- Premium Academic Help From Professionals
- +1 323 471 4575
- academicperfect@gmail.com
Blockchain and Cryptocurrency And How They’re Revolutionizing the Financial Industry
Blockchain and Cryptocurrency And How They’re Revolutionizing the Financial Industry
Order ID 53003233773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages Description/Paper Instructions
Blockchain and Cryptocurrency And How They’re Revolutionizing the Financial Industry
Blockchain technology and cryptocurrencies have the potential to revolutionize the financial industry. In this article, we’ll explain what blockchain is, how it works, and how it’s being used in the financial industry.
Blockchain is a distributed database that maintains a continuously growing list of records called blocks. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. The blockchain is a secure, decentralized ledger that is maintained by a network of computers, rather than a central authority.
The first and most well-known application of blockchain technology is the creation of cryptocurrencies, such as Bitcoin and Ethereum. Cryptocurrencies are digital currencies that use blockchain technology to record transactions and manage the issuance of new units. Unlike traditional currencies, cryptocurrencies are decentralized and operate independently of governments or banks.
One of the key benefits of cryptocurrencies is that they offer a secure and transparent way to conduct transactions. Each transaction is recorded on the blockchain and can be viewed by anyone on the network. Transactions are verified by the network through a process called mining, in which powerful computers solve complex mathematical problems to validate new blocks of transactions.
In addition to cryptocurrencies, blockchain technology is being used in other areas of the financial industry. For example, blockchain can be used to create smart contracts, which are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. Smart contracts can be used to automate the transfer of assets, such as stocks and bonds, and to reduce the need for intermediaries in financial transactions.
Blockchain technology can also be used to streamline cross-border payments, which can be slow and expensive due to the involvement of multiple intermediaries. By using blockchain technology, cross-border payments can be completed faster and at a lower cost.
Another area where blockchain technology is being used is in the creation of digital identities. Digital identities are used to verify the identity of individuals and organizations in a secure and decentralized way. Blockchain technology can be used to create tamper-proof digital identities that are controlled by the individual or organization, rather than a central authority.
Despite the potential benefits of blockchain technology, there are also challenges and limitations. One of the biggest challenges is the scalability of the technology. As more transactions are added to the blockchain, the size of the database increases, which can slow down transaction times and increase costs. There are also concerns about the energy consumption of blockchain technology, as the mining process requires significant amounts of computational power.
In conclusion, blockchain technology and cryptocurrencies have the potential to revolutionize the financial industry by providing secure and transparent ways to conduct transactions, creating new opportunities for automation and reducing the need for intermediaries. While there are challenges and limitations to the technology, it’s clear that blockchain is here to stay and will continue to be a major force in the financial industry and beyond.
Blockchain and Cryptocurrency And How They’re Revolutionizing the Financial Industry
RUBRIC
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.
GET THE PROFESSIONAL ESSAY CUSTOMIZED FOR YOUY NOW – CLICK NOW!
CLICK ON THE LINK HERE: https://phdwriters.us/orders/ordernow
Also, you can place the order at www.collegepaper.us/orders/ordernow / www.phdwriters.us/orders/ordernow
Do You Have Any Other Essay/Assignment/Class Project/Homework Related to this? Click Here Now [CLICK ME]and Have It Done by Our PhD Qualified Writers!!
