Is Blockchain Technology A Solution for Businesses Today? 

 Blockchain Technology

A powerful part of a digitally-transforming world, blockchain goes beyond its fame as the tech behind Bitcoin. When blockchain was introduced as the building block of cryptocurrency, it changed the world forever by restoring transparency to online transactions and ownership.

Whether digital identity or banking, blockchain revolutionizes our lives and works. Various concepts such as the metaverse and web 3.0 will depend on this technology. But to achieve this, developers play a vital role.

Different Blockchain networks provide various development tools to the developer. However, some of the developers' struggles during developing applications include the following.

  • Maintenance - The code and data published to the blockchain are more challenging to modify. Developers have a hard time updating deployed applications.
  • Performance overhead - There is a considerable performance overhead, and scaling is hard. The consensus mechanisms play a significant role in the integrity and reliability of the network.
  • User experience - End users may have difficulty setting up the tools required to interact with the blockchain in a truly secure way because it may be more challenging to engineer a user-friendly experience.
  • Network congestion - When a network application uses too many computational resources, the entire network is slowed down. Unconfirmed transactions can quickly balloon if transactions are not processed quickly enough.
  • Language and Interoperability: Sometimes, the blockchain code doesn't allow interoperability among blockchains, making them code the same with different programming languages.

Top companies like Visa, Walmart, Ford, Scotiabank, Wells Fargo, Sunoco, and HSBC use blockchain to solve problems in their enterprises.

For example, Walmart and its technology partner IBM developed a food traceability system based on Hyperledger Fabric. Walmart can now trace the origin of over 25 products from 5 different suppliers using a system powered by Hyperledger Fabric.

The creation of new blockchains must be facilitated by a software development platform. Many platforms like Tezos, Ethereum, Cosmos, NEO, and Cellframe provide development kits, thus making it easier for developers to find business solutions.

Do next-generation blockchains hold the key?

Next-generation blockchains, like Cellframe, are an example of an enterprise blockchain. They provide a reliable and stable solution for developers in new blockchain Dapps and existing blockchain Dapps on other platforms.

From the outset, the primary mission of the Cellframe network was to bring Post-quantum encryption and multi-level sharding as the essential elements. In addition, a multi-algorithm signature helps developers to protect data from quantum hacking techniques and compromise. This ensures that all applications on the network are secure in the present and future.

The network is built by integrating dual-layer sharding, conditioned transactions, and multiparty computations. Sharding helps spread the server load by parallelizing the processing on the Cellframe blockchain.

Additionally, it was created to optimize for higher interactivity loads. So it is built as a flexible and efficient system that could solve the problem and helps developers to bring better solutions.

Cellframe is developing a turnkey hardware node based on a Raspberry Pi microcomputer. It will come with a wallet containing 1000 CELL, enough to be a masternode for the Cellframe ecosystem.

Layer-0

Wouldn't it be interesting to have a shared platform for software developers and manufacturers? This is exactly what Cellframe does. Cellframe encourages the creation of network products that can communicate with each other over the network, reducing complexity and speeding development.

Cellframe is the first zero chain with the architecture, which allows developers to reach a gigantic level of scalability and virtually infinite bandwidth and create the maximum level of security.

As a result, Cellframe offers enterprise-grade scalability with the fastest performance. Furthermore, the service-oriented platform aims to create infrastructure for low-level decentralised access services through its multi-chain nature.

Consensus mechanism for developers

We are familiar with the existing Proof of Stake (PoS) system. It is an advanced and efficient way to verify and validate the transaction or block.

Cellframe uses a Proof of Stake consensus mechanism to verify transactions made on the network. As a result, scalability can be achieved with comparatively lower power consumption for faster and more secure transactions.

A new Proof-of-Memory consensus is being built in partnership with Empera blockchain protocol with commission-free transactions and JavaScript smart contracts, which make cell frame developers friendly. In addition, Cellframe has fewer gas fees than other blockchains.

Each independent blockchain running on this consensus will have built-in bridges to the other blockchains on the network. This makes it possible to create Web3 applications that function no differently from the cloud applications.

Final Thoughts

With Cellframe, the developers can build solutions and Dapps for enterprises in a zero-level blockchain and distributed systems because it can solve several existing challenges in the space: scalability, security, and flexibility. Moreover, we ensure a secure and transparent solution for you. With all the features, Cellframe, as a blockchain for business, supports developers in developing solutions for finance, data science, e-commerce, inventory, and more virtually infinite possibility.