Steemit Crypto Academy Contest / S1W1 - Favorite Blockchain Network by @salemumar5.

Assalam o alaikum everyone,

Hope you all are healthy and good i your respective lifes, the steemit team has planned new trend where multiple communities are gather and users can participate they call them steemit Engagement challenge, here as from title you know i am posting cor steemit cryptoacademy for favourite blockchain technology, so lets get start exaggerating.

My favourite blockchain technology and reason to be favourite.

There are many technology that has been listed in blockhcain where the users are interested in it and using to assets their work so among them i selected open chain which is developed by Coinprism which us founded by ex Microsoft engineer Flavien Charlon they also working in bitcoin blockchain held having a unique payment method known as colored coins.

Coinprism also ensure the Open assets having bitcoin transaction with data dictionary having meta data in also the open source transaction are held by NASDAQ where buying and selling of securities easily accessible. The open chain having heavy and healthy connections with coinprism for assets transaction mania.

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The open chain is very advance by the distributed ledger mechanism where the digital assets are kept with security although the transaction are been scalable with coinprism with colored technology payment method the transaction are also digitally held.

So there are very scalability held this is the new platform of blockchain running with great efforts whee the transaction fees are also zero you can take advantage from this by using coinprism, held the open chain is mainly used by organizations in the manner of service as platform whee the creation of digital assets are signed by the instructor and admin where the transaction are also yet validate on the basis of open chain rules and protocols.

The open chain has been demanded as very efficient network among all held while talking about ETH blockchain network which is number one though this open chain has influence this network by giving cost free transactions through which they made comparability woth eth and other networks.

All user just need these transactions and bandwidth cost fewer as much as possible but also validity of transaction matter which is highly demanded by open chain though user can also look forward with open chain in parralel for blockchain networking.

Open chain engages with digital assets assessment , Partitioned Consensus mechanism with proof-of-stake where the single authority of transaction are validatea and they enriched their managerial tactics with Linux foundation which is mainly admire the democratization of codes while fascinating the governance support for supporting open chain and many other networks

Does the network has some earliest shortcomings and how has the network's team taken care of the problem?

The open chain network is collaborating with many up coming events although the open chain having a comprehensive gathering with banking for payments method, legal industry to promote the digital assets, Crypto currency exchange and wallets, property real estate and supply chain.

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Among all the most unique collaboration i find is with SCM where the engage in all logistics management where the blockchain network in term of open chain will help to improve the scalability toward logistics area ultimately the organisation hierarchy would be feel better by attaining the enterprise areas in decentralised manner though the open chain network glorify their means much.

Held the network in open chain is probably helping to reached out following areas with technological wise are;

Security and digital signature:

The security area in bounded with encryption and decryption protocol using the digital signals, however they are also extending their approach by using the binary codes to compress the format and by assigning the keys each transaction will be firm and reliable. Each transaction carries the public and private keys embedded in their network which will flow in dynamic or static paths for security.

Mining and transaction fees:

While transaction fees is very cheap held the charging no mining fees, thus the protocol is very superior towards users eye.

Reliability and Consensus mechanism:

The blockchain must be scalable reliable and confidential thus they maintain a consensus mechanism for to engage in smart contract and they form dictionary and meta dictionary to record data flows in blockhcain and every layer is interconnected to update a historical data record and they are easily lodge in mutlipe number of transactions.

What changes do you think would make the network better?

The most important thing i would like to share with you guys which can be counted as a drawback is you can't manage to find the open chain network clearly you need use multiple domains and url with link using oodles network to engage with open chain.

Held the open chain having an extension this is not bad while they are reducing their cost by buying small software which is good but many users ain't like that reliability and confidentiality is absolute but the usability is less because of ain't finding the open chain with single source.

Here below image you can see you won't feel exhausted becuase i founded the link and you can use just like i found this from another page and initiate my wallet. Link towards open chain wallet.

Howbiet using this open chain wallet i feel little bit historical view though little bit advance version should embed over here like meta mask, binance and tron wallets, they maintain a goodwill among users and captures the audience by alarming new updates since open is also striving among them having scalable and secure transaction with coinprism though by shouldering with good management they would definitely attain a image in blockhcain network.

Write about a Project that is built on your favourite Blockchain.

I found the OODLES network having good collaboration with Open chain , oodles is actually a service provider like clouds to engage big blockchain networks with technology. Also the main domain of oodles is build relationships with organisations and industry yet we had above mentioned.

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OODLES is improving its ranging capabilities by ensuring the projects likebanking channels, Partitioned Consensus mechanism, legal industry etc. They also embedded in their article that they are now offering the applications for enterprise level that they can benefit from open chain by getting solutions with OODLES.

Solutions are based on blockchain competency yet they also encourages open chains API's to ensure smart contracts, payments and transaction with Crypto currencies using open chain wallet.

Among all projects mentioned SCM is my favourite where the open chain engages the organisation and endure them with blockchain functionality becuase SCM is most important aspects of business where end to end logistics are maintained with suppliers and consumers though by enabling the confidentiality in transaction and to enhances the products visibility by source with store traceability blockchain networks would be finest compliment to ensure that.

Since the project is still working because the SCM department in organizations having complete know how about the Open chain blockchain network.

Their innovations are yet not over but in coming years they would definitely give a competition with well known blockchain networks. For this i gave them a suggestion in their footprint which you can see below;

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Conclusion:

That my favourite blockchain technology which will be gave a boom influence market, because their working is influencing by collaborating with organisations and industry. Hope you understand and agree with my content.

Cc;

salemumar5