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What is blockchain Technology?

Blockchain technology became known in 2008, when a certain Satoshi Nakamoto launched his own currency called Bitcoin, which works on this basis.

Blockchain is a chain of blocks that stores all information about transactions performed between participants. This data is visible to everyone, but it is not possible to change or falsify it. Because chains are not stored on any particular service, it exists on all computers connected to the network. The main feature of blockchain technology is that transactions are carried out without the participation of intermediaries (banks). This implies a number of benefits that are very beneficial to traditional businesses.

How does it work?

Experts believe blockchain technology can help fight corruption and fraud.

Blockchain principles:

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  • decentralization;
  • security;
  • transparency;
  • Immutability.

What benefits can blockchain bring to business?

The above principles allow you to solve many problems in business.

  • Compromise when entering into a deal with unreliable parties. There are no risks in blockchain technology. Nobody can deceive you. The algorithms are built in such a way that each block is related to the previous one, and when a new one is added (which is confirmed by each participant), the registry is automatically updated. Thus, you do not have to worry that any of the parties will not fulfill their obligations when exchanging BTC to PKR.
  • The speed of the transaction. Money transfers using blockchain take no more than 2-3 minutes. Using the “usual” methods, the procedure can take up to several days.
  • Reduced commission costs. Blockchain technology significantly reduces costs due to the lack of intermediaries. If a company makes a lot of transactions, then even seemingly small commissions end up in a tidy sum.
  • Ensuring complete confidentiality. Hacking a blockchain requires access to the millions of computers that are used on the network. This is technically impossible to accomplish. Using blockchain technology, companies get one hundred percent security for free.
  • Thus, blockchain technology can save company money, automate most of the processes and reduce risks.
  • Between the client and the company.

What are the areas of use for blockchain technology?

There are many applications. Here is just a short list:

  • Cryptocurrencies;
  • Certification of documents;
  • Tracking of food and goods;
  • Voting and referendum systems;
  • Project management;
  • Financial services;
  • Supply chain management system;
  • CRM (customer relationship management);
  • Settlement of disputes;
  • Tokenization of assets, property rights, etc. In other words, the creation of tokens (tokens) in the blockchain to express a share in any project: for example, a share from a house or apartment, a share in a company, certain rights under a contract, or the ability to use part of the functions on a platform. Tokens are easy to resell, easy to transport and store, tracking their movement or, on the contrary, erasing all traces – all depending on the blockchain protocol.

The innovation of blockchain technology is that information about transactions is no longer stored in a centralized database, but is transferred to the computers of all network participants, which store data locally. The first application based on blockchain technology was the Bitcoin application for the so-called cryptocurrency (bitcoin).

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TikTok Star Addison Rae’s Account Reinstated After Being ‘Permanently Banned’

On Thursday, Addison Rae, one of TikTok’s biggest and highest-paid stars, was notified her account had been “permanently banned” from the social media site, but it has since been reinstated – a decision that has many wondering why the app would quiet one of its most popular traffic attractions.

Quick Facts

  • Rae, who has over 85 million TikTok followers, posted screenshots of a message from the video-sharing app on Twitter late Thursday night, saying her account had been “permanently banned due to multiple violations of our Community Guidelines,” but did not elaborate or speculate on how she violated the terms.
  • Rae’s account “was momentarily offline yesterday night then restored within an hour,” according to TikTok representatives.
  • Rae’s reps and TikTok declined to comment on why Rae’s account was suspended.

Crucial Quote

“Well, it’s time to find a job,” the 21-year-old said alongside the screenshots on Twitter.

Background Information

Rae’s true name is Addison Rae Easterling, and she was last seen on TikTok on Thursday. She joined the platform in 2019 and soon rose to become one of the app’s most popular characters. Rae defeated Charli D’Amelio, the most-followed person on TikTok, to the top of Forbes’ list of the highest-paid TikTok producers in 2020. Rae became famous after releasing brief dancing and lip-syncing videos on YouTube. Outside of the digital realm, the former LSU student has had a lot of success. She featured in Netflix’s “He’s All That” earlier this year. In September, she attended the Met Gala. She became good friends with Kourtney Kardashian and made an appearance on “Keeping Up With the Kardashians.” “Obsessed,” a song by Rae, was also published. Item, her cosmetics line, is sold at stores such as Sephora.

