Guide to Understanding the Paradigm of Web3, Blockchain, DApps for Business, and What Are Their Benefits

Posted on August 18, 2022January 30, 2024 by Administrator

Guide to Understanding the Paradigm of Web3, Blockchain, DApps for Business, and What Are Their Benefits

It is getting closer and closer for Web3 to start revolutionizing the next generation of the internet. It’s considered the next phase of the internet in a matter of fact for a decentralized, permissionless, blockchain-based web that will contribute to each individual to maintain their privacy.

Projects and businesses are slowly turning their bow to the evolution aim to disrupt the current Web2 phase controlled by centralized entities. Web3 will be an important part of the interoperability of a business.

Technology for Data Safety

We cannot deny that Web3, blockchain, and DApps are the technologies sharing the core principles of decentralized and equal access. Technically speaking, blockchain is the base infrastructure for businesses to build their system onto by running DApps that become the new phase of the internet which is Web3.

High-level security — Confidential information of an organization, most of the time, data must be encrypted. Will it be beneficial if there is a system to help manage the company’s data with a high-security level so call token autonomy management. View related article.

Also, involving a multi-signature will top it off for the security in accessing a pool of data stored on the blockchain only available to the authorized multiple wallet sign to have access.

Borderless Web3 Transaction

Privacy — Privacy is the subject everyone values when their personal information such as name, address, and card numbers is roaming around the internet, especially people using internet banking or doing transactions through the interweb.

Transactions on Web3 are between two or more parties without a middleman to improve privacy, autonomy, and control of data, and mostly these service providers are Decentralized Applications or DApp.

Efficiency — Therefore, personal data or bank accounts cannot be “thief” with no limitation of the border to make transactions through a decentralized wallet.

Chainlink is an example of a blockchain-based project building Web3 beneficially for business transactions. Chainlink is a blockchain middleware that allows smart contracts to access vital off-chain resources such as data feeds, web APIs (application programming interfaces), and traditional bank payments corporations.

What Can SIX Protocol Chain Contribute?

It’s challenging at best to run a full loop for businesses of various industries to catch the spotlight of blockchain, DApp, and Web3 business. The core of SIX Protocol is the blockchain infrastructure established to digitalize off-chain business, decentralized the system, and privacy security on Web3.

We yearn to create a strong ecosystem foundation through constant communication via media channels such as Discord community, Facebook, and Twitter. Therefore, it is another worthy blockchain infrastructure for business sector implementation that comes with cross-chain functionality, and API collection to reduce the cost of production for organizations.

Stepping up your game with our expertise here at SIX Protocol. Join ecosystem node validators or business node validators to complete our mission to unleash the true power of digital assets: https://forms.gle/wAQzLcXijneVuC3i6.

In conclusion, Web3, blockchain, and DApps are generally open-sourced, decentralized, and in compliance with a specific protocol providing validity to a business operating system.

➤ Provides a trustworthy environment for the community

➤ Lowers barriers to access services

➤ Encrypt identity and no intermediary

Don’t miss out follow us at:

Napathsorn Unchit

Passionate about financial world and is an inverstor too! Giving out news update and blog post every month.
Visit us at SIX Network for more.

Summary of SIX Network's Activities and Milestones Before the End of 2024

Summary of SIX Network’s Activities Before the End of 2024

December 27, 2024

As we reach the final month of 2024, let’s take a look back at the highlights of this year, summarizing

SIX Token is Listing on Gate.io, Leading Global Digital Asset Exchange on 19 November 2024

November 12, 2024

We’re excited to announce that SIX Token ($SIX) will be listed on Gate.io, one of the world’s most renowned digital

SIX Token จะถูกลิสต์ขึ้นบน Gate.io กระดานแลกเปลี่ยนสินทรัพย์ดิจิทัลนานาชาติชั้นนำ วันที่ 19 พ.ย. 67 นี้

