NORTONCHAIN: A NEXT GENERATION DISTRIBUTED LEDGER

Since the creation of the bitcoins blockchain which was set to decentralize the financial market, many other distributed ledgers such as the Ethereum blockchain and others have been made.


The blockchain was founded out of the need for the decentralization of the financial market and it has probably been more success than anyone hoped it would be today. Blockchain has gotten so much popularity and use cases to the extent that major cooperation’s and platforms such as IBM, MICROSOFT and others are now looking for means to adopt the tech and even build of their own.
However, with recent reports and findings, the existing blockchains have begun to suffer from certain challenges.
CHALLENGES FACING BLOCKCHAINS
Listed below are some of the challenges which have begun to inflict the industry:
  • Privacy: the need for financial privacy is very high which was one of the reasons the blockchain was invented in the first place, because the traditional banking system could not make provision for this lack of privacy. However, the blockchain was meant to fix this challenge but they have all been lagging behind on this same privacy inadequacy. Details such as sender, receiver, amount sent and more a made available on the chain.
  • Slow transaction clearing: since confirmation on the blockchain is being done be a specific set of persons on the blockchain known as miners, confirmation of clearing therefore has begun to take more time due to the volume of transaction which is carried out every second. The process in which these miners use in confirming this transaction is archaic and thus the result is slow transaction clearing.
  • No micro-transaction: it is known that micros transaction cannot be carried out on the blockchain and it isn’t because the transaction wouldn’t go through but because the fee charged for micro transactions are usually greater than the amount being sent, therefore it becomes illogical for users to make such transactions. The reason for high fees is simply because of the payment which is being rendered to miners who are responsible for confirming transactions. It is however expedient that a solution is made.
THE NORTONCHAIN SOLUTION
NORTONCHAIN is a distributed ledger which have seen the problems which has plagued the existing blockchain and are here to provide a next generation solution to the challenges listed above, thereby resulting to a more efficient distributed ledger.
  • NORTONCHAIN will be eliminating the use of miners in its distributed ledger and employing the use of tangle technology, which will give individual users the ability for them to be able to carry out their own transaction confirmation, backed up by various nods to ensure that there is no conflict in the tangle. This will thereby enable users to carry out micro transaction of any size without having to worry about expensive fees and also eliminate the delays in the confirmation of transactions because users in a transaction get to confirm their own transaction.
  • NORTONCHAIN will be making use of Tor technology to conceal personal data, such as IP-addresses and geo-locations in order to make room for a complete anonymous and private transaction, because although the blockchain might be transparent, not every user enjoys their transaction history being seen/monitored by all.
  • The platform will possess its own explorer where all transaction will be recorded, and users get to choose either to make their ledger private or public, where user transactions are either made private or public. NORTONCHAIN will also be utilizing a wraith protocol which will give users the ability to switch at will, when to go private or stay public.
Ultimately, NORTONCHAIN will be powered by Artificial Intelligence and bots which will enable users to communicate with the technology at will, giving them a world class experience. The AI will be next to known ever made, with the capability to behave like a human.
USE CASES OF NORTONCHAIN
  • Crypto trading platform
  • Gaming industry
  • Music industry and many more
RECOMMENDATIONS
The team behind this project is always active and will always be getting in touch with their users. This would enable users to be able to make suggestions directly to the developers or contact them for support issues. Personally, I think this NORTONCHAIN is a world class project and will benefit every industry and individuals which will be utilizing this technology.
WEBSITE
ANN THREAD
Author: Ubaka01
Bitcointalk URL: https://bitcointalk.org/index.php?action=profile;u=2318597

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