Blockchain technology started to gain popularity in 2008 with its utilization for bitcoins. Essentially a blockchain is a distributed ledger which is managed, often publicly, on a peer-to-peer network. This technology brings about new powerful properties on how data is managed over the internet.
Any change made in the blockchain is permanent and therefore data cannot be altered or tampered with.
Blockchain technology is managed by a group of nodes and thus does not rely on any centralized authority that can be corrupted or shut down.
By design, data is shared between multiple nodes without any central point, so it cannot be stolen. Encryption adds another layer of security.
The network is maintained by the system users leading to transparency or robustness.
The decision making process is managed by consensus algorithms, allowing the network to be trustless.
Blockchain achieves a high transaction throughput at faster speed than traditional networks through layered technologies.
Blockchain allows for automation of new transactions and controls via “smart contracts”.
Both open source and interoperable, anyone can write and assemble code into the blockchain, spearing innovation and creating a fluid environment for users.
The design of blockchain technology has led to the rapid expansion of an entire ecosystem of applications and protocols. This ecosystem is often referred to as Web 3.0, a decentralized network that represents the latest generation of internet applications and services powered by distributed ledger technology, the most common being blockchain.
Users can consume data on the internet. (online news, online photo albums)
Users can write and interact with data on the internet. (social media, Uber)
Users can own their data. The network can be trustless and permissionless. AI Systems are able to interpret information and run smart programs.
Cryptocurrencies are becoming popular as payment options. Is your business ready to accept this new form of payment?
Businesses have started to hold cryptocurrencies on their balance sheet as an investment asset and an edge against inflation. Have you considered Blockchain for diversifying your asset strategy?
Cryptos are becoming a new way to access liquidity in a much more efficient and less costly way. Explore how to leverage this technology to access new capital.
Blockchain technology allows for creating programmable contracts which can be enforced automatically. Leverage this new power to cut your operational and legal costs.
Similar to the internet, blockchain technology is likely to initiate waves of innovation across all industries. Are you ready to leverage this new technology instead of getting disrupted by it?
We conduct workshops to help you and your business leaders better understand the key concepts related to blockchain and cryptocurrencies and how you can leverage this new technology through concrete use cases.
Through customized assessments and business audits, we help you identify new growth opportunities that blockchain can unleash for your business, while surfacing key challenges your business might face with the rapid development of this technology.
After analyzing your company’s ecosystem, vision and business objectives, we help you design a blockchain strategy that will guide your digital transformation journey reliably.
We use Lean and Agile software development methodologies to transform your ideas into reality. Blockchain POCs allow you to quickly test ideas, while staying on budget.
You have the idea, we build it. We help you create impactful blockchain platforms that drive business value and are fully integrated into your day-to-day business operations.
We help you define support and maintenance processes for your blockchain projects to ensure smooth operation.
At Altera, we tackle all our DX projects following a robust methodology that we have developed over the years and throughout our experience.
