Trust is the fundamental element in every payment transaction. However, XTRABYTES™ provides a 'trustless trust' for all involved parties, meaning that no trust is required for any transaction to occur. In effect, this allows investors to conduct online financial transactions without disclosing their personal identity.
In addition, XTRABYTES enables transaction recipients to accept or reject payments. Likewise, users will be able to recall a transaction request, particularly in the case of an error (wrong address, wrong amount, etc.). Thus, cryptocurrency tokens may have multiple different states, such as available for spending (confirmed), waiting for validation (reserved) and waiting for confirmation (pending).Read more
XTRABYTES™ technology promises a uniquely decentralized approach to elections, one that enables voters to retain and validate their voting record on a mobile device. That’s because it provides election officials with the ability to review all transaction requests and validations. It also records voter data on the data chain that supports these transactions. This enables election officials (transaction’s recipients) to either accept or reject a voting request.
Furthermore, XTRABYTES employs tiered network levels to ensure maximum (and quantum-resistant) security. As an added protection, the XTRABYTES network offers the necessary transparency for identifying who is acting in good faith and who isn’t. As a result, voting fraud and tampering will not be possible.Read more
Online gaming is one of the fastest-growing industries in our world today. Experts expect the gaming industry to bring in $196 Billion worth of revenue by 2022. And with the right blockchain technology, the industry could achieve a trillion-dollar in sales.
The XTRABYTES PoSign algorithm is designed to optimize the number of gaming transactions included in any one time interval. Consequently, the number of data transactions that can be entered is limited only by how quickly network users can add and validate them. In addition, the XTRABYTES™ platform can help transform the online gaming world by monetizing in-game rewards, currencies, resources, tasks, and other items.Read more
Blockchain advocates have been urging the healthcare industry to place electronic records on the blockchain for years. Unfortunately, patient data is highly private and thus not amenable to being on a public ledger. With XTRABYTES, patient data need not remain on the blockchain. It can be stored in any data structure (whether private or public, centralized or decentralized). Moreover, healthcare providers and patients will be able to provide conditional access to their data.
In addition, patients will be able to (possibly) recall a transaction request, particularly in the case of an error (wrong doctor, wrong medication, etc.). And the transaction’s recipient (healthcare provider) will be able to either accept or reject this transaction request. Likewise, healthcare providers and patients will be able to review all transaction requests and validations (both rejections and approvals). Finally, patient data can be selectively added on the same data chain that supports these transactions. Ultimately, this improves network transparency and helps us identify the trust level of various network entities.
In the end, expect these features to dramatically improve healthcare opportunities for digital ledger adoption.Read more
Since the blockchain is known for promoting transparency and traceability, supply chains that use the technology can achieve higher levels of efficiency and connectivity. Consider, for instance, the food industry. At present, several multinational companies employ blockchain to track foodstuffs sourced from other countries. When freshness is at a premium, end-product retailers can ascertain where to cut delays.
Because blockchain-recorded data is immutable, the technology promises to bring product tracking to a new level. Consequently, XTRABYTES™ can end the production of counterfeit products if legit companies employ its technology to store and validate high-quality products. Likewise, governing bodies can employ blockchain technology to track and take action against fake products as well (i.e. the Bureau of Customs).Read more
Government and public records
XTRABYTES™ can considerably lessen bureaucracy, data manipulation, and corruption. Consider, for instance, identity management. At present, a young student applying for age-restricted benefits may attempt to modify their birth certificate. Even if they cannot modify this document, they may bribe a government official to do so. The immutable nature of blockchain technology can serve to dramatically reduce falsified documents.
Finally, since all blockchain data is digital and stored in a decentralized manner, it’s virtually indestructible. As such, the blockchain can be used to permanently store records, especially those most vulnerable to loss or destruction. Property title registration often comes to mind, since property titles are frequently lost (or forcibly lost via gov’t corruption) in developing countries.Read more