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Stampery demonstrates the timestamping of public blockchains like Bitcoin and Litecoin

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Stampery, a blockchain start-up, has demonstrated that l & # 39; Timestamping of public blockchains can be made possible real immutable software and platforms without the need for authorized and centralized blockchain networks.

Using secure public block chains such as Bitcoin and Ethereum instead of authorized large books

For several years, since 2014, various blockchain consortiums and multi-billion dollar conglomerates have focused on the development of flexible ledgers to use blockchain technology as a database with cryptographic proof and unalterable registry More recently , Pfizer and Genentech, two pharmaceutical giants with a combined market capitalization of $ 300 billion, announced the release of the MediLedger project, which uses the Quorum blockchain network, inspired by JPMorgan's Ethereum Go, to manage the company's channels. Supply of the global pharmaceutical industry.

Last month, Genentech, vice president of care management and operations, Marc Watrous, stated:

"Ensuring the safety of those receiving our medication is of paramount importance to us, and we look forward to exploring the potential benefits that this pilot project could bring to protect our drugs throughout the life of the community. supply chain. "

But, if the goal of the MediLedger project is to prevent counterfeit drugs and pills from entering the major supply chains of pharmaceutical companies, it is possible to 39 use some of the safest and strongest decentralized infrastructure of Bitcoin, Litecoin, Ethereum and Ethereum Classic to achieve the same result.

Some startups and blockchain platforms like Stampery allow anyone in the network to attach data simultaneously to the four blockchain networks mentioned above. Stampery recently integrated Litecoin, to secure the data of its users and customers through a variety of public blockchain networks that are unalterable and immutable.

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"Since 2011, Litecoin has turned out to be one of the most viable public blockchain projects and to have a community that embraces innovation as a person." 39. Other.As of today, all data certified via Stampery will be docked simultaneously to four public blockchains at no additional cost: Bitcoin, LItecoin, Ethereum, and Ethereum Classic, " declared the Stampery team.

Possibility of engraving blocks of data simultaneously to major blockchain public networks

For large companies and projects, it will be more convenient and secure to process information via platforms like Stampery that rely on the security of the world's largest blockchain networks in terms of hash power and market value, rather than allocate resources on the development of authorized books that have yet to be proven and marketed in real-world applications.

Because authorized ledgers are centralized to a certain extent in that many participants or network actors have more power than others, there would be a minimal difference in the integration of encryption methods and cryptographic systems. blockchain networks.

If companies seek to prioritize security, it is essential to use public blockchains like Bitcoin that have proven to be immutable and resilient to attack. More importantly, blockchain public networks are managed by decentralized ecosystems of developers, miners, users, and businesses, as their own economies.

As the study of the Bank of Finland read:

"Bitcoin is a monopoly managed by a protocol, not by a managing organization.Familiar monopolies are managed by management organizations with discretion to determine and then modify prices, offers and rules. often regulated to prevent or at least mitigate their abuse of power.Bitcoin is not regulated.This can not be regulated.It is not necessary to regulate it because, as a system, it is applied to the protocol as is and the transaction fees that it charges are determined by the users regardless of the efforts of the miners. "

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At the current stage, it would not be possible for blockchain public networks to process massive amounts of data at centralized platforms such as Visa and PayPal. However, it is also impossible to attach each data to a network and blockchain transactions. Companies could consider bundling data blocks in Bitcoin, Litecoin, Ethereum and Ethereum Classic block chains via startups like Stampery.

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