Blockchain technology is often touted for its great security in preserving transaction records. However, blockchain isn’t impenetrable. After all, a line of incorrect coding or a small computer network backing the blockchain could lead to unwanted transactions, meaning companies must assess and be aware of any risks in their blockchain-based software, experts said. Continue reading Blockchains Are Susceptible to Attacks
One of the main characteristics of blockchains is that, in order to evolve, they must resort to implementing hard forks. This effectively takes the chain off in a new direction while adding the necessary upgrades. Forks can be controversial since they have the power to rewrite the blockchain’s previous path. So, what are self-amending blockchains and can they offer an alternative to forks? Tezos cryptocurrency thinks so, but not everyone is in agreement. Continue reading Self-amending blockchains: Can Tezos offer an alternative to forks?
It may surprise some people to learn that JPMorgan Chase is invested in the blockchain. Umar Farooq, a banker turned blockchain leader at JPMorgan, discussed how the bank is using the blockchain and didn’t shy away from bitcoin. He was speaking at the Yahoo Finance All Markets Summit for Crypto in New York earlier this week. He spoke of “active engagement” with blockchain internally, as teams from across the bank’s operations are increasingly looking to distributed ledger technology as a possible solution to problems. Farooq’s at the head of that business, and he’s more open-minded about bitcoin than you might think. He said that while the industry may say blockchain’s good and bitcoin’s bad, that’s now how JPMorgan, the top US bank based on assets, sees the world. “We all believe in blockchain good. I wouldn’t go as far to say cryptocurrencies bad. I would say and cryptocurrencies have issues.”