Cryptocurrency popularity is growing day by day all over the world, but while people flock to these tokens due to their increase in value, it is important to note that one of the biggest factors behind the popularity of crypto is the blockchain technology that they work on. Blockchain has many applications, and it is already being used across a wide and diverse set of industries and sectors to solve problems. The biggest advantage of blockchain is that it is used to store data across multiple computers or ‘nodes’, making it extremely difficult to hack the system or change data in an unauthorized manner. A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain. Each block in the chain contains a number of transactions, and every time a new transaction occurs on the blockchain, a record of that transaction is added to every participant’s ledger. The decentralised database managed by multiple participants is known as Distributed Ledger Technology (DLT). Blockchain is a type of DLT in which transactions are recorded with an immutable cryptographic signature called a hash. This means if one block in one chain was changed, it would be immediately apparent it had been tampered with. If hackers wanted to corrupt a blockchain system, they would have to change every block in the chain, across all of the distributed versions of the chain.
We can see how this would be nearly impossible, which makes blockchain so valuable, while in terms of crypto, most crypto tokens are constantly growing and adding blocks to the chain, which increases the security of the chain as well. Thus, it is no surprise that blockchain is being adopted across a wide range of sectors, especially online, and one of the primary leaders in this regard has been the online gambling sector. Several online gambling operators have been implementing blockchain on their sites, while also allowing users to make payments via crypto. Thus, a BTC casino is extremely commonplace nowadays, and these casinos are safer, more reliable and faster than regular online casinos, with the added bonus of crypto betting as well.
This sort of integration is being attempted in other areas as well, and one such initiative is being seen in Poland, where Orange Polska, which is the largest telecom operator in the country, has tied up with SmartKey to provide the world’s first blockchain based SIM card. The aim is to create a platform for blockchain internet of things (BIoT) applications, and host these decentralized apps (dApps) on the blockchain network. Using this Orange blockchain SIM card will allow users to generate and distribute NFTs created by SmartKey, and also use SmartKey Connector Technology.
This partnership is being rolled out first in Poland, where both companies have their core operations, with the aim then to gradually reach the rest of the world, with 2000 cities as the target for integration into the platform. The unique integration of Orange’s global Live Objects IoT platform and SmartKey’s technology (to be known as Orange BIoT SIM by SmartKey) will be used in smart cities around the world. This is one of the primary applications of this platform, as the increase in development and creation of smart cities is bound to increase the demand for such services.
This is an exciting development for the blockchain industry, as well as the wider crypto industry, as it signals increased integration into the internet ecosystem for blockchain, and the progress of this partnership in Poland will be keenly watched by many interested parties from around the world.