Each system of payments or transaction needs security. As, we have so many issues like accounts hacking, snatching, robberies etc. Unfortunately, no one has the ability to control it. Everyone needs the transparent and proper way of transactions. And, security expert’s recent study shows that voting machines are also vulnerable to hacking.
Consequently, don’t worry about the weaknesses. A company trying to replace recent proprietary machines with new secure and open-source voting machine. Whereas, the technology behind the voting machine will be blockchain.
The blockchain is a distributed ledger. Instead of the company have the central database, everyone has a charge to set up a new code on the network and have the copy of it. For example. a bank with the database of withdrawals and deposits. And, as a customer, you have to believe that bank has tracked your cash correctly. In addition, now imagine that a number of customers do the same job with your funds to maintain honesty of ledger. This is what bitcoin currency works with complete security of funds.
Now, this technology has the ability to maintain a voting system. Advocate-tested blockchain based election by Liberal Alliance in Denmark and in European pirate party. Now, blockchain technology is going to introduce a secure and an actual voting machine. Who keep the record of the votes by using blockchain technology.
How it works
Now, the question is how this technology will do. Voters will register themselves as they do before. On the day of elections, people have to come and fill out a ballot with three QR codes at its bottom. Codes are;
- a unique cryptographic number which is basically a blockchain address.
- ballet ID
- last one for the election ID
The ‘vote unit’ will be sent to the candidates on the scanning of the votes. candidates will receive a unique address, is also called a wallet. which is how the machine knowing where to send votes.
Where you can see the candidate’s address. Accordingly, you can have the complete check that how many votes each candidate has, using the blockchain explorer that pull up the information about each ledger.
A team of blockchain technologies shows a machine look like fax machine connected to screen. While the machine disconnects from the internet to keep nasty factors from operating the votes before it connects to the internet they coming in and burn the ballots to the DVD.
Here, the point arises is, how to configure the blockchain. There are more possibilities to use the same blockchain bitcoin. Whereas, blockchain technologies crop. Introduce new VoteUnit, who works in the same way. In addition, with one change that is no transaction fees for each transfer.
Security o the machines
Senior computer scientist Jeremy Epstein explains,” Blockchainoter will never be able to know”. Young admitted it but his team uses several safeguards.
In addition, young says, “The open source code combined with the paper, DVD, and blockchain audit trails may not completely eliminate fraud in the voting process, but it will be a step in the right direction. Especially compared to the 10-15-year-old, buggy electronic voting machines we use today”.
Steve Borelli software developer pointed that current voting machines manufacture by banking and security company Diebold has a large number of issues. Without any external inspection. Borelli explains Anyone who knows Python can look at every nook and cranny of the code.”
The broken parts of the machine can easily replace because parts are easily available. Whereas, when machines have been discontinued some parts are difficult to replace. Developers add the term Paper trail to the machines. Hacking may go hidden if there will not be the paper trail for voters. In addition, because of paper trail voters can be up to date with elections process and its difficulties. If DVD’s data and blockchains will not match then the paper ballots can be used for verification.
Borelli explains, “if you enter a vote into an electronic touch screen first, and then it spits out a result, then it’s vulnerable to manipulation before it reaches the physical paper form.’’
Blockchain technologies crop. believes that this machine would provide secure and transparent way of voting. Borelli says we are going to embarrass Diebold.
Recently the well known Chinese e-commerce platform Alibaba has sued a Dubai-based ICO for copyright infringement. The dubai ico was functioning by the name of Alibabacoin Foundation and had initially raised $3.5 mln qaccording a Reuters report. The firm was involved in continuous misleading behavior related to Alibaba’s company name. Alibaba clarified that there was no relationship between them and the Alibabacoin Foundation. Furthermore Alibaba also made clear that it had no future intentions to enter the cryptocurrency business.
It was being reported that the Alibabacoin Foundation was aiming to create its own e-commerce platform by making use of cryptocurrency Alibabacoin which was also generated by the foundation. It introduced itself as a digitally optimized firm which was going to use blockchain technology for various departments such as finance, shopping, security and marketing etc. The firm succeed in generating a handsome amount until it was declared as an ico fraud and a lawsuit was filed against it by Alibaba whose trade name was unlawfully being used by it.
Clarification by Alibaba
Though it was made clear by Alibaba that they had no intention of entering the cryptocurrency business but it should be remembered that it is not the first time that Alibaba has been a part of such rumors regarding its involvement in the crypto industry. It had to eliminate rumours early this year regarding its venture into the cryptocurrency mining industry with the help of its newly developed P2P platform. Alongwith dispelling that rumour the company also announced that Alibaba Cloud had never issued a single fraction of any digital currency from its platform neither it had any intentions to do so in the future.
According to a report published last year CEO of Alibaba Jack Ma exclaimed that he had no interest in bitcoin but blockchain technology, which he described as a powerful tool of future technology.
Aftermaths of the Law Suit
After initial hearing the judge issued a short term restrain order against the Alibabacoin Foundation, the lawsuit also circles threefold damages for violations of US and New York law. Further development in the case will be reported after the show cause hearing which will take place on April 11, 2018.
However the Alibabacoin Foundation did not pass any comment in this regard. Also, despite the orders issued by the court the company has showed no intentions to roll back its initial coin offering or other related activities.
Are you inspired by those amazing tales where someone bought bitcoin and turned millionaire in no time? Are you planning to start your own Bitcoin venture but don’t know about the best place to buy Bitcoin? Here are few exchanges which offer Bitcoin both in bulk and minority.
Coinbase is one of the world’s biggest Bitcoin exchanges. Clients in the United States, Canada, the vast majority of Europe, and Singapore can purchase bitcoins with an associated bank account or SEPA exchange.
European clients can buy bitcoins with 3D secure credit/debit cards.
CoinMama is a bitcoin exchange that offers bitcoins with credit or debit cards. The fee is around 10% with the limit of about $5,000/day and $20,000 every month. After verification, bitcoins are transferred inside a couple of minutes. CoinMama is accessible only in some US states.
BitPanda is an Austrian Bitcoin exchange that offers bitcoins with credit and debit cards. Charges are low; around 3-4% but not shown separately.
Many individuals ask: is it conceivable to purchase bitcoins with PayPal? Since PayPal bans its dealers from accepting PayPal payments for bitcoins, it is impractical to purchase bitcoins with PayPal directly.
So, these three are the top three exchanges which sell bitcoins. Next time someone asks about the best place to buy bitcoins, you know what to tell them.