Online.io Blockchain current and future evolution
Website : https://online.io/
Blockchain current and future evolution
Each distributed system needs a consensus algorithm to validate transactions. Over the last few years the Proof-of-Work algorithm has dominated, not to say was the only one used. As the cryptocurrency ecosystem evolves — the race to create a better consensus algorithm began.
The current year can become the year of competition between different mining algorithms / strategies. The following strategies are currently most widely known:
Proof-of-work (PoW) - (Reference #2). Coins are distributed based on the work performed by the user to demonstrate his input on processing transactions and doing work for the whole infrastructure. This is the group of algorithms that provides slow calculation of some result and fast verification of this result. This helps to ensure that miners have to perform some complex computations on their hardware to find a block, but Blockchain network users that confirm this block don’t need to perform such computations and can easily check that result is correct using low resources.
Proof-of-stake (PoS) – (Reference #3). Coins are distributed based on the user’s previous investments. The more investments a user has the more coins he will receive.
Proof-of-elapsed time (PoET) - (Reference #4) is a relatively new concept. Coins are distributed based on the proof that the user was doing some specific action for a rather long period of real time. Proof of time algorithm was invented by Intel and it is mainly associated with their hardware platform that provides very fast consensus model. It generates random numbers (wait time) on miner’s nodes and then chooses the node with the lowest number. So, it works like a lottery but with more complex algorithm designed to provide more optimizations. Intel promises that this algorithm cannot be broken by external actions and provides honest consensus model. This makes PoET perfect for private Blockchain when you need performant distributed storage and don’t want to force your hardware to make complex computations. The only minus is the restriction on Intel’s platform (Sawtooth Lake).
The proof-of-elapsed time has not become popular and well adopted yet. But in the near future it may be intensively developed. Future adoptions may not be the exact algorithm designed by Intel, but rather some variations of the concept. Website : https://online.io/
Context & Objectives
When people hear about “Blockchain”, they think about Bitcoin, the world’s first cryptocurrency, which aims at changing the global economy. However, Blockchain, Bitcoin’s underlying technology is poised to disrupt other sectors as well. Starting last year there was a huge hype around the Blockchain technology stack and especially Ethereum-based start-ups developed to impact more common areas of our day-to-day routine and not only the banking and financial sectors (where paying intermediaries fees are no longer required). Blockchain technology started to be used for activities such as grocery shopping, online marketplace, paying for your dream house, car, holiday, etc. Website : https://online.io/
The advertising industry is yet another sector that is going to be reshaped by the Blockchain technologies, which accordingly to market experts could be the most groundbreaking change within the industry since the emergence of smartphones and social media.
Considering that over 40% of world’s population has Internet access, the advertising business enjoys a large source of data, and in recent years, their focus has been on big data. However, evolving capabilities and changing regulatory prospects will affect how advertisers connect and engage customers in the near future.
Recent studies regarding users experience with digital ads revealed that more and more consumers seem consistently unhappy with digital advertising for three main reasons: security, privacy and fighting annoyance from intrusive ad formats.
Online.io is implementing a decentralized ecosystem which combines all necessary features for a faster, safer, and more private Internet browsing. Moreover, through the Online.io platform developed by using the most advanced Blockchain technology, both internet end users and website operators will benefit alike.
Enhanced Online experience for Internet users. Bypassing digital advertisements means faster webpage loading time and a more enjoyable browsing experience due to removal of disturbing ad formats. According to a 2016 survey, 91% of consumers appreciated that digital ads were more intrusive than two years ago, while 81% of them stated that they have closed a browser or exited a webpage because of pop-up ads.
Also, Online.io offers an enhanced protection of consumer data first off due to added security of Blockchain technology which will eliminate demographic and behavioral profiling from being collected and used without prior consent. As internet users are able to rate each website according to their experience, this will lead to the creation of a ranking of trust-worthy websites.
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