November 12, 2024

SIX Token หรือ $SIX ลิสต์ขึ้นสู่แพลตฟอร์มใหม่แล้ววันนี้ บนกระดานแลกเปลี่ยนสินทรัพย์ “Gate.io” หนึ่งในแพลตฟอร์มการซื้อขายสินทรัพย์ดิจิทัลที่มีชื่อเสียงระดับโลก และมีความโดดเด่นเรื่องการรองรับสินทรัพย์ที่หลากหลาย มีฟีเจอร์การใช้งานบนแพลตฟอร์มที่ทันสมัย และมีมาตรการความปลอดภัยที่แข็งแกร่ง ซึ่งการลิสต์ SIX Token บน Gate.io ครั้งนี้ จะทำให้ผู้ถือเหรียญสามารถเข้าถึงการลงทุนได้มากขึ้น และเป็นการเปิดโอกาสให้ SIX

Samitivej Hospital Unveils the Divine Elite Web Application, Developed by SIX Network to Elevate the Premium Member Experience

Samitivej Launch the Divine Elite Web Application, Developed by SIX Network to Elevate the Premium Member Experience

November 11, 2024

Samitivej Hospital introduces the ‘Divine Elite’ web application, a comprehensive healthcare program designed for all lifestyles and ages. Developed in

SIX Network Partners with AhnLab Blockchain Company (ABC), a Subsidiary of South Korea’s Top Security Company

SIX Network Partners with ABC South Korea’s Top Security Company

October 16, 2024

SIX Network is thrilled to announce our new partnership with AhnLab Blockchain Company (ABC). ABC and SIX Network are Web3

SIX Network and FANDOM STUDIO Announce Partnership Collaboration to Advance Entertainment Industry

June 19, 2024

SIX Network is excited to announce our partnership with FANDOM STUDIO for the Fan-Fi project, making it easier for fans

What is SIX Protocol’s Token Autonomy Management System & Why does it matter for the business sector?

Posted on August 18, 2022January 30, 2024 by Administrator

What is SIX Protocol’s Token Autonomy Management System & Why does it matter for the business sector?

If you have been following SIX Protocol content on our social channels, you might be familiar with our Token Autonomy Management System, one of SIX Protocol’s core structures. As we’re developing the SIX Protocol to be an infrastructure blockchain essential for the business sector, we want to invite you to get to know our core structure a little better.

Token Autonomy Management System? What is it anyway?

SIX Protocol’s Token Autonomy Management System is a part of the core services of the protocol. The system allows businesses to secure their private key on the SIX Protocol Chain. The simple analogy to this is like storing something valuable (private key) in a safe that exists in a place only you can access.

It is worth noting that the private key on the chain can be accessed anytime through the integration of consensus node verification and multi-signature technology (having more than one private key). This way, businesses can rest assured that their private key is secured in the most connected technology called “blockchain.”

Safety for individuals in the blockchain space is our number 1 priority.

It goes without saying that protecting one’s private key is one of the most important aspects, especially for conducting businesses on the blockchain. The private key (or seed phrases) is required for crucial actions on-chain, such as issuing the tokens or deploying a new smart contract for business.

However, the way to store the private key is not secured enough due to many limitations in the real world, such as the private key being damaged or lost. If the private key is leaked, it means the person with the private key can access the supply management directly. Therefore, the Token Autonomy Management System is crucial to help ensure that the private key is secure in the right place with the proper autonomy when used.

What is multi-signature technology? Why is it important?

Multi-signature or “multi-sig” refers to requiring multiple keys to authorize a specific transaction or access to the wallet instead of just one signature from one private key. We can say that utilizing multi-sig will help you protect your funds or business operation since it decreases the risk of having only a single point of failure (private key).

This is very important in business because any process that involves more than 2 individuals, such as using a joint account, will be much simpler yet safer.

Who is it for?

Now that you know about our token autonomy management system and the use of multi-sig, you may be wondering; who is this system for?

The answer is simple. Any business would be suitable to utilize and be benefited from the token autonomy management system! If there’s a process where you and your colleagues need to make a decision on something, this system can help you settle that.

On top of that, the system is also perfect for enhancing the security of the company’s data where only selected individuals can access such information.

What do you think about this? Can you see the possibilities of this system to be used in your business?

Here’s another real-life example:

Let’s imagine that there’s a vault that has two locks and two keys. One key is held by Mr. A, and Mr. B. holds the other one. In this scenario, the only way the vault can be opened is by only having Mr. A and Mr. B’s keys together at the same time.

In conclusion, SIX Protocol’s Token Autonomy Management System is a system that helps you ensure that the private key is secure in the right place with the proper authorization from the right individuals when used.

