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

Latest News

Point scores 2 goals to help Lightning beat Capitals 4-2

Feb 21, 2018

WASHINGTON — Brayden Point scored two first-period goals, Andrei Vasilevskiy stopped 35 shots to earn his NHL-leading 35th victory and the Tampa Bay Lightning beat the Washington Capitals 4-2 Tuesday night in a matchup between division leaders. Chris Kunitz also scored in the opening period, which ended with Tampa Bay up 3-0. That was enough of a cushion for Vasilevskiy, an All-Star who came in with a 2.34 goals-against average. After Alex Ovechkin notched his NHL-high 36th goal for Washington to make it 3-2 at 11:02 of the third period, Nikita Kucherov clinched it with a breakaway goal with 7:02...

Blazers hope for another post-All-Star break revival

Feb 21, 2018

PORTLAND, Ore. — The Trail Blazers have enjoyed post-All-Star break revivals the past two seasons. Those late-season rallies will no doubt be an ongoing theme in the congested Western Conference playoff race once Portland resumes play on Friday in Utah. "I mean, I think that's in the back of our minds. We know that we're usually a better team in the second half of the season," Portland guard Damian Lillard said. "We can't just go into it saying, 'All right, we're always good at this part of the season.' I think mentally we have to understand how close of a...

Decision on Ohtani's first game still being mapped out

Feb 21, 2018

GLENDALE, Ariz. — Angels manager Mike Scioscia says the spring training game plan for Shohei Ohtani is still being mapped out. On Tuesday, Scioscia said Ohtani will throw a bullpen session on Thursday and a decision will be made after that on when the multi-talented Japanese pitcher/hitter will make his first appearance in a spring training game. Scioscia wouldn't rule out a weekend appearance, saying only "we'll see," but said it's unlikely Ohtani would make any pinch-hitting appearances early in spring training. Ohtani, followed by a horde of Japanese reporters and TV crews, has been the major subject of attention...

Estimated 18.6 million viewers watch Olympics on Monday

Feb 21, 2018

NEW YORK — Highlights from media coverage of the Pyeongchang Olympics: RATINGS: An estimated 18.6 million viewers watched the Olympics in prime time Monday on either NBC, the cable network NBCSN or streaming services. That's down 21 percent from the 23.5 million viewers who saw the Olympics on the corresponding Monday night in Sochi four years ago. The 16.3 million who watched the NBC telecast Monday was down 31 percent from Sochi. NBC says the average prime-time viewership for Pyeongchang is 21.1 million, but no individual evening has topped the 20 million figure since last Tuesday. ___ More AP Olympic...

Messi scores vs Chelsea at 9th attempt to give Barca CL draw

Feb 21, 2018

LONDON — Lionel Messi finally managed one of the few things he had yet to achieve in football. At his ninth attempt, the five-time world player of the year finally scored against Chelsea, salvaging a 1-1 draw on Tuesday and halting his longest drought against any opponent after 730 minutes. By cancelling out Willian's opener, Messi also gave Barcelona a narrow edge in their Champions League round-of-16 matchup heading into the second leg at Camp Nou on March 14. The night's other game produced a far more conclusive outcome with Thomas Mueller and Robert Lewandowski both scoring twice as Bayern...

Get your 24-hour live updates here in Ultimate Sports Daily. We deliver content from all regions so that you won’t miss out on any single event.

Contact us: sales@ultimatesportsda.com