Briefly explain the context of the business (Celsius Network) that blockchain has been used? Explain the...

Briefly explain the context of the business (Celsius Network) that blockchain has been used? Explain the business problem that the blockchain solution is solving for Celsius Network? How does the Blockchain solution work?

Solutions

Expert Solution

A block represents the 'present' and contains information about its past and future. Each time a block is completed it becomes part of the past and gives way to a new block in the blockchain. The completed block is a permanent record of transactions in the past and the new transactions are recorded in the current one.

In creating a blockchain, organizations need to define the specific problem they are trying to solve. Then they must determine which transactions or interactions the blockchain should capture and who should have access to which portions. (See “Key Questions for Companies Designing Blockchains.”) Blockchains can be scaled and used to interact with any number of different stakeholders, whether customers, employees, suppliers, or other companies. Verification is a key benefit.

Decentralization. Blockchain does not store any of its information in a central location. Instead, the blockchain is copied and spread across a network of computers. Whenever a new block is added to the blockchain, every computer on the network updates its blockchain to reflect the change.

ekkarill92 answered 9 months ago

Next > < Previous

Related Solutions

What is the role of network administration? Briefly explain?

AM Enterprise, a merchandising business, has been in operation for a few years. The business used...

AM Enterprise, a merchandising business, has been in operation for a few years. The business used the perpetual inventory system in its transaction recording. Below is the business’s Trial Balance as at 31 December 2019: AM Enterprise Trial Balance as at 31 December 2019 Debit Credit RM RM Cash 17,500 Account Receivable 6,200 Merchandise Inventory 8,000 Office Equipment 24,000 Accumulated Depreciation - Office Equipment 7,200 Account Payable 6,500 Capital 42,000 55,700 55,700 The transactions occurred during the month of January...

imagine you are a network engineer who has been hired to design a network for a...

imagine you are a network engineer who has been hired to design a network for a small company consisting of a headquarters office in Indianapolis, Indiana, and a branch office in Minneapolis, Minnesota. The company has hired you to design and build the network infrastructure from the ground up. Following is a brief summary of the business structure: Indianapolis, IN This office is the headquarters for the company. It has 61 employees divided across the following three departments: • Administration:...

Explain in detail the Medium Term Expenditure Framework (MTEF) in the Zambian context. What has been...

Explain in detail the Medium Term Expenditure Framework (MTEF) in the Zambian context. What has been the effect of adopting it as an expenditure management framework?

Can you explain why the blockchain technology has lacked political support?

The concept of returns to scale has been used by business managers in order to increase...

The concept of returns to scale has been used by business managers in order to increase the production efficiency to assess the productivity of organizational inputs like labor, machinery and equipment, and even technological innovation. a. Describe the concept of returns to scale (RTS). Is it a short-run (SR), or long-run (LR) phenomenon? b. List and describe the three types of RTS. Give an example each type of RTS (Increasing Returns to scale-IRTS, Constant returns to scale-CRTS, and Decreasing Returns...

Question