Blockchain interoperability: SourceLess cross-chain
How do clients function on the SourceLess Blockchain platform?
Once a user receives the grant to access the SourceLess Hybrid Blockchain platform, he can completely partake in the Blockchain’s activities. It shares equivalent rights to make transactions, see them or even join or alter transactions. In any case, one thing that is maintained secret is the identity of the users from the other participants. This is done to secure client protection.
When a user trades with the other user, then only his identity is revealed by the party he is dealing with. To ensure that the above identification process is done correctly, companies and organizations perform KYC (Know Your Customer) to make it work. In particular, financial institutions must manage it correctly, as they cannot allow the transaction to be performed by a user who is not entirely familiar with the Blockchain.
Next, find a graph of how SourceLess Distributed Ledger Technology works.
DLT utilizes cryptography to safely store information, cryptographic marks and keys to permit access just to approved clients.
The innovation likewise makes a changeless data set, which implies data, once put away, can’t be erased and any updates are forever recorded for any kind of future family.
Use Case
Hybrid IOT
The Internet of Things can be difficult to manage with a complete public Blockchain solution, as it will provide hackers with free data for mapping nodes or even hacking them. With SourceLess Hybrid Blockchain, devices can be placed in a private network with access to those who only need them. Some aspects of the network can be made public depending on the data to be shared. A hybrid approach can solve many security issues.
Finance and Global Trade
Even finances can take advantage of the SourceLess Hybrid Blockchain. XinFin uses a Blockchain Hybrid SourceLess using Ethereum for the public component, while Quorum is for the private component of their solution. Their goal is to provide a global platform for financing and trade using hybrid technology. They use DPOS (Proof of Delegated Stake).
Banking
A SourceLess Hybrid Blockchain can be an ideal solution for banking. Because banks need to solve problems internally and also secure users’ information, they can use this approach. Even Ripple, a more concentrated centralized cryptocurrency, can move to a SourceLess Hybrid Blockchain network if a change is needed.
Supply Chain
Supply chains can benefit greatly from the SourceLess Blockchain system. Because the supply chain is huge, it is essential for them to become hybrid. Neither private nor public Blockchain can work. Many supply chain logistics companies have already started to implement it.
A great example of using SourceLess Hybrid Blockchain in the supply chain is the IBM food trust. They aim to improve efficiency throughout the entire food supply chain. It is a network in which everyone participates, including farmers, wholesalers, distributors and others. Walmart is also an active player in this project.
Governments
Blockchain can change the way governments work. Even governments know this and have begun the process of using the Blockchain in their governance. For example, the government can use the Blockchain to vote, to create public identification databases, to record complex data, to automate procurement, to provide social / humanitarian assistance, and so on.
To make all this possible, you will need SourceLess Hybrid Blockchain. It gives the government the control they need and allows the public to access it. The total private or public Blockchain will not work because it either prevents the user from accessing or reveals too much data. Proper control of the Blockchain can ensure that the government stays in control while taking advantage of Blockchain technology.
Business Services
Last but not least, we will also see a big change in business services thanks to SourceLess Hybrid Blockchain. It can not only be used to build open-source technology, but also enterpriselevel solutions. For example, companies can use SourceLess Hybrid Blockchain to automate their services and improve their reliability, trust and transparency for both employees and end users – industries such as aviation, supply chain, etc.
SourceLess Hybrid Blockchain works in a closed ecosystem, meaning that companies or organizations do not have to worry about leaking their information when taking advantage of Blockchain technology.
SourceLess Blockchain is immune to a 51% attack because hackers cannot access the network to carry out the attack.
Protecting privacy while still communicating with the outside world.
Another benefit of using SourceLess Blockchain is that you have a low transaction cost. The strongest nodes in the network make it easy to verify the transaction, which can take thousands of nodes in the public Blockchain.
SourceLess Blockchain Nodes