The Future of Blockchain (Topic)

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The Future of Blockchain


What uses of blockchain may appear in the future. What is the future for this technology, which, by the way, is the basis of all cryptocurrencies. How will this technology develop further?

The blockchain itself is a promising technology, but not all the potential opportunities of this technology have been realized yet. With the help of blockchain, in the future it will become possible to implement the most daring projects, for example, holding elections that cannot be falsified. This is not a fantasy, there are already many projects that allow us to predict future development options.

Fair elections

Fair Election

Blockchain-based elections technically look like a simple deal. The Election Commission sends special colored coins to the electors. This is a technology that makes it possible to link coins to certain assets, for example, coupons, shares, etc.

Then the voters transfer them to the account corresponding to one or another candidate. At the end of the election, in order to determine the motivator, it will be enough to count the coins on the accounts. Anyone can follow their vote using the open blockchain.

And to protect the personal data of voters, colored coins will be distributed using blind signature technology - a cryptographic protocol with which you can certify a document with a digital signature unknown to one of the parties.

Reviving inactive torrents

animate torrents

Torrents are a convenient way to get content . However, it is not always possible to download a rare movie or an old album via torrent. It all depends on the seeders serving the files.

Usually, they get nothing for it, except for the rating on some closed trackers. Torrent client Tribler has developed a blockchain-based reputation system to punish inactive file sharing participants who disconnect from a download immediately after a download and reward active seeders. This system is based on MultiChain technology.

A separate chain is formed for each participant. The interaction of two participants in the file exchange is recorded in each block - download and upload. Blocks are written to each participant. Using this data, each of the hosts will be able to reject requests from inactive users.

Protected domain name

Protected Domain Name

Using DNS, users access sites using domain names, without using IP addresses. But a domain name can be taken away from a site for various reasons. With the help of blockchain, it will be possible in the future to create a system of censorship-protected domain names.

Using a special cryptocurrency, the user will be able to host the site in a special domain (like .nxt in NXT or .bit in Namecoin). The transaction binds the site to its IP address. Also, in addition to the IP address, it is possible to use the Tor network address.

Such a domain name will be impossible to forcibly take away. Currently, such projects have not yet become widespread, so in order to access such a site, you need to connect a DNS server that supports a specific blockchain, or install your own.

Defense against directional attack

Directed attack

A targeted (targeted) attack is used by hackers to attack a specific device of interest to them. Even in the case of a high level of computer protection, a criminal can try to hack into the computer using the update system.

The malicious code will enter the computer along with the program update. The well-known ransomware Petya spread in a similar way.

You can protect yourself from such an attack by comparing your updates with those received by other users. If your file is different from the rest, that's a cause for concern. Information about the updates downloaded by users will be in open blockchains. A similar protection method is currently used in the Arch Linux distribution.

Tamper-proof archives


The date of creation and modification of files on computers can be easily falsified - you need to set the system clock back and then perform the necessary operations.

Even those using encryption are prone to this problem. With asymmetric encryption, in case of theft or loss of the private key, its owner has the ability to revoke his keys, so the interlocutor will be able to distinguish the culprit if the message is signed with an incorrect key.

But the problem is that a criminal can create and sign such a message retroactively to circumvent this limitation. After all, the exact time at which the files were created may need to be accurately established for litigation or investigation.

To prove that a file was created no later than a certain date, you can use the blockchain. This option is offered by the OpenTimestamps project. The hash of your file can be written to the transaction - in the case of a non-existent object, it will be impossible to calculate.

Creation date is stored in each block. In fact, it is virtually impossible to change or falsify this time stamp. However, the use of many blockchains, in particular bitcoin, is inefficient due to their low bandwidth.

To solve this problem, OpenTimestamps stores basic information about files in a separate database, and only their hash is stored in the blockchain.

In general, the future of blockchain technology looks very bright. Already, on the labor market, you can find monstrously expensive vacancies for specialists in blockchain and cryptocurrencies. So, if you've been thinking about what is worth learning, then you should look at blockchain and cryptocurrencies.

The Topic of Article: The Future of Blockchain.
Author: Jake Pinkman