Imagine that you want to retain and track changes to a file, for example, a transaction log. Also, imagine that you want to verify an uninterrupted history of all changes made to the file. How do you do this? A well-understood solution for verifying a file uses cryptographic hash functions. The ideal cryptographic hash function …
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In essence, Web 3 is a technology stack and a collection of basic programming elements or important building blocks. It also describes a new era of the Internet, including how it will affect business and society. Broadly speaking, Web 3 is a collection of technologies that include blockchain, artificial intelligence, Internet of Things (IoT) and …
A Smart Contract (SC) is a program stored on a Blockchain that executes when predetermined conditions are met. It is a collection of code (its functions) and data (its state) that resides at a specific address on the Blockchain. SCs operate by following simple “if/when…then…” statements that are written into the Blockchain code. A network …
Federated Learning (FL) is a Machine Learning (ML) paradigm introduced by Google in 2016, in which many clients (e.g., mobile devices or multiple organizations) collaboratively train a model under the orchestration of a central server (e.g., a service provider), while maintaining decentralized training data at all times. It embodies the principles of focused collection, data …
In August 2008, Satoshi Nakamoto introduced Bitcoin, the world’s first cryptocurrency. A few months later, in January 2009, Bitcoin went live and has been growing in popularity ever since. However, much of the fame it gained was thanks to Blockchain, a technology that allows Bitcoin to transact securely, privately and in a malware-proof manner without …
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A web service is a software system designed to support computer-to-computer interaction over the Internet. Web services are not new and typically take the form of an application programming interface (API). Web 3 refers to the evolution of the Internet as we know it. The web is a system of interconnected hypertext documents accessed over …
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