This article of Nobody will clearly highlight content related to Blockchain technology generation 4.0. Follow now!
Blockchain is probably a phrase that has become extremely familiar to everyone in in today's era.
Not stopping at versions 1.0 - 2.0 - 3.0, Blockchain generation 4.0 was born with many great features and outstanding performance.
It's considered a very important milestone in the journey of Blockchain development, helping to build the value of this technology beyond cryptocurrencies.
What is Blockchain 4.0 technology?
4.0 is the current latest version of Blockchain technology.
It provides an enterprise-oriented environment for building and launching trading applications, ensuring fast - safe - efficient.
Besides, the purpose of developing Blockchain 4.0 technology is also to make people's lives more comfortable.
Blockchain 4.0 technology will continue the outstanding advantages from the previous 3 generations and promote more, thereby, becoming the most complete version.
It can be said that this is considered the “key” for digital transformation and building an increasingly stronger information technology foundation in the future.
Types of Blockchain 4.0
Blockchain technology version 4.0 is diverse and quite complex.
But basically, it's divided into 03 types as follows:
Public
This is a form of Blockchain where anyone has right to write and view data.
Because there're no restrictions on access rights, users only need to have the Internet to connect to this type of Blockchain.
This platform is also considered to be quite secure, because the transaction verification process on Blockchain 4.0 technology requires thousands of participating nodes.
2 typical examples for this type of Blockchain are Bitcoin and Ethereum.
Private
This form of Blockchain is limited in terms of access by administrators.
As such, only authorized users can participate in this Blockchain 4.0 technology system.
However, they're only allowed to read data without write permissions.
Consortium
This can be seen as another version of Private form, but adds certain features.
Consortium is a Blockchain 4.0 system operating in a semi-decentralized form, combining both Public and Private forms.
Not any user can participate in this Consortium 4.0 Blockchain system.
It's created and controlled by participating organizations with equal power.
How special is Blockchain 4.0 technology?
The previous 3 versions of Blockchain have brought many benefits and are considered to have great potential when applied in the enterprise environment, especially in:
- Very high security.
- Own an automatic storage system.
- Immutability in storing information.
- Suitable for payroll and bill payment applications.
However, all 3 generations still have shortcomings related to processing speed and serious shortage of high-quality human resources.
Specifically:
- Blockchain 1.0 technology has a very slow processing speed and makes it difficult to use, often only for a single purpose.
- Blockchain 2.0 technology has more advanced features such as smart contracts and integration with external applications.
- Blockchain 3.0 technology is designed to expand the integration capabilities and best support for external applications, but doesn't optimize the experience of Web 1.0.
That's why Blockchain 4.0 technology was born, inheriting all the outstanding advantages from the previous 3 generations and improving the limited aspects, giving users a smooth experience of Web 2.0.
In addition, Blockchain 4.0 technology also brings modern - perfect - convenient applications for businesses, people, life.
Following are the great benefits from Blockchain 4.0 technology when applied in the enterprise environment:
- Allows enterprises to build - install - operate decentralized applications easily without requiring much experience in this field.
- Enterprises can develop decentralized applications with absolute information security by limiting the data that is viewed, immutable and automatically stored when making transactions or payments in the application.
- Create smart contracts easily, meet for many different purposes.
- Enterprises can almost perform all of their daily tasks on a single automated application with fast processing speed, personalization and high security.
- Helping enterprises limit the risk of data leakage by decentralizing information, to ensure that they can't be changed once stored.
- Support forecasting and planning enterprise development.
Moreover, Blockchain 4.0 technology also has another outstanding advantage, which is the Integrated Development Environment (IDE) feature.
It helps enterprises to self-develop distributed applications, with cross-Blockchain compatibility.