If you wish to explore how you can step into the blockchain world, at SIX Protocol, we have a team full of experts ready to talk to you. So whether you want to be a part of our ecosystem as a business node or just want to explore future possibilities, we are here for you.

Contact our team here: https://bit.ly/contact-sixprotocol

Don’t miss out follow us at:

Khanathat Chowpradith

Web3 Marketer | Passionate Writer | NFTs enthusiast

Summary of SIX Network’s Activities Before the End of 2024

December 27, 2024

As we reach the final month of 2024, let’s take a look back at the highlights of this year, summarizing

SIX Token is Listing on Gate.io, Leading Global Digital Asset Exchange on 19 November 2024

November 12, 2024

We’re excited to announce that SIX Token ($SIX) will be listed on Gate.io, one of the world’s most renowned digital

SIX Token จะถูกลิสต์ขึ้นบน Gate.io กระดานแลกเปลี่ยนสินทรัพย์ดิจิทัลนานาชาติชั้นนำ วันที่ 19 พ.ย. 67 นี้

November 12, 2024

Samitivej Launch the Divine Elite Web Application, Developed by SIX Network to Elevate the Premium Member Experience

November 11, 2024

Samitivej Hospital introduces the ‘Divine Elite’ web application, a comprehensive healthcare program designed for all lifestyles and ages. Developed in

SIX Network Partners with ABC South Korea’s Top Security Company

October 16, 2024

SIX Network is thrilled to announce our new partnership with AhnLab Blockchain Company (ABC). ABC and SIX Network are Web3

SIX Network and FANDOM STUDIO Announce Partnership Collaboration to Advance Entertainment Industry

June 19, 2024

SIX Network is excited to announce our partnership with FANDOM STUDIO for the Fan-Fi project, making it easier for fans

5 Benefits of Becoming SIX Protocol Validator Node for Your Business

Posted on August 15, 2022September 16, 2022 by Administrator

5 Benefits of Becoming SIX Protocol Validator Node for Your Business

Previously, our team had launched the SIX Protocol official website and shared some updates on our operation. Everyone can now find the information about the overall picture of the SIX Protocol there!

As SIX Protocol contains many fascinating aspects, it is essential that we shine the light onto each element for the community of holders, projects, or businesses to benefit from SIX Network’s first-ever public blockchain. Subsequently, the highlight of the SIX Protocol that we would like to elaborate on more today is the SIX Validator Node Partnership program. Let’s get started!

Before moving on, here’re some recaps about SIX Protocol’s Business Node (Validator Node) & Individual Node.

In SIX Protocol, the validator node will be necessary as the fundamental portion of the Protocol’s blockchain infrastructure engaging in consensus since SIX Protocol wants to cover a wide range of services. Therefore, there are two types of nodes available for interested candidates to join: the Business node and the Individual node.

Business Node (Validator Node)

The Business Node is responsible for validating and securing the transaction that occurs on the SIX Protocol. Being one of the business nodes will benefit businesses and corporates that desire to build services on the blockchain and be prepared for the Web 3.0 era. Each business node will be rewarded in SIX from the transaction fees based on the overall performance of the Protocol.

The Business Node Requires 1,000,000 SIX as an initial deposit for setting up the staking system.

NOTE: A group of individuals who can combine up to 1,000,000 SIX can become one of the business nodes as well! (Limited number of nodes) So, even if you don’t have all 1,000,000 SIX to yourself, don’t worry! You will be able to join as a business node once you have joined forces with your friends to commit 1,000,000 SIX as a group.

Individual Node

Like the Business Node, SIX Protocol’s Individual Node will secure SIX Protocol infrastructure and enhance the blockchain performance. The individual node will also receive rewards in SIX for being a part of the chain’s operation.

The Individual Node Requires 20,000 SIX as an initial deposit for setting up in the staking system.

Why is Validator Node Important to the SIX Protocol Ecosystem?

In brief, the validator node is like a group of classroom members. There are a lot of activities that occur on the SIX Protocol Chain, and those activities need approval from the members.

Subsequently, when you become a validator node for the SIX Protocol, you have the power to propose or approve the activities in the chain. SIX Protocol can’t be functional without the node validators.

