Blockchain: Advantages and use cases

  • Public: these are decentralised Blockchain with no network access limit. Any user can execute transactions and create a new block, but no one has the right to modify the information stored in the chain or alter the protocol that determines its operations. The main examples are Bitcoin and Ethereum.
  • Authorized: subject to the discretion of a central authority that determines who can access the chain and the roles played by the various users, assigning each one the relative level of visibility of the information. Hyperledger Fabric and Ripple are the best known examples.
  • Private: they have the lowest degree of accessibility to data and the highest level of control by a central authority, which also has the power to modify the protocol that determines the functioning of the network and freely refuse transactions that do not adhere to this protocol.
  • Efficiency: the exchange of these values takes place in real time.
  • Decentralized structure and security: blockchain data is not stored on a single computer but within a distributed network of nodes, so the system and data are highly resistant to technical errors and malicious attacks. Each node is able to replicate and store a copy of the database.
  • Incontestability: the decision to validate an information is not taken unilaterally but through a mechanism of consensus gathering within the network, making it particularly difficult to question the outcome.
  • Immutability: transactions and data that are recorded within the blocks are immutable.
  • Traceability: concerning data and transfers.
  • Transparency: any authorised person within the network can view the amount, sender and recipient of any transaction at any time.
  • Trustless system: unlike traditional payment systems, transactions do not require any financial intermediary.
  • Programmability: instructions can be included within the blocks to trigger specific actions when certain conditions occur.
  • Ductility: can be used for both commercial and private purposes.

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AstraKode

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AstraKode was founded with the aim to facilitate innovative enterprise solutions development through low-code.

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