Fincor Blockchain

Fincor Blockchain World’s first ultra-fast, super-scalable cross-chain Layer-1 ecosystem

30/11/2022

Perhaps blockchain is just a transitional stage to something fundamentally new, or maybe it is a real virus that cannot be stopped. Time will tell. In any case, the world around us will no longer be the same, and blockchain technology will affect everyone.

Today, blockchain is the standard for digital transactions and the golden key for businesses in digital transformation. Thanks to its decentralized structure combined with cryptography and the ability to ensure data integrity, blockchain is becoming one of the leading technologies for creating smart cities, accelerating business processes, providing a high level of security in peer-to-peer transactions and eliminating the need for intermediaries.

And as you know, in digital transformation, speed is one of the key factors that set you apart from the competition.

29/11/2022

Whether in a professional or private context, each of us regularly encounters a type of Internet scam called phishing. Aware means armed: to prevent you from becoming a potential phishing victim, we'll tell you what phishing can be like:

📍Spear Phishing, mainly targeting organizations to gather information about potential victims.

📍Smishing is sending an SMS with a request to open a link contained in a message.

📍Vishing is when attackers create a WiFi network, which, when connected, takes users to a phishing site.

📍Social media and search engine phishing: In August 2019, Fstoppers reported a major Instagram phishing scam where users unknowingly gave hackers access to personal information.

And then there's Whaling, Clone Phishing, Evil Twin Phishing and, most annoyingly, phishing is already reaching out to blockchains, custodial wallets and even smart contracts.

25/11/2022

In October 2022, a hacker made about $570 million in cryptocurrency through a bridge used by the world's largest cryptocurrency exchange, Binance. According to a statement from Binance, about $100 million of the stolen funds could not be recovered, and the remaining funds were frozen.

Bridges are still a stick of two ends, which, despite its merits, is successfully used by hackers. However, it is an inevitable scaling path for most key blockchains, which remain effectively isolated from each other.

Fincor eliminates the need for cross-chain bridges by offering users a more modern and reliable solution. Direct interoperability at the L-1 level provided by the Proof-of-Unity protocol enables cross-chain exchanges directly, without intermediaries in the form of "shaky" cross-chain bridges.

21/11/2022

How does a smart contract work in blockchain?

The creator of the concept of smart contracts, Nick Szabo, compared how smart contracts work to soda machines. We're going to give you an example of online marketplaces.

If the marketplace allowed the buyer and seller to use a smart contract as the basis for trading, this form of fraud would be virtually impossible.

Imagine, a buyer transfers a specified amount for an item into a smart contract. The seller can verify that the transfer has been made and ensure that the merchandise is mailed. If the seller fails to ship the item within the specified time, the money goes back into the customer's account.

When the customer confirms receipt of the goods, the smart contract "releases" the money and sends it to the seller's account. In this way, neither party benefits from trying to cheat the other.

18/11/2022

Blockchain protocols make secure cryptocurrency data and transactions possible. All the protocols aim to achieve or maintain the four key principles of cryptocurrency: decentralization, consistency, security and scalability. Protocols ensure that each individual transaction is verified by developers and engineers and is as successful as possible.

Many of the protocols allow individuals to make financial transactions without banks, preventing the problem of double spending by enabling users to manage their data and have digital blockchain wallets.

Blockchain protocols serve as the backbone of all cryptocurrency and are critical components that facilitate the transfer of data in the most secure way possible, without the involvement of intermediaries or any central authority.

16/11/2022

Cryptocurrencies, NFT, GameFi are just some of the many discoveries that work on the blockchain platform. Globally, a lot of other distributed apps such as DeFi, DAO, SocialFi, IPFS, etc. are being developed and improved. For example, dApps have proven excellent: they are optimized, more efficient and more flexible than centralized systems.

They are also an ideal model for connecting to the billions of IoT devices that will come into our lives with the growing popularity of 5G and 6G networks.

All of these advances are helping to change the face of the Internet as we know it into a new version called Web3. Blockchain is creating a new generation of the Internet, where the Internet belongs to the users💥

12/11/2022

Surprisingly, DAO replaces managers with smart contracts. Now let's explain 👇

Essentially, in DAO, managers are replaced by smart contracts that define the rules of the organization. This allows much faster decision-making and reduces the cost of management in general.

Let's also note the special advantage that blockchain offers: everything is completely transparent. All the rules contained in a smart contract are open source, so anyone can view them. This also applies to all transactions the DAO makes on the blockchain.

Membership in a DAO is often through a fixed allocation of tokens to members (airdrops, rewards) or simply by buying and owning the relevant token. The possibilities of using DAOs are very diverse, as blockchain allows the creation of new forms of organization and collaboration.

12/11/2022

How is the transaction fee formed in blockchain

09/11/2022

Since the beginning of the Internet, network protocols have been used to transfer data from one computer to another (HTTP, TCP, IP protocols). On a blockchain network, data can also be transferred between users, but in a slightly different way than in the case of conventional Internet protocols.

In the blockchain world, protocols are sets of codes or requirements that govern the blockchain itself and define the rules by which nodes can become part of a blockchain network.

The main feature of blockchain protocols is the decentralized database used by users from around the world in different parts of the world. Blockchain protocols operate through a P2P network where each transaction is processed and stored by nodes.

Transactions in blockchain are encrypted using advanced cryptographic techniques, which is why blockchain protocols are more secure than traditional ones.

07/11/2022

Did you know that blockchain protocols can be divided into three classes?

✔️Layer 1, where blockchain is a technology function. This is the layer where the magic of consensus works, whether PoW or PoS, where all incoming transactions are confirmed and encrypted, and written into the current block. Fincor is an L-1 solution and acts as a "blockchain of blockchains" in a cross-chain environment.

✔️Layer 2 is the layer at which blockchain as a functioning technology can scale. An example of an L-2 protocol is the Bitcoin Lightning Network, designed to process bitcoin transactions quickly.

✔️Layer 3 is responsible for the implementation of the blockchain protocol and the "superstructure" over it. Many dApps are L-3 protocols. Examples include Uniswap, PancakeSwap, etc.

04/11/2022

The depths of the blockchain ocean harbor hundreds of unique blockchain protocols, each with different functions depending on the company that runs them. The main types of blockchain protocols are:

✔️Hyperledger, an open-source blockchain platform developed by the Linux Foundation.
✔️Quorum is an open-source project that is an enterprise blockchain protocol.
✔️Corda is a blockchain protocol originally designed to provide privacy and security for companies operating in the financial sector.
✔️Ethereum is an open public blockchain in which anyone can write smart contracts and dApps using the built-in Solidity programming language.
✔️Multichain is an open-source project that was originally created for private blockchain networks and commercial organizations.

Ready to dive deeper?

02/11/2022

Shocking facts in of NFT

Address

Lietuva

Website

Alerts

Be the first to know and let us send you an email when Fincor Blockchain posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Shortcuts

Share

Category