The Ultimate Guide to Decentralized Finance (DeFi)
OpenXcell » Blockchain
by Samragyi Chamoli
5M ago
Introduction Bitcoin met with much skepticism when it was introduced in 2009. Many believed that these digital tokens had no real purpose and that the hype surrounding them was purposeless. However, digital finance and digital currencies defied all these notions and came out to be a big technological revolution that is rechristening the entire banking scenario, one innovation at a time. Cryptocurrency, smart contracts, Cefi, Defi, and Dapps are a few examples of innovations in the banking sector. Amongst them, DeFi and Defi applications have been seen gaining popularity and momentum recently ..read more
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Blockchain in Education: Use Cases, Challenges, and Examples
OpenXcell » Blockchain
by Niha Parmanandani
5M ago
The education sector is undergoing rapid changes due to the internet and digital learning. One of the newest introductions to the field is blockchain technology. Cryptocurrencies like Ethereum and Bitcoin have often been associated with blockchain technology. However, this is just the tip of the iceberg. A blockchain is essentially a digital ledger that duplicates and distributes transactions among all of the computer systems that are part of the network. In essence, each block in the blockchain contains a list of transactions, and when a new transaction happens, it is recorded on each partici ..read more
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Expected Blockchain Statistics and Trends for 2024
OpenXcell » Blockchain
by Samragyi Chamoli
5M ago
When Blockchain first emerged as the technology that backed cryptocurrencies, it was met with cynicism and skepticism. Tech experts were undermining its functionalities and criticizing its fervor. A decade and more later, the hype hasn’t died down and blockchain is all the rage. Blockchain market was worth $5.85 billion in 2021 and a whopping $1235 billion by 2030. That is a CAGR of almost 82%.  These numbers are evidence that the market holds a lot of potential and is all set to disturb tech markets worldwide. There are certain blockchain trends that are bound to popularize blockchain te ..read more
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Enterprise Blockchain: A Closer Look at Its Features, Platforms, and Use Cases
OpenXcell » Blockchain
by Deepali Medchal
6M ago
Introduction:- Is Blockchain just a buzzword or an opportunity for enterprises? The ongoing debate about Enterprise Blockchain is heralding whether blockchain use cases will bring good fortune to the enterprise or blow away the windfall. In contrast, recent statistics indicate an exponential surge in enterprise blockchain demand, predicted to reach USD 246 billion by 2030 with a CAGR of 54.5% from 2022-2030. Moreover, it is no longer a pilot project but a cutting-edge technology that will pragmatically bring a wealth of possibilities and benefits to the enterprises. Earlier, from being just a ..read more
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Concept to Cost: A Complete Guide to Blockchain Implementation
OpenXcell » Blockchain
by Deepali Medchal
8M ago
What is Blockchain technology? Blockchain Technology is a modern database infrastructure that revolutionizes information sharing amongst the network of participants. Its groundwork is rooted in the form of an immutable ledger, where data is recorded meticulously in blocks linked with each other, forming an unalterable chain. This sequential arrangement assures that once the data is stored, it becomes invulnerable to carry out any modification or deletion from the network of chains. Due to this, Blockchain technology emerged as a potent immutable ledger for tracking orders, accounts, payments ..read more
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What is Stellar blockchain and how it works: A beginner’s guide
OpenXcell » Blockchain
by Niha Parmanandani
8M ago
Blockchain has evolved from being one of the most misunderstood and ambiguous terms in the technology world to a common term. Its use has become ubiquitous across industries, from banking to healthcare to supply chain management. This widespread adoption demonstrates blockchain’s potential to improve traditional business models and the potential to create new ones. Bitcoin blockchain’s huge growth has inspired many other projects to follow suit. Stellar blockchain has proven itself as a worthy successor to Bitcoin in the crypto market, attracting the attention of market players. If you are sea ..read more
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Transform Assets with Blockchain: Explore Benefits, Challenges & Use Cases
OpenXcell » Blockchain
by Samragyi Chamoli
10M ago
Introduction Ever since its inception in 2009, Blockchain technology has revolutionized the very way we conduct business online. Formerly created by someone with the pseudonym, Satoshi Nakamoto, the first blockchain technology that was introduced to the masses was bitcoin. Genesis block was the first bitcoin to be successfully mined and rest is history! Read on to know more about the technological wonder – blockchain. What is Blockchain? A blockchain is a decentralized and distributed ledger technology that records transactions in the form of blocks. These blocks are stored on a multinodal net ..read more
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Cold Wallet vs Hot Wallet in Crypto: What are the differences?
OpenXcell » Blockchain
by Niha Parmanandani
11M ago
After purchasing cryptocurrency, it is vital to decide how and where to store your assets. As cryptocurrency runs on blockchain, it requires a digital storage system. This system is called Wallet. There are two types of crypto wallets available: Hot Wallet and Cold Wallet, or you can choose a combination of the two. Which option is right for you is a personal choice and depends on various factors.  In this blog, we will understand what hot and cold wallets are, their types, the differences between them, and how to choose one.  What is a Hot Wallet?  Hot wallets allow users to st ..read more
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Banks adopting blockchain technology: Why, and which banks are leading the way?
OpenXcell » Blockchain
by Deepali Medchal
1y ago
In today’s digitalized world, we are aware that blockchain has attracted many sectors, but finance is arguably the most prominent one. The digitised inception in the form of Bitcoin currency was promoted in 2008 during the Global Economic Recession 2007-09. In this period, the global economy was devastated badly. The conventional financial system has crashed, forcing the government to issue huge stimulus packages. Blockchain focused on addressing the blackouts that occurred during the global financial crisis. In this blog, we’ll discuss the front face of blockchain in the banking sector. Block ..read more
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The Blockchain and Smart Contracts: An Overview
OpenXcell » Blockchain
by Niha Parmanandani
1y ago
Most elements of our personal and professional lives are governed by contracts, which are crucial for modern society to function. Smart contracts are a key component of blockchain technology since they make transactions more organised and safe. Furthermore, it makes other elements, such as applications running on these platforms, even more accessible. Let’s first understand what a smart contract actually is. What is Smart Contract?  A smart contract, also known as a “crypto contract,” is a computer programme that, under certain conditions, directly and automatically regulates the transfer ..read more
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