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This Is The Blockchain: Expectations vs. Reality

This Is The Blockchain: Expectations vs. Reality

We have discussed Blockchain technology in our “Everything You Need To Know About Blockchain” article. In that article we have learned about:

  • Immutability
  • Distribution
  • How trust issues can be resolved with Blockchain
  • Blockchain in the financial industry
  • High integrity with Blockchain

– and more

You might find it useful to read that article first as a useful overview of what people mean by The Blockchain. We also talk about cryptocurrencies built with Object Pascal/Delphi programming language.

What is the blockchain?

Blockchain is simply a database containing a growing list of records named blocks, linked, and secured using cryptography. Each block holds a hash pointer that links to a previous block, timestamp, and transaction data. So, now we have a chain of blocks or just blockchain as many people call it. To point out that this chain of blocks or database is open, distributes system with every participating computer maintains a copy.

What are the expectations of Blockchain?

Market investigation indicates that blockchain technology will rule the future because of its many benefits like:

  • Data transparency
  • Immutability
  • Decentralization
  • Security

A growing number of people think Blockchain is the future because it inspires a new generation of platforms that are easy to use, accessible, scalable, and interoperable.

What is the reality of Blockchain?

This Is The Blockchain: Expectations vs. Reality - Reality of Blockchain

Despite the possibility that blockchain technology is not supported by many countries because of limits and control over blockchain projects. For instance, governments are fighting to not utilize Blockchain.

Unless if blockchain technology matures through enough reforms to support the problems that we are having, it can be applied to every field of our society.

Until now, blockchain technology has been a massive breakthrough in the financial industry:

  • Cryptocurrency
  • Decentralized Finance (DeFi)
  • Art Collectibles – Non-fungible token (NFT)

When companies started to accept cryptocurrencies, people started looking at the underlying technology that made cryptocurrencies possible. They are based on the basic concepts of cryptocurrencies applied to the deployment of general-purpose applications. These applications are called Smart Contracts, and this defines the business logic and after deployment to the network, it can be used to implement different use cases securely.

Is it really worthwhile to integrate Blockchain technology?

Technologies take time to be accepted by everyone. Blockchain technology can be a problem in some cases with specific people. But we can see that the financial industry is benefiting from this technology because it offers immutability, transparency, and reliability. For example, Blockchain has all the needed features in supply chains. Supply chain data is not always perceptible, available, or trusted. But blockchain technology helped them to create authenticity over these problems. 

How to create decentralized applications with smart contracts in Delphi?

You can utilize Delphereum which is an interface for the Ethereum blockchain that allows native development of decentralized applications using the Delphi programming language. In fact, the stability, security and blinding speed of Delphi native applications means it’s ideally suited to the task,

Moreover, you can find samples of applications for starting your project with the Ethereum distributed computing platform. You can check out the post below to learn about using Ethereum with Delphi, smart contracts, and more helpful topics.

Next-Generation Cryptocurrency – Pascal

pascalcoin-delphi-object-pascal-blockchain-cryptocurrency-9565531

Pascal, also known as PascalCoin, is a fast, zero-fee, scalable, and decentralized multi-purpose blockchain designed for payments, data operations, and layer-2 applications.

Enabled by the SafeBox technology to become the world’s first truly infinite scalable blockchain system, Pascal possesses unlimited potentials. Besides you can check out the project source code that is built with Object Pascal/Delphi programming language.

You can learn more about PascalCoin here:

What is the MicroCoin cryptocurrency?

micro-coin-delphi-object-pascal-3437610

MicroCoin is an experimental, research project to explore the potential of the blockchain and a peer-to-peer cryptocurrency that supports instant, almost-free transactions for anyone in the world.

  • Excellent for real commercial use
  • Micropayments
  • Interpersonal Transaction
  • Easy to develop online payment, billing, or billing system
  • With the interfaces integration is smooth

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About author

Software Developer | B.Tech-CSE at AUT | Delphi/C++ Builder Enthusiast | Microsoft Learn Student Ambassador | Microsoft Azure Certified | Udacity Alumni
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