It seems there is no stopping for Blockchain technology. As per the latest news, a Purdue University had designed a new and innovative X-Blockchain technology that would help users in the process of sharing shopping, airlines and other numerous activities.
With the news of Facebook, being a part and interest in the banking business has created a buzz in the market which has brought the Blockchain technology into limelight. Facebook is also planning to launch its Blockchain-based financial network known as Libra which is considered as the digital currency of Facebook.
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The research team of Purdue University has designed an X-Blockchain which is considered as a crypto-powered ledger technology enabling users to made transactions in a secretive manner without any third-party involvement. The shredded data means which is shared by users will be wiped out from the system instead of the actual data itself. On this platform, cross-blockchain transactions will be allowed but the important data of a user will be kept hidden. This technology could be taken as an application in a phone and can also be used in different ways.
An associate professor at Purdue’s Krannert School of Management, Mohammad Rahman who is leading the team said that they are trying to create a platform where users can exchange good like currencies or points without the urge of compromising or sharing confidential data. Further, he said that this technology also minuses your transaction costs because there is no involvement of third-party. Two users can deal one-on-one without any involvement of any third-party.
He added that we have designed a platform where two parties are allowed to make transactions without providing or revealing any important transactional data. With the help of computer application technology that uses algorithms to code and process data without any need of sharing any private points.
With this technology, two users would be able to exchange points through a coffee chain for airline points which is acceptable for both the parties and would not be disclosed to any third-party that includes this platform said by Siva Chaduvula, a postdoctoral student and the key driver of this project. To deal with Blockchain issues and technical errors, you can directly speak to the team of skilled professionals who is there to guide you. You have to dial Blockchain helpdesk number which is functional and users can contact the team anytime as per their requirement. Whatever your error is, feel free to reach the experts to get verified solutions and ideas.