What is Blockchain 4.0?
The emergence of Blockchain 4.0 technology has ability to make work of businesses and people's lives more convenient.
With outstanding features and improved performance through each version, the value of Blockchain technology has reached beyond cryptocurrency.
And the 4.0 generation will be an extremely important milestone in the journey of Blockchain technology development.
What is Blockchain?
4.0 is the latest version of Blockchain technology, developed with a focus on the enterprise environment, serving to create - run transaction applications in a safer and more efficient way.
Besides, Blockchain 4.0 also aims to affirm the high-class position of this technology in people's lives.
03 generations of predecessors of Blockchain are considered to have great potential in the enterprise environment such as high security, automatic storage system, immutable (unchangeable) information... and very suitable when applied to pay bills or salaries.
However, these versions still have some inadequacies and limitations such as the processing speed is not really fast, there is a serious shortage of high-quality human resources...
Specifically:
- First version of Blockchain (1.0) has a rather slow processing speed, difficult to use and only serves single purposes.
- Blockchain 2.0 has been improved better, adding smart contracts and has the ability to integrate with external applications.
- Blockchain 3.0 is focused on supporting external applications, but has difficulty delivering the Web 1.0 experience.
It is for this reason that Blockchain 4.0 was born, continuing the advantages from previous versions and perfecting the features as utilities, giving users a smooth experience like with Web 2.0.
What's outstanding about Blockchain 4.0?
Blockchain 4.0 allows an inexperienced enterprise to develop and operate dApp - decentralized application based on this platform.
In addition, enterprises also have the right to actively limit the data that a certain account will see, contributing to absolute information security.
However, this still ensures the immutability of information and the ability to automatically store it when performing transactions in the application.
Enterprises are also completely able to create smart contracts, serving all self-executing purposes.
With Blockchain 4.0, almost every enterprise day-to-day work is done in a single application, but the speed and experience is as fast as when surfing the web, highly secure distributed encryption algorithms.
Fourth version of Blockchain technology is considered to be capable of helping enterprises limit the risk of data leakage through information decentralization.
Blockchain 4.0 is also introduced with a prominent feature, which is an integrated development framework IDE, helping enterprises build dApps that are cross-compatible between Blockchain platforms.
Practical application of Blockchain 4.0
Blockchain 4.0 has provided countless highly effective solutions for many areas of life:
- Industry and service sectors: Currently, technology “giants” are applying Blockchain 4.0 extremely well in enhancing their cloud data security system.
- Agriculture sector: Nestle has applied Blockchain 4.0 technology to the management of their coffee production and storage lines.
- Retail sector: It have been many companies and supermarkets applying Blockchain 4.0 to supply chain management, replacing their traditional sales solutions.
- Medical sector: All patient information will be stored on Blockchain technology, when needed, it can be quickly retrieved with just a few simple steps, solving the problem of time and avoiding confusion.
