Pura Cryptocurrency On the Rising Success of Big Data-Blockchain Projects

The simplest definition of blockchain is a shared immutable ledger for recording the history of transactions.

Detroit, MI - February 14, 2018 /MarketersMedia/ —

With the rise of publicity and interest in cryptocurrency harvesting and investing in recent years, many speculate on the future of spending, receiving, and transferring money online. Pura Cryptocurrency believes the future of online money management and banking is actually a fusion of big data and blockchain transaction recording. The distributed ledger technology (DLT), as blockchain is also known, seized the spotlight after the emergence of Bitcoin in 2009, but the underlying principles were described back in 1991 by cryptographers Stuart Haber and W. Scott Stornetta. Although DLT was initially explored within the context of cryptocurrencies, it quickly became obvious that the technology has implications far beyond these confines. With two such remarkable phenomena co-existing in the past decade, it was inevitable that researchers, corporations, and market participants would turn their attention to investigating the combined potential of Big Data and blockchain, and the initial signs point to a truly extraordinary mixture, according to the experts of the Pura Cryptocurrency project.

The simplest definition of blockchain is perhaps the one provided by IBM, which explains it as “a shared immutable ledger for recording the history of transactions.” On the other hand, we have artificial intelligence (AI) – the key technology employed in Big Data analytics. As complexity scientist and data strategist Francesco Corea puts it, “Blockchain and AI are the two extreme sides of the technology spectrum: one fostering centralized intelligence on close data platforms, the other promoting decentralized applications in an open-data environment.” Nevertheless, Corea is among those who believe that the two technologies can work together, each amplifying the strengths of the other. AI can help blockchain overcome some of its limitations by providing support in areas such as energy consumption management, scalability, layer and application security, and efficiency, among others. Conversely, DLT can augment AI by increasing effectiveness and trustworthiness, lowering market entry barriers, and reducing catastrophic risks scenarios.

While blockchain is virtually immune to hacking and guarantees the security of the information stored in the ledger, it is not designed to handle the analytics aspect, which is the reason Big Data carries so much weight, Pura Cryptocurrency panel notes. According to Trent McConaghy, chief technology officer of BigChainDB, the intersection of DLT and AI will provide companies with far more than data integrity, as critical as that is. In a world where the two technologies complement each other, there will be more information gathered, which will in turn improve modeling capabilities. Furthermore, “when data from silos is merged, you don’t just get a better dataset, you get a qualitatively new dataset. Which leads to a qualitatively new model, from which you can glean new insights and have new business applications,” McConaghy wrote. Another executive who believes in the tremendous potential of this alliance is Nikunj Thakkar, CEO of DataOne Innovation Labs. According to him, the marriage of blockchain and Big Data will enhance the accuracy and security of the data shared, refine decision-making in machine learning, provide real-time detection of illegal activities, and ensure complete automation, among others. “There is no doubt that the future of business, transport and government is poised to undergo a radical transformation when the coming together of Big Data and blockchain becomes reality in the next decade,” Thakkar concludes.

Pura Cryptocurrency was created with a vision to democratize transactions, making them affordable for everyone by eliminating intermediaries such as banks and payment processing companies. This international cryptocurrency allows people to send money in an instant, directly and anonymously. Run by a team of 20+ experts, Pura is also the world’s first socially and environmentally conscious digital currency project: it is implementing a protocol that will divert 10% of its mining rewards to initiatives benefiting the planet and the public.

Pura Cryptocurrency - The World’s First Socially & Environmentally Conscious Cryptocurrency: http://puracryptocurrencynews.com

Pura Cryptocurrency - Explores the Momentous Potential of Blockchain-Big Data Fusion: https://finance.yahoo.com/news/pura-cryptocurrency-explores-momentous-potential-173500922.html

Pura Cryptocurrency Examines the Future Prospects of Digital Money: https://finance.yahoo.com/news/pura-cryptocurrency-examines-future-prospects-015500153.html

Contact Info:
Name: PCN
Email: contact@puracryptocurrencynews.com
Organization: PuraCryptocurrencyNews.com

Source URL: https://marketersmedia.com/pura-cryptocurrency-on-the-rising-success-of-big-data-blockchain-projects/300968

For more information, please visit http://puracryptocurrencynews.com

Source: MarketersMedia

Release ID: 300968

More News From Daily Xtreme

Israel Folau and Ryan Crotty out of Bledisloe Cup rematch

Aug 19, 2018

WELLINGTON, New Zealand — The All Blacks and Wallabies have both suffered injury setbacks after their bruising Bledisloe Cup test at Sydney, losing key players for the rematch at Auckland on Saturday. New Zealand has lost center Ryan Crotty to concussion and winger Rieko Ioane is in doubt for next week's return match with a hamstring injury. Australia coach Michael Cheika then confirmed on Sunday that star fullback Israel Folau will not play in Auckland after being forced from the field with an ankle injury during the second half of the Wallabies' 38-13 defeat to the All Blacks in Sydney....

Late Naholo double helps All Blacks beat Australia 38-13

Aug 19, 2018

SYDNEY — A length of the field try by center Jack Goodhue and a late double from Waisake Naholo spurred New Zealand to a 38-13 win against Australia in the first Bledisloe Cup test, and opening match of the Rugby Championship, on Saturday. The visiting team was tied down through most of the first half by Australia's swarming defense, which placed pressure on the passing player and produced handling errors which nullified the All Blacks' attacking game. But New Zealand scored its first try just before halftime, trailing 6-5 at the break, and added five more touchdowns in the second...

Barrett at 10 for All Blacks, Hodge in for Australia

Aug 19, 2018

SYDNEY — Beauden Barrett has held off the challenge of rising star Richie Mo'unga and will wear the No. 10 jersey for the All Blacks in Saturday's first Bledisloe Cup and Rugby Championship test against Australia. Barrett, who was World Rugby Player of the Year in each of the last two seasons, has been out of form and his grip on the flyhalf role had come under threat from Mo'unga, who steered the Crusaders to the Super Rugby title this month for the second straight year. The All Blacks selectors had been under pressure to select the form player but...

Muguruza, Ferrer to play for Spain at Hopman Cup

Aug 19, 2018

PERTH, Australia — Two-time grand slam champion Garbine Muguruza will team with veteran David Ferrer in a strong Spanish pairing at the Hopman Cup mixed teams tennis tournament in Perth from Dec. 29. Ninth-ranked Muguruza and former World No. 3 Ferrer are among players making their debuts at the tournament, a major lead-up event for the first grand slam of the season, the Australian Open. Rising Greece star Stefanos Tsitsipas, ranked 15, will also make his Hopman Cup debut alongside 31-ranked Maria Sakkari. Playing at the Canadian Open last week Tsitsipas, 21, became the youngest player in the history of...

No surprises in New Zealand squad for Rugby Championship

Aug 19, 2018

WELLINGTON, New Zealand — All Blacks coach Steve Hansen has included two uncapped players but made no selection surprises in his squad for this season's Rugby Championship. Crusaders prop Tim Perry, who played two non-test matches on New Zealand's tour to the northern hemisphere last year, and Chiefs scrumhalf Te Toiroa Tahuriorangi are the only uncapped members of the squad announced Monday. Captain Kieran Read, hooker Dane Coles and lock Brodie Retallick all return after missing the All Blacks' June test series against France because of injuries. Coles hasn't played since November, missing all of the Super Rugby season because...

NHL Livescore