Benefits for Businesses

You may wonder why your business must join the SIX Protocol ecosystem as a node validator. What benefit will you get?

Benefit 1 — If your business wants to issue a token, SIX Protocol makes it easy.

On SIX Protocol, businesses can easily issue their own token to the destination chain, both in cryptocurrency and NFT. The ground-shaking part is that the token issued by the SIX Protocol has a unique property of cross-chain utility, which means the token itself can exist on multiple blockchain networks, making the token distribution process reach a more comprehensive range of users.

Benefit 2 — You will earn the share of SIX Protocol transaction fees.

By keeping the chain running as one of the validator nodes, you will get rewards in SIX from the transaction fees, which are based on the overall performance of the Protocol.

When the business tools are still being built in the early days of the development process, we’re happy to let you know that each business can keep the node running to receive rewards before your enterprises’ projects can be launched.

In addition, as the SIX Protocol is building its ecosystem to be filled with many enterprises from various industries, validator nodes will be able to receive the reward in other tokens or NFTs from other businesses that joined the SIX Protocol as well.

Benefit 3 — You will become a part of a strong alliance with well-known businesses.

SIX Protocol’s validator node partners are recognized as top-leading professionals in particular industries’ B2B and B2C operations. Our validator node partners range from real estate enterprises, the music and entertainment industries, department stores, online selling segmentations, digital content production firms, digital media agencies, and more.

When your business is joining the SIX Protocol, you are entering the same network as those significant partners as well.

Benefit 4 — You will be eligible to use powerful add-on services to help you integrate blockchain technology for business development.

Apart from the core structure of the SIX Protocol to help businesses migrate to the on-chain world through issuing cryptocurrency and NFTs. SIX Protocol also offers consulting services for supply figures, token distribution plans, vesting plans, randomized services, airdrops, etc.

Suppose you’re one of the business nodes; you will also be able to access all of the SIX Protocol’s facilities, including in the SIX Toolkits, including token autonomy management, web 3.0 Integration, business tokenization, and many more.

Also, the business node will be eligible to access all of the SIX Protocol’s facilities, including in the current SIX Toolkits such as token autonomy management, web 3.0 Integration, business tokenization, and many more to come in the future.

Benefit 5 — Get direct support and advice from the experts.

Building a project on the blockchain isn’t an easy task, but with the right partner, anything is possible!

Our team at SIX Protocol is full of passion-driven individuals and experts in various areas who are happy to help you and your team figure out the best way to unleash the true power of digital assets and take your business to the next level!

Summary

As mentioned above, the validator node is like a group of classroom members who can help approve the activities on the SIX Protocol Chain; in the future, we will introduce the governance part of the network for you to get more involved with what we do.

As of now, SIX Protocol’s Partnership program is open for everyone to join either as business nodes or individual nodes.

For businesses and enterprises, if you’re interested in exploring the possibilities of utilizing blockchain technology and smart contracts for business development or would like to discuss ways we can customize a project for your business, please feel free to contact our Business Development team at https://bit.ly/business-node

For individuals who are interested in joining our ecosystem to complete the mission to unleash the true power of digital assets, you can kindly join the exclusive waiting list here: https://forms.gle/wAQzLcXijneVuC3i6

If you wish to learn more about SIX Protocol, feel free to visit our website here: sixprotocol.com

Don’t miss out follow us at:

Khanathat Chowpradith

Web3 Marketer | Passionate Writer | NFTs enthusiast

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Guide to Understanding the Paradigm of Web3, Blockchain, DApps for Business, and What Are Their Benefits

Table of Contents

Technology for Data Safety

Borderless Web3 Transaction

What Can SIX Protocol Chain Contribute?

Napathsorn Unchit

Related Posts

What is SIX Protocol’s Token Autonomy Management System & Why does it matter for the business sector?

Table of Contents

Token Autonomy Management System? What is it anyway?

Safety for individuals in the blockchain space is our number 1 priority.

What is multi-signature technology? Why is it important?

Who is it for?

Khanathat Chowpradith

Related Posts

5 Benefits of Becoming SIX Protocol Validator Node for Your Business

Table of Contents

Business Node (Validator Node)

Individual Node

Why is Validator Node Important to the SIX Protocol Ecosystem?

Benefits for Businesses

Summary

Khanathat Chowpradith

Related Posts