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The cryptography applied is here to stay, both in the form of the best surviving cryptocurrencies, and as products that are based on applied cryptography. But blockchain and cryptocurrency companies can be more stable and secure by implementing log management tools and processes.
The blockchain and cryptocurrency sector is at a crossroads at the end of 2018. On the one hand, a prolonged collapse of trade has devastated most of the activities, which now hold much lower market prices. Some companies that have promised a lot, are now struggling to bring products to the end-user during this period.
When Bitcoin appeared for the first time at the beginning of 2009, it created many precedents. Among these, one was relying on a distributed and free network of developers who took the project to heart, contributing their knowledge and working on the production of a viable version of Bitcoin. When the main idea became known, a Cambrian explosion of similar projects over the course of a decade led to many failed, and some semi-successful experiments, in building coins, payment networks, platforms and finally , applications that used blockchain and distributed computing.
But most projects remain amateur, and some still rely on open source technology and even voluntary work. This has led to absurd situations, where individual developers infiltrate a project and gain the trust of the founders, then continue to build a portfolio that steals funds outright. One of the Bitcoin Hard forks, Bitcoin Gold, suffered that fate, with not one, but two defective portfolios presented to users. More recently, one of the most used portfolios, Copay, has admitted to having a faulty code, courtesy of another extremely useful developer.
In the last 12 months a new series of blockchain projects has appeared, with many of the characteristics of a professional startup. Projects like Lisk, TRON and EOS differ a lot from the early versions of blockchain. While Bitcoin is proud to have a free network of nodes based on a globally distributed infrastructure, the new generation of projects uses other mechanisms. Cryptographic work is not performed by anonymous farms, but by a number of entities that have earned the right to produce blocks, receive rewards and influence the development of the network.
This approach to the use of known entities providing resources and producing blocks is also known as distributed game testing. This means that the block makers also have a "stake" in the game, usually possessing a large number of blocked coins. In addition to these projects there is a vision and a roadmap to control the network and turn it into a commercially viable product, used by companies, third-party app developers or independent developers. These blockchain projects are also moving away from the cryptocurrency as the main application, and into a general area of platform construction for a new distributed computing mode.
A blockchain with a network of block makers presents many potential pitfalls and errors. Since projects focusing on amateur cryptographic coins have previously turned into a new startup crop, business rules start to apply to them. This means that an organization that wants to offer a glitch-free blockchain should start reviewing the processes and tools for managing registries to improve the efficiency, security and stability of the encoding.
Using a consolidated tool such as LogDNA (www.logdna.com). it means that blockchain projects can create a robust and error-free network and minimize the risk of downtime due to the need to return to search and fix coding problems. Tracking software is used by IBM, Instacart, Life360, Lime and Lifesize. IBM liked it so much that they recently announced that it would offer the tool to business customers as part of their cloud services.
Incidentally, any problem of error, freezing or consent can lead to serious problems and immediate losses for a coin or token. A blockchain is always active and always lives. Freezing does not mean transactions, which means a totally worthless system and many worried users. Consensus problems can mean a chain split, lost transactions and irreversible losses.
Most cryptographic / decentralized projects rely on GitHub to expose the code, with multiple developers adding and improving various elements. Any organization that wants to use blockchain or build a network has a slightly different approach, from having a handful of developers all over the world, to having a dedicated and paid team.
Running tests ahead of time and ensuring error-free release is the one thing that every project should have as its maximum responsibility. A good registration tool can mitigate risk and be used to simplify the process, regardless of team structure and size. And while current cryptographic applications are relatively small, they have a responsibility to function without fail.
It is hoped that teams and projects that want to survive for the next wave of blockchain and deployment of distributed networks will soon learn the power of recording tools, begin to practice strict registries and approach the ideal of adoption. mass for cryptographic resources.
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