it is usually stored centrally in hospitals and practices. This can make it cumbersome for physicians to obtain the required data from patients and in the worst case can lead to serious errors if the treating physician does not have the complete medical history available.

MediBloc Coin – Who is behind the Bitcoin profit?

With the decentralized blockchain, the Bitcoin profit data is available anywhere in the world tested onlinebetrug. At the same time, the patient should have full control over his or her own data; the patient decides who can view his or her medical history. With MED the blockchain, data security is virtually guaranteed. Unauthorized changes to patient data can be viewed transparently on the blockchain, as all changes are reliably stored here. Also the loss of data is almost impossible thanks to the blockchain.

The MED network consists of three layers: Medi Bloc Core is the database that stores the patients’ data. By using an encryption protocol, only the patient should be able to access the medical history, as he or she has the private key to do so. Medi Bloc Service uses Smart Contracts to connect the Medi Bloc Core to the other layer that provides decentralized applications. Medi Bloc Application is this layer. It makes it possible for the user to use programs that give him access to the MED network.

The MediBloc development takes place mainly in Seoul, South Korea. The majority of the team comes from South Korea. Founder Dr. Allen Wookyun Kho is responsible for business development. He studied dentistry and computer science, worked at Samsung Electronics and as a dentist. Co-founder Dr. Eunsol Lee is a software developer and physician, certified in the field of biomedical informatics. In MED development he works as a system architect. In addition, a team of software developers and consultants has been formed.

The MED crypto currency is dependent on partnerships. The first test runs of the MediBloc platform will soon be carried out at Kyung Hee University Dental Hospital.

Switzerland Keep crypto-friendly status

Switzerland wants to retain crypto-friendly status – banks deter startups

Called the “Crypto Valley”, the Swiss city of Zug is losing its splendour in favour of other cities and jurisdictions, as crypto currency start-ups are said to have difficulties in administration and with the government.

Switzerland is facing a problem with Bitcoin Revolution

As Reuters reported on 19 July 2018, crypto currency projects in Switzerland are feeling the pressure from banks and financial service providers that have stopped operating crypto shops in recent months.

Many crypto start-ups have moved to Switzerland after significant friendly regulations on the blockchain and crypto currency industry were introduced in 2017-18.

Swiss officials note that the local crypto currency sector is gradually growing. Although insignificant compared to the country’s globally recognized banking sector, the digital asset sector employs hundreds of people and is proving to be an important source of industry for citizens.

Despite relevant laws, Swiss banks are urging regulators to demand additional clarity and establish rules for Bitcoin Revolution scam and for crypto currency transactions before they can offer banking services.

As the Retuters report shows, Z├╝rcher Kantonalbank (ZKB), Switzerland’s fourth-largest bank, closed bank accounts of over twenty crypto companies in 2017. CBC officials refused to comment on the nature of their decision in this regard, but claimed that no bank support is offered to former or existing crypto currency customers. Of the 250 registered banks in the country, only two companies currently allowed the payment of funds financed through ICOs.

The biggest criticism from the banks is money laundering. Banks claim that several token issuers have failed to conduct their due diligence on the contribution of investors and are thus committing a potential crime if they allow unauthorized money to be stored.

Train loses its shine

The remarkable development of Zug as a crypto-economy is well known. The small canton with only 30,000 inhabitants is home to over 300 crypto companies. Heinz Taennler, finance director of Zug, however, expressed concern about the current state of banking support in the region and fears that crypto companies could leave Zug:

“All their banking relationships lead to Liechtenstein. That’s hundreds of jobs, and every job is important.”

Swiss Official unveils reinsurance
An official of the Swiss National Bank (SNB), Thomas Moser, explained that representatives of some cryptographic currency companies should contact the central authorities to intervene.

Moser added that the jurisdiction does not want to diminish the economic opportunities arising from the lucrative crypto currency sector or stifle technological innovation.

Execution for Smart Contracts

However, it can be assumed that these examples have probably developed from one another and from the lines of development listed. Therefore, some advocates see smart contracts as a necessary further development of independent efforts to achieve improved opportunities for transactions in the various industries using digital technologies. For this reason, various formal languages have already been developed which can be used to map contractual clauses into software. These efforts are also supported by the Institute of Electrical and Electronics Engineers based in New York, which has already held various workshops on the subject of electric contracting.

The replicated title and contract execution for Smart Contracts

The infrastructure required for Smart Contracts can be implemented through a replicated asset register and the subsequent execution of the contract through cryptographic hash chains, as well as fault-tolerant replication.
In a peer-to-peer network, any node can act both as a register and as a trustee. The change of ownership is performed in these nodes, and the rules that can be checked for the respective transaction are automatically mapped. The fact that all transactions must be audited by all other nodes is an additional safeguard for the parties involved in a transaction. The description language for the contracts in 2002 was the Askemos procedure Scheme, a programming language developed in 1975, later SQU was used instead.

In the Askemos process, the conventional electronic signature was replaced by a dynamic and multilaterally coordinated signature. The great advantage of this procedure is that the documents are no longer located in a place where they can be destroyed or manipulated, but are stored in distributed form. This not only provides better protection against tampering, but also makes the system less susceptible to technical failure.

If two parties want to conclude Smart Contracts according to the Askemos procedure, they must first of all agree on four providers, which are legally and technically independent of each other. Another prerequisite is that all participants use an asceemos network such as fiXml. Before the contracts are concluded, one party must authenticate itself with the providers, which in the best case happens with different procedures. One party then saves the contract text with all providers. In addition to the actual document, further information, such as the sender of the document, is stored. A checksum is automatically generated from this data, which is also saved together with the document.

The other party then has the right to access the data. If the second party accepts the offer, it must in turn submit a document with the promise to the providers, referring to the offer, so that offer and acceptance can be automatically linked. The conclusion of this contract can thus also be proven in court proceedings. The proof can be provided by an Internet-capable computer as well as by an Askemos access. Once the request for evidence has been received by the court, all that remains to be communicated to the court is the identifier of acceptance so that the court can verify the authenticity of the documents.

However, Askemos is merely a contract description language describing a concept that allows independent registers to be checked with arbitrary values. However, the registers are not linked to a specific value, such as a monetary resource. The different crypto currencies contain special cases of such registers in which the respective crypto currency is contained. Numerous crypto currencies also contain various mechanisms through which general assets as well as smart contracts can be managed. For example, the crypto currency Namecoin contains a replicated domain name registry. Other currencies such as Ethereum or Ripple contain replicated securities for different asset classes.