TickerPlant (an analytics platform with real-time streaming of market information on domestic and international exchanges), a subsidiary of 63 Moons technologies limited, has announced its collaboration with Google Cloud for the purpose of development of the Mumbai-based CryptoWire ecosystem that will cater to all stakeholders of cryptocurrency and blockchain industry on a common platform. Simplifying the digital asset class, blockchain technology, its industrial application, and empowering enthusiasts and professionals is one of the major aims of CryptoWire as an exchange-neutral global platform to craft informed business decisions by presenting deep `
When it comes to crypto expansion, CryptoWire can play a major role in this. It is a global crypto super app that is a significant business unit of TickerPlant. It launched its first index of crypto-currencies: IC15. This would empower knowledge of cryptocurrency and the blockchain ecosystem. CryptoWire is TickerPlant’s global initiative to disseminate essential crypto information to crypto enthusiasts on the app. The IC15 is a rule-based extensive market index by market capitalization.
In a talk about Collaboration with Google Cloud, TickerPlant Managing Director and CEO Jigish Sonagara said, “Working with Google Cloud, we can provide access to people across the world with well-crafted information with speed and precision in a rapidly changing environment and ensure a meaningful approach to address the information lacuna.”
It tracks and measures the performance of the top 15 widely traded liquid crypto-currencies listed on leading crypto exchanges all over the world. IC15 includes Notably, Bitcoin, Ethereum, XRP, Bitcoin Cash, Cardano, Litecoin, Binance Coin, Chainlink, Polkadot, Uniswap, Dogecoin, Solana, Terra, Avalanche, and Shia Inu as its constituents.
“The sheer pace at which crypto and blockchain markets have moved clearly meant that we needed a technology partner which can help us scale in real-time. Working with Google Cloud, we can provide access to people across the world with well-crafted information with speed and precision in a rapidly changing environment and ensure a meaningful approach to address the information lacuna,” said Managing Director and CEO Jigish Sonagara of TickerPlant when talking about a partnership with Google Cloud.
In November, TickerPlant unveiled its cryptocurrency super application which is intended to be a single destination for cryptocurrency enthusiasts to get information about real-time prices, the latest news, data, and charts. It will also provide courses related to crypto-currencies. The super app is available for both iPhone and Android users. It also has a browser platform. TickerPlant COO Rushabh Shah said, “The convergence of Google’s Cloud network with CryptoWire, CryptoTV, and Crypto University has created a new multi-faceted global growth frontier to be fully utilized by economies, industries, stakeholders, new generation entrepreneurs, and professionals.”
Block Chain Technology
Block Chain technology is an advanced database mechanism that permits transparent data sharing within a business network. In simple words, a blockchain database stores data in blocks that are linked together in a chain. Since deleting or modifying the chain without consensus from the network is not possible, the data is chronologically consistent. Therefore, blockchain technology can be used to create an unalterable or immutable ledger for tracking orders, payments, accounts, and other transactions. Unauthorized transaction entries are avoided via built-in mechanisms within the system. They create consistency in the shared view of these transactions.
Blockchain creates one ledger each for the buyer and the seller. Both parties must approve all the transactions which are automatically updated in both of their ledgers in real-time. Any corruption in historical transactions will lead to corruption of the entire ledger. These properties of blockchain technology have led to its use in various sectors, including the creation of digital currency.
A blockchain transaction shows the movement of physical or digital assets from one party to another in the blockchain network. It is recorded as a data block and can include details like the person involved, date, time, place, and reason for the transaction, etc.
Most participants on the distributed blockchain network must agree that the recorded transaction is valid. Depending on the type of network, rules of agreement can vary but are typically established at the start of the network.
