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.

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

SIX Network ประกาศร่วมเป็นส่วนหนึ่งกับ ‘FANDOM STUDIO’ โปรเจกต์ Fan-Fi ที่ช่วยให้แฟนคลับเข้าถึงศิลปินและวงการบันเทิงได้ง่ายยิ่งขึ้น!

June 19, 2024

SIX Network มีความยินดีอย่างยิ่งที่จะประกาศร่วมเป็นพาร์ทเนอร์กับ FANDOM STUDIO เพื่อพัฒนาอุตสาหกรรมสื่อและวงการบันเทิงให้เติบโตยิ่งขึ้น ผ่านนวัตกรรมบล็อกเชนจาก SIX Ecosystem การร่วมมือกันครั้งนี้เป็นการส่งเสริมธุรกิจหรือวงการบันเทิง หรือ สร้างกิจกรรมที่ทำให้แฟนคลับกับผู้ใช้งานสามารถเข้าถึงศิลปิน, ไอดอล, ผลงานเพลง และสิทธิประโยชน์อื่น ๆ จาก Fan-Token NFT ซึ่งเป็นเหรียญประจำแพลตฟอร์มที่ใช้งานเพื่อรับสิทธิพิเศษต่าง

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

SIX Network ประกาศร่วมเป็นส่วนหนึ่งกับ ‘FANDOM STUDIO’ โปรเจกต์ Fan-Fi ที่ช่วยให้แฟนคลับเข้าถึงศิลปินและวงการบันเทิงได้ง่ายยิ่งขึ้น!

June 19, 2024

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Tag: token autonomy management