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The Interoperability Problem of Blockchain May Soon Be Over

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Kardiachain
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Crypto traders have certainly had a rough time since early 2018. The markets have tanked resulting in large losses for nearly everyone involved in the market. While that’s bad, what’s even worse is the fact that many projects have failed to deliver on their roadmap. Blockchain technology has been hailed as the next great advance in technology. And while many companies are making strides toward fully implementing blockchain-based technology, there is still a long way to go. As promising as blockchain technology is, there are still limitations that need to be addressed.

Limitations of Blockchain Networks

Although blockchain technology is certainly the future, the existing technology will need to be improved before it can go mainstream.  A few of the current limitations include:

  • Limited Scalability – Blockchain networks have consensus mechanisms that require each node to verify a transaction. This verification requirement slows down the network and limits the total number of transactions that can be processed.
  • Limited Usage – Each blockchain network was created with specific usage in mind. Because of the limited number of use-cases, each network eventually suffers from a never-ending loop of limited adoption. In the end, this causes low awareness.
  • Lack of Interoperability – At present, individual blockchain ecosystems are unable to communicate with each other. If a blockchain network attempts to retrieve information from an external (outside the “chain”) source, each node would have to perform the operation. But because each node acts individually, and an outside source is being used, there is no guarantee that each node will receive the same answer. This lack of homogeneity would break the consensus and therefore kill the blockchain.
  • Privacy Concerns – Users tend to think of blockchain as offering the utmost in privacy protection. However, in the case of public blockchains, all transactions show up on the public ledger with all the wallet addresses. And, although identities aren’t shown on the ledger, with enough detective work, they can easily be discovered. There is a reason why privacy coins exist!
  • Security Issues – Most people involved in the blockchain/crypto space have likely heard of a 51% attack. But what does that actually mean? If a majority of nodes give false information, the false information becomes true information. Satoshi Nakamoto highlighted the dangers of this type of attack when he launched Bitcoin in 2009.

Solution for Lack of Interoperability

In order to take blockchain technology mainstream, the above referenced limitations must be addressed. Fortunately, there are several companies working on solutions. In particular, Kardiachain (KAI) is working on addressing the issues of scalability, usage, and interoperability.

In an effort to vastly improve interoperability, Kardiachain has developed a dual node, which can establish a connection between Kardiachain’s blockchain and another separate blockchain of the user’s choice. The company’s dual master node has three primary components:

  • Translator: Utilizing Kardia Smart contract language to break the language barrier between different platforms.
  • Router: Leveraging algorithms in routing transactions to best-performing chain.
  • Aggregator:  Batching new updates from participating chains to reduce strain on Kardiachain main chain.

The dual node solution allows for a practical and non-invasive way to facilitate a secure and decentralized interchain connection, reduce cost and increase speed.  Unlike many blockchain networks offering interoperability with a standard that other blockchain needs to change to be compatible with, the end goal is to build a harmonious ecosystem that can efficiently utilize the unique strengths of all the participants.  If successful, Kardiachain would essentially become the blockchain of blockchains.

Conclusion

Although blockchain technology is quickly being adopted by companies across the world, there is still a long way to go before the technology reaches mass adoption. And, in order to reach that stage, Kardiachain has taken on the herculean task of addressing some of blockchain’s major issues such as adoptability, interoperability, and scalability.

The company is especially focused on becoming the industry-leading blockchain project in Vietnam. Vietnam is not only the fastest developing country in Asia but also has a government that is open and eager to embrace blockchain technology. This really sets it apart from other nearby areas of Asia. Mass adoption is coming to blockchain technology, it’s only a matter of time. With the technology improvements that are being developed by Kardiachain and others, that time may be coming a lot sooner than some think.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Photo by Miguel Á. Padriñán from Pexels

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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