Once the participants have reached a consensus, transactions on the blockchain are written into blocks equivalent to the pages of a ledger book. Along with the transactions, a cryptographic hash is also appended to the new block. The hash acts as a chain that links the blocks together. If the contents of the block are intentionally or unintentionally modified, the hash value changes, providing a way to detect data tampering. Thus, the blocks and chains link securely, and cannot be edited. Each additional block strengthens the verification of the previous block and therefore the entire blockchain. The system distributes the latest copy of the central ledger to all participants.
Evolution of Blockchain technology
The technology has continued to evolve over three generations:
1. First generation – Bitcoin and other virtual currencies
Anonymous individuals or groups of individuals in 2008 outlined blockchain technology in its modern form. Their idea of the Bitcoin blockchain used 1 MB blocks of information for Bitcoin transactions. Many features of Bitcoin blockchain systems remain central to blockchain technology even today. Given the recent values of Bitcoin, one would never believe when it is said that the currency first started trading on exchanges in 2010 at under $0.10. Since then, it has experienced astronomical growth and some pretty wild price swings.
At its most recent high, one bitcoin was worth over $64,000—a far cry from trading for pennies in its earliest days. In March 2010, Bitcoin began trading on the Bitcoin Market, one of the first-ever cryptocurrency exchanges. In 2011, Bitcoin saw its first momentous price spike, hiking to a value of $29.60 before declining again later that year. The Bitcoin hype cooled in 2018, resulting in significant declines—its lowest value was around $3,232 in December of that year. After seeing modest ups and downs through 2020, Bitcoin’s value began to surge again. It hit an exorbitant high of over $66,000 in 2021.
2. Second generation – smart contracts
A few years after first-generation currencies emerged, developers started considering blockchain applications beyond cryptocurrency. For instance, the inventors of Ethereum decided to use blockchain technology in asset transfer transactions. Their significant contribution was the smart contracts feature.
3. Third generation – the future
As companies discover and implement new applications, blockchain technology continues to evolve and grow. Companies are solving limitations of scale and computation, and potential opportunities are limitless in the ongoing blockchain revolution.
Bitcoin and blockchain are used synonymously but both of them are very different. Bitcoin was an early application. Bitcoin was an early application of blockchain technology which is why people inadvertently began using Bitcoin to mean blockchain, creating this misconception.
However, blockchain has many other applications other than the ones included in Bitcoin.
Bitcoin is a digital currency that operates without any centralized control.
One is always scared when it comes to transactions in terms of if someone will manipulate underlying software to generate fake money for themselves. Blockchain systems provide the high level of security and trust that modern digital transactions require. Blockchain uses the three principles of cryptography, decentralization, and consensus to create a highly secure underlying software system that is nearly impossible to tamper with. There is no single point of failure, and a single user cannot change the transaction records. Blockchain records are chronologically immutable, which means that all records are always ordered by time. This data transparency makes audit processing a much faster process.
Benefits
TickerPlant will tap the high-performance data management infrastructure of Google Cloud to amplify and innovate CryptoWire’s applications. The company is also planning upon leveraging its innovative networking capabilities for video streaming, content delivery, small business execution, and opportunity convergence. Apart from Google Cloud’s infrastructure, CryptoWire will explore Google Cloud’s advanced solutions such as smart data analytics, machine learning (ML), and artificial intelligence (AI) to deliver a superior customer experience.
“We are excited to provide the secure and scalable cloud infrastructure to innovative businesses like TickerPlant as it accelerates and scales access to blockchain and cryptocurrency information with CryptoWire, and to support them as they develop new products and offerings to create value for customers and users,” said Bikram Bedi, Managing Director of Google Cloud India.
The partnership will leverage CryptoWire’s cutting-edge knowledge portals, such as Crypto TV, and Crypto University. They will provide technology and knowledge-intensive global intervention in the crypto asset and blockchain ecosystem to facilitate seamless operations and convergence of all applications, allowing participants to make informed investment decisions and enable industry adoption of the blockchain. Using these portals consumers can learn technology thoroughly and keep themselves updated with each and every minute update from a crypto verse. The initiative will guide investors to make a fruitful investment in crypto assets.