Block chain Technology Assignment Essay
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages
Block chain Technology Assignment Essay
2.1 Block chain Technology
Revolutionary technology of block chain has largely increased in the recent years. Block chain network involves distribution of ledger that that can keep efficient records of all transactions between two parties in secured way. Transparency and decentralization are the major assets of the block chain. Block chain technology has largely and widely paved many ways for useful and important innovations. Progression of block chain technology has led to existence of smarts contracts. The smart contracts first used by Ethereum to build computer programs into block chain directly that allowed bonds and loans representation instead of cash only.
Proof of stake is yet another rising innovation of block chain technology. Block chain network operates with a proof of work in that the decisions are made by the party with highest computing power.
A scaling block chain innovation accelerates the process and does not disturb the security, the process of system is to make confirmation of each transaction and to divide work equally.
2.2 Effects to Economy
Block chain technology incorporates a lot of strengths, weakness, opportunities and threats in the modern society.
Strengths brought about by block chin include; Increased transparency of networks as they share same history of transactions. Security is enhanced because transactions are fast agreed upon before being recorded making modification hard. Easy traceability of records, every transaction or exchange made on the block chain is recorded making auditing of any assets easier.
Difficulty in hacking. Cryptographic nature of block chain technology makes it difficult to attack any transaction. Its cost efficient since little space is required for disk space and also role of central server is reduced. Improved speed and efficiency, compellability of transaction is reduced down to a simpler interaction.
Weakness that come along with the block chain technology include, regulations of the government that come along with laws which slows down the adoption of block chain. Reliability of records sometimes errors can occur while making data transactions. Cost and time for switching technology are largely required. IT resources including finances and staff required to audit and streamline block chain work. High computing quantum is required for computing power to solve block chain algorithms.
Opportunities of block chain technology includes, smart contract audit, creation employment opportunities, corporate of voting system and application of finances and non-finances, accounting system digitization since most of the transactions need to be verified in an electronic form. Ownership transparency of settlement system and trade transactions is yet a leading opportunity of the block chain technology.
Treats include governance of block chain may pose a great challenge since at least more than a half participant must verified any change and incase a wrong transaction is verified by the maximum number it raises the questions of its governance, security threats and in times failure of the equipment.
2.3 Business Innovation and Security
Decentralization and structured distribution of Ethereum block chain supports business streamlining and processes compliances. Block chain has enabled adoption of bitcoin the highest growing digital currency leading to many research opportunities and business innovation.
Both social and economic applications use of the block chain by the government is largely increasing. For logistics purposes, products can be verified, time stamped and tagged through a shareable public ledger and all parties can easily track their packages and products originality reducing cases of illegality and unethical sources. An intelligent system of the tourism is built on a scalability, openness and trust with respect to services and participants.
Block chain as one among the most existing inventions after internet has connected the business world online processes of the businesses which will largely solve trust issues via the network, computing more efficiently. Block chain as a transaction of peer to peer digital ledger may be distributed privately or publicly to all its users thus distributed and decentralized leading to revolutionizing exchange value in a trustless environment.
Block chain as a backbone to all cryptocurrencies goes beyond ledger distributed accounting that involves invention and adoption of particular cryptocurrency in question.
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. 5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. 10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. 15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. 20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. Grammar (worth maximum of 20% of total points) Zero points: Student failed to submit the final paper. 5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors 10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors 15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. 20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. Structure of the Paper (worth 10% of total points) Zero points: Student failed to submit the final paper. 3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. 5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper 7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. 10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper.
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