Big Number

5% of the total According to TechCrunch, that’s how many videos on TikTok were pulled down by the automatic function for breaching standards but were eventually reinstated.

Tangent

TikTok’s community standards are inconsistently implemented, owing to an algorithm that frequently leaves creators in the dust. Users are not allowed to transmit violent extremism, hate speech, illegal actions, violent and graphic content, suicide, self-harm, and dangerous acts, nudity or sexual activity, harassment, or bullying, according to the standards. Videos are also scrutinized for kids’ safety and authenticity, as well as for disseminating false information, artificially increasing interaction, or impersonating someone else. According to TechCrunch, Black artists have raised concerns about the automated takedown tool, claiming that their films are labeled as improper but comparable footage from white users are not.

Credit: Forbes

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Snapchat Is Down; The Latest In A Long Line Of Technology Outages

Snapchat users reported widespread disruptions Wednesday morning, the latest in a series of significant social media outages that began nine days ago with Facebook, Instagram, and WhatsApp going dark for six hours.

  • Beginning at about 7 a.m., tens of thousands of users reported that Snapchat was down and they were unable to send or receive messages, according to Downdetector, a website dedicated to tracking outages.
  • The outage lasted more than three hours, and the company’s official support account tweeted that the issue was resolved at 10:31 a.m.
  • There is no reported cause for the interruption of service, and a Snapchat spokesperson wouldn’t comment on the cause, but told Forbes that “the issue has been resolved.”
  • Snapchat tweeted Wednesday morning during the outage: “We’re aware that some Snapchatters are having issues using the app right now – hang tight, we’re looking into it!”

Last week, Snapchat competitor Facebook faced a huge outage, with Facebook and its Instagram, WhatsApp, and Messenger applications going black for six hours, costing Facebook an estimated $65 million in revenue. Snapchat usage increased by 23 percent during the Facebook outage, according to analytics firm Sensory Tower.

Credit: Forbes

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Twitch source code and creator payouts part of massive leak

Twitch appears to have been hacked, leaking source code for the company’s streaming service, an unreleased Steam competitor from Amazon Game Studios, and details of creator payouts. An anonymous poster on the 4chan messaging board has released a 125GB torrent, which they claim includes the entirety of Twitch and its commit history.

The poster claims the leak is designed to “foster more disruption and competition in the online video streaming space.” The Verge is able to confirm that the leak is legitimate, and includes code that is as recent as this week. Video Games Chronicle first reported details on the leak earlier today.

Twitch has confirmed it has suffered a data breach, and the company says it’s “working with urgency to understand the extent of this.”

The leak includes the following:

  • 3 years worth of details regarding creator payouts on Twitch.
  • The entirety of twitch.tv, “with commit history going back to its early beginnings.”
  • Source code for the mobile, desktop, and video game console Twitch clients.
  • Code related to proprietary SDKs and internal AWS services used by Twitch.
  • An unreleased Steam competitor from Amazon Game Studios.
  • Data on other Twitch properties like IGDB and CurseForge.
  • Twitch’s internal security tools.

The leak is labelled as “part one,” suggesting there could be more to come. Video Games Chronicle reports that Twitch is aware of the breach, but the company has not yet informed its userbase.

The leak doesn’t appear to include password or address information on Twitch users, but that doesn’t mean this information hasn’t been obtained as part of this breach. In fact, the leaker seems to have focused on sharing Twitch’s own company tools and information, rather than code that would include personal accounts.

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While Twitch has confirmed a data breach, it’s still unclear exactly how much data has been stolen. We’d recommend changing your Twitch password and enabling two-factor authentication on your account if you haven’t done so already.

Twitch has been struggling to contain ongoing hate and harassment recently. After weeks of hate raids, some Twitch streamers took a day off in August to protest against the company’s lack of action. Twitch has responded to the #DoBetterTwitch movement, and it’s a hashtag that the anonymous poster has used today to promote this leak.

Update, 7:35AM ET: The Verge can confirm leak is legitimate, and we have included more details on the data within the leak.

Update, 11:25AM ET: Twitch has now confirmed it has suffered a data breach.

Source: theverge

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