The Linux Foundation has recently partnered with the Cardano Foundation, seeking to forge a natural path towards the adoption of blockchain technologies to enable decentralized computing across a diverse set of applications.
With Dirk leading the Cardano open source ecosystem and the strong community already supporting this work, the Linux Foundation is excited to use all resources to build a better future, said Jim Zemlin, CEO of the Linux Foundation.
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In this vein, Drummond Reed, director of Trust Services at Avast, stated that:
“We are on a mission to protect digital freedom for all. Digital freedom begins with the services used by the individual and the ability to reclaim their personal information and restore trust in digital exchanges. Great endpoint services start with the core of digital identity wallet technology. We are proud to be a founding sponsor of the OpenWallet Foundation because collaboration, interoperability and open ecosystems are essential to the trusted digital future we envision.”
What is Blockchain and how does the technology work?
Every time a member of the network carries out a digital transaction, said transaction generates associated data that will be stored in one of the blocks. When that block is full of information, the block is coupled to the already existing block chain or blockchain.
The information that is stored on said network will depend on the purpose for which it was created. It can be a network that stores payment data (cryptographic currency or cryptocurrencies), medical information, logistics or food traceability data and even electoral data count.
The difference between blockchain and a centralized network (a traditional server that stores data) is that the blockchain network runs on multiple devices distributed around the world and not in a single place. This makes the blockchain network present a series of advantages such as privacy, decentralization or not depending on a centralized executor or security. However, it presents a series of challenges that we assess later in the section on advantages and disadvantages.