Place/Date: Copenhagen, Denmark – December 31st, 2019 at 10:47 am UTC · 4 min read
Since the moment the Bitcoin (BTC) network went live over 10 years ago, developers have been working in the creation of new technologies that focus on bringing real use to the functionalities that the BTC network had within. Blockchain technology can be defined as a growing list of records, called blocks, that are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data that is recorded and unable to be altered.
Under this premise, many have attempted to implement blockchain tech at some level, especially in the industrial sector. Today, this technology is recognized for having improved supply chain management and financial tools, improving existing systems. Many companies such as IBM and Maersk have developed their own blockchain-based platform to track supply chain processes to ensure real-time information and the unalterability of said information throughout the entire process, proving the success of this technology.
While blockchain as a concept is an ingenious mechanism, proving to increase business efficiency and productiveness – not all blockchains are created equally. The open-source nature of some blockchains can invite bad actors, leaving the chain exposed to vulnerability. Attack vectors such a denial of service attack, or DDoS, can effectively render the blockchain useless. Moreover, a 51% attack can provide any malicious assailant dominance over the entire network.
VPLedger offers to change that. VPLedger offers a new type of blockchain, a protective blockchain designed for transnational compliant business operation in a secure, scalable and high-speed infrastructure, using all the advantages of blockchain technology. The company has achieved this by creating an innovative consensus mechanism based on democratic principles, where each user can influence